According to Fortune Global 500, Wal-Mart is the largest public corporation by revenue in the world. Wal-Mart’s international operations currently comprise 2980 stores in 14 countries outside the United-States. It operates in numerous countries like Mexico, UK, Argentina, Brazil, Puerto Rico, China, India, Germany, South Korea and so on. This fascinating company was founded by Sam Walton. Sam Walton was born in Kingfisher, Oklahoma. Sam was an achiever since the childhood. In 8th grade, he became the youngest Eagle Scout in Missouri’s history. He opened the first Wal-Mart in Rogers, Arkansas in 1962. When he started working as a businessman, he developed skills of acquiring discount merchandising by buying wholesale goods for the lowest prices suppliers. This is the strategy Wal-Mart still uses to pass on savings to his customers, which drives up the sales volume. Higher volume allows Wal-Mart to negotiate even lower purchase prices with the wholesaler on further purchases. The journey of becoming the world’s largest retailed was over in forty years. Walton’s vision came true due to the unique business model Wal-Mart has. Its business model consists of selling extensive variety of merchandise at “always low price.” Wal-Mart has about 1.8 million employees worldwide. The current CEO and president of Wal-Mart is H. Lee Scott. Under his leadership, Wal-Mart has sustained its position as the largest retailer in the world based on revenue, but its share price has fallen 22%. Wal-Mart operated in retail industry. It has a market cap of $ 232 billion. “Walmart helps people around the world save money and live better -- anytime and anywhere -- in retail stores, online and through their mobile devices.”- This is Walmart’s goal. Under suspicious or unethical ways, they are the lowest price guaranteed in the market place. The company appeals the basic needs of consumers by selling basic...
Please join StudyMode to read the full document