Wal-Mart Store Company Overview Term Paper

1294 Words6 Pages
Wal-Mart Stores, Inc. Executive Summary Wal-Mart has grown to be the world’s largest retail and grocery store with sales soaring to $419 billion in fiscal year 2011. Wal-Mart employs over 2 million associates worldwide in 9,600 retail units and operates in 28 countries. Wal-Mart has enjoyed its success since 1962 when the first store opened in 1962 in Rogers, Arkansas. Wal-Mart was founded by Sam Walton who envisioned a retail store that could “save people money to help them live better.” Sam Walton opened his first store in 1962 as a private investment (95% of the capital came from Sam and his wife Helen) and went public on the NYSE in 1972. Sam Walton’s secret was to give your customers what they want and to determine their…show more content…
Wal-Mart’s competitive advantages over other retailers in their market are by keeping prices low every day. Wal-Mart has diversified its business advantage by opening new stores in other countries and adding to their inventory of stores and business. New stores are emerging as superstores, warehouse stores (Sam’s Club), Neighborhood markets, Wal-Mart Express, Marketside, and Wal-Mart.com. Wal-Mart continues to bring in new suppliers and different products to continue their success in capturing sales growth. Wal-Mart continues to flourish in the U.S. by providing branded products at low cost. Wal-Mart has had much success due to some of their control systems put in place by Sam Walton and added to as time has passed. Each store has a real time information system that transmits data on profits, inventory, and performance. This data from outstanding stores is used to improve operation in problem or poor performing stores. In essence, the data is used to rapidly fix a problem area and quickly adapt to needs of a store. Wal-Mart has always listened to employees and has offered them incentives to help in store success. One system is controlling shoplifting as this one of the significant costs for retails and Wal-Mart. The incentive program addressed the shoplifting issue and by reducing loss employees are rewarded. Sam Walton in the early history of Wal-Mart placed a process requiring
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