Walmart- Functions of Management Essay

2067 Words Nov 13th, 2011 9 Pages
External and Internal Factors of Wal-Mart Wal-Mart is one of the leading multinational discount department retail stores. One key characteristics of Wal-Mart is the diversity. Sam Walton’s goal was to help people live better by saving money. Wal-Mart is by far one of the most successful companies worldwide. Wal-Mart is a leader in diversity, globalization, technology, innovation, and ethics. Ethics plays a big role in the success of the company. Thru the ethical code followed, Wal-Mart hires, retains and promotes the right people into the right leadership roles. The ability to adapt to internal and external factors also helps them stay ahead of the game. Wal-Mart is a widely admired worldwide leader in the retail industry and …show more content…
3). To further international leadership development and cross-cultural communication, Wal-Mart created a program that involves the participation of 25 to 30 people on a rotating six-month basis. It includes managers and assistant store managers from around the world. These managers are brought to the United States and given leadership training “Wal-Mart style”. The training includes learning to recognize and adapt to cultural difference in ways of doing business.
Technology
New technologies are continually emerging and one of the key reasons that Wal-Mart has become such a huge success is the company’s utilization of cutting-edge technology. According to the Seeking Alpha (n.d.) website, in 2005, Wal-Mart began using radio frequency identification (RFID) tracking technology to manage inventory and closely monitor sales. The constant tracking and monitoring of products allows Wal-Mart to plan and adjust for changes in consumer demand, supply chain issues, cash flows and even the size and location of its stores. Wal-Mart has one of the largest private distribution centers in the world with more than 40 regional centers (Wal-Mart, n.d.). Without the aid of technology, this never could have been accomplished. High-end computer systems, software, and RFID technology have allowed Wal-Mart to create distribution and logistics systems that keep products available to the

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