Company Background Of Wal Mart

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Company Background Wal-Mart Stores Inc. is one of the largest retailers in the world and not only that but is also considered as the largest corporation in the world. Sam Walton was the founder of Wal-Mart Inc. He graduated in 1940 with a degree in economics and began his career at J.C Penny as a management trainee. After saving up money for three years at his current job he decided to quit and open a Ben Franklin variety store in Newport, Arkansas. Due to some issues he lost his lease for his first store but did not loose hope and together with his brother J.L Walton opened up a new store in Bentonville. In 1960’s Sam Walton believed that he had enough experience about the retail industry that he could introduce large discount shopping…show more content…
By opening its own warehouses and buying in bulk Wal-Mart managed to reduce its costs and provide customers with better prices. Even today Wal-Mart believes in doing everything they can to minimize their costs in order to provide a cheaper and more affordable shopping experience to their customers. Currently Wal-Mart has approximately 2.2 million full time employees, and revenue of about 4.8 billion and operates over 11,000 stores in 27 countries around the world. Wal-Mart has always been very focused on their employees, shareholders and their community. They have promoted about 170,000 people to jobs with more responsibility and higher pay to show how much they value their employee’s work. By keeping unnecessary spending down within the corporate level Wal-Mart is able to give so much back to its well-deserved employees, shareholders and communities. Wherever Wal-Mart can save money they make sure that they do. Even after doing all of this they still make sure they follow Sam Walton’s concept of offering “a wide assortment of good quality merchandise; the lowest possible prices; guaranteed satisfaction with what you buy; friendly, knowledgeable service; convenient hours; free parking; and a pleasant shopping experience.” External Analysis Wal-Mart is part of a very competitive and aggressive industry. The influence or power that buyers have against Wal-Mart is
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