The paper “ Fundamentals of Business Administration and Management in Wal-Mart” is an affecting version of a case study on management. The need for starting Wal-Mart as a business organization was mainly to offer low and affordable products at the retailer’ s prices. There was also a need to create employment opportunities for the citizens of the United States and its immigrants. The management team who pioneered Wal-Mart stores had seen the need to avail products to all people regardless of the social-economic status. Besides the owner wanted to progress in business and he viewed subsidized prices as the best bet for market penetration and dominance.
(Basker, 2004) With its mission being to give ordinary folk the chance to buy the same thing as the rich, Wal-Mart is really working towards accomplishing its mission. Most of its products have price tags that are accommodating to the entire community. Upon accepting a job offer at JC Penney stores Sam Walton met a regional retailer by the name of Butler Brothers. The retailer owned various stores by the name of Ben Franklin. He inspired Walton to witness by offering him one of his many stores in Newport.
He later opened another store at Bentonville where he managed to acquire increased sales volume by selling his products at considerably lower prices compared to his competitors. It was in the year 1962 that Walton managed to open the first Wal– mart discount city in Rogers within Arkansas State. Five years later his business had achieved successful growth since he had opened twenty-four retail stores in the same state and recorded higher sales targets. By 1968 Walton ventured beyond Arkansas by opening branches at Sikeston in Missouri state and Claremore in Oklahoma State.
(Basker, 2004) Later in the year 1969, the outlet store was incorporated as Wal-mart stores when it opened its home office in Bentonville to be its center for distribution services. By then the company had opened 38 stores with a record of 1500 workers and over 44.2 million dollars sales revenue. This qualified the firm in joining the New York stock exchange where it began trading its stock as a publicly held company in the year 1972. (Basker, 2004) By the year 1975, the company had employed 7,500 people in its 125 stores and was achieving sales revenue of more than 340 million dollars.
At this time, it had explored more than eight states i. e. Texas, Mississippi, Kentucky, Tennessee, Oklahoma among others. The company had been achieving rapid growth in most of its stores thus employing more people as well as constructing new branches. In the international arena, Wal-Mart has stores in Japan by the name of the Seiyu Co. LTD Mexico as Walmax and the UK under the name ASDA. In Brazil, Canada, Puerto Rico, and Argentine the company has wholly-owned operations.
How ever, the company was liquidated its stores in Germany and South Korea. (Abigail, 2006) At the moment, Wal-Mart has more than 4000 stores in the United States, however, its growth is believed to be declining for having created fewer job vacancies in the last two years compared to the other 3and years. This has impacted negatively to the US economy since Wal mart stores carvings depend on the economic growth of various nationals.