Globalization is the application of making something worldwide. In today's day and age, as far as competition is involved, Wal-Mart has an advantage over their competition. They have grown so powerful in such a short period of time that it has become its own entity. This super store is the world's largest retailer and company. Unbelievably, it is bigger than General Motors, General Electric and Exxon Mobile. Fast Company reports:
"Wal-Mart sold 244.5 billion worth of goods last year. It sells in three months what number-two retailer Home Depot sells in a year. In a category of general merchandise and groceries, Wal-Mart no longer has any real rivals. It does more business than Target, Sears, Kmart, J.C. Penny, Safeway, and Kroger combined."
This great power-wielding retailer has one purpose and that is to bring the lowest prices to its consumers. It is clear that this goal is never met because this mega store continues striving to drop its prices every year.
"Wal-Mart is the essential retailer, in a way no other retailer is," says Gib Caret, a partner at Bain and Company, who is leading a yearlong study of how to do business with Wal-Mart. "Our clients cannot row without finding a way to be successful with Wal-Mart." It is a known fact that this retailer continually strives for improvement on all levels of its merchandise and expects no less from its suppliers. They demand quality at cheap prices and if these demands are not met...