Nia Scott
November 27, 2012
Unit 5 final assignment
Professor Jimmie Flores
Kaplan University
Q#1) Provide the name of the organization (this must be a real organization and you may use the organization where you currently work; describe the organization’s size and summarize the primary mission of the organization. Don’t simply copy from the organization’s mission statement.
“Always Low Prices” when an individual read or hear that slogan the name of the store is Wal Mart. Wal Mart is the number one retail store in the service industry in America. There are more than 1.5 million employees that work for Wal Mart. It is the largest private employer in America (Fishman). According to Charles Fishman there are approximately 140 million
…show more content…
Because Wal Mart already have a lot of these expectations set in place, it is very important that the employees are educated and informed of the company mission and the culture of the company. For any company including Wal Mart it is very important that the employees are treated with respect and they are treated equal. The employees should also have a clear understanding that their success within the company would be rewarded. Wal Mart has set training programs for their employees. 4) Managed: The management team of Wal Mart should be able to properly measure how well it is doing by the financial records of the stores. The reviewing the store policies and regulations could potential benefits the success of the store. Wal Mart has set up new training techniques for Assistant Managers in Training (AMT) which would help new assistant managers tap into their leadership skills (Wal Mart, 2012). 5) Optimizing: This is the last stage of the Capability Maturity Model (CMM). At this level the managers have to review and implement new and old policies of Wal Mart. issues and problems that employees and customers have at this stage would be addressed.
Evaluate Porter’s three-phase process (page 32, figure 2.1) for defining a company strategy and create a simple chart of the recommended change addressing issues in each phase.
Wal Mart company strategy is to provide lower prices for their customers. In a small
(1) Wal-Mart’s promotional strategy of “everyday-low-prices” meant offering customers brand name merchandise for less than department and specialty store prices.
On the other hand, Wal-Mart focused to achieve efficient operations, vertical integrations and high bargaining power, which allowed a low cost approach. The slogan "Always low prices" was realized by Wal-Mart’s ability to deliver high "value for money" to customers across genders. Wal-Mart
The purpose of this business report is to gain familiarity with Wal-Mart and to learn about the different aspects that make Wal-Mart a successful company. This report gives an in-depth analysis of the company history, services and products provided, the company philosophy, business methods, organizational structure, and financial and competitive analysis.
Wal-Mart founded in 1962 by Sam Walton is now the largest American retail corporation. With thousands of chains of stores and warehouses Wal-Mart monopolized the American retail industry. In addition, Wal-Mart is the second largest retail corporation in the world employing of two million employees world-wide. As one of the most valuable corporations in the world Wal-Mart continues to improve their sales annually while offering some of the lowest prices available. Wal-Mart’s famous low price guarantee, come at a high expense of the environment, the small businesses, education, the rights and safety of the consumer, but most importantly their employees. Although Wal-Mart has plays a dominate role in American economy, this “American”
Evidently, Wal-Mart is not doing anything to differentiate itself from rivals. It gives no frills to self-service outlets always providing the cheapest prices. Through a well-built influence with suppliers, the company has gained the power to manipulate prices and amend manufacturing procedures thus wringing out more savings for its customers. All that the company does from the frequent calls to suppliers to doubling up execs in hotel rooms aimed at saving the
When it comes to retail giants, Walmart stands tallest by a very large margin. In fact, Walmart’s retail sales more than tripled their closest competitor in 2015 (“STORES top retailers 2016,” 2016). Walmart has consistently used the same marketing strategy for many years. Their “Everyday Low Price” strategy is a well-known advertisement moniker and has driven repeat sales to customers for years (Ferguson, 2015). Another familiar sign
Wal-Mart’s sheer size gives it unrestrained economic power which allows it to drive down costs in the retail and manufacturing sectors and to enact its own standards with regards to its work force.
Wal-Mart is the world's largest retail and departmental store chain. Having business operations in 27 countries with 69 different brand names, Wal-Mart is able to serve a huge number of customers per day. Wal-Mart is the fastest growing and the most successful retail brand in the world. The factors which make it the strongest brand in its industry include large customer base, sound financial strength, strong brand image, and huge supply chain network. Wal-Mart has certain weaknesses in its operations and business setup like low acceptability of certain products, high employee turnover, and less recognition of newly introduced brands. These weaknesses can be overcome by availing attractive opportunities from the market and investing more in the most profitable areas. Wal-Mart faces the biggest threat from its competitors and ever-changing customer preferences.
The success of Wal-Mart is due in large part to its ability to consistently produce high quality products at a low cost. This is very critical to the future success of Wal-Mart because it provides consistency to customers who are price sensitive. By committing themselves to "Everyday low prices," Wal-Mart assures customers that the products sold within their stores are competitive in reference to its retail competition. This low price strategy also provides Wal-Mart with a
Walmart serves nearly 260 million customers weekly across 27 different countries, both in stores and through its websites (“Fortune”, 2015). Walmart relies heavily on its proper and effective marketing strategies; Walmart would not be able to achieve the level of success without these strategies. Low prices, easy access for its customers, and social media campaigns are a few of the vital tactics Walmart has used in its marketing plan. “Save Money. Live Better” is Walmart’s mission in delivering customers products at the lowest prices. This low price strategy plays a marketing role that caters to customers who seek the lowest prices and with grocery stores that provide great deals (Brown, 2017). Walmart’s low cost business model is protected by its powerful supply and distribution chains throughout the world. Customers can expect the same cost efficient style in every Walmart store worldwide.
The main objective of a low-cost provider is to achieve a lower overall cost than its main competitors and rivals by means of underpricing (Gamble, 93). This is also known as price advantage in order to attract customers. Companies that use this strategy will achieve high sales volumes while striving for low cost margins. For example, Wal-Mart is known to have considerable low prices that attract a broad spectrum of customers. People who shop at Wal-Mart are familiar with their “Rollback Prices” which focus on the idea of everyday low prices that are sold at a far cheaper rate than its main competitors. They are able to sustain these prices because of a successful supply chain market. Many of the products they sell are from foreign and domestic markets that focus on a lower price demand. This allows Wal-Mart to sell their products at lower prices at a high volume. Basically, they buy a huge quantity in volume in order to achieve a lower price to gain a higher profit.
Wal-Mart is arguably the most dynamic corporation in the last 50 years in the United States, if not the world. Arising from its beginnings in Bentonville, Arkansas, it has grown to over 4,400 discount stores, super centers and corner markets worldwide. Wal-Mart continues to expand despite public criticism of its labor practices as well as complaints about their treatment of competitors. The many strengths of Wal-Mart, like their low cost production and marketing practices, will aid Wal-Mart as it continues to grow in the retail
Wal-Mart is the highest revenue generating organisation in the world (Forbes, 2014). According to WalMart’s annual report (2014), the company owns 6,100 stores in 27 countries. It employees 2.2 million
“Always low prices”, is the first thing you think of when you think about one of the most successful companies around the world, Wal-Mart. For years they stand as a well know company due to their everyday low prices and variety of products. Their mission statement is “Saving people money so that they can live better”. They have chosen their mission statement wisely yet there is a lot of controversy when it comes to this International Company.
Concepts & Connections 5.1, How Wal-Mart Managed Its Value Chain to Achieve a Low-Cost Advantage over Rival Supermarket Chains