Wal Mart Stores, Inc Essay

3608 words - 15 pages

WAL-MART STORES, INC.Wal-Mart is operating a mass merchandising retail store in all 50 states ofthe US under a variety of formats, Wal-Mart Stores Inc. as Wal-Mart scores anumber of 'tops' in its businesses. It has the largest discount department storechain in the world, largest retail firm in the US and largest retailer in the world,the wealthiest and most powerful corporation in the world. And more recently,Wal-Mart gained the top spot of the most admired company in the world.Sam Walton, a leader with an innovative vision, started his own companyand made it into the leader in discount retailing that it is today. Through hissavvy, and sometimes unusual, business practices, he and his ...view middle of the document...

Thesephilosophies, in my belief, are 'religiously' nurtured into the hearts and minds ofemployees who are more known as associates in Wal-Mart.Sam Walton advocated 10 rules known as 'Sam's Rules for Building ABusiness'. These are the key factors that guide and inspire the company'soperation, behavior, ethics and practices. All levels of Wal-Mart employees alsoadhere to a corporate directive of the 'Sundown Rule' and the 'Ten Foot Rule'.This requires that an employee must reasonably answer a customer's orsupplier's request or question within 24 hours whereas the latter rule states thatstore employees must greet, smile and attend to a customer in a store whenwithin ten feet of them.Wal-Mart's weaknesses the clear dynamic prowess and success of Wal-Mart makes it hard to conceive of its weaknesses even in this competitiveenvironment. As evidenced by its position in Fortune 500, its balance sheets andits sheer size and growth. The pitfalls that befell me was gaining insight on Wal-Mart's dominance as it's now extending internationally.Wal-Mart gained entry into a nation by corporate take-over of a nationalretailer. It is able to do that by capitalizing its size and wealth. In one stroke, alarge competitor is eliminated at once, it gains real estate and employees and asignificant presence in its targeted locations. Wal-Mart builds up brand familiaritywhile retaining the old familiar outlets and then build new and larger stores in thenew market. Wal-Mart is now the largest retailer in Canada and UK only after itsentry in 1994 in Canada and 1998 in UK! And it's not stopping there. It seemeddifficult to gain much international insight regarding Wal Mart's competitionoverseas and creating comparison with other American companies and how theyfaired once going international.With that insight I want to lead into what companies both on a nationaland international level which could be possible threats and indications now thatWal-Mart's rivals in the industry have 'shied' away from the dynamism of Wal-Mart's growth by leaps and bounds. Perhaps the more worrying threat couldeven come from its internal affairs. To some extent, Sears, Kmart and Target areno longer deemed to threaten Wal-Mart's market share who have dominatedcustomers wherever it operates with its powerful domination strategy. Thisstrategy has a double-edged function to the point of putting competitors out ofbusiness.Challenges that face Wal-Mart as they strive to expand and grow anddeemed progressing, enjoying year after year of growing revenues. However, ithas growing potential cultural challenges in the international market. Wal-Martmust be willing to bend its uniformity to reactions of the local culture in enters. InCanada for instance, Wal-Mart's over patriotic style and publishing its circular inEnglish to a mostly French speaking population did not work well. Its pricestrategy also did not work well in Germany where price-fixing by the governmentis commonplace.Labor and Community Relations....

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