Why Is Wal-Mart so Successful? Essay examples
<br>What are the Key Features of Wal-Mart's Approach to Implementing the Strategy Put Together by Sam Walton-The key features of Wal-Mart's approach to implementing the strategy put together by Sam Walton emphasizes building solid working relationships with both suppliers and employees, being aware and taking notice of the most intricate details in store layouts and merchandising techniques, capitalizing on every cost saving opportunity, and creating a high performance spirit. This strategic formula is used to provide customers access to quality goods, to make these goods available when and where customers want them, to develop a cost structure that enables competitive pricing, and to build and maintain a reputation for absolute trustworthiness (Stalk, Evan, & Shulman, 1992).
<br>Wal-Mart stores operate according to their "Everyday Low Price" philosophy. Wal-Mart has emerged as the industry leader because it has been better at containing its costs which has allowed it to pass on the savings to its customers. Wal-Mart has become a capabilities competitor. It continues to improve upon its key business processes, managing them centrally and investing in them heavily for the long term payback.
<br>Wal-Mart has been regarded as an industry leader in "testing, adapting, and applying a wide range of cutting-edge merchandising approaches" (Thompson & Strickland, 1995, p. 860). Walton