According to Wal-mart Stores Inc. (2012) the first Walmart Store was opened in Arkansas in 1962. Since the opening of Walmart they have opened over 10,000 stores in 27 different countries (Wal-mart Stores Inc. 2012). As cited at Wal-mart Stores Inc. (2012) Walmart serves customers and members more than 200 million times per week. Wal-mart serves its customers in retail outlets, online and on mobile devices. Walmart operates under 69 different banners in 27 countries. Fiscal year 2012 sales were approximately $444 billion, Walmart employs 2.2 million associates worldwide (Wal-mart Stores Inc. 2012). According to Wal-mart Inc. (2012) they have stores in 27 Countries; Argentina, Botswana, Brazil, Canada, Chile, China, Costa Rica, Ghana, El Salvador, Guatemala, Honduras, India, Japan, Lesotho, Malawi, Mexico, Mozambique, Namibia, Nicaragua, Nigeria, South Africa, Swaziland, Tanzania, Uganda, United Kingdom, United States, and Zambia. According to Towers (2004) Walmart had to adapt to the environment of each country to be successful. Walmart could not take the same marketing initiatives they use in the United States. Walmart needed to apart to each country and provide products that are usable and needed in each separate Country (Towers 2004). Tower (2004) also states that although there is one centralized global buying agency for Walmart not all products can be through them. It is a necessity that Walmart supplies products relevant to the market they are in for each Country (Towers 2004). Walmart claims to have a global strategy with a local focus. This is the only way Walmart has been able to survive overseas (Towers 2004). Each country has its own legal system and Walmart has to adapt and change to the environment they are in. Walmart cannot afford to take the same approach to business in each country they build Walmarts. Countries have different cultures, legal systems and product needs. Walmart had to take a global yet localized approach to marketing in each separate country (Towers 2004). Anytime a company goes global there are going to be political risks involved. Walmart has successfully added more than 10,000 stores worldwide (Wal-mart Stores Inc. 2012). In each country a company is located it is necessary, to ensure success, to find out the ins and outs of the legal system and what marketing system will work in each country (Daniels, Radebaugh, & Sullivan 2011). What is allowed and not allowed in business for each country. Extensive research is needed to ensure the safety of the company. In some countries Walmart bought out struggling stores in retail and branded the store with Walmart for financial growth and support (Towers 2004). According to Wal-mart Stores Inc. (2012) to be successful in business a company must first understand the greater impact a company can have on the world. To do this Walmart has listed to and engaging in the lives of the customer, Associates, civic organizations, faith groups, government leaders, non-profit groups, NGOs, and other concerned individuals. This is the group of stakeholders that Walmart had to reach and find out more about to create a successful business in each country (Wal-mart Stores Inc. 2012). It is very hard for an international company to make shareholders happy across the board because each country has different rules, regulations, ideas, policies, procedures, and general outlook on life and importance of businesses (Towers 2004). According to Wal-mart Inc. (2012) Walmart has a code of ethics (code of conduct) statement and belief system. Walmart’s code of conduct has 3 basic beliefs; 1) respect for the individual, 2) service to the customer, and 3) Striving for excellence. Wal-Stores Inc. (2012) believes in always act with integrity, follow the law at all times, be honest and fair, no…
Global Discount Retailer moves from Brink and Mortar to Click and Mortar
Since San Walton opened his first store in 1962, Wal-Mart has grown into a global retailer with more than 4,000 store in the United States and more than 6,000 internationally.1 Wal-Mart’s mission statement “We save people money so they can live better”, does not elude to where its strategic focus areas are, but it does sound good for the average customer who has a limited budget.
According to Wal-Mart…
Wal-Mart Business Summary & Financial Health
Wal-Mart Stores operates retail stores in various formats around the world. In the United States, Wal-Mart’s operation includes discount stores, supercenters, neighborhood markets, market-side, and Sam's Clubs. Its international division consists of operations in Argentina, Brazil, Canada, Chile, China, Costa Rica, El Salvador, Guatemala, Honduras, India, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom. The company is headquartered…
May 26, 2014
Sam Walton opened the first Wal-Mart 52 years ago in Rogers, Arkansas. His goal was to open a store that would allow its customers to save money while receiving great customer service. Five years after the first Wal-Mart opened their doors there were twenty four stores open, bringing in more than $12.7 million in sales. In 1969, Wal-Mart became a corporation, Wal-Mart Stores, Inc. By 1980, there were 276…
Costco's Dilemma: Be Kind
To Its Workers, or Wall Street?
By ANN ZIMMERMAN
Staff Reporter of THE WALL STREET JOURNAL
March 26, 2004; Page B1
When it comes to workers, companies can be accused of not paying enough -- or paying too much.
Wal-Mart Stores Inc.'s parsimonious approach to employee compensation has made the world's largest retailer a frequent target of labor unions and even Democratic presidential candidate John Kerry, who has accused the Bentonville, Ark., chain of failing to offer…
Wal-Mart is one if not the largest international discount retail chains in the world. Wal-Mart was founded by a man named Sam Walton in the 1950’s who started with a one building that turned into many, which is a billion dollar company to this very day. The first official Wal-Mart did not open until 1962("History of Wal-Mart," 2009). Some people don’t like the fact that Wal-Mart’s come into their town because they put the mom and pop business owners in a tight corner when it comes…
Wal-Mart was founded by Sam Walton in 1962, and later incorporated in 1969 and publically traded in 1972. Sam Walton had to success higher sale volumes to keep sale price down with other retail store competitor. Sam Walton mission "to help people save money so they can live better", has proven to be the culture of the company that began from a single store to an empire. Wal-Mart is the largest retailer in the United States and one of the biggest Fortune 500 companies. Wal-Mart has over 10…
This basic idea is the driver for the growth of Wal-Mart’s organisational culture. Sam Walton’s vision was to keep prices as low as possible. The margins offered by him weren’t as fast compared to the competitors but he tried to make that up in volume. Sam Walton, thrift and value for money were a religion. Undercutting the prices for competitor’s prices was an obsession that leads to never ending quest for cost economies.
Wal-Mart has their headquarters in Bentonville, Arkansas, instead of a…
Are Wal-Mart's Low Wages A Drag On The Economy? New Report Says Yes
According to a study released by Congressional Democrats, U.S. Senator Bernie Sanders argued that the minimum wage should be raised, because the nation's largest private employer Wal-Mart-- routinely pays such low wages .Wal-Mart’s poverty wages are so measly that many of its workers are forced to rely on food stamps, Medicaid and other government aid programs to survive, which costs the American taxpayer over $0.9 to $1.75million…
Wal-Mart stores case study
1. What are Wal-Mart’s sources of competitive advantage?
Wal-Mart has several great sources contributing to the company’s competitive advantage. The first was Walton’s plan for how to grow Wal-Mart, which was composed of two aspects. The first aspect was for the company to focus on locating stores in rural areas and small towns with low populations so that people would shop closer to home without competition from competitors. The second aspect was the plan as to Wal-Mart’s…
MBA 6008-Global Economic Environment
Final Project: Wal-Mart
December 30, 2011
Wal-Mart is a successful retail corporation that is known worldwide. The retail company has created economic benefits for consumers that are extremely tremendous. Wal-Mart has provided more choices for consumers at lower prices in communities where local retail monopolies were evident prior…