Essay Wal Mart 's Competitive Strategy

1037 Words Nov 14th, 2016 5 Pages
When it comes to national business dominance no one has done it better than Wal-Mart. The company created and instituted a competitive strategy by focusing on the goal of lowest cost. Wal-Mart as many know is an extremely powerful multinational retail corporation. It is a retail store unlike any other, it can turn a profit where other business’ can’t, it has lower prices than the neighborhood stores around it, which in turn brings in all the customers who were once so loyal to their neighborhood retail stores. Wal-Mart was only worried about itself and didn’t care what its competitors were doing. Innovative ideas lead to the growth and expansion of the company. Wal-Mart didn’t become Wal-Mart out of thin air. Through strategic development and guiding principles, it was able to become the biggest dominant discount retailing force in the world. In order for companies to compete with Wal-Mart today they need to reproduce Wal-Mart’s method of strategic thinking without copying their exact process.
Originating in 1962 the family owned company ran by Sam Walton has spread like wildfire. The inception of the Super Center promoted volume selling and added the convenience factor for customers who didn’t have time to shop at multiple locations. Wal-Mart’s financial facts stated that in January, 2014 the company ranked first in the list of fortune 500 companies and reached net sales of $473.1 billion Add in the technological aspect that has continuously led to reduced costs, and…

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