...Walmart has grown not only nationally, but also has been growing internationally. Walmart’s globalization strategy always has not been planned very well. An example of this lack of planning was the time they first entered Asia. They did not know much about Asia, and they “did not factor in the broader ecosystem- how customers come and go,” choosing inconvenient locations for the customers (Mahajan-Bansal, 2009). However, as they have grown internationally, they have managed to learn as they go along, and make improvements. They have organized and become a leader in retail. As they have monitored their progress, they could see some of their mistakes and correct those mistakes, such as paying attention to the economy of the country they are operating in. “Walmart’s approach to technology innovation is to start with the customer and the business process — and then see how technology can help, said the retail giant's Chief Information Officer Rollin Ford” (Garry, 2010). One idea for planning the advancement of technology was to ask employees for their input. They were asking 2.1 million employees for suggestions on energy management, and saved over $1 million dollars (Garry, 2010). In June 2007, Walmart announced “a series of financial services to its customers, through Walmart Money Centers (check cashing, bill payments, and international money transfers). Also, Walmart will issue a Walmart MoneyCard, a prepaid Visa card, which will cost $8.95, for buying gas, and for shopping...
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...ethics, diversity, and innovation. For the Walmart Corporation, the internal and external factors are applied towards maintaining their position as a leading retailer. A comprehensive strategic plan includes a situational analysis that considers internal strengths and weaknesses. Walmart’s current strengths and weaknesses provide a wealth of insight helpful in accomplishing internal goals and internal analyses can provide advantages for achieving external goals, as well. External opportunities include things such as gaps in the market that no company is currently serving, new markets and other clear growth opportunities. External threats include new product releases from competitors and new competitors arising in the market. Globalization Globalization is a process of interaction between companies, people and governments of different nations. Investments and international trade guide this process. Information technology is also an important part of this process. Environment, culture, economic development and political systems are all effected by globalization. Many think globalization is a new process but quite the contrary. For many, many years’ people have been buying and selling goods to each other in lands far away. In the same fashion, people and corporations have invested in businesses in other countries. Wal-Mart is one of those corporations. In 1962, Sam Walton founded Walmart. He...
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... Organizing is described as “assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals.” (Management, Pg. 15) After a manager has implicated a plan, they would then want to organize the plan by delegating authority, assigning work and providing direction to the employees. Controlling is described by “monitoring performance and implementing necessary changes.” (Management, Pg. 15) After a goal has been completed, the manager may monitor the performance by employee that may include, but not limited to, monetary goals, reducing customer complaints or simply meeting a quota at a specific time. Walmart is an organization that uses strategic planning and organizational tools successfully to manage and market technology. Walmart is well known throughout the world, using technology to heighten their sales, along with innovating new ways to make their organization grow a very diverse culture and try to be as ethical as they...
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...and management of resources. This report contains both primary and secondary data analyses, where secondary data was collected through libraries, books, scholarly articles, peer journals and articles. Whereas, the primary data was collected from 20 employees of the Wal-Mart, where series of open ended questions were asked from them. The survey aimed to identify the current problem faced by the Wal-Mart and how those problems are affecting the employees of the Wal-Mart. In the report, different management development activities that have been employed within the Wal-Mart, where to overcome the problem, future strategies are also suggested, along with the benefits that will be laid on the organization. These development programs include, diversity management, manager - employee relationship, employee involvement and feedback, bridging gap between today and tomorrow, focus on individuality and matching skills with goals. The estimated cost for the program will be £100,000, which will be spent over a year’s time. Therefore, this report is based on the human resource, organisational resources, and management of all these resources efficiently, and is an ideal strategic plan that may be implemented at Wal-Mart for their successful performance and problem solving in the future. Table of Contents Executive Summary 2 1.0 Introduction 4 1.1 Introduction to Wal-Mart 4 1.2 Data Collection 5 1.2 Management Development at Wal-Mart 6 1.3 Wal-Mart’s Current Theory...
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...1 Internal and External Factors Of Walmart Quashada Rogers MGT/230 11/17/2014 Dick Hobbs 2 INTRODUCTION Management is a vital instrument for the success of any corporation. In any company, it is the duty of management to organize events and use all available materials/resources to meet precise needs and objectives while complying to company policies. Managers are and play an important role in any corporation; giving it formation and providing a uniformed line of correspondence necessary to sustaining operations. Diversity and ethics play a huge role in a corporation as it takes the different aspects of a corporation and display the values used for decision-making. There are many different factors that affects all management functions but when used properly by an corporation it will help stay ahead of its rivals. Using Walmart, a multi-billion dollar department store, as an example, the following will give an explanation of how internal and external factors like technology, globalization, innovation, ethics and diversity affect the four functions of management. External/Internal Factors The four functions of management (organizing, leading, planning and controlling) and the way they’re affected by internal and external factors effects the way that management makes determinations...
