Preview

Wall-Mart Strategic Planning

Powerful Essays
Open Document
Open Document
4131 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Wall-Mart Strategic Planning
Wal-Mart Strategic Development and future
Becoming Wal-Mart- The Past:
Overview
Wal-mart was founded by sam Walton in 1962. The idea behind was to bring discount shopping stores to rural America. It grew rapidly with huge popularity. Today it has 3708 Wal-mart U. S. Units, 569 U.S. Sam’s Club and 4112 International units. It toppled GE and became No.1 in Fortune 500 Company list with annual revenue of 405 Billion USD and employs about 2 million associates. It has presence in multiple sectors across retail industry like grocery, Auto, Pharmacy, Jewelry, Clothes, electronics, books etc. Let’s consider strategies in place and changes during last 25 years of Wal-mart.
Mission: We save people Money so they can live better. Deliver Quality products at lowest possible price.
Values and Culture:
In my opinion Wal-mart’s values are keys to its sustainable success. Here are some key values and words about company culture. * Respect to individual. * Open door. Listen to customers and associates. * Give best service to customer. * 10-Foot Rule – greet and ask for help to customer within 10 foot of distance. * Sundown Rule – Combine efforts to answer to any requests or resolve any complain by end of business day. * Leaders are also servants.
Many of these values helped Wal-mart developing two important feedback loop for any organization, which drive for constant improvement, are Internal and external Feedback.
Strategy:
Let’s analyze five elements of strategy diamond to understand how placed Wal-mart itself in this industry and became global player.
Areas:
Wal-mart has decided to compete in retail segment keeping in mind to be one stop place for customers. Wal-mart made rural area as their business places. This in long run helped them to lock out competitors, helped Wal-mart to use as entry barrier. Customers can get almost everything they want from one place saves time and money both. It decided to have its own distribution


References: Mason A. Carpenterand Wm.Gerand Sanders (2007), Strategic Management A dynamic Perspective concepts and cases, 2nd edition,New Jersey:Pearson Education,P.605-614. Walmart Annual Report (2010),[Online],Available http://walmartstores.com/sites/annualreport/2010/ Walmart Sustainability, [Online],Available http://walmartstores.com/Sustainability/ Walmart File (1999), [Online],Available http://news.bbc.co.uk/2/hi/business/325922.stm Beth Lewallan, Walmart and the bar code, [Online],Available http://www.pbs.org/wgbh/pages/frontline/shows/walmart/secrets/barcode.html
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Better Essays

    Mgt/330 Wal-Mart Organizational Paper
    • 1117 Words
    • 5 Pages

    Mgt/330 Wal-Mart Organizational Paper

    Wal-Mart believes that managers should provide support to their senior leaders and help in the decision making process. This aspect has made a large impact on how to incorporate technology into the company. Secondly, Wal-Mart understands that by placing the right individual in the leadership role of their…

    • 1117 Words
    • 5 Pages
    Better Essays
    Read More
  • Powerful Essays

    Organizational imapact OI/361
    • 1185 Words
    • 5 Pages

    Organizational imapact OI/361

    Wal-Mart values the impact on innovation through the quality of the product they sell to the customer. Wal-Mart makes sure that the customer is satisfied with the services rendered. By making sure that the quality is there for the products they sell the latest core principal will make sure that this continues. These core principal deals with the partner ships established with company so Wal-Mart will have good quality products to sell to the customer. By having these core principal the organization will be able to stay open because of the dedication they have to the customer.…

    • 1185 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Good Essays

    Wal-Mart Economic Indicators
    • 1203 Words
    • 5 Pages

    Wal-Mart Economic Indicators

    Although Wal-Mart is a very successful company, there are still many areas of improvement they need to consider. The problem a lot of companies make is that once they reach a certain revenue dollar amount they feel they have arrived. Although having increasing revenues consistently is key to success, there are many other factors that measure a company’s success.…

    • 1203 Words
    • 5 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Local Business Bus/210
    • 319 Words
    • 2 Pages

