Retail super-giant Wal-Mart has fought its way to becoming the world's largest company. Much of their success can be attributed to providing a vast assortment of products at exceptional prices all under one roof. Wal-Mart began operations in 1964 and has since become the world leader in retail. Today, Wal-Mart is visited by 138 million customers per week at their 4,750 stores. Wal-Mart operates under four basic rules in order to satisfy such a large number of customers: Respect the individual, provide the best service to their customers, strive for excellence, and exceed customer expectations.
Wal-Mart Stores, Inc. Walmart announces $11.8 to $12.8 billion FY2015 global capital expenditure plan. Walmart Corporate. [Online] October 15, 2013. [Cited: March 14, 2014.] http://news.walmart.com/news-archive/2013/10/15/walmart-announces-118-to-128-billion-fy2015-global-capital-expenditure-plan.
Our Story. Retrieved May 28, 2014, from Wal-Mart: http://corporate.walmart.com/our-story/ Wilking, R. (2007, sep 12). Wal-Mart rolling out new company slogan. Retrieved may 28, 2014, from Reuters: http://www.reuters.com/article/2007/09/12/us-walmart-advertising-idUSWEN091820070912 Wysocki, B. (2009, April).
Wal-Mart’s Strategy for Long-term Competitive Advantage Today, firms are experiencing great success because of the impact that logistic managers all over the world have in the global market. There are components in business that makes logistic management a success at Walmart; its success can be attributed to its business strategy and supply chain management strategy. Walmart at a Glance The history of Walmart can be traced back to a man named Sam Walton who opened his first Walmart store in Rogers, Arkansas in 1962 (Bergdahl, 2004). According to Bergdahl (2004), from 1962 to today, Walmart employs 2.2 million associates and promotes 160,000 people to jobs of greater responsibility each year. Walmart is a global business with more than 11,000 stores in 27 countries.
There is a lot that goes into being a successful company, and making the Fortune 500 list is most every business owner’s dream. Sam Walton is credited with being the founder and first Chief Executive Officer (CEO) of Wal-Mart. Walton and other CEO’s of the company were able to shape the success of Wal-Mart by implementing strategies that would revolutionize the way retail stores do business, all while pushing Wal-Mart to the top spot on the Fortune 500 list. This paper looks at a few different strategies Walton implemented that ultimately benefitted the company to increase revenue. How did Wal-Mart become the retail giant that it is today?
Mission and Goals In 1962, Sam Walton opened the first store, Walmart, in Rogers, Arkansas. Walton financed 95% of the company. Since then, his vision was saving people’s money so they can live better. From more than 40 years ago, until now with thousands of stores around the world, the same mission embedded the business. Walmart’s mission statement and advertising slogan is: “People, saving money and live better; If we work together, we’ll lower the cost of living for everyone, we’ll give the world an opportunity to see what it is like to save and have a better live.” In order to fulfill its mission, Walmart developed some unique rules and procedures: 1.
“Our competitors are better because Wal-Mart exists” stated by the chief financial officer of Wal-Mart. Wal-Mart is a retail store, which provides groceries, electronics, household appliances, and high quality items to consumers. The retail chain has made a household name within every house by selling products all over the world at a bargain price. Wal-Mart’s strength and pace of growth contributed to a retail store in every city and state across America. Wal-Mart is a powerful conglomerate, which contributes to businesses and people on a global scale through supporting the economy, creating jobs, and bettering the lives of millions.
To start, their vision statement is: “To be the best retailer in the hearts and minds of consumers and employees.” Their aim to be the top retailer is certainly true. According to the National Retail Federation, Walmart is the #1 retailer in the United States. Other numbers back up their position. They have 11,535 retail unites in about 28 countries. 2.2 million associates around the world serve over 260 million customers weekly.
is the world's largest retailer with $466 billion in sales for the 2012 fiscal year. Walmart Stores Inc. includes Walmart Supercenters, discount stores, Neighborhood Markets and SAM'S Club warehouses. Walmart employs more than 2.1 million associates from under 60 different banners in the United States, Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the UK. In 2007, Walmart became No. 1 on the Fortune 500 List and in 2003 and 2004 Walmart was named 'Most Admired Company in America' by Fortune Magazine.