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...ORGANIZATIONAL ASSESSMENT Organizational Assessment Sherry Crowe MGT416 Operations Management A02 Dr. Carson March 19, 2014 Argosy University The Wal-Mart Corporation On May 9, 1950, Sam Walton opened up Walton’s 5&10 in Bentonville, Arkansas. The first store with the Wal-Mart name, opened in Rogers, Arkansas in 1962 and was financed 95% by Sam Walton himself. Since its beginning in Arkansas, Walmart has helped millions to save money and live better. Walmart has changed from being a retail store accessible with set hours to be available anytime and anywhere for their 245 million customers. Walmart offer its 245 million customers retail shopping in 11,000 stores under 69 banners in 27 countries and e-commerce websites in 10 countries (Wal-Mart Stores, Inc., 2013). The company is considered one of the largest employers in the world; Walmart employs 2.2 million associates worldwide. In the U. S., Walmart Supercenters, Neighborhood Markets, and Sam's Club warehouses comprise the choices of Walmart stores to which customers have access (Wal-Mart Stores, Inc., 2013). As Walmart continues growing successfully the corporation has experienced global success, which has led the corporation to be in constant of change of strategies that provide that the corporation continues fulfilling its mission while offering new products, bettering the human resource management and developing its personnel, and expanding its social responsibility by helping the different communities where stores...
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...Internal and External Factors Brooke Ellington October 13, 2013 University of Phoenix XMGT/230 Sam Walton opened the first Wal-Mart store in Arkansas on July 2, 1962, (Carson, 1999-2013). The vision of Sam Walton for his store Wal-Mart was to provide lower prices and to reflect on the values of the community and the customer. Consumers remember Wal-Mart for its motto "customer satisfaction" and “guaranteed lower prices." Wal-Mart offers employee training for everyone in the store from the greeters to the managers to ensure excellent customer skills and to instill Sam Walton's philosophy in the consumers mind. Wal-Mart's growth leads to the company becoming incorporated in 1969 that has led to stores opening in the nation and globally. Celebrating 50 years of helping communities and customers, Wal-Mart has more than 10,000 stores in at least 27 countries (History Timeline, 2012). Sam Walton has proven successful management using the four functions of management to grow his business. The four functions include planning, organizing, leading, and controlling. Wal-Mart's success in various levels of management has led to multidivisional structures. Wal-Mart has 13 divisions of strategic management that offers traditional functional areas and geographic areas in the retail operation. The purpose of this paper is to explain how internal and external factors affect the four functions of management in the Wal-Mart Corporation. For any organization to survive, irrespective of...
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...internationally, Walmart has been giving communities access to a better life, one by one. They have stated that their mission was to “create opportunities so people can live better,” and they do so by giving grants, donations, volunteer efforts and etc… Are the functions the same for everyone in society (explain, don't just say "yes" or "no")? Yes, I believe that the function are the same for everyone in society. Although it does not impact at the same thing, and give the same results, it does serve the same function. Meaning Walmart’s...
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...Internal and External Factors Paper Wal-Mart is a not only a retail business but an organization that everyone has either heard about or shopped at. As a leading organization, Wal-Mart has employed a total 2.2 million associates around the world, with only 1.3 million hired with in the U.S. (Wal-Mart Stores, Inc., 2014). There are several internal and external factors that affect the four functions of management. As Wal-Mart continues to strive towards success, globalization, technology, innovation, diversity, and ethics are all factors that affect Wal-Mart being one of the largest organizations in the world. Internal Factors Such is the case for every organization that wants to continue to expand and remain lucrative; the core of that company is their management. Management has four very important functions which keep their business and their employees afloat and those are planning, organizing, leading, and controlling. This format that management follows is no different when it comes to Wal-Mart. Wal-Mart is a company that continues to expand at a rapid pace due to the low prices, large availability of items, various services offered, and the customer experience when they come to the store. Inevitably, just like any other company, they will have some internal and external factors which may make certain situations on the job tougher. Examples of internal factors which could affect the job duties of a manager would be employees who do not want to work or are unmotivated...
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...Wal-Mart’s Internal and External Factors Jessica Kiernan MGT/230 May 26, 2014 Terrell Kennard There are many ways that internal and external factors affect the four functions of business. The four functions of business are planning, organizing, leading, and controlling. All functions are vital when running any successful organization and should be taken into account at all times. Globalization, technology, innovation, diversity, and ethics are some examples of the different types of factors that could affect these functions of management. Although they can affect them in different ways, they are all factors that have a certain standpoint in the business world. Successful strategic management depends on an accurate and thorough evaluation of the competitive environment to include the resources, the competitive market, and a product line that will meet the needs of the people where a new warehouse will be constructed (Bateman & Snell, 2011). However, external factors do exist such as potential growth of the industry, major competitors, social issues that could affect the industry, labor issues, technological needs, and economic factors. With this in mind, Wal-Mart believes that being the first U.S. retailer of these markets will give them a competitive advantage over the next decade because by the time the rivals enter the overseas markets, Wal-Mart will already have established a good presence and understanding of the culture and shopping needs...
