Wal-Mart is sitting at number one on the Global Fortune 500 list. Sam Walton would never have thought that his creation of Wal-Mart in 1962 would lead to a global dynasty. By 1972 Wal-Mart went public which gave an infusion of money and capital for Mr. Walton that gave them 276 stores by 1980. In the mid 80's Wal-Mart expanded to having member only warehouse stores, Sam's Club. From there Wal-Mart opened supercenters that included full grocery and 36 departments of regular merchandise. By the end of the 1980's there were 1,402 stores and 123 Sam's Clubs (Wal-Mart corporate 2012). Recent and Current Operations:
Wal-Mart is one of the most successful retailers in the world (Wal-Mart corporate 2012). Currently, there are 10,020 regular stores and warehouse stores. There are 2.2 million associates employed worldwide. The Wal-Mart empire serves upwards of 176 million customers annually. Sam said, "… if you think about it from the point of view of the customer, you want everything: a wide assortment of quality merchandise; the lowest possible prices; guaranteed satisfaction; friendly, knowledgeable service; convenient hours; and a pleasant shopping experience. You love it when a store exceeds your expectations, and you hate it when a store inconveniences you, gives you a hard time, or pretends you're invisible."(Wal-Mart, 2012). This is exactly what Wal-Mart has proved to live, expand, and abide by.
Wal-Mart is successfully surviving in the changes of economic distress that is affecting the United States as well as other countries around the world. They have been focusing on expansion in Canada and have chosen to progress in Argentina. With Argentina, it is working with producers of fruits and vegetables to best practices, thus Argentina would be exporting to Wal-Mart worldwide. In Canada, Wal-Mart is planning on completing 73 projects which adds 4.6 million square feet of retail space (Wal-Mart, 2012). When it comes to the economic forces that affect Wal-Mart, has shown that even with high unemployment rates, and rising prices, they can still stay competitive in the retail market. Wal-Mart has been able to keep prices competitive by buying in mass quantity. They strive to hire by the expansions that they are continually able to make. The biggest force that affects Wal-Mart is rising prices in transportation that is passed to the consumer with the rising prices of products. Wal-Mart seems to be conquering this by keeping prices lower than other retail establishments, thus consumers flock to Wal-Mart to take advantage of the lower prices. Social Forces:
Wal-Mart is making great strides globally in the humanitarian realm. When a company has social force in the they share core values, brand awareness, and promotion of products, all of which are in the better interest of the public. Wal-Mart has proven this to be true by joining with leaders of business, labor, and government for reform of the health care system and technology in the United States (Wal-Mart, 2012). They are expanding and helping other countries to improve living and economic conditions. Socially, Wal-Mart must continue to provide jobs, and leadership in communities. In doing this, it shows that expanding, and providing employment opportunities. Wal-Mart has established a foundation that provides hunger relief in America. Wal-Mart has also proven to be a leader in military support. They are the largest private employer of veterans and those on active duty with the military. With the economy in dire straits worldwide, Wal-Mart must continue to be a leader in communities by giving back and providing to them with core values that Sam Walton has always believed and strived to give. Political Forces:
Working with governments to improve the conditions of the economy, health care, and job conditions, Wal-Mart is showing communities around the world that they are progressing in the best interests of the...