Project Company: Wal-Mart
Wal-Mart Stores, Inc. is an American public corporation that runs a chain of large, discount department stores. It is the world's largest public corporation by revenue and is founded by Sam Walton in 1962. Wal-Mart is the largest grocery retailer in the United States, with an estimated 20% of the retail grocery and consumables business. Wal-Mart operates each store with the same philosophy, provide everyday low prices and superior customer service. Today, this retailing pioneer has annual revenues of over $100 billion, 3,000 stores and more than 750,000 employees worldwide.
Wal-Mart has many different levels of management planning in place to follow through on its goals and objectives. There are many factors that influence its strategic, tactical, operational and contingency planning. Wal-Mart has been a very successful corporation. Their slogan is “save money, live better.” Saving people money so they can live better was a great goal when Sam Walton envisioned opening the first Wal-Mart store. This mission is embedded in their business and empowers them to meeting customer needs. They are combining their role as a retailer with their responsibility to help people improve their situations and build better lives. Wal-Mart hold two main objective and providing the customers what they want, when they want it, all at a value and treating each other as we would hope to be treated, acknowledging our total dependency on our associate-partners to sustain our success. Because of customers always want high value products, good customer service and lowest prices. They are also highly regarded in the strategic planning stage. In the cost leadership, they have few managerial layers in order to reduce overhead costs and also simplified planning practices to reduce planning costs. On the other hand，they used intense and effective training programs to improve worker efficiency and effectiveness. Cost Leadership is more focused on the lowest-cost products as raw materials and frequent evaluation processes, and also investments in technologies has been became important in order to reduce manufacturing cost. In the Differentiation strategy, prompt understanding customer's purchasing preferences and producing high-quality products. Besides, the management uses the subjective rather than objective performance measures and encourages worker creativity and productivity. They focused on the highest-quality raw materials and purchase of highest-quality replacement parts. Differentiation strategies are more on uniqueness and allow the firm to produce highly differential products. Wal-Mart is expanding internationally, which has become a global leader in corporate sustainability. Walmart has taken an innovative approach to becoming a more sustainable company that has cut waste, improved energy efficiency and built a more environmentally friendly product line. Moreover, they has launched a supplier innovation programme in their website called "Get on the shelf". This idea encourages suppliers to come forward with new ideas. They are looking to give those that don’t get the chance an opportunity to showcase their skills, and also involving the general public who vote for their favorite ideas to decide what they want to see in the shops. Wal-Mart is the largest company in the world, with slightly more than $400 billion in on annual sales. It has aggressively entered into the international market by opening up new stores in many countries of the world. There are more than 8,500 departmental and warehouse stores that operate under 53 different names in 15 countries. They used different strategy in different country where have a different name and different quality according to the preferences of customers. For instance when this company entered into Korean market in the year 1998 and therefore started offering high quality products to the Koreans in order to compete with Korean companies. But...
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