...large retail discount stores and chains such as Wal-Mart, Target and Kmart for example all have a company mission, vision, and value’s statements which help them to perform at optimum levels of operations. Missions, vision and value statements: the overall goal is to provide the organization with their purpose; which is the case for these retail chains in the U.S. The mission, vision and value statements aid each chain to define their brand, culture, and consumer relations. Each retail chain differentiates them-selves by providing unique good and services to their consumers, more-over their mission, vision and values statement must also be unique, enabling them to stand out form each other. The big players in the discount retail market are Wal-Mart, Kmart, and Target. (retailindustry.about.com) Supporting Paragraphs Both mission and vision relates to an organization’s purpose and are typically communicated in some written form. Mission and vision are statements from the organization that answer questions about which we are, what we value, and where we’re going. (Coffman, Freire, Heaver, & Soltis, 2002) Mission statements are often longer than vision statements. Sometimes mission statements also include a summation of the firm’s values. (Cady, Wheeler, DeWolf, & Brodke, 2011, p. 70) Values are the beliefs of an individual or group, and in this case the organization, in which they are emotionally invested. A vision statement, describes what an organization’s purpose and...
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...Wal-Mart Financial Analysis Well everyone knows the history of Walmart, the great American success story, or do you? Let me fill you in. In 1950s Sam Walton opened his first store in Arkansas with the believe in fair play and providing American produce goods at low prices and undercutting his competition by keeping his profit margin even lower. Mr. Walton was able capitalize on this philosophy through cultivate his business and leveraging capital by means of encouraging managers and associates to take advantage of his situation and become stakeholders thereby inspiring the manager’s and associates to improve their skill sets and take ownership and pride in the business. In the 60’s, the first true Wal-Mart open its doors permanently. By the 80’s Walmart was a billion dollar company with stores operating across 28 states. (http://walmart1percent.org/) Today Wal-Mart is the largest corporation in the world employing 2.3 million people (Dun & Bradstreet, 2014, para. 1) However todays Wal-Mart does not share Sam Walton visions or his values. Today Wal-Mart does whatever it needs to maximize revenue at the expense of its employees and customers. Today’s Wal-Mart has little or no respect for their employees. For the majority of their employees’ wages lower than their closest competitors (Costco and Target) since Wal-Mart encourage their employees to get on government funded programs such as food stamps, Medicaid, and public housing thereby passing some of their overhead...
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...Running head: Five Year Marketing Five Year Marketing Plan Walmart Sherry Smith Baker College Table of Contents I. Title Page 1 II. Table of Contents 2-3 III. Executive Summary 4 IV. Company Description 4-5 V. Strategic Focus and Plan 5 a) Mission Statement (Current) 5 b) New or Revised Mission Statement 5 i. Vision Statement (Current) 5 ii. New or Revised Vision Statement 5-6 c) Goals 6 1) Non-financial Goals 6 2) Financial Goals 6 d) Core Competency and Sustainable Competitive Advantage 6 VI. Situation Analysis 7 a) SWOT Analysis 7 b) Industry Analysis 7-8 c) Competitors 8 d) Company Analysis 8-9 e) Customer Analysis 9 VII. Market Product Focus 9 a) Marketing and Product Objectives 10-11 b) Target Markets 11 c) Points of Difference 11 d) Positioning 11-12 VIII. Marketing Program 12 a) Product Strategy 12 i. Product Line 12 ii. Unique Product Quality 12-13 iii. Packaging 13 b) Price Strategy 13 c) Promotion Strategy 13-14 d) Place (Distribution) Strategy 14 IX. Financial Data and Projections 14 a) Past Sales Revenues...
