WalMart Essay Example For Students

WalMart Essay Wal-Marts philosophy has always been to provide everyday low prices and superior customer service. But this philosophy might have stared potential customers away from Wal-Mart. Many people, including myself, have the misconception that Wal-Mart only sells necessities that the average working class family can afford. An extreme eye opener for me was a recent television commercial by Wal-Mart. I saw that they also sold flat panel televisions, which is considered a luxury item for any social class. After going to their website to see what other luxury items Wal-Mart sold I was amazed at the number of items I found that were not the necessities which I stereotyped them selling. Wal-Mart has to change the publics opinion of the items that they sell and the types of people that it has in mind of serving. Sam Walton was the shrewd businessman behind the worlds largest retailer. After working his way through the University of Missouri as a newspaper delivery boy, he got a job in Des Moines, Iowa as a management trainee for J.C. Penny at a salary of $75 a month. We will write a custom essay on WalMart specifically for you for only $16.38 $13.9/page Order now Walton borrowed some money from his father-in-law and opened a variety store after serving as an Army captain in World War II. A chain of drugstores followed. He went into business with his brother Bud, and by 1960, the Waltons 15 stores were taking in $1.4 million a year. But Walton soon saw a challenging new competitor arise in the discount store. The Walton brothers opened their first Wal-Mart in 1962 in Rogers, Arkansas. Specializing in name brands at low prices, the chain of Wal-Mart stores sprang up across rural America. Wal-Marts sales grew to $26 billion by 1989, compared to $1 billion in 1980. By 1990, Wal-Mart was the largest U.S. retailer, with 1,700 stores. One year later Wal-Mart entered the international market for the first time with the opening of a unit in Mexico City. Within five years, Wal-Mart would enter Puerto Rico, Argentina, Brazil and China. Since then, Wal-Mart has built stores in Canada, Germany, Korea and the United Kingdom. Wal-Mart currently opens a new megastore every two business days and has expanded, on average, into one new country each year. . Walmart Essay Example For Students Walmart Essay Wal-Marts everyday low prices gives an edge over other retailers. Efficient IT infrastructure enables to smoothen inbound and outbound logistics. Distribution efficiencies reduces the dependency on the suppliers inefficiencies. Wide range of products provides customer anything and everything under one roof. Current dominating market position gives advantage in market development and penetration. economies of scale of scale Weaknesses- The weakness is that their overhead is expensive to run store facilities all over the world. Hierarchical corporate structure may impair decision-making. In an attempt to succeed by means of low prices, may possibly portray Walmart Essay as a cheap store. Market maturing Concentration in a low margin industry Zoning issues are the store real estate problems. Just because a company has the ability to build a huge store anywhere it wants to, it does not necessarily mean that it is possible to build one anywhere it wants to. The real estate issue becomes more evident in crowded cities such as Japan where there is a major concern over the availability of real estate. We will write a custom essay on Walmart specifically for you for only $16.38 $13.9/page Order now Opportunities Expansion into emerging International markets Societal trend towards environmental friendly and American -made products Move toward value for money products in the slower economic growth Threats- Even though Wal-Mart is the largest retailer and most successful, they can still be threatened by many factors ranging from their main competitors, environmental, and economic factors. In many places in USA, Wal-Mart has faced the Anti Wal-Mart activists. According to them having Wal-Mart in the neighborhood kills the local retailers, increases the property taxes to pay for sewage, roads, utilities, and sidewalks. Regulations and political stability in the international markets Exchange rate fluctuations A union problem for ex.Germany has one of the highest degrees of unions and this has a profound effect on hiring, retaining, and laying off employees. Once an employee is hired, it costs more in Germany to keep the employee on payroll and to lay off the employee. German workers are one of the highest paid workers in the world. Capital intensive for expansion Challenges The main challenge for Walmart in the years to come is to make sure they continue to keep their customers and associates satisfied. In addition, to be a profitable corporation