Wal-Mart – Competing in Global markets
1.1 Company Profile
Wal-Mart is a multinational company. Wal-Mart operates with 69 different names in 27 countries. Wal-Mart serves around 200 million people for a week. 2.2 million Employees work at Wal-Mart. Wal-Mart supplies products and services of several sectors such as retail, health, electronics and automobiles etc. Main motto of Wal-Mart is to provide the products at a cheaper price than its competitors. 1.2 Products and Services
Wal-Mart offers a variety of services. Some of them include retail goods, wireless, pharmacy, photo lab and financial. Retail Goods:
Retail goods are available in a variety of categories. Wal-Mart sells electronic products such as computers, printers, digital cameras, mp3 players. Wal-Mart also offers books, movies, jewelry and music downloads. Wal-Mart also offers home furnishings, sporting goods, baby products and grocery items. Photo Services:
Photo lab Services are provided in the store and online. Store Kiosk is a special service provided by the Wal-Mart where in the customers can drop their photographs for developing. Once the photographs are developed, Wal-Mart provides an option to send them to their home or pick up at store. Prints are developed in the lab in one hour. Financial Services:
Financial Services provided by Wal-Mart include debit cards, credit cards, check cashing, money transfers, bill payment and check printing. The annual fee is waived for customers with credit cards. Debit or credit cards can be applied online and also by coming to the store. MoneyGram, a money transfer service is provided at a very cheap rate. Customers can purchase gift cards, money orders and cash checks. Wireless Service:
Wal-Mart provides wireless phone service by partnering with smart mobile. Wal-Mart provides unlimited talk and text offer at very low rates. Pharmacy:
When the pharmacy program was started at Wal-Mart, it offered prescriptions for $4. Today, for long term medications, Wal-Mart offers monthly prescriptions for mail order and pick up in store services. 1.3 Company’s vision and Mission, Objectives and Strategies Vision:
The Wal Mart Vision statement states that "The vision of the Global Ethics Office is to support ownership of Wal-Mart's ethical culture to all stakeholders globally." Wal-Mart believes in 3 principles
* Respect for individuals
* Service for our customers
* Striving for excellence
Wal-Mart’s mission is to provide quality products to customer at low rates. Their mission statement is simple “people, saving money, and a better life”. In order to achieve their mission, Wal-Mart has developed procedures, policies, rules and principles. Open door policy:
Higher management doors are always open for the employees.
Leaders are always available to serve the team.
Customers or employees' questions are answered on the same day of receiving. 2. Company Strategies and Globalization
2.1 Competitive strategies within the company
Best competitive strategies adopted by Wal-Mart are Big Box Phenomenon, Low – Cost Leadership and Differentiation Strategy. Big Box Phenomenon:
The retail industry had a major revolution with the evolution of Wal-Mart. Big retailers have their store established in 50, 000 sq. feet. Most of these retailers are large windowless buildings which are single storied. All Business article published Wal-Mart emerged as the number one among all the retail giants like Toy “R” Us, home depot, target, best buy and Lowe’s. Since Wal-Mart has big box status, it made huge profits compared to other retailers. Wal-Mart earns major profits on low- price items which are sold in huge volumes. Low Cost Leadership:
Wal-Mart slogan is “Spend less. Live better. Wal-Mart provides low cost items and has pride in itself in beating out the other retailers for earning huge profits. Since the economy is slowing down,...
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