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...3. Is the firm more stakeholder or shareholder focused? Wal-Mart is the world largest retailer and successful retailer in US market that offer low prices to customer. Wal-Mart is a company that focuses on it shareholder. Wal-Mart most definitely makes shareholder money. Since the establishment, Wal-Mart has served the public interest by creating wealth, primarily by selling worthwhile goods and services for a profit. This encourages Wal-Mart expand their business to international markets. Today, Wal-Mart’s customer base no longer targets only low income customers and has expanded into targeting African-Americans, the affluent, empty-nesters, Hispanics, suburbanites, and rural residents. As such, Wal-Mart took a holistic approach to changing its mission statement to “we save people money so they can live better” to appeal to a broader customer base. By expanding the target customer base, the retail giant has strategized to appeal to a mixed demographic which out performs other rivals. Wal-Mart’s net sales over the last 3 years have increased consistently with an increase in 2012 of 5.9% year over year. Wal-Mart’s performance and shareholders are inter-related, shareholders are concern about company performance because it will affect shareholders interests if company not doing well in their business. Wal-Mart main focus is to uphold and maintain it responsibilities to shareholders and follows free the market libertarianism model. Milton Friedman model was that...
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...Introduction: Financial Statement Analysis is used by interested parties such as inventors, creditors, and management to evaluate the past, current and projected condition and performance of the firm. Its analysis helps user make better desiccations. Ration analysis is the most common form of financial analysis. It provides relative measures of the firm’s conditions and performance. Horizontal analysis and Vertical analysis are also popular forms. Horizontal analysis is used to evaluate the trend in the accounts over the years, while vertical analysis, also called a common size Financial Statement discloses the internal structure of the firm. It indicates the existing relationship between sales and each income statement account. It shows the mix of assets debt that produces income and the mix of the sources of capital, where by current or long-term debt of by equity funding. Financial Statement Analysis prepared for the internal auditors, Many different financial measures are used to analyze financial statements and rank the performance of competing investment opportunities, including growth in sales, return to stockholders, profit margin, and return on equity. These are just four possible measures considered and evaluated by investors and creditors. Financial statements presented in various formats to help facilitate analysis. A classified set of financial statements groups items with similar characteristics together. Groupings include categories such as current assets; property...
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...sustainability and humanitarian efforts. CSR has evolved from companies donating corporate dollars to global non-profits, to sending employees into emerging geographical places to work directly with its initiatives partnering organizations. Wal-mart stores Inc., operates retail stores in various formats under various banners. It’s operations comprise of three reportable business segments, Wal-Mart U.S., Wal-Mart International and Sam’s Club in three categories; retail, wholesale, and e-commerce. Wal-Mart first opened in 1962 in Rogers, AK. The business is the result of its founder Sam Walton. His visionary leadership focused on helping customers and communities save money and live better. They feature a great selection of high quality merchandise, friendly service, and everyday low prices. Wal-Mart goal is to bring the best shopping experience to consumers. Wal-Mart business philosophy is based on the simple idea of making the customer No. 1. Wal-Mart as a corporation believe that by serving the customer’s need first the business would also serve its associates, shareholders, communities, and other stakeholders. Wal-Mart has one of the largest distribution operations in the world. In this essay one will look at the current status of Wal-mart corporate social responsibilities, stakeholders attitudes, and things they within the company to engage customers. With respect to their...
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...The Influence of the Mission Statement in Strategic Management and Companies As we all know, most of the companies have their mission statement. Mission statements are a primary management tool (Bart and Hupfer, 2004) in the pursuit of organizational excellence. A mission statement is to make the company’s fundamental purpose briefly. It also answers the reason why does the company exist. The mission statement gives a clear description of the company's purpose both for those people in the organization and the public. For example, the mission statement of Canadian Tire reads (in part) says Canadian Tire is a network of interconnected businesses and it is growing. Canadian Tire continuous efforts, in order to meet the needs of its customers, provide a unique position, price, service and various package worth as. Usually a commercial mission statement consists of 3 essential components; the first one is the key market, what are your target market/customers. The second is contribution, what kind of service or products you provide to customers. The third one is distinction, it tells customers the difference between you and your competitors then why would they choose you. Each enterprise should have a mission statement, as a kind of ensuring that everyone in this organization on the same direction, and as the effective business planning reference. Who cares if your company has a mission statement or not? Maybe your stakeholders do. Fact shows that at least three groups of people...
