The Retail King Wal-Mart Essay example

The Retail King Wal-Mart Essay example

Length: 1194 words (3.4 double-spaced pages)

Rating: Good Essays

Open Document

Essay Preview

Wal-Mart has quickly become the world's largest company with its one stop shopping convenience and low prices. There is no debating that Wal-Mart is a dominating force in the American and world economy. However, there is a clash between two different views of how Wal-Mart achieved this status. The defenders of Wal-Mart say that they are so successful because they are market savvy and make good economic decisions. The other side argues that Wal-Mart only became successful by killing off all their competition with their low prices. The only thing that matters to those that like the company is that they save consumers money through their low prices, but you cannot tell this to all the owners of smaller stores that Wal-Mart has put out of business, such as Gary E. Hawkins. The CEO of a family-owned supermarket in New York, he said "It will be a sad day in this country if we wake up one morning and all we find is a Wal-Mart on every corner." This is obviously a conflict of different interests, and it is unclear as to whether Wal-Mart is beneficial or harmful to the economy.
Wal-Mart grew to its enormous size mainly because of the low prices it offers its consumers, which seems to be an obvious benefit to the economy. New England Consulting estimated that Wal-Mart saved U.S. customers $20 billion in 2002 alone. With the price cuts other retailers make to compete with them factored in this total reaches $100 billion. When you combine these savings with the convenience of being able to buy ones food, clothing, electronics, gas, and almost anything else one could desire in one place you have a winning formula. The low prices they charge get them large percentages of the consumer's money, which in turn allows them to charge such low pri...


... middle of paper ...


...their success. As Edward Weller of ThinkEquity Partners said, "I don't think Wal-Mart can ever be underestimated, they are so very good."

Bibliography
1. Bianco, Anthony and Zellner, Wendy, BusinessWeek: Is Wal-Mart Too Powerful? Oct. 6, 2003.
2. Elliot, Dorinda and Powell, Bill, Time: Wal:Mart Nation, Jun. 27, 2005.
3. Forbes:http://moneycentral.msn.com/content/invest/forbes/P100080.asp?GT1=5809, Wal-Mart's Next Victims.
4. Kirkland, Rik, Fortune: Wal-Mart's RX for Health Care, April 3, 2006.
5. Lavelle, Marianne, U.S. News & World Report: Wal-Mart's Most Wanted, Jun. 27, 2005.
6. Mansfield, Edwin and Behravesh, Nariman, Economics U$A, W.W. Norton and Company, New York, 2005.
7. McGinn, Daniel, Newsweek: Wal-Mart Hits the Wall, Nov. 14, 2005.
8. Zimmerman, Ann, Wall Street Journal: Wal-Mart Boss's Unlikely Role: Corporate Defender-in-Chief, Jul. 26, 2005.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on Wal-Mart and Sam Walton

- No two heroes are alike; George Washington and Martin Luther King Jr. achieved their statuses in vastly different ways, but nevertheless are both considered idols of their time. Heroes share a unique set of attributes, not a set of actions to be followed in an orderly fashion. A person who is innovative, fearless, and determined to succeed, in any field, has the ability to become a leader and a hero. The founder of Wal-Mart Stores Inc., Sam Walton, exemplified each of these characteristics on a daily basis....   [tags: management, claims, monopoly]

Good Essays
1102 words (3.1 pages)

Wal-Mart: Good for American Cities and Towns Essay

- Wal-Mart has been a staple of America since July 2, 1962, when Sam Walton opened the first Wal-Mart Discount City store. Within a few years, Wal-Mart Discount City stores began to spread across the country. In 1968, it opened its first stores outside Arkansas, in Sikeston, Missouri and Claremore, Oklahoma. Sam Walton found success in offering consumers options and variety. Since that first store opened, Wal-Mart has now entered the grocery business and now the company controls about 20% of the retail grocery and consumables business....   [tags: Business Analysis]

Good Essays
1354 words (3.9 pages)

Wal-Mart: The High Cost of a Low Price Essay

- Wal-Mart: The High Cost of a Low Price Wal-Mart represents the sickness of capitalism at its almost fully evolved state. As Jim Hightower said, "Why single out Wal-Mart. Because it's a hog. Despite the homespun image it cultivates in its ads, it operates with an arrogance and avarice that would make Enron blush and John D. Rockefeller envious. It's the world's biggest retail corporation and America's largest private employer; Sam Robson Walton, a member of the ruling family, is one of the richest people on earth....   [tags: essays research papers]

