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Introduction Wal-Mart Stores Inc. is in the discount, variety stores industry. It was founded in 1945, Bentonville in Arkansas which is also the headquarters of Wal-Mart. Wal-Mart operates locally as well as worldwide. It operated 1209 discount stores, 1980 super centers, and 567 Sam’s Club by January 31, 2006. It has also extended its operations to many international countries. It runs its retail stores in two forms: Sam’s Club and Wal-Mart Stores. The Sam’s Club sells assorted product lines such as hardwares, electronics, jewelry, and to mention a few. The Wal-Mart stores also offer similar products in addition to the following: health and beauty products, apparel for women, men and children, household appliances etc (www.yahoo.finance.com). The Vision Statement, Mission Statement, Values and Code of Conduct, Corporate Governance: Directors, Executive Management, Committees and Stakeholder will be the key elements that will discussed in this report as it relates to Wal-Mart. In addition to that, the major trends in the general/macro environment and industry will be analyzed. Vision Statement Wal-Mart has been one of the most successful companies in the world. The success of Wal-Mart can be traced with its vision statement concerning globalization. According to Hitt, Ireland, and Hoskisson in their text book, "Strategic Management," a vision statement is a statement that describes the organization and points out what the organization wants to get in the future (19). Thus, vision statements focus on implementation of strategies and decisions which pave the way to a successful business in the future. Wal-Mart is now operating globally, and its main vision is for additional global expansion of operation and "promotion of ownership of ethical culture" to all of its stakeholders worldwide (www.walmartstores.com). The idea of Wal-Mart’s vision on ethical culture is key in globalization. Wal-Mart has had good reputation and competitive advantage worldwide because it has been able to embrace culture and diversity in its operations across nations. In promoting ethical culture, Wal-Mart helps its customers and stakeholders to take the right decisions and to do the right thing. Mission Statement Currently, Wal-Mart does not have a formal mission statement, but its main mission can be tied to its (3) basic beliefs which are Respect for the Individual, Service to Customer, and Strive for Excellence (www.walmartfacts.com). Thus, based on its core values and beliefs, Wal-Mart’s mission is focused on providing exceptional services and "everyday low prices" to its customers.
Wal-Mart Stores, Inc. operates retail stores in various formats around the world. Wal-Mart is committed to growing by improving the standard of living for our customers throughout the world. Wal-Mart earns the trust of its customers every day by providing a broad assortment of quality merchandise and services at every day low prices while fostering a culture that rewards and embraces mutual respect, integrity, and diversity. In 2006 the net sales were $312.4 billion versus in 2005 were $285 billion.
Wal-Mart Stores, Inc. does not have a formal mission statement. This is because Kim Ellis, the Public Relations Coordinator, said that they believe the customers are more interested in other aspects of the business, and they, the company, are focused on meeting their basic consumer needs.
According to Yahoo finance Wal-Mart Stores, Inc. was founded in 1962 by Sam Walton and its headquartered is located in Bentonville, Arkansas. Currently this year Walmart it is operating 11,527 stores under 63 banners in 28 countries and e-commerce Websites in 11 countries. The organization has over 2, 300,000 employees operating in those various locations all over the world. It is a company that operates retail in various organizations worldwide, through three portions Walmart U.S., Walmart Worldwide, and Sam’s Club. Some of the different companies it operates are discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, apparel stores,
Walmart is the king of low price competitors, but at what price? It’s customers benefit more than the employees of the world’s largest retailer? This is true and has been so for over 50 years. They must be stopped, they must be forced to pay competitive wages, employees need to stop suffering to save Walmart’s bottom line.
Wal-Mart’s competitive environment is quite unique. Although Wal-Mart’s primary competition comes from general merchandise retailers, warehouse clubs and supermarket retailers also present competitive pressure. The discount retail industry is substantial in size and is constantly experiencing growth and change. The top competitors compete both nationally and internationally. There is extensive competition on pricing, location, store size, layout and environment, merchandise mix, technology and innovation, and overall image. The market is definitely characterized by economies of scale. Top retailers vertically integrate many functions, such as purchasing, manufacturing, advertising, and shipping. Large scale functions such as these give the top competitors a significant cost advantage over small-scale competition.