    Local Business Bus/210

    The first component of Wal-Mart is business commerce. Business commerce is when Wal-Mart exchange good and services with other businesses. For example, Wal-Mart has a hair salon service; I love to get my hair done every other week. Also, many Wal-Marts provide banking services and some fast food services. Wal-Mart has stock trades also. Another main component of Wal-Mart is business occupation. Business occupation is the acquired set of specialized skills and abilities that allows Wal-Mart to create valuable goods and services. When my husband started at Wal-Mart he had to undergo several trainings to ensure that he understands the business and also that he provides customers with excellent services. Wal-Mart provides thorough training to its employees so that they can keep the customers coming back. Customers always value great customer service. I think this is one way Wal-Mart remains ahead of its competitors. The last main component of Wal-Mart is business organization. Business organization is the system of task and authority relationship which coordinates and controls the interactions between people so that they work toward a common goal. Wal-Mart’s common goal is to provide low prices. They try to provide lower prices than their competitors. They are about saving their customers money. They have reduced the costs of their retail and other products in the store. There are many Wal-Marts around the world and they provide the same services in all of them. I love Wal-Mart and I agree that they have prices lower than many other retailers. I definitely agree with their slogan, it is so true. “Save money, Live better”.…

    • 319 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Mara 466 Wal-Mart
    • 832 Words
    • 4 Pages

    Mara 466 Wal-Mart

    In the modern era of business operations the store founded by the Walton family in Bentonville Arkansas has grown into the largest company in the world. From its small beginnings it has grown into the behemoth of the retail industry and defined the new way of doing business worldwide. Wal-Mart’s continued success can be contributed to their business plan, distribution system, HR management, product diversity, price, and negotiating power with manufacturers. They have essentially written their own playbook on how to maximize the profitability of every store, every product and every worker.…

    • 832 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    Wal-Mart Store Company Overview Term Paper
    • 1301 Words
    • 6 Pages

    Wal-Mart Store Company Overview Term Paper

    Wal-Mart has grown to be the world’s largest retail and grocery store with sales soaring to $419 billion in fiscal year 2011. Wal-Mart employs over 2 million associates worldwide in 9,600 retail units and operates in 28 countries. Wal-Mart has enjoyed its success since 1962 when the first store opened in 1962 in Rogers, Arkansas. Wal-Mart was founded by Sam Walton who envisioned a retail store that could “save people money to help them live better.” Sam Walton opened his first store in 1962 as a private investment (95% of the capital came from Sam and his wife Helen) and went public on the NYSE in 1972. Sam Walton’s secret was to give your customers what they want and to determine their wants from the perspective of the customer.…

    • 1301 Words
    • 6 Pages
    Good Essays
    Read More
  • Good Essays

    Wal Mart
    • 1969 Words
    • 6 Pages

    Wal Mart

    One of Wal-Mart belief and function is the respect for the individual. They have given importance of respect for every individual and every member of the community. For individuals; Wal-Mart offers convenience, good pricing and multiple products under one roof. It reduced the overall cost to consumers as they don’t have to go from one place to another to buy different goods.…

    • 1969 Words
    • 6 Pages
    Good Essays
    Read More
  • Good Essays

    Retailing and Giant Chess Board
    • 324 Words
    • 2 Pages

    Retailing and Giant Chess Board

    Wal-Mart is of course no stranger to success. Although Sam Walton opened its doors over five decades ago, this giant organism is still proving to be a success story like no other. With net sales of 374.5 billion USD (8.6% increase on 2007 sales), the 2008 fiscal year has been a record setter for Wal-Mart. From a business perspective this mega corporation is an example hard to follow, but in the next few pages we shall see some of the elements that have brought this ultimate success story to life.…

    • 324 Words
    • 2 Pages
    Good Essays
    Read More
  • Powerful Essays

    Strategic Profile and Case Analysis of Walmart
    • 604 Words
    • 3 Pages

    Strategic Profile and Case Analysis of Walmart

    Wal-mart, is an American multinational retailer corporation that runs chains of large discount department stores and warehouse stores founded by Sam Walton in 1962. Moreover, the company is the world's third largest public corporation, according to the Fortune Global 500 list in 2012. Whereas, Wal-mart also the biggest private employer in the world with over two million employees, and still is the largest retailer in the world. Wal-mart remains a family-owned business, as the company is controlled by the Walton family.…

