Papawarin Limamapar IUP2010 02
A brief history of Wal-Mart store Inc.
Among the many business enterprises and organizations that changed the world, Wal-Mart holds a very important position. Wal-Mart is the largest private employer in the world with over 8000 stores in 15 countries. Here is a brief the history of Wal-Mart, Starting off with Sam Walton’s idea of low prices in the 1940s, Wal-Mart has since then become the world’s largest public corporation, topping the list of Fortune’s Global 500 for the sixth time in seven years. With headquarters in Bentonville, Arkansas, this retail giant has over 2 million employees worldwide, with 1.4 million within the United States alone, making it one of the largest private employers in the nation. The first Wal-Mart was opened in 1962 by founder Sam Walton in Rogers, Arkansas with the help of brother J.L. (Bud) Walton. A mere five years later, the company had increased to 24 stores within Arkansas and had reached up to $12.6 million in sales. By 1968 Walton opened his first stores outside of Arkansas, in Sikeston, Missouri, and Claremore, Oklahoma, and a year later in 1969 incorporated all of these ventures as Wal-Mart Stores, Inc. on October 31. In early 1990s, Wal-Mart realized that the US population represented only 4% of the world's population and confining itself to the US market would mean missing the opportunity to tap potentially vast markets elsewhere. In early 1990, globalization and liberalization opened up new markets and created opportunities for discount stores such as Wal-Mart across the world. During the first five years of its globalization initiative (1991-1995), Wal-Mart concentrated on Mexico, Canada, Argentina and Brazil, which were close to its home market. It started with Canada and Mexico due to the similarities in people's habits, culture and the business environments in these countries and also because the North American Free Trade Agreement (NAFTA) made it easier for US companies to enter these markets. Wal-Mart's decision to enter Argentina and Brazil was based on the high growth rates of the Latin American markets. Over forty years later, it has been the world’s largest private employers and retailer. Today, with over 2.1 million associates worldwide, Wal-Mart operates more than 8,400 units in 15 countries under 55 different banners, and serves more than 200 million customers per week. Wal-Mart had $405 billion in annual sales in fiscal year 2010.
- Type of Organization : Public Company
- Foundation : Rogers, Arkansas, United States of America
- Founder : Sam Walton, March 29, 1918-April 5, 1992
- Current Headquarters : Bentonville, Arkansas, United States of America - Sector/Type of Industry : Retailing, Discount stores, super markets or shoppes and neighborhood shops - Current Revenue : 404.16 Billion US Dollars
- Net income : 13.59 Billion US Dollars
- Total Employees : 2100000
Why Wal-Mart cannot find happiness in Japan ?
First of all, I would like to introduce you about the largest retailers in the world which is Wal-Mart Store Inc. In May 2002, Walmart has bought into Seiyu Limited (Seiyu), Japan's fifth largest retailer in 2002 and The Nihon Keizai, the centerpiece of Wal-Mart's efforts to invest 50 billion yen or 450 million dollars to remadel 200 Seiyu stores in the five years to 2009. Now Walmart has nearly 400 stores in Japan's Seiyu a subsidiary which holding 100% shares in all stores. There's parking for 1000 cars outside the 145000 square-foot, two level store. Inside, the aisles are Wal-Mart wide and brightly lit. But they cannot success in Japan because the reality is that Wal-Mart is battling to survive in Japan, the world's second-largest economy, with a population of 127 million and one of the highest per capita incomes in the world and the differences between the operational and cultural environment in its home market and the Japanese market....