‘’Why is it a challenge to open a business overseas? ‘’. There are many factors which should be taken into consideration when looking into opening up a business, especially when there are foreign elements involved. First of all, the companies must observe the culture of the area in which they want to open a business. The first problem in Wal-Mart’s attempt to occupy South Korea was location. Most Wal-Mart outlets in South Korea were placed outside instead of inside the cities, and most people willing to buy foreign products would, obviously be in big cities because they are typically less traditional and more “westernized”. The South Korean culture is very tied into the markets, and South Korean consumers expect to see local products presented in a localized fashion. Many housewives did not want to buy foreign foods and beverages, and since they are doing most of the shopping for the typically Korean household, not customizing the stores to their liking was a huge mistake. Also, one of Wal-Mart’s leading sell-points to consumers (especially in America) are its discount prices. This is a concept the South Koreans didn’t understand. Although Wal-Mart prides themselves on their efficiency and savings in North America, this concept failed to impress South Korean shoppers. South Koreans do not distinguish between discounts and normal prices, especially since they are use to their outdoor air markets, which are already at what westerners would consider “discount” prices, with the added bonus that the products they are purchasing are fresh. Also, if Wal-Mart had done more research prior to setting up…
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…
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…
This article is about the retail chain. For other uses, see Walmart (disambiguation).
Wal-Mart Stores, Inc.
Walmart logo, used since June 30, 2008
Traded as NYSE: WMT
Dow Jones Industrial Average Component
S&P 500 Component
Founder(s) Sam Walton
Headquarters Bentonville, Arkansas, United States
Number of locations 8,970 (2011)
Area served Worldwide
Key people S. Robson Walton, Chairman
Mike Duke, President/CEO
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…
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 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…
Case Study - Retail Internationalization: Gaining Insights from the Wal–Mart experience in South Korea
The case in this study presented us a failure of Wal-Mart; a world leading company, in the South Korean market.
Wal-Mart retreated from South Korea in 2007 claiming not being able to touch the market's heart.
However, the case showed us problems they had during the period in there and also mentions that giants, such as Google, Nestle and Nokia retreated from this market too.
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…
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…