Internal And External Factors Of Management: Walmart Stores, Inc.

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The Internal/External Factors of Management – Wal-Mart Stores, Inc.

In today's world management must consider a wide variety of factors in order to establish an effective management plan. Wal-Mart Stores, Inc. is the world's largest company and number one retailer, with this success a company this large needs to not only to look internally for solutions to their management objectives, they must also look outside of their business for additional resources. With the increase of technology and the easy access to virtually any information, Wal-Mart Stores, Inc. must be prepared to react to the multitude of demands made by consumers and suppliers. The rapid change of the retail industry from brick and mortar stores to Internet purchases
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Consumers are finding Wal-Mart has listened to their needs and provided them with an incredible store where all of their needs can be met. For the consumers that do not enjoy the experience of shopping in a Wal-Mart, they have a website where you can find virtually all of their home, garden, electronic, music, video, toys, baby accessories and jewelry products. In order for Wal-Mart to adjust to the rapid changes in today's world, the management had the foresight to make adjustments to the way they do business to be able to accommodate the consumers' needs and desires.
In 1991, Wal-Mart Stores Inc. decided to enter the international market of retail. In a joint venture with CIFRA it opened a Sam's Club near Mexico City. The mission was to transport the company's culture and effective retailing concepts into new countries. Two years later, the Wal-Mart International Division was created to oversee opportunities around the world. Wal-Mart International's strategy is to achieve global expansion through a combination of "building new stores from the ground up" and "acquisitions made at the right place in the right time." (Wal-Mart International 1). This strategy positions the company for future development or provides a deep market bases in to existing markets. This