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...to increase thinking, creativity, and productivity, which can help in better decision-making and can help increase its profits. The intent of this paper is to decide which competitive advantages Riordan has in common with the companies researched last week, and estimate, which competitive strategies Riordan could use to improve innovation and sustainability of business operations both in the United States and in the global market. In addition, Team A will explain why the competitive strategies were chosen and will estimate how they may affect sustainability of long-term organizational performance while explaining how the global market would affect the business strategy of Riordan. Riordan Manufacturing Riordan Manufacturing is company known for their manufacturing of plastics globally. Riordan produces plastic beverage containers, custom plastic parts, and plastic fan parts from their facility in China. Riordan has become a Fortune 1000 company and has done well. Riordan expanded to China and that facility, at the time, employed more than 300 employees. Riordan has had to consider current business operations, the economy, and cultural diversity concerning forecasting for the company. Riordan Competitive Strategies One strategy of Riordan is the use of history tracking on sales. The weakness is that their sales database and their files of pat marketing research, plans, and design awards should...
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...Top 100 Most Valuable Global Brands in 2013 Brand Value, Mission & Vision: APPLE Brand Value: Founders of Apple Steven Wozniak and Steven Jobs both dropouts of school Apple was incorporated in the state of California on January 3, 1977 Apple II debuted at a local computer trade show No. 20 on “Brand of the Year 2009” award The recession won’t take a bite out of this Apple Revenue of first quarter $15.68 billion in 2009 ($3.98 billion more than 2008). Apple has a branding strategy that focuses on the emotions Lifestyle & simplicity “ Easy use” Religion = Trust, safety, Loyalty & love It is a big tribe, everyone is one of them. You are part of the brand Brands are more important than products. Designed in 1977 The Apple logo is one of the most famous logos in the world The mystery of identity Computer term ‘byte’ Stripes to rebel Aqua logo 2001. It's always about people “ For Apple it is not about money. It is about the people you have, how you are led, and how much you get it. Apple are no longer selling products, they are selling brands. Apple is gaining market share in every category and, given the premium price of their products, that is a significant achievement. Mission & Vision: Apple recognizes that by integrating awareness of the environment, health and safety management practices into all aspects of our business; we can offer technologically innovative products and services while conserving and enhancing resources...
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...Johnson & Wales University Providence, Rhode Island College of Management Marketing Final Project Walmart MTKG 5500 Spring Term 2015 Professor Kim By: Andreas Ulrich, Chia-Yi Lin, Lauren Hahn and, Min Zhang May 13th, 2015 Abstract This document discusses how Walmart is one of the largest retailers in the world with how the mass production utilizes its resources to be cost effective in its selling price of all their products which makes the brand very well known in this aspect. Walmart has evolved since it first began the company and has changed their marketing strategy to better suit their customers’ interests and demographics. The company has become well known internationally for the brand image Walmart created for them and sets them aside from their competitors. Their excellent marketing strategy stems from the four P’s of price, product, distribution (place), and promotion. The pricing is low, but efficient from the cost control of the resources they obtain. The products walmart issue to the product range varies according to the needs of customers. The distribution is industrialized internationally and continues to expand. Walmart uses the differentiated strategy to target their customers. The organization utilizes product diversity, low- price strategy, e-commerce, long-term growth strategy, and technology innovation for future business. However, there are suggestions that were made for better expansion were product development, different approach...
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...strides to continue growth into the future. After reviewing strategies from to large retail corporations, do their strategies have anything to offer to the new entrepreneur starting their first business? Wal-Mart Corporation has been part of most communities for many years being the stable for everyday shopping. They carry everything from home goods to a full grocery store and most even have some type of medical office (optician to wellness center), making Wal-Mart a one stop shop for every consumer. Based on my own personal experience, Wal-Mart has been the store I chosen when something was needed during odd hours, in a rush, or when they have a special sale. One thing I have always noticed is the wide diversity of its work force and it’s cliental. From old to young, from every race on earth, Wal-Mart tries to make everyone fell welcome once you enter the store. The Target Corporation has been around since 1962 opening its first store in Roseville, MN. While I do most of my shopping here, I have found that when one of the retail companies makes a change, the other is soon to follow. In the area I live, both companies are very close to each other, and they are competing over the same dollar. Both Target and Wal-Mart offer the same commodities, yet each offer unique brands and lines of products that are tied to each of the corporations. In my personal opinion, I find that I prefer to go to Target over Wal-Mart any chance I can. I find that Target...
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...company must provide product or service in an exceptional way to surpass customers’ expectations. Though we appreciate Walmart green and innovative inventions as a part of sustainability initiative but there has been an increased concern that Walmart offers substandard products, inferior quality, poor customer service, obsolete products especially considering clothing line, and overall negatively impacts the health of communities Provide superior customer service and quality There has been an increased concern that Walmart offers substandard products, inferior quality, poor customer service. For example: Adidas AG, the second-largest maker of sporting goods globally, said that a house brand of shoes sold at Wal-Mart may injure those that wear them. Now that's quite a statement about product quality. Providing superior customer service and quality is vital to having success in any business. A customer is prone to buying a product from a company again when it appears that the company has surpassed customer expectations. And, Wal-Mart Inc. one of the most profitable companies in the world, attributes exceeding customer expectation to the deceased CEO and company founder, Sam Walton. Providing superior customer service and quality with cost value proposition will increase profitability, enhance customer relationship and bolster the Walmart objective of sustainability. Pay attention to changing...
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