Unlike Target, Wal-Mart has many stores all over the United States and internationally. Although Wal-Mart is well-known for the most successful retailers it is also well known for most failed of being socially responsible. Unlike Target, Wal-Mart focuses more so on profits of selling products. Wal-Mart has gained much success over Target by low-cost and customer satisfaction policy. Even though Wal-Mart had made it to overnight success there are also many weaknesses when it comes to ethical standards to live up to.
The following report contains an analysis with an overview of Wal-Mart Inc. and it’s financial statements. Wal-Mart, one of the biggest corporations and the largest employer in the world, has used exceptional ways of generating revenue and systems of tracking inventory, two very distinct characteristics of the company, while still maintaining a powerful imagine over all these years.
From supporting the development of our associates, suppliers and women entrepreneurs to pursuing a more affordable, secure food supply chain to building resiliency in the face of disasters, Wal-Mart is using our strengths to promote the well-being of people and our planet,” ("Global Responsibility Report,"
According to Smithson, Walmart can expand its markets to new and emerging markets especially in the third world countries, which can significantly increase its revenues. Secondly, the company can reform is employment practices and improve the quality standard and in doing so, attract more customers and improve its brand image. On the other hand, the company faces threats such as the rising healthy lifestyle trend I that the company in most cases does not provide customers with healthy goods. At the same time, the company can capitalize on this aspect and increase its revenues. Aggressive competition from other discount retailers such as Target creates a great threat to the company (Smithson, 2015).
Walmart is one the biggest retail corporation and is the one that employs more people. Thanks to people Walmart is what it is. Walmart sells goods to 260 million people in 28 countries. Walmart is a great company, and its marketing characteristics are top-notch. This is demonstrated through A complete evaluation of the company is detailed here. From the internal strengths and weakness to external opportunities and threats; these are the main parts of this marketing plan. This plan includes other parts such as the company's growth strategy. The Environmental analysis, the SWOT analysis, the marketing objectives, the marketing strategies, and the marketing implementation are essential parts of a marketing plan.
Walmart is a company that can be seen from many different perspectives. Due to its vast size; it can be easy to identify its faults and environmental issues surrounding the company. However, they are well aware of these problems and criticisms and have made many efforts towards issues around the world. The motivation and desire Walmart have to improve the world we live in today can be seen through their treatment of employees, suppliers as well as their efforts towards the environment and other humanitarian issues. Given this, there is still endless resources on the web proving the company to be one of a negative burden on society.
Many would agree that Wal-Mart has accomplished the number one ranking in the Fortune 500, because of its commitment to the company’s Three Basic Beliefs and Values. As state...
The company’s strategy centers on ‘The Every Day Low Price philosophy’. Wal-Mart seeks to provide
Generally, strategic management is a set of managerial decisions and actions that determines the long-term performance of a company, involving both internal and external environmental scanning, strategy formulation, strategy implementation, and evaluation and control. According to the study of strategic management, the corporation should concentrate on monitoring and appraising outside opportunities and threats based on an organization’s strengths and weaknesses (Thomas Wheelen and David Hunger, 2012).
The first Wal-Mart was opened in Rogers, Arkansas, in 1962. By 1969 it was incorporated into Wal-Mart Stores, Inc., and in 1972 went public on the New York Stock Exchange. The company grew steadily across the United States, and by 1990 was the nation's largest retailer. In 1991 and 1994, Wal-Mart moved into Mexico and Canada respectively. By 1997 it was incorporated into the Dow Jones Industrial Average. As of 2005, Wal-Mart has stores in the United Kingdom, and Puerto Rico, and brings in revenue of close to 300 billion dollars a year. In 2006, Wal-Mart invaded the China and India's markets. During the last two decades, Wal-Mart has been able to take advantage of the rise of information technology and the explosion of the global economy to change the balance of power in the business world (Wikipedia, 2006). Today Wal-Mart continues to grow and their success is not only from their sound strategic management planning but also from its implementation of those strategic plans. In other words operational planning has been an important key to their success.