for their investors who own stock in Walmart. If they continue for excellence in these areas they are likely to be a great corporation now and in the years to come. However, if they fail at these areas then the challenge awaits them, which is avoiding bankruptcy Taking the organization ahead A roadmap from 2004 ton 2007: Internal product development : Our product-development team, working with Wal-Mart buyers, is driving significant improvement in key product categories such as apparel, domestics and electronics. Global procurement: Last year we assumed responsibility of global procurement from a third party. This allowed us to better coordinate the entire global supply chain from product development to delivery. In addition, our global procurement program allows us to share our buying power and merchandise network with all our operations throughout the world. Promote the Walmart Culture: All Wal-Mart leaders must understand our culture and our commitment to integrity. Thats why weve developed a number of leadership initiatives, including the Business Leadership Series, People Asset Reviews and accelerated programs for high-potential international managers. Leverage the core competencies we have developed in logistics, information systems and real estate : These competencies represent an essential part of our every day low cost commitment, which makes Every Day Low Prices possible. One of our favorite ways to introduce value is the Rollback program, which began in 1992 as a way of reminding Customers that were not resting on our Every Day Low Prices. .u74268a74cfe41f1acf098e26ea32fb7a , .u74268a74cfe41f1acf098e26ea32fb7a .postImageUrl , .u74268a74cfe41f1acf098e26ea32fb7a .centered-text-area { min-height: 80px; position: relative; } .u74268a74cfe41f1acf098e26ea32fb7a , .u74268a74cfe41f1acf098e26ea32fb7a:hover , .u74268a74cfe41f1acf098e26ea32fb7a:visited , .u74268a74cfe41f1acf098e26ea32fb7a:active { border:0!important; } .u74268a74cfe41f1acf098e26ea32fb7a .clearfix:after { content: ""; display: table; clear: both; } .u74268a74cfe41f1acf098e26ea32fb7a { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u74268a74cfe41f1acf098e26ea32fb7a:active , .u74268a74cfe41f1acf098e26ea32fb7a:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u74268a74cfe41f1acf098e26ea32fb7a .centered-text-area { width: 100%; position: relative ; } .u74268a74cfe41f1acf098e26ea32fb7a .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u74268a74cfe41f1acf098e26ea32fb7a .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u74268a74cfe41f1acf098e26ea32fb7a .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u74268a74cfe41f1acf098e26ea32fb7a:hover .ctaButton { background-color: #34495E!important; } .u74268a74cfe41f1acf098e26ea32fb7a .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u74268a74cfe41f1acf098e26ea32fb7a .u74268a74cfe41f1acf098e26ea32fb7a-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u74268a74cfe41f1acf098e26ea32fb7a:after { content: ""; display: block; clear: both; } READ: The Issue Of College Tuition Essay . Walmart Essay Example For Students Walmart Essay Wal-Mart Current Situation Analysis Mission and Strategic Objectives We will write a custom essay on Walmart specifically for you for only $16.38 $13.9/page Order now Wal Mart Corporations mission statement can be identified as follows: Sam Walton built Wal-Mart on the revolutionary philosophies of excellence in the workplace, customer service and always having the lowest prices. We have always stayed true to the Three Basic Beliefs Mr. Sam established in 1962: 1.Respect for the Individual 2.Service to Our Customers 3. Strive for Excellence Wal-Mart is the worlds largest retailer, operating more than 5800 discount stores. Wal-Mart employs more than 1.5 million associates 885,000 in the United States and 225,000 internationally. Walton had a reputation for caring about his customers, his employees, and the community. In order to maintain its market position in the discount retail business, Wal-Mart executives continue to adhere to the management guidelines Sam developed. Walton was a man of simple tastes and took a keen interest in people. He believed in three guiding principles: 1.Customer value and service; 2.Partnership with its associates; 3.Community involvement. Strategy Wal-Mart succeeds in the United States simply by selling branded products at low cost. But that doesnt explain it all. Following is an analysis of Wal-Marts competitive strategy. Pricing Wal-Marts marketing strategy was to guarantee ;everyday low prices; as a way to attract customers. The traditional discount retailer, which relies on ;sales,; not only has to do more advertising and promotions but also has to rely more on catalog mailing, buildup of inventory before a sale, markdowns on the unsold inventory, etc. 