Walmart Political Risks
Wal-Mart
Wal-Mart has a great history of leadership, innovation and success. The founder, Mr. Sam Walton had a vision and traveled the country studying discount retailing because he had a vision of selling quality products at a lower price. He opened his own store, Wal-Mart, in Rogers, Arkansas in 1962. Today, Wal-Mart is the largest retail chain in the world with over 9,000 stores, servicing over 176 million customers, and over two million employees in 15 countries; Mexico, Puerto Rico, Canada, Argentina, Brazil, China, the United Kingdom, Chile, Japan, Costa Rica, El Salvador, Guatemala, Honduras, India, and Nicaragua. Wal-Mart has also expanded with gas stations as well as the Sam’s Club, which opened in 1983.
Mr. Sam Walton had a personal philosophy, “the secret of successful retailing is to give your customers what they want. And really if you think about it from the point of view of the customer, you want everything: a wide assortment of good quality merchandise; the lowest possible prices; guaranteed satisfaction; pleasant shopping experience” (walmart.com). From this, Wal-Mart operates its stores with one main philosophy and that is to provide everyday low prices as well as excellent customer service. Wal-Mart continues to strive for excellence and attempts to come up with new ways to provide excellent customer service and continue to increase revenue and maintain customers. For example, their main competitors are K-Mart and Target but because they strive for great customer service there are greeters welcoming customers to Wal-Mart at every store. This contributes to the fact that Wal-Mart is the number one retailer in the world. Some ways Wal-Mart can continue to be successful is to monitor and maintain the customer service level, always trying to continue to improve products as well as employee relations, and deliver products and services and the lowest price.
When dealing with a larger corporation like Wal-Mart, there are many stakeholders to
Wal-Mart has a great history of leadership, innovation and success. The founder, Mr. Sam Walton had a vision and traveled the country studying discount retailing because he had a vision of selling quality products at a lower price. He opened his own store, Wal-Mart, in Rogers, Arkansas in 1962. Today, Wal-Mart is the largest retail chain in the world with over 9,000 stores, servicing over 176 million customers, and over two million employees in 15 countries; Mexico, Puerto Rico, Canada, Argentina, Brazil, China, the United Kingdom, Chile, Japan, Costa Rica, El Salvador, Guatemala, Honduras, India, and Nicaragua. Wal-Mart has also expanded with gas stations as well as the Sam’s Club, which opened in 1983.
Mr. Sam Walton had a personal philosophy, “the secret of successful retailing is to give your customers what they want. And really if you think about it from the point of view of the customer, you want everything: a wide assortment of good quality merchandise; the lowest possible prices; guaranteed satisfaction; pleasant shopping experience” (walmart.com). From this, Wal-Mart operates its stores with one main philosophy and that is to provide everyday low prices as well as excellent customer service. Wal-Mart continues to strive for excellence and attempts to come up with new ways to provide excellent customer service and continue to increase revenue and maintain customers. For example, their main competitors are K-Mart and Target but because they strive for great customer service there are greeters welcoming customers to Wal-Mart at every store. This contributes to the fact that Wal-Mart is the number one retailer in the world. Some ways Wal-Mart can continue to be successful is to monitor and maintain the customer service level, always trying to continue to improve products as well as employee relations, and deliver products and services and the lowest price.
When dealing with a larger corporation like Wal-Mart, there are many stakeholders to
References: Global 500. (2011). Retrieved from http://money.cnn.com/magazines/fortune/global500/2009/ Datacert. (2011). Retrieved from http://walmartstores.com/aboutus/297.aspx Hayden, P., Seung, L., McMahon, K., & Perieira, M. (2002). Wal- mart:staying on top of the fortune 500