    • 604 Words
    • 3 Pages
    Powerful Essays
    Read More
  • Better Essays

    Costco's Corporate Strategy
    • 2022 Words
    • 9 Pages

    Costco's Corporate Strategy

    The main issue facing the management of Wal–Mart is how to sustain their extraordinary growth that they have sustained over the years in their growth in profit margins and growth in sales. As the domestic market reaches saturation, a strategy for at home and for global expansion will be necessary. Wal-Mart faces many direct and indirect competition in retail, but I feel that the use of their state of the art supply chain management built in with their partnerships with suppliers gives Wal-Mart an edge over the competition. Wal-Mart has been very successful in creating share holder value, and customer value. Wal-Mart strategic vision is to be the low cost-leader, this strategy has helped Wal-Mart to penetrate and fulfill the market with their services. Even in a bad economy Wal-Mart does well. This is a good business model to have and to…

    • 2022 Words
    • 9 Pages
    Better Essays
    Read More
  • Good Essays

    Walmarts Winning Marketing Strategy for Success
    • 805 Words
    • 4 Pages

    Walmarts Winning Marketing Strategy for Success

    Wal-Mart was founded by Sam Walton, the first Wal-Mart store opened in Rogers, Arkansas, in 1962. Seventeen years later, annual sales toped $1 billion. By the end of January 2002, Wal-Mart Stores, Inc. was the world's largest retailer with $218 billion in sales. Wal-Mart's winning strategy in the U.S. was based on selling branded products at low cost, which enables the lower class and middle class consumers to shop for products and save. Due to the advances in technology over the years Wal-Mart has been able to achieve tremendous success. Wal-Mart's success has allowed the company to expand out of the United States.…

    • 805 Words
    • 4 Pages
    Good Essays
    Read More
  • Powerful Essays

    Walmart History Essay
    • 1951 Words
    • 8 Pages

    Walmart History Essay

    Wal-Mart Stores, Inc. is an international discount department store chain operating in many towns and cities in multiple countries. Wal-Mart’s founder, Samuel Walton, “decided that small-town populations would welcome, and make profitable, large discount shopping stores” (Healy 493).Therefore, he started to build the largest discount department stores and opened the first Wal-Mart discount store in Rogers, Arkansas in 1962 (Healy 493). Wal-Mart sells many different kinds of products, such as clothes, food, books, furniture, and many more. Wal-Mart has been growing very fast. “In 1979, there were 276 Wal-Mart stores in 11 states. Sales had gone from $44 million in 1970 to $1.25 billion in 1979. Wal-Mart became the fastest…

    • 1951 Words
    • 8 Pages
    Powerful Essays
    Read More
  • Better Essays

    Functional Area Interrelationships Outline
    • 1328 Words
    • 6 Pages

    Functional Area Interrelationships Outline

    1. Mission Statement: “Our mission is to make Target the preferred shopping destination for our guests by delivering outstanding value, continuous innovation and an exceptional guest experience by consistently fulfilling our Expect More, Pay Less ® brand promise.”…

    • 1328 Words
    • 6 Pages
    Better Essays
    Read More
  • Good Essays

    Wal-Mart Internal/External Factors
    • 964 Words
    • 4 Pages

    Wal-Mart Internal/External Factors

    Sam Walton opened the first Wal-Mart store in Arkansas on July 2, 1962, (Carson, 1999-2013). The vision of Sam Walton for his store Wal-Mart was to provide lower prices and to reflect on the values of the community and the customer. Consumers remember Wal-Mart for its motto "customer satisfaction" and “guaranteed lower prices."…

    • 964 Words
    • 4 Pages
    Good Essays
    Read More
  • Better Essays

    Walmart Political Risks
    • 1046 Words
    • 5 Pages

    Walmart Political Risks

    Mr. Sam Walton had a personal philosophy, “the secret of successful retailing is to give your customers what they want. And really if you think about it from the point of view of the customer, you want everything: a wide assortment of good quality merchandise; the lowest possible prices; guaranteed satisfaction; pleasant shopping experience” (walmart.com). From this, Wal-Mart operates its stores with one main philosophy and that is to provide everyday low prices as well as excellent customer service. Wal-Mart continues to strive for excellence and attempts to come up with new ways to provide excellent customer service and continue to increase revenue and maintain customers. For example, their main competitors are K-Mart and Target but because they strive for great customer service there are greeters welcoming customers to Wal-Mart at every store. This contributes to the fact that Wal-Mart is the number one retailer in the world. Some ways Wal-Mart can continue to be successful is to monitor and maintain the customer service level, always trying to continue to improve products as well as employee relations, and deliver products and services and the lowest price.…

    • 1046 Words
    • 5 Pages
    Better Essays
    Read More

Related Topics