Strategic Management and Walmart
Walmart Organizational Management
Name
Institution Affiliation
Organizational Context
Wal-Mart Stores Inc. or Walmart is a multinational retail organization that has numerous chains of large discount warehouse and general stores. The company was formed in 1962 by Sam Walton as a family-owned business. It was incorporated in 1969 and traded on the Stock Exchange of New York publicly in 1972. Since then this organization has grown strength to strength winning various accolades. In 1988, it was ranked as the most profitable retail business in America outselling competitors such as K-Mart and Sears in the retail business (Fishman, 2006).
It was founded on Sam Walton’s quest for providing goods and services at relatively low or discounted prices. The Walmart principles have been hinged on cost-cutting while at the same retailing goods at consumer-friendly prices. The organization too, has been hailed for its global standard efficiency and business innovations. It was one of the first corporations that integrated use of computers in its operations in all its branches. The mission statement reflects on the founder’s business model of passing savings to his clientele and amassing profits through volume sales. This principle has made consumers feel more welcome and their needs taken care of over the years. The cost-cutting initiatives embraced by the company operations have been as a result of this old age philosophy
Walmart has spread its wings world over opening up over 8,500 branches operating under 55 different brands. The company has wholly owned corporations in North America (Canada) and South America (Argentina and Brazil). In Mexico, Walmart operates under the brand Walmex, in the UK as Asda, Seiyu in Japan and in India it is known as Best Price. The Walmart discount stores mainly deal with a selection of groceries and general merchandise. Many of these stores have pharmacies, Tire and Lube Express, bank branches, cell phone stores, fast food joints and
Name
Institution Affiliation
Organizational Context
Wal-Mart Stores Inc. or Walmart is a multinational retail organization that has numerous chains of large discount warehouse and general stores. The company was formed in 1962 by Sam Walton as a family-owned business. It was incorporated in 1969 and traded on the Stock Exchange of New York publicly in 1972. Since then this organization has grown strength to strength winning various accolades. In 1988, it was ranked as the most profitable retail business in America outselling competitors such as K-Mart and Sears in the retail business (Fishman, 2006).
It was founded on Sam Walton’s quest for providing goods and services at relatively low or discounted prices. The Walmart principles have been hinged on cost-cutting while at the same retailing goods at consumer-friendly prices. The organization too, has been hailed for its global standard efficiency and business innovations. It was one of the first corporations that integrated use of computers in its operations in all its branches. The mission statement reflects on the founder’s business model of passing savings to his clientele and amassing profits through volume sales. This principle has made consumers feel more welcome and their needs taken care of over the years. The cost-cutting initiatives embraced by the company operations have been as a result of this old age philosophy
Walmart has spread its wings world over opening up over 8,500 branches operating under 55 different brands. The company has wholly owned corporations in North America (Canada) and South America (Argentina and Brazil). In Mexico, Walmart operates under the brand Walmex, in the UK as Asda, Seiyu in Japan and in India it is known as Best Price. The Walmart discount stores mainly deal with a selection of groceries and general merchandise. Many of these stores have pharmacies, Tire and Lube Express, bank branches, cell phone stores, fast food joints and