Wal-mart
2013
Principles of Management
Wal-Mart and Effective Management
Karwan S. Othman
Wal-Mart, United States Of America

Wal-Mart at Its Peak Wal-Mart is the largest retailer worldwide; the reasons may vary from different functional fields of the company. Fifty years ago, the company started the business based on the lowest prices that could be offered to customers. Since then, Wal-Mart is “Everyday low price” pricing strategy to maximize the sales as much as possible. Besides of that, it is using the current technology to keep track on every single sale at each store among all the stores in around forty countries. New financial systems through the new technology being in charge enable the company to manage the financial systems of each single store. Wal-Mart’s mission is to get to zero waste and highest sales among the other retailers. It is been said that Wal-Mart is doing the best of retailing, and it is because of various aspects of the organization although I believe planning, low pricing, using modern information systems and controlling strategies are the most vital characteristics of the organization’s triumph. Wal-Mart is established based on lowest prices possible for customers, and that is one of the most significant factors of the company’s success. Everyday low pricing, EDLP is a strategy that organizations use to offer low prices than common prices of products which would encourage customers to purchase without waiting for sales. According to the article on businessinsider.com, “Retailers are trying to replicate the success of Wal-Mart Stores Inc., the world's largest retailer that was founded 50 years ago on "everyday low" prices. Experts say Wal-Mart's strategy has worked because it built its reputation on being able to offer customers the lowest prices every day,” wisely, Wal-Mart is using this strategy to attract customers though