Wal-Mart QuestionsQ. 1 What impresses me about Wal-Mart is the company’s mission which is “Giving ordinary people a chance to purchase same goods as rich people. ” The company’s vision is also impressive as it states “To become a leader in retailing worldwide. ” The company was founded in 1962 also aims at helping people to save money in order to improve their living standard. Wal-Mart also is said to be the biggest retailer of grocery and a major private employer. Sandra and According to Charles (2006) the company generates about 50 percent of sales from the grocery business and has therefore focused in opening more retail warehouses for example it owns about 8,500 stores which are located in more than 15 countries.
Wal-Mart Company operates with a different name in various countries for example in Mexico it uses Walmex, in UK it uses Asda and in India it uses Best price. Wal-Mart Company has also developed various places for example through job creation. It aims at creating about 10,000 jobs in Chicago by 2015. The plan was made so as to promote community development and to enable more people to improve their life.
It also advocates for zero rate waste. According to Pallavi (2007) Wal-Mart Company has eliminated about 80 percent of waste for example in California it has promoted environmental care. The company has also contributed about $5million for helping the Japanese victims of the earthquake and tsunami. It has also partnered with Humana Medicare in order to provide savings on premiums and cost shares. Wal-Mart’s mission is to enhance and integrate supplier diversity programs where it will be categorised in procurement practices.
These practices advocate for minority people in the society especially enabling women to open their own businesses. Some of the ingredients that have contributed to the success of Wal-Mart include the strengths and virtues of the company’s founder. This is due to his overriding vision and unchanging values. He also had the bravery to undertake several business risks and strength in motivating and inspiring employees and partners (Held et al. 1999). Wal-Mart’s success aspectsSome of the factors that have contributed to the success of Wal-Mart over the past 25+ years include great strategy, superb strategy implementation and execution and great leadership.
However the major factor is its great strategy for example the company’s international strategy is to remain local in terms of the process of offering goods, the use of local suppliers and its way of operation. The company’s standard of operation has also contributed to its success for example by responding to local communities and cultures. The company also maintains the needs and preferences of the local communities and suppliers (Charles 2006). Unimpressive aspects of WalmartSome of the unimpressive aspects of the company includes where it uses the approach of getting the lowest possible price from its suppliers in order to sell at cheaper price and attract more customers.
This approach may be beneficial to the company but on the other hand it is exploiting the suppliers who sell at low prices. This approach is meant to capture a win-win cost saving for the company’s supply chain.