1.0 INTRODUCTION In 1950, Sam Wilton, founder of Walmart has been in the retail business. It runs well, but it's not convenient because they cannot create profits and grow your business quickly. Therefore, he wanted to develop his idea again by opening the first store in Rogers, Arkansas in 1962. This time the shop opened by Sam located in rural areas but its area is large and offers a low price. It mostly aimed at middle-class and lower middle-class people. Low prices and a strategic area have attracted the attention of customers.
On October 31, 1969 Walmart has incorporated and publicly traded in 1972 on the New York Stock Exchange. The company then grew rapidly and has 276 locations in 1980. Walmart is well-known and easy to recognize …show more content…
As of today, Walmart remains the leader in the retail industry. They are not only committed to developing a better business and providing services to the satisfaction of customers, but also to improve the communities they serve through efforts to constantly improve what they do and how they do it.
2.0 VISION, MISSION, OBJECTIVES AND GOALS
2.1 Vision
A vision statement is defined as a statement that gives a broad image to work. The organization has something that they want to achieve and they show their efforts toward it.
Walmart’s vision is “To be the best retailer in the hearts and minds of consumers and employees”. The company has had a vision that aims to achieve the highest position in the retail industry. Walmart Vision has also shown their concern for the workers and their clients. They managed to take care of their employees to get lucrative salaries while their customers through the shop and get a low price. This is one way for them to keep their customers so always shop with …show more content…
Over 30 years, the strategy of single business has been contributing greatly to the success of Wal-Mart, they have never believed in the concept of diversification for the sustenance of its growth and also its advantages at the competitive level.
Besides that, Wal-Mart uses acquisition strategy as an approach to their customer and gain market share. An example, Wal-Mart acquired Kosmix in April 2011. Kosmix is a social media company focused on e-commerce. Wal-Mart bought Kosmix because it wanted to interact with their customers better around the world. Wal-Mart has a joint venture with Bharti Enterprises. The joint venture is for cash-and-carry supply chain management operations in India. It is a 50/50 partnership and they opened their first cash-and-carry facility in India in 2009. Most Wal-Mart joint ventures have been with overseas companies because Wal-Mart already has a strong U.S.
On October 31, 1969 Walmart has incorporated and publicly traded in 1972 on the New York Stock Exchange. The company then grew rapidly and has 276 locations in 1980. Walmart is well-known and easy to recognize …show more content…
As of today, Walmart remains the leader in the retail industry. They are not only committed to developing a better business and providing services to the satisfaction of customers, but also to improve the communities they serve through efforts to constantly improve what they do and how they do it.
2.0 VISION, MISSION, OBJECTIVES AND GOALS
2.1 Vision
A vision statement is defined as a statement that gives a broad image to work. The organization has something that they want to achieve and they show their efforts toward it.
Walmart’s vision is “To be the best retailer in the hearts and minds of consumers and employees”. The company has had a vision that aims to achieve the highest position in the retail industry. Walmart Vision has also shown their concern for the workers and their clients. They managed to take care of their employees to get lucrative salaries while their customers through the shop and get a low price. This is one way for them to keep their customers so always shop with …show more content…
Over 30 years, the strategy of single business has been contributing greatly to the success of Wal-Mart, they have never believed in the concept of diversification for the sustenance of its growth and also its advantages at the competitive level.
Besides that, Wal-Mart uses acquisition strategy as an approach to their customer and gain market share. An example, Wal-Mart acquired Kosmix in April 2011. Kosmix is a social media company focused on e-commerce. Wal-Mart bought Kosmix because it wanted to interact with their customers better around the world. Wal-Mart has a joint venture with Bharti Enterprises. The joint venture is for cash-and-carry supply chain management operations in India. It is a 50/50 partnership and they opened their first cash-and-carry facility in India in 2009. Most Wal-Mart joint ventures have been with overseas companies because Wal-Mart already has a strong U.S.