Wal-mart Stores Inc is a United States based company started in 1962 in Arkansas. The company has grown exponentially to open branches in many parts of the world. It operates in three formats: United States based segment, abroad/international segment, and Sam’s Club. Through the three segments, the company owns and runs stores (retail and discount), chains of supermarkets and supercentres, and websites affiliated with the company. In those stores and supermarkets, one can buy foodstuffs, beverages, dairy products, and meat, among many other foodstuffs, electronics, accessories, cloth ware, and many other things.
More than retail, the company offers financial services through banks and electronic payments. The company’s retail units are estimated to be around 10,800 all spread in about 27 countries all over the world. Wal-mart Stores Inc. has been listed in top 10 of the world’s 500 biggest companies by Forbes (Fishman 16).
An analysis of the company reveals that it is growing remarkably well in spite of the turbulent economic times being experienced in America and many parts of Europe. Corporate and business strategy formulated by the company have enabled it transcend many challenges that have littered its path of progress.
This paper will identify the company’s current mission and review its strategies and objectives. The financial status of the company will be analyzed by using financial rations, income data, and balanced sheet data. Additionally, internal strengths and weaknesses will be analyzed using SWOT model. External opportunities and threats will be analyzed using PESTEL and Porter’s five forces model analysis. Based on those analyses, the mission and strategies of the company will be revised.
The Term Paper on 759 store Competitive Business Strategy
Introduction Strategic planning is central to management study. It defines the long term direction for the company and all other business functions orbit around their established strategies. This article studies how a company formulates business-level strategies, optimize their competitive positioning and obtain a competitive advantage over their rivals. In order to further illustrate this ...
Corporate and business strategies that will enable the company achieve its mission and objectives will be developed and discussed, and appropriate recommendations made. Actions needed to implement the strategies that will be formulated will be outlined. Appropriate long term objectives in areas of marketing, human resources, finance, operations, and information systems will be developed. The results expected will be specified including pro forma financial statements. Lastly, procedural recommendations will be made for strategy review and evaluation. Specific measures to be utilized will be documented.
Mission, Objectives, and Strategies Wall-mart growth in recent years has seen it overtake other companies to become the biggest retailer in the world. With a customer base exceeding 200 million customers annually and over 2. 5 million employees, the company’s sales are expected to surpass the $2 billion achieved in 2012 (Roberts, Bryan, & Natalie 14).
Low prices and provision of high quality customer care service continue to be the drivers of the company’s growth. The strategies have revolved around attracting and retaining customers by low pricing and great customer care services.
The low pricing is achieved by constant pressure on suppliers to lower their prices and redesign all services and products. The company’s mission is summarized in one sentence, “Save people money so they could live better” (Roberts, Bryan, & Natalie 34).
Their objective is thus to lower the prices of their commodities so that customers are happy and satisfied. The low price strategy is premised on the knowledge that large volumes dispensed at a low price will compensate for the lowered price. By putting customers first, the company has survived tough economic times.
The Essay on 3M Company Strategy
1) How does your company handle strategy? How does your company handle strategy? Minnesota Mining and Manufacturing, also known as 3M, is one of the world’s premier manufacturing companies. The 3M Company handles strategy like mostly any other business. The number one reason people go into a business is because they want to make as much money as possible. This can be accomplished if they ...
Through its management strategy, transitions have been achieved efficiently. In recent years, the company has formulated a public affairs strategy that is meant to help it penetrate new markets, in the United States and Internationally. Political climate inevitably determines the success of a company. For that reason, Wall-mart has commissioned a political action committee that is tasked with the responsibility of networking with politicians that will help the company realize its goals in various places around the world. The company has short and long term objectives geared towards maintaining growth.
The objectives are aligned to the strategy of low price and customer satisfaction. In the short term, Wall-mart intends to achieve a 95% level of customer satisfaction. In the long term, the company plans to stock all kind of merchandise for diverse customers retailing at low prices. In 2012, Wall-mart launched five central strategies for growth (Roberts, Bryan, & Natalie 24).
The first strategy, developing our people, recognizes the supremacy of customers and empowered employees in any business venture. It aims to develop existing talent within the company by use of development programmes.
The company also seeks to recruit new talents that are exceptional so as to remain competitive. Towards this strategy, the company plans to partner with Walton Institute and enhance its leadership series so as to produce the next generation of leaders for the company. There are plans to improve diversity and inclusivity in the hiring process. The company has thus committed to champion affirmative action by hiring women and other marginalized groups and investing in their career development. The second strategy is driving the productivity loop.
The company aims to lower operation cost so that prices can be reduced further. The third strategy, labeled Wining in Global ecommerce seeks to harness the power of information technology in driving growth. The launch of @WalmartLabs is the precursor to this strategy and there are plans to replicate it in other countries such as Britain and Canada. With a growing online population, the company plans to expand its presence in social media so as to reach as many people as possible. The fourth strategy involves reinvigoration of the customer-centered culture.
The Term Paper on Marketing Strategy For Wal mart
Marketing Strategy for Wal-Mart Mission Statement The mission of this paper is to define the best management strategy for Wal-Mart Corporation. In order for us to come up with recommendation of how to increase Wal-Marts commercial effectiveness, we will have to analyze different aspects of companys operations. In its turn, this will require an understanding of what defines companys commercial ...
The growth of the company has been driven by the company and as indicated earlier, there is a strategy to hit a 95% customer satisfaction. The last strategy is directed towards retention of legitimacy and maintaining a good relationship with the society and community around the company’s premises and beyond. Dubbed Leading on social and environment issues, the strategy will drive Wall-marts corporate social responsibility activities. Through philanthropy, educational support, and women empowerment, the company intends to promote and maintain its corporate integrity.
