Business Models, Systems, & Organizations
Randy L. Smith Sr.
University of Phoenix
Professor: Sonya Ryals
September 21, 2014
Walmart’s Business Model
Our family frequently visits our local Walmart. In fact, we visit it several times a month, for several reasons, for example groceries, personals, and household shopping. Therefore, for the purpose of this assignment, all criteria will focus its attention upon the main components of Walmart's business model. Components
Walmart's main three components of its business model are as follows: business commerce, business occupation, and of course business organization. When it comes to business commerce, people exchange money for products, goods, or services by this process. Walmart's has a business commerce that focuses on trade. The more Walmart expands their business, the more they engage in not only trading their goods, but also their services as well. Some current services Walmart offers are a nail salon, photo studios, and hair salons. These services can only help draw in more customers, and make their business stronger. Jones (2007), states, "Business occupation is the acquired set of specialized skills and abilities that allow people to create valuable goods and services" (p. 11). It seems the more stores Walmart opens, the more efficient they become, which can only mean they have a high set of skills and abilities available to them at all times. At this point in their business model, the Walmart Company is set up to encourage both efficiency and mass purchasing powers. Third, we have business organization, which is the system which controls interactions between "people so that they can work toward a common goal" (Jones, 2007, p. 11). Looking at other company's business models in comparison to Walmart's business model can only assume that Walmart has a very strong business organization to add them in their future business endeavors. Each of these components helps to build a...
References: "Joint-stock Company." Merriam-Webster.com. Merriam-Webster, n.d. Web. 22 Sept. 2014. http://www.merriam-webster.com/dictionary/joint-stock Company.
Jones, G. R. (2007). Introduction to Business: How companies create value for people. New York: McGraw-Hill/Irwin.
Limited Liability Company (LLC) | the U.S. Small Business Administration | SBA.gov. (n.d.). Retrieved September 22, 2014, from http://www.sba.gov/content/limited-liability-company-llc
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