In doing so, Wal-Mart has gained global recognition as a retailer whose store will always have what the consumers want on the shelf. The unique reputation has made Wal-Mart a case study for other retailers that wish to improve their supply chain through strategic
In order to maintain their spot at the top of the global retailers list, Walmart continually seeks to improve the technology used to ensure they maintain competitive advantage, efficiently process data, and ensure business continuity and security. Competitive Advantage Competitive advantage is a driving force in Walmart’s business model. With 2.2 million associates, 10,700 retail stores and 245 million customers served weekly in 27 countries, Walmart requires an array of information systems functioning harmoniously to meet all of the requirements and expectations of their employees, customers and communities (Walmart, 2013). Mr. Walton believed that sharing profits with and motivating employees and partners were rules of building a business. Sam Walton once said that “our people make a difference” referring to the associates that he viewed as partners that should share in the profits of the company (Wal-Mart Stores, Inc., 2014).
When you talk about Wal-Mart the first thing that you have to remember is that they are the largest retailer in the world. Wal-Mart employs more people in the United States than any other company and is second only to the federal government in the number of employees that they have on the payroll. These are important facts to consider in that due to their tremendous size, Wal-Mart has an enormous effect on the economy and the way that business is conducted. In many instances, if a company wants to continue to do business they have to either follow what Wal-Mart is doing or attempt to compete against Wal-Mart in some other fashion. It is not unreasonable to state that Wal-Mart is the reason why many businesses are in business today.
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.
Key Financial Indicators Graph – This indicator shows Walmart’s sale and success over years. Affordable price is an important factor in today’s economic. Therefore by following this mission, Walmart combines both roles as being a retail store and showing responsibility as member in community to help people getting valued and good quality product and having a b... ... middle of paper ... ...14. . "Safety." 2012 Walmart GRR –.
1. Nature of the Business Environment Wal-Mart delivers a wide variety of goods at competitive prices to add value and low cost its costs, making it the strongest company in the retail sector. Over the years, Wal-Mart has attracted the attention of many analysts because of its huge international success and its ability to target a wide demographic of shoppers. Wal-Mart is a discount retailor founded by Sam Walton in 1962. This Company has grown to be a retail giant with over 11,000 stores worldwide from Canada, Brazil, Argentina, UK, and China.
In terms of management approach, the company has established management culture that envisions effective leadership where management is nurtured. The company’s culture promotes the aspect of competitive advantage since the firm’s values of leadership highpoints its ability to speedily implement changes and use resources effectively. This is attained through effective management strategies that have seen the company ranked best company with good customer relationship globally (Pahl et al, 2007). Because leadership values seeks to promote customer experience through high quality service and products, Amazon through its management strategies empower its employees to act speedily, ... ... middle of paper ... ...performance in the retail industry. This has enabled the company to engender customer experience service that has improved the company’s productivity over years.
Wal-Mart Stores in 2003 Identify the issue Wal-Mart stores, one of the most successful retailing chain in the world, has gain competitive advantage over its competitors. Thanks to his unique set of features, like its powerful IT system, its way of manage suppliers or its logistic system, Wal-Mart is able to responds quickly at demand changing, maintain low costs and satisfy its customers. Framework used in analysis The analysis will be conducted using the value chain framework in order to analyze the situation and activities that Wal-Mart currently faces. The different resources and capabilities will be organized and categorized according to the value chain. Therefore, it will be possible to find out the unique set of competitive advantage that permits Wal-Mart leadership in retailing industry.
Retailers around the globe have incorporated the concept of customer experience management, with many incorporating the notion into their mission statements. For example, Valero Energy Corporation is committed to ensuring a positive retail experience for customers by focusing on convenience, value and quality. Dell computers focuses on delivering the best customer experience in the markets the firm serves, while Toyota’s mission statement is to sustain profitable growth by providing the best customer experience and dealer support. Similarly, the success of Starbucks is based on creating a distinctive customer experience for their customers. Additionally, a recent IBM report identifies customer experience as a key factor for companies to use in building loyalty to brands, channels and