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...Integrating Values-The Legality, Morality, and Social Responsibility of Wal-Mart’s Response to Sex Discrimination and Pay Lawsuits Nova Southeastern University MGT5015_Legal, Ethical, Social Value Business September 9, 2012 We certify that we are the author of this paper and that any assistance received in its preparation is fully acknowledged and disclosed in the paper. We have also cited any sources from which were used data, ideas of words, whether quoted or paraphrased. I also certify that this paper was prepared by us specifically for this course. Table of Contents Abstract (Natalie Rondon) 3 Introduction ( Natalie Rondon) 4 Legal Section (Franciso Amado) 5 Ethic Section Utilitarian Ethical Analysis (Kyle Lozito) 8 Kantian Ethical Analysis (Christian Varillas) 14 Additional Ethical Analysis (Natalie Rondon). 18 Social Responsibility Section (Shirley Simmonds). 20 Conclusion (Natalie Rondon). 25 References. 26 Abstract This is a library research paper on the integrating values of Wal-Marts to sex discrimination and pay lawsuits that Wal-Mart has encountered over the years. The paper will discuss the legality of the situation and how Wal-Mart might be able to fix the issues that they are having. The paper will also discuss Utilitarian ethical analysis, Kantian ethical analysis and Socrates and the Socratic method. It will go into detail if Wal-Mart as a company has acted ethical or moral against its employees based on the ethical analysis...
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...Learning organizations are characterized by total employee involvement in a process of collaboratively conducted, collectively accountable change directed towards shared values or principles. (Watkins and Marsick 1992: 118) We can see much that is shared in these definitions – and some contrasts. To start with the last first: some writers (such as Pedler et. al.) appear to approach learning organizations as something that are initiated and developed by senior management – they involve a top-down, managerial imposed, vision (Hughes and Tight 1998: 183). This can be contrasted with more ‘bottom-up’ or democratic approaches such as that hinted at by Watkins and Marsick (1992; 1993). According to Sandra Kerka (1995) most conceptualizations of the learning organizations seem to work on the assumption that ‘learning is valuable, continuous, and most effective when shared and that every experience is an opportunity to learn’ (Kerka 1995). The following characteristics appear in some form in the more popular conceptions. Learning organizations: Provide continuous learning opportunities. Use learning to reach their goals. Link individual performance with organizational performance. Foster inquiry and dialogue, making it safe for people to share openly and take risks. Embrace creative tension as a source of energy and renewal. Are continuously aware of and interact with their environment. (Kerka 1995) As Kerka (1995) goes onto comment, the five disciplines that Peter Senge goes...
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...1. Introduction. Summarize the current situation facing the firm and other relevant issues. Wal-Mart is an organization which is subject to increasing levels of change and volatility in their business. While it is fact of business life, it also reflects that it drives a relentless increase in the proportion of an organization’s activity that is dedicated to change in meeting the new challenges. Wal-Mart has become one of America's most successful retail giants generating about ROI was 18.6% and 19.2% for fiscal 2012 and 2011, respectively. (Wal-Mart Annual Report, 2012). It is well know as the leader in thinking outside the box, anticipating market opportunities and executing effective strategies to capitalize on them. It has over 10,800 stores worldwide. Businesses have to face the challenge of too many competitors, partly originated by the globalisation, all competing for same objective of making highest profit. So, increasingly companies are not merely asking themselves the management question of ‘Are we doing the right?’ but are having to regularly ask ‘Are we still doing it right?’ They have been seeking a more holistic means of doing this than traditional means of delivering products and services to the customers. In a volatile world, decision makers need options on the future and the ability to change direction as strategic opportunities. Although, business as usual (BAU) performance change is providing a short term success but they are typically faced with a less...
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...The Grassroots Battle: Wal-Mart Supercenter Rosemead Stephen J.J. McGuire, Christine Chueh, Tia Mao & Isela Mercado California State University, Los Angeles September 11, 2008 Wal-Mart, founded in 1962 in Rogers, Arkansas, was the largest retail chain in the world. Its growth was derived from a wide range of competitive advantages, such as Wal-Mart’s sophisticated use of information technology to keep track of and reorder items, the use of “Just-in-Time” shipments of merchandise from distribution centers that eliminated the need for costly in-store inventory storage2, and the sheer economies of scale it achieved compared to its rivals. Wal-Mart also exploited “economies of density” to make the most of its centralized distribution hubs.3 These advantages, combined with its “Every Day Low Price” strategy, enabled Wal-Mart to serve its target market, of which the residents of Rosemead, California were typical. In 2003, Wal-Mart’s attempt to establish a Supercenter 12 miles from downtown Los Angeles in the city of Inglewood, California was stopped by a community grassroots effort to keep the retailer out. Wal-Mart then diverted its expansion plan to the nearby city of Rosemead, where a new Supercenter would benefit from two Wal-Mart distribution centers within a cluster of ten neighboring Wal-Mart stores. In September 2004, the Rosemead City Council voted in favor of Wal-Mart’s plans to open its first Supercenter in Los Angeles country, alienating many residents who felt their...
