Wal-Mart was founded in 1962 in Arkansas and has grown to be the world's largest retailer. It maintains low prices through efficient operations and a strong supply chain. Wal-Mart's mission is to save customers money so they can live better. It aims to continuously expand into new markets globally and address social and environmental issues important to customers.
3. Wal-Mart Stores, Inc.Save money, live better Founded by Sam Walton, the first Wal-Mart store opened in Rogers, Arkansas, in 1962. Seventeen years later, annual sales topped $1 billion. By the end of January 2002, Wal-Mart Stores, Inc. (Wal-Mart), 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. And as for today, each week, about 200 million customers visit a Wal-Mart store somewhere in the world. Wal-Mart maintains its slogan of "Everyday low prices", by keeping its merchandise's prices low
5. Wal-Mart’s Objectives Providing the customers what they want, when they want it, all at a value Treating each other as we would hope to be treated, acknowledging our total dependency on our associate-partners to sustain our success Wal-Mart’s objective is to continuously expand into different, new markets E.g. Wal-Mart’s proposed acquisition of a 51% stake in Massmart, a South African firm that owns265 wholesale and retail stores, and 25 more in 13 other African countries (the Economist, 2011).
6. Wal-Mart set up a few policies to achieve this, Open door policy- managers doors are open to employees at all levels Sundown Rule- answering employees, customers and suppliers questions on the same day Grass Roots Process-capturing suggestions and ideas from the sales floor and front lines 3 Basic Beliefs and Values- respect for individuals, service to our customers, and striving for excellence
7. Cont… 10-Foot Rule- making eye contact, greeting and offering help to customers who come within 10 feet Servant leadership- leaders are in service to their team Wal-Mart Cheer- an actual structured chant that was created by founder Sam Walton to lift morale
8. Wal-Mart main strategiesBy Mike Duke, President and CEO. (2010) Wal-Mart must become a truly global company Keeping their culture strong. Wal-Mart had a unique culture which is the combination of a company culture and their business model. The philosophy Includes; - Respect for every individual - Serving customers - Probing for excellence
9. Wal-Mart main strategiesBy Mike Duke, President and CEO. (2010) It must understand the business challenges and retailers. Therefore they must be able to solve and face those challenges i.e. technology. They are playing bigger role on social issues that their customers are interested in. Assuring the social issues of the world would be critical in terms of environment and sustainability. And that is; - Achieving zero waste - Use of renewal energy and - Sell products that sustain people and environment.
36. About half of its 8,300 stores are now outside the United States.
37. In addition to that, they will continue to add discount stores to the portfolio, about 40-45 of those.
38.
39. Wal-Mart should attempt to grow its Sam’s Club base as quickly as possible. The company will face many competitors, such as Price Club and Costco, who will pose a potential threat to its future.
