Coming up to late 1990s, the United States had gone through an immense amount of economic and technological growth. With the rise of the internet, and the underlying stigma of convenience that revolves around technology, the United States’ capitalistic mindset has officially transitioned into a new era known as the information age.
Synonymous to other time-periods where the standard of living rose, The 1990s going into the 2000s was a time of growth in terms convenience and comfort. With both of orientations becoming increasingly more common, consumers inevitably became more selfish and demanding with the quantity of a product and the rate at which they got it. Looking to Wal-Mart’s national success within the same time frame, it is quite …show more content…
Being the predecessor to other companies such as Amazon, Wal-Mart defined what it meant to be a general purpose store for the year 2000. When analyzing the values that Wal-Mart has grown up on as a company, Wal-Mart very much started out with the traditional business model that all local general purpose stores had in the United States. Simply trying to minimize cost for the buyer while trying to maximize profit for the company was the original modo for Wal-Mart. While all companies try to follow this general entrepreneurial guideline, Wal-Mart managed to stand out amongst it’s competitors by applying this concept to what some consider an extreme. For example, as Wal-Mart grew as a company, it became apparent that Wal-Mart would seek out and hire employees that were willing to work for less than minimum wage; often times these employees had some mental deficiency and or hand no credentials that enabled them to ask for a higher wage. Expanding on this concept, Wal-Mart would also offer their employees a large enough discount such that the employees would feel obligated to buy products at Wal-Mart off the clock. This strategy ultimately allowed Wal-Mart to reroute the money they used to pay their employees back into their own revenue stream- thus keeping the business
Synonymous to other time-periods where the standard of living rose, The 1990s going into the 2000s was a time of growth in terms convenience and comfort. With both of orientations becoming increasingly more common, consumers inevitably became more selfish and demanding with the quantity of a product and the rate at which they got it. Looking to Wal-Mart’s national success within the same time frame, it is quite …show more content…
Being the predecessor to other companies such as Amazon, Wal-Mart defined what it meant to be a general purpose store for the year 2000. When analyzing the values that Wal-Mart has grown up on as a company, Wal-Mart very much started out with the traditional business model that all local general purpose stores had in the United States. Simply trying to minimize cost for the buyer while trying to maximize profit for the company was the original modo for Wal-Mart. While all companies try to follow this general entrepreneurial guideline, Wal-Mart managed to stand out amongst it’s competitors by applying this concept to what some consider an extreme. For example, as Wal-Mart grew as a company, it became apparent that Wal-Mart would seek out and hire employees that were willing to work for less than minimum wage; often times these employees had some mental deficiency and or hand no credentials that enabled them to ask for a higher wage. Expanding on this concept, Wal-Mart would also offer their employees a large enough discount such that the employees would feel obligated to buy products at Wal-Mart off the clock. This strategy ultimately allowed Wal-Mart to reroute the money they used to pay their employees back into their own revenue stream- thus keeping the business