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...Sam Walton Made in America My Story by Sam Walton with John Huey BANTAM BOOKS NEW YORK• TORONTO• LONDON• SYDNEY• AUCKLAND This edition contains the complete text of the original hardcover edition. NOT ONE WORD HAS BEEN OMITTED. SAM WALTON: MADE IN AMERICA A Bantam Book/published by arrangement with Doubleday PUBLISHING HISTORY Doubleday edition published June 1992 Bantam edition/June 1993 Photographs without credits appear courtesy of the Walton family. All rights reserved. Copyright© 1992 by the Estate of Samuel Moore Walton. Cover photo copyright© 1989 by Louis Psihoyos/Matrix. Cover design by Emily & Maura Design. Library of Congress Catalog Card Number: 92-18874. ISBN 0-553-56283-5 Published simultaneously in the United States and Canada Bantam Books are published by Bantam Books, a division of Bantam Doubleday Dell Publishing Group, Inc. Its trademark, consisting of the words "Bantam Books" and the portrayal of a rooster, is Registered in U.S. Patent and Trademark Office and in other countries. Marca Registrada. Bantam Books, 1540 Broadway, New York, New York 10036. PRINTED IN THE UNITED STATES OF AMERICA OPM 31 30 29 28 27 26 25 24 23 Contents Acknowledgments 4 Foreword 5 1 Learning to Value a Dollar 9 2 Starting on a Dime 14 3 Bouncing Back 25 4 Swimming Upstream 33 5 Raising a Family 44 6 Recruiting the Team 50 7 Taking the Company Public 58 8 Rolling Out the Formula 68 9 Building the Partnership 77 10 Stepping...
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...Online Exercises 1 1. The American Marketing Association (AMA) is the marketing discipline's primary professional organization. In addition to sponsoring academic research, publishing marketing literature, and organizing meetings of local businesspeople with student members, it helps individual members find employment in member firms. Visit the AMA web site athttp://www.marketingpower.com. a. What type of information is available on the AMA web site to assist students in planning their careers and finding jobs? b. If you joined a student chapter of the AMA, what benefits would you receive? c. What marketing mix variable does the AMA's Internet marketing effort best exemplify? 2. The Blue Cross Blue Shield Association of Independent Plans collectively provides insurance coverage for one in four Americans. To communicate with subscribers, potential customers, and others interested in the health-care industry, research and insurance coverage, Blue Cross has now developed a page on the World Wide Web. Explore this site now at http://www.bluecares.com . a. What types of information are available through Blue Cross's web page? b. How does Blue Cross's web page facilitate relationship marketing?c. What marketing mix variable do Blue Cross's Internet marketing efforts best exemplify? c. What marketing mix variable do Blue Cross's Internet marketing efforts best exemplify? Online Exercises 2 1. Internet analysts have praised Sony's web site as one of the best organized and most...
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... p6/p7 5.1 Definition and Importance of motivation 5.2 Theories of motivation 6 Conclusion p7 7 Reference list p8/p9 8 Appendix p10 1. Introduction In 1919, Jack Cohen built a small shop in the east of London. Afterwards, Tesco was born because of the combination of Jack Cohen and a tea supplier called T.E.Stockwell (Time100, 2012). Since then, Tesco has a steady growth. Now, Tesco is a leader in the UK retailer field which own 2979 stores and employ about 300,000 staffs in the Britain, accounting for more than 30% market share (Tesco, 2012). What’s more, Tesco is also honoured as the world’s third largest grocery retailer with 520,000 employees in 14 countries catering for different customers worldwide (Tesco, 2012). In 2011/2012financial year , the group sales and the profits before tax up to £72bn and £3.8bn respectively. Tesco is aim to provide value for customers to make them happy and earn their lifetime...
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