Innovation is important in any business; it can create jobs, promote growth, and determine the success of the business. Innovation can deliver organizational sustainability as an effect of continuous improvements and may cultivate creativity within the business. When creativity exists growth is achievable, it also opens the door for many more opportunities and provides the potential for new business and markets. One of the world’s largest and most success company’s is Wal-Mart Store Incorporation; it has changed the way Americans shop and is well-known for its focus on low costs and low prices, one-stop shopping, environmental, and community contributions (Plambeck and Denend 2008).
The founder of Wal-Mart, Sam Walton stated, "If we work together, we'll lower the cost of living for everyone...we'll give the world an opportunity to see what it is like to save and have a better life,” this slogan was a reflection of ...view middle of the document...
They have super exceed the average grocery store expectation, the general Wal-Mart Discount, Supercenter, and Wal-Mart Market stores not only offer general merchandise and groceries, but also a financial service with Wal-Mart Money Centers, a pharmacy, optical center, Tire & Lube Express, photo lab, local bank branch, fast food outlets, garden center, hair and nail salons, and some have gasoline stations. Along with many of these services, Wal-Mart’s online retailer allows the consumer to shop, without physically stepping foot in the store. Focused on the consumer’s needs, Wal-Mart teamed up with Jackson Hewitt Tax Service, embracing innovation by adding a kiosk tax preparation service for its customers in many of its stores (PR Newswire 2012).
Today, the company has gone green, meaning decisions are more towards reducing its environmental footprint and goals are more for protecting the environment, which in return increases profitability. Wal-Mart sells products that sustain resources of the environment and it is good press. Some of their delivery trucks are bio-diesel, which runs on reclaimed grease fuel made out of waste cooking grease extracted from Wal-Mart stores instead of clogging up drains the grease goes to good use. Another example is offering organic products such as organic baby clothing and groceries. Now days, many consumers are a little more health conscious and more educated, when it comes to choices that are healthier for them and their families they may spend a little more than for that comfort. Furthermore, the company sells locally grown produce, allowing the consumer to get involved within their own community effortlessly ("Store Wars", 2004).
Jackson hewitt tax service(R) named supplier of the year by walmart financial services. (2012, Mar 22). PR Newswire. Retrieved from http://search.proquest.com/docview/929839363?accountid=458
Plambeck, E. L., & Denend, L. (2008, Spring). The greening of WAL*MART. Stanford Social Innovation Review, 6, 53-59. Retrieved from http://search.proquest.com/docview/217171786?accountid=458
Store Wars. (2004). Retrieved from http://www.pbs.org/itvs/storewars/stores2.html
("Store Wars", 2004)
(PR Newswire 2012)