A business is considered to be the state of being busy for either as an individual or society doing a work that commercially viable and profitable to all its stakeholders. In order to achieve efficient and effective operation of the business activities, consequently leads the development of the concept of the contemporary business management theory. Almost every one of today’s business organization perform at least one or more of managerial functions like planning, organizing, leading and controlling together with its roles either in scientifically or traditionally. Therefore in this assignment we will discuss more about organizational environment, cultures, ethics and business strategies and how these concepts are applied in the world of businesses. We selected Wal-Mart as our reference business organization and will be discussed in detail through the assignment parts.
* The background of the Wal-Mart
Wal-Mart is a global discount retailer headquartered in Bentonville, a small city in Arkansas, USA. Wal-Mart is a public corporation, the largest public corporation by revenue, one of the biggest retailers in the world, and its stock is traded in several international stock exchanges. Sam’s Club and Marketside stores are operating divisions of Wal-Mart Corporation, in some international markets Wal-Mart stores trade under local names, ASDA in the UK, Bompreço in Brazil, Mi Bodega or Superama in Mexico, or Seiyu in Japan. The history of Wal-Mart is summarized below table as time line manner according to their official website.
Events and achievements
In 21st century
| Today, 10,020 stores and club locations in 28 countries employ 2.2 million associates, serving more than 176 million customers a year. Their history is a perfect example of how to manage growth without losing sight of values. Our most basic value has always been, and always will be, customer service, they said.
| In 1983, the first Sam’s Club members-warehouse store opened. The first Supercenter opened in 1988, featuring a complete grocery, and 36 departments of general merchandise. By 1989, there were 1,402 Wal-Mart stores and 123 Sam’s Club locations. Employment had increased tenfold. Sales had grown from $1 billion in 1980, to $26 billion.
| Discounters such as Kmart quickly expanded in the 1960s, while Sam only had enough money to build 15 Wal-Mart stores. In 1972, Wal-Mart stock was offered for the first time on the New York Stock Exchange. With this infusion of capital, our company grew to 276 stores in 11 states by the end of the decade.
| The Wal-Mart story began when Sam Walton, the founder opened the company’s first discount store in Rogers, Ark. 1968 saw the hiring of Wal-Mart Aviation’s first full-time pilot, who provided help to Sam and Bud Walton, as well as the opening of the first stores outside of Arkansas, in Sikeston, Mo., and Claremore, Okla. The company officially incorporated as Wal-Mart Stores Inc. on October 31, 1969.
Type of the company
Wal-Mart Stores is a multinational retailer company that runs many of large discount subdivision and warehouse stores. The company is the world's 18th largest public corporation, and the largest public corporation when ranked by revenue according to the Forbes Global 2000 list, also the biggest private employer in the world with over 2 million employees, and is the largest retailer in the world. Furthermore, Wal-Mart has 8,500 stores in 15 countries, under 55 different names. The company operates under its own name in the United States, including the 50 states and Puerto Rico. Wal-Mart invested outside North America and operates in the United Kingdom, South America and China, Germany and South Korea. Finally there are three types of businesses: Manufacturer, Services and Merchandiser. Wal-Mart lies is merchandise type of business especially for reselling and retailing of other...
Please join StudyMode to read the full document