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 capability competitor. With such low wages for those who make the Bratz dolls, Wal-Mart can profit greatly while still providing low prices to its customers. In a global labor market, it is the companies who can find the cheapest, most exploitable conditions, with little worker protection or regulations that will profit the greatest. Distribution System About 85 percent of all the merchandise that Wal-Mart sold was shipped through its distribution system to the stores (competitors averaged less than 50 percent). Wal-Mart used a ;saturation; strategy for store expansion. The standard was to be able to drive to a store within a day from a distribution center. A distribution center was strategically placed so that it could eventually Information System First and most important thing about Wal-Marts information system is precisely that the customers needs come first. Wal-Mart had implemented a satellite network system that was used to share information between the companys network of stores, distribution centers and suppliers so orders could be consolidated, enabling the company to buy full truckloads without incurring excess inventory costs. Increase flexibility, insured 100 percent in-stock position increased store-selling space (by reducing the space required for back-room inventory storage). Store-level data were collected, analyzed and transmitted electronically to see how a particular region, district, store, department within a store or item was performing. This eliminated stock-outs, reduced the need for markdowns on slow-moving stock and maximized inventory turnover. The benchmark information across stores was also a valuable tool to help problem stores. 1) The CustomerOne of Waltons deepest beliefs was that the customer is always right, and his stores are still driven by this philosophy. When questioned about Wal-Marts secrets of success, Walton has been quoted as saying; It has to do with our desire to exceed our customers expectations every hour of every day; 2) The AssociatesWaltons greatest accomplishment was his ability to empower, enriches, and trains his employees. He believed in listening to employees and challenging them to come up with ideas and suggestions to make the company better. At each of the Wal-Mart stores, signs are displayed which read; Our People Make the Difference. Associates regularly make suggestions for cutting costs through their Yes We Can Sam program. One of Wal-Marts goals was to provide its employees with the appropriate technological tools, in order to do their jobs more efficiently, and succeed in the retail market. Wal-Mart has grown from a single store open by Sam Walton in 1962 to a global corporation. .uc0c37d335e34bdee91ec367aa556efd8 , .uc0c37d335e34bdee91ec367aa556efd8 .postImageUrl , .uc0c37d335e34bdee91ec367aa556efd8 .centered-text-area { min-height: 80px; position: relative; } .uc0c37d335e34bdee91ec367aa556efd8 , .uc0c37d335e34bdee91ec367aa556efd8:hover , .uc0c37d335e34bdee91ec367aa556efd8:visited , .uc0c37d335e34bdee91ec367aa556efd8:active { border:0!important; } .uc0c37d335e34bdee91ec367aa556efd8 .clearfix:after { content: ""; display: table; clear: both; } .uc0c37d335e34bdee91ec367aa556efd8 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uc0c37d335e34bdee91ec367aa556efd8:active , .uc0c37d335e34bdee91ec367aa556efd8:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uc0c37d335e34bdee91ec367aa556efd8 .centered-text-area { width: 100%; position: relative ; } .uc0c37d335e34bdee91ec367aa556efd8 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uc0c37d335e34bdee91ec367aa556efd8 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uc0c37d335e34bdee91ec367aa556efd8 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uc0c37d335e34bdee91ec367aa556efd8:hover .ctaButton { background-color: #34495E!important; } .uc0c37d335e34bdee91ec367aa556efd8 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uc0c37d335e34bdee91ec367aa556efd8 .uc0c37d335e34bdee91ec367aa556efd8-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uc0c37d335e34bdee91ec367aa556efd8:after { content: ""; display: block; clear: both; } READ: International Business Law, Go Essay Wal-Mart is presently the largest private employer, hiring directly for its own needs, . Walmart Essay Example For Students Walmart Essay Relationship Marketing King Wal-Mart Still No. 1 by Doug Edge April 29, 2003 The economists are still telling us how bad the U.S. economy is, but dont say anything about the bad economy to your local Wal-Mart greeter. His or her employer just witnessed revenues grow by 12 percent in 2002, to $246. 