- Walmart was constructed into a 3 product divisional structure. The successful world retailers business categories include Wal-Mart Stores (U.S.), Sam's Club (U.S.), and International stores. --> Works well as each division is open to focus its efforts on specific goals such as product, service or customers
- Walmart as an organisation have their own display of 'Culture' (also featured on the company website in detail), claiming 3 basic beliefs and integrity in order to deliver a favourable workplace for employees and service to customers; 1. Service to customers, 2. Respect for the individual, 3. Striving for excellence
- 2000 saw a big change for Walmart; introduction of new CEO H.Lee Scott saw massive development and growth for the company, where revenue rocketed to $165bn, an indication that changes implemented by the new CEO were beneficial for the company. These included alterations to the culture of the business, including:
• Open Door Policy - Managers' doors are open to employees at all levels
• Sundown Rule - Answering employee, customer, and supplier questions on the same day the questions are received
• 10-Foot Rule - Making eye contact, greeting, and offering help to customers who come within 10 feet
- Their mission statement, "We save people money so they can live better", and logo/symbol/slogan all coincide in order to connotate better living & associate this, with Walmart themselves
- Name: Walmart, previously known as ‘Walton’s Five and Dime store’
- 1945-1962 – Sam Walton, a former department store employee, purchased a branch of the Ben Franklin stores – aiming to sell products at lower prices for a higher sales volume, despite a lower profit margin
- 1962 - expanded to 24 stores across Arkansas (US), reaching $12.6m in sales, business continued to grow in US
- 2000 - H.Lee Scott became CEO & President of Walmart, saw sales increase to $165bn
- 2005, $312.4 bn in sales, more than 6,200... [continues]
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