Good Essays
515 words (1.5 pages)

Retail and the Media Essay

- Retail and the Media Today's media focuses more on a corporations mistakes and less on what the companies give back to the community, making it impossible for the public to see the truth. In every large corporation, there is going to be a fair share of so called ‘scandals’. Unfortunately, the media preys on these scandals to bring us, the public, juicy gossip to get through the day. In my opinion, most of the scandals brought to the public’s attention have no bearing on the products and services a company brings to the consumer....   [tags: essays research papers]

Free Essays
1435 words (4.1 pages)

The Globalization Of Nothing By George Ritzer Essay

- Sociologist George Ritzer coined the term grobalization in his 2007 novel, The Globalization of Nothing. In it, Ritzer defined grobalization as “the imperialistic goals, desires, and needs of large corporations, or even entire countries, to impose themselves in various areas of the world so that their power, influence and profits can grow” (2007). Grobalization is a combination of the words “growth” and “globalization. Grobalization is used over globalization because it speaks specifically to the “growth imperatives of organizations and nations to expand globally and to impose themselves on the local (Ritzer, 2007)....   [tags: Wal-Mart, Department store, Big-box store]

Good Essays
711 words (2 pages)

Essay on Pricing And Retail Strategy Of Wal Mart

- Pricing and Retail Strategy Pricing and retail strategy is a key component of any business. These strategies play a major role in a customer’s perceptions of a business. Price is almost always a key factor. “Speak to any average consumer and mention the names of some high quality, leading businesses. The chances are high that one of the first words they will use is "expensive". Not "excellent service", "marvelous range" or even "helpful staff" (2006). Wal-Mart uses an everyday low price pricing strategy which has been a massive success for the company....   [tags: Wal-Mart, Sam Walton, Fortune 500]

Good Essays
703 words (2 pages)

Wal-Mart Dominating Global Retail Essay

- Wal-Mart Dominating Global Retail Brief summary The Wal-mart is the largest retail chain in United States and in the world. The wal-mart was founded in the year 1962 by Mr Sam Walton. It was originally named as Wal-Mart discount city in Rogers, Arkansas. At the time when the Wal-Mart stores started in the year 1962 it was focused only in small rural cites and town which had a population of 5000 to 25000. It was soon increased to 18 stores in 1969. In the next 30 years it had more than 4750 stores across 50 states in USA and 9 countries with $245 billion sales....   [tags: Wal Mart Business Analysis]

Good Essays
1496 words (4.3 pages)

Wal-mart A Retail Legend Essay

- Question...where can you shop for electronics, clothes, and groceries, get your oil changed, go to the bank, see the optometrists and pick up a medical prescription. The answer is Wal-Mart. Best known for, everyday low prices, Wal-Mart’s history is one of innovation, leadership, and success. Brief History of Wal-Mart Wal-Mart was founded by Sam Walton who was born in March 1918 in the town of Kingfisher, Oklahoma. Graduating from the University of Missouri, Sam enlisted in the Army in support of the World War II effort....   [tags: Retail Industry]

Good Essays
1825 words (5.2 pages)

Wal-Mart Essay

- Overview When someone says “Wal-Mart,” there are several ideas that probably come to mind; an idea such as “Everyday Low Prices,” Wal-Mart superstores, and that Wal-Mart is the biggest corporate giant in the world wouldn’t be too far fetched. However, Wal-Mart almost went bankrupt before it even started. Back in 1962, Sam Walton (the founder of Wal-Mart) probably never imagined that Wal-Mart would reach the astronomical heights that it has. In the beginning, Wal-Mart entered the discount retail industry when it was barely even a market, opening up locations specifically around the mid-west area....   [tags: Wal Mart Business ]

Free Essays
1784 words (5.1 pages)

Wal-Mart Essay

- The founder of the Wal-Mart chain, Sam Walton was born in March 1918 in the town of Kingfisher, Oklahoma. Graduating from the University of Missouri, Sam enlisted in the Army for the World War II effort. Upon his return, Sam worked for a while at the J.C. Penney group of stores. He began to realize that opportunities existed in the large scale discount retailing business (nickel and dime stores). The idea and business philosophy of Wal-Mart borrowed from the nickel and dime stores of earlier times, and consisted of getting National Brands in bulk at a discount based on volume purchases; the company would then stamp its mark and resell the goods at a slight markup, this rate being however les...   [tags: Business Analysis Wal Mart]

Good Essays
1552 words (4.4 pages)