Walmart and the Elements of Business

1486 WordsOct 12, 20106 Pages
Walmart and the Elements of Its Business Molly Taylor American Intercontinental University Walmart and the Elements of Its Business The history of Walmart is quite interesting and goes all the way back to the 1960’s. Walmart was started by a man named Sam Walton and his brother. Mr. Walton had a degree in economics and used this degree to secure a management trainee position at JC Penny’s. With his degree and experience he gained working at JC Penny’s he, along with his brother, opened a Ben Franklin store. By the late 50’s they owned 9 Ben Franklin franchises. Mr. Walton and his brother had a vision to bring large retail stores with low, low prices to small towns. They took this idea to Ben Franklin franchise owners…show more content…
It has been said in the recent past that Walmart says they treat their employees well but there have been cases recently where this was found not to be true unfortunately. Treating employees unfairly could have a negative economic impact on the community because if workers aren’t treated fairly then no one wants to work for the company that’s not treating their employees well. Which then has a domino effect because chances are, if that’s the case, then people will begin to bash Walmart driving consumers away to possibly purchase from other retailers. This would not be a positive economic environment at all and the chances of the business failing would be pretty good. To best maintain a thriving legal, social and economical environment Walmart needs to have in place a good management structure and for the most part I think they do. If they didn’t they would not have risen to be one of the largest retailers in the world over the past almost 50 years. They have a company-wide management structure that all stores abide by. This structure includes planning and promotions, goal setting amongst employees, organizing how operations flow on a day to day basis, directing its employees and controlling finances. In order to operate Walmart has to provide services to consumers and make a profit off providing these services. To do that Walmart must constantly stay on top of how the stores are run on a daily basis. To operate a business and be
Open Document