What is Wal-Mart? Walmart is one of the largest retailer in the United State. Walmart was first founded by Sam Walton in the late 1962. Walmart has over 3,300 stores in the countries and it offers a wide selection of items that are pretty successful. Walmart focusing on only two main objectives, to keep their business successful and they are (1) providing the customers with what they want, when they want it, all at value, and (2) treating each other as we would hope to be treated, acknowledging our total dependency on our associate-partners to sustain our success.” (Glass 101)This statement by Glass shows that Wal-Mart has devised a plan in order to maintain its high ranking in the retail business.
Growth remains the name of the game for Wal-Mart as the world’s largest retail company prepares to achieve new levels of sales and profits in the U.S. and abroad through their expansion program. Wal-Mart will build more stores, uncover more new sales opportunities and find ways to reduce expenses. This growth will take place because of their dominant market position and their deep pockets. Foreign operations have increased Wal-Mart’s growth in operating income by sales growth. Wal-Mart will invest in their future by building new stores.
Stakeholders are the persons, groups, and institutions directly affected by an organization’s performance. Some external stakeholders for Wal-Mart include the following: 1) Customers: specific consumer or client’s groups, individual, and organization’s goods and/or use its services.
Our first responsibility is to provide all consumers the best products and services with guaranteed satisfaction under one roof. Wal-Mart provides a wide array of products and services at reasonable prices. We will continue to offer scholarships to deserving high-school graduates in hopes of providing students with a well-deserved education. Consumers have been conveniently provided not only with the use of on-line shopping, but also with the concept of “one-stop shopping.”
The Wal-Mart team is devoted to everything that Wal-Mart has accomplished as a universal competitor. We are dedicated in recruiting, rewarding, and retaining employees of good moral standing by providing benefits for excellent performance, providing clean environments to work in, and by providing equal-opportunity for all individuals. We will continue to offer the highest quality products at the lowest price to strive to be the best in the retail industry.
The main generic strategy is to have over all cost leadership by which the Wal-Mart can control the cost. The supply and distribution system has to be more effective in present one so that they can save both time and money while doing distribution of there products from ware house to the stores.
In today’s world management must consider a wide variety of factors in order to establish an effective management plan. Wal-Mart Stores, Inc. is the world’s largest company and number one retailer, with this success a company this large needs to not only to look internally for solutions to their management objectives, they must also look outside of their business for additional resources. With the increase of technology and the easy access to virtually any information, Wal-Mart Stores, Inc. must be prepared to react to the multitude of demands made by consumers and suppliers.
The rapid change of the retail industry from brick and mortar stores to Internet purchases Wal-Mart Stores, Inc. has been able to stay attractive to the buying public. Wal-Mart Stores, Inc. has accomplished this through a highly sophisticated inventory tracking system that enables the stores, including the Internet, to have in stock exactly what the consumers are looking for.