Essay on Mgt/230 Internal and External Factors

Walmart has literally invented efficient customer response systems that enable it to maintain its low-cost leadership strategy for its physical stores, re-creating a different or separate logistics supply chain is proving difficult and expensive. Walmart has not been that involved in online shopping but now it’s being forced to increase its Internet presence based on Amazon’s success. Walmart has literally invented efficient customer response systems that enable it to maintain its low-cost leadership strategy for its physical stores, re-creating a different or separate logistics supply chain is proving difficult and expensive

Wal-Mart is a brand that is well known around the world, especially in the USA. It has gradually developed into the largest retailer in the world. Wal-Mart’s globalization efforts have been happening rapidly. But have they been successful in all aspects of their international expansion or not? This is the main thought that is going to be discussed in this essay. The questions I will be looking at are based on a case called “Wal-Mart takes on the world” from the book of International Business The Challenge of Global Competition eleventh edition – Ball, McCulloch, Geringer, Minor, and McNett. Questions are the following:

As the world’s largest retail store in the world, Walmart wants to be in every market that they can be prosperous in. They know they rule the United States market, so why not try to expand overseas and dominate those markets as well. Now that they have reached limits on expansion here in the U.S., the next step was to test the water in other nations. As they began to go international, there were many critics saying they will never make it because their business practices and culture wouldn’t work in other countries. Yet the company’s globalization efforts progressed at a rapid pace. Its more than 4,263 international retail units employ more than 660,000

Within less than 30 years, Wal-Mart had transformed from a small rural retailer in Arkansas into the largest retailer in the U.S. In order to continue this rapid growth, the company had started to pursue international expansion grounded in the belief that the firm’s business model of offering quality products at low prices and great customer service would appeal to consumers everywhere around the world (p.8)[1]. China was of particular interest in going international as Wal-Mart’s top management held the opinion that it was the only market in which the firm’s success story in the U.S. could be repeated (p.2/8). However, in 2005 (nine years after its

Wal-Mart’s mission statement is, “Saving people money so they can live better.” This statement was what Sam Walton aimed for over fifty years ago. According to Wal-Mart Stores, Inc. (2015), there are now 11,488 stores worldwide and 5,187 of the stores are located in the United States. This company has grown each year since opening in 1962 and is still growing. Wal-Mart is and remains a successful company do to its use of the four managerial functions, all of which are needed to have a successful Management Process. In this paper I will explore how Wal-Mart uses the four managerial functions: planning, organizing, leading, and controlling to maintain their position on the Fortune 500

The evolution of Wal-mart from the early 1960s to the present day has set a benchmark that few can achieve. Wal-mart executives have been successful nationally as well as globally. The knowledge and expertise in economics have made Wal-mart a global giant. The research completed is the final recommendations by the members of research team C and will address questions regarding global competition and issues of the organizations ability to expand or reduce current operations.

Walmart is one of the biggest companies in the world, but it also has extremely tough competitors. Currently Walmart is the largest retailer in most countries of the world for numerous reasons. For one, they supply a wide variety of items to be purchased that include entertainment, groceries, health and wellness, hardware, furnishing, apparel and many more. Walmart also has over 11,100 stores in over 27 countries according to Market Realist. These two reasons alone give Walmart a huge advantage over its’ competitors. Walmart has both strengths and weaknesses when it comes to its’ competitors not only across the nation, but across the world as well. Some of the main domestic competitors of Wal-mart consist of Target, Costco, Amazon, and the dollar store trinity. Along with that, Walmart has international competition such as Carrefour in France, Metro in Germany, Tesco in the United Kingdom, Loblaw Companies in Canada, and Ahold in the Netherlands. Although Walmart has competitors with all of these companies worldwide, it still remains the “#1 retailer in Canada and Mexico and has operations in Asia (where it owns a 95% stake in Japanese retailer SEIYU ), Africa, Europe, and Latin America”, according to Hoovers. Strangely enough, Walmart is growing more overseas than it is in the United States. Even with all these companies it has to compete with, Wal-mart’s total sales are still almost 5 times its’ competitors. As it generates a net sale of over $483 billion in one year,

Planning, organizing, leading, and controlling—the four management functions—are seen in a variety of business environments. Different factors can have an impact on these four management functions. The factors are: globalization; technology; innovation; diversity; and ethics. These factors as they apply to Wal-Mart, one of the leading retail stores in the world, will be examined in this paper.

Wal-Mart uses a wide range of technology. When a company fails to recognize the importance of technology, the company runs the risk of being overtaken by competition. It uses a merchandise scanning system that let the managers or employees know if the stock on a shelf is getting low so they can be responsive to consumers’ buying habits, and make sure the items they are looking for are there for them (Solman, 2004). Another recent technology that Wal-Mart has implemented is self-checkout registers. This technology has made it easier and faster for consumers. Instead of waiting in long lines, they can just check themselves out and save some time. As this technology replaces employees, Wal-Mart can save the money that they paid to their cashiers. This could

Wal-Mart is one of the most successful retailers in the world (Wal-Mart corporate 2012). Currently, there

For the innovation in the products, the Walmart must adopt the technology and this will help the Walmart in the innovation in the products. For the analysis and the growth of the company, Walmart has overview on four essential strategies which include market development, innovation, product development and market penetration. It is necessary for the Walmart to change the line of its products and switch to the lifestyle products. Due to the change in the taste and fashion, customers demand new products having the new features (Feizizadeh et.al, 2013

In order to understand the success and failure of Walmart Stores, Inc. in markets other than the United States, we

Ans:Wal-Mart,Inc runs a chain of large, discount department stores.it is the world’s largest public corporation by revenue. Walmart is the largest private employer and the largest grocery retailer in the United States. Walmart is one of the best known industries all over the world. Its concentration of a single business strategy is the basis of its success over the decades by this strategy without having to rely upon diversification to sustain its growth and competitive advantage. The leading marketing strategies of Wal-Mart are low prices, service and smile. However by adapting this strategy, it has risked itself by putting all of a company’s egg in one industry basket. While its global strategy worked elsewhere, the results were bad in Germany and Korea that Wal-Mart withdrew from those countries.

The control mechanisms are made up of the four functions of management and this is considered the focused approach of Wal-Mart. The four functions of management are: planning and organizing, leading and controlling. These four functions play a crucial role in monitoring to ensure compliance and providing control practices.

Concepts & Connections 5.1, How Wal-Mart Managed Its Value Chain to Achieve a Low-Cost Advantage over Rival Supermarket Chains