5 billion. He or she will probably proudly let you know that Wal-Mart Stores Inc. was just ranked number oneagainby Fortune magazine, leading the top 500 corporations for a second year in a row. We will write a custom essay on Walmart specifically for you for only $16.38 $13.9/page Order now How do they do it? Sam Waltons 1992 book Made In America has all the details, but let me sum up: Wal-Mart knows relationship marketing. Rule No. 8 of Sams Rules for Building A Business; holds the secret to this winning formula of success. He says, ;Let them (your customer) know you appreciate them.; So what has Wal-Mart done to show that they appreciate their customers? They use one-to-one relationship marketing tactics, executed by the famous Wal-Mart greeter. The Wal-Mart greeting was the original method used by the giant retailer to show customers that they are appreciated. A greeter at the door thanks customers for coming in, assists with a shopping cart, and provides a ;goodbye thank you; upon departing the store. The friendly senior citizen dressed in the blue vest conveys warmth and personality to every guest entering or exiting a Wal-Mart store. So why dont others adopt this simple marketing tactic? Some do. Meijer retail stores also use greeters; many restaurants, hotels and other businesses do the same. But most dontbecause relationship marketing is not as simple as it seems. It takes a type of commitment different than traditional marketing. Relationship Marketing Has 4 Key Components: It has to be personalized. Personalization can come in the form of a highly targeted direct mail piece, a phone call or email. Obviously the handshake and a smile illustrated by Wal-Mart greeters also work well in personalizing the relationship. It has to be targeted. Wal-Mart invests money in maintaining relationships with existing customers. By targeting this group, Wal-Mart establishes long-term relationships with their most loyal shoppers. Targeting customers through programs that reward loyalty can result in big returns over the life of the customer. It has to be meaningful. Your marketing message has to connect in an emotional way to establish a lasting relationship. If the Wal-Mart greeter did not look you in the eye while saying ;hello,; the greeting would not have a lasting impact. It should be interactive. Many Wal-Mart greeters learn the names of frequent shoppers. Walmart Essay.com, a subsidiary of Wal-Mart Stores Inc., does a great job of asking for the relationship online by providing special offers to those who supply their email address. It is important to make relationship marketing interactive so you can hear feedback, determine what is working and what is not. These key components are essential in relationship marketing programs even if your target audience is not the price-conscious retail shopper that Wal-Mart attracts. Business Relationship Marketing Can Be Achieved By Following These Tactics: Develop a relationship by mixing knowledge with fun. Plan events for clients and prospects that educate while offering entertainment and social interaction. Send out a monthly eNewsletter or eZine with useful content that connects to your clients and prospects. This tactic will show them that you care about their business and value their time by providing them information they can use. Stay away from a sales focus. Instead, provide industry and product news with some entertainment value. Initiate an appreciation program. Send customers thank you cards or gifts after making a purchase. You can also send a thank you gift to show appreciation for their business on the account anniversary date. Look for ways to help your clients and prospects beyond your own capabilities. .uc57ba890555350ff639346f1a6f7d49a , .uc57ba890555350ff639346f1a6f7d49a .postImageUrl , .uc57ba890555350ff639346f1a6f7d49a .centered-text-area { min-height: 80px; position: relative; } .uc57ba890555350ff639346f1a6f7d49a , .uc57ba890555350ff639346f1a6f7d49a:hover , .uc57ba890555350ff639346f1a6f7d49a:visited , .uc57ba890555350ff639346f1a6f7d49a:active { border:0!important; } .uc57ba890555350ff639346f1a6f7d49a .clearfix:after { content: ""; display: table; clear: both; } .uc57ba890555350ff639346f1a6f7d49a { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uc57ba890555350ff639346f1a6f7d49a:active , .uc57ba890555350ff639346f1a6f7d49a:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uc57ba890555350ff639346f1a6f7d49a .centered-text-area { width: 100%; position: relative ; } .uc57ba890555350ff639346f1a6f7d49a .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uc57ba890555350ff639346f1a6f7d49a .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uc57ba890555350ff639346f1a6f7d49a .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uc57ba890555350ff639346f1a6f7d49a:hover .ctaButton { background-color: #34495E!important; } .uc57ba890555350ff639346f1a6f7d49a .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uc57ba890555350ff639346f1a6f7d49a .uc57ba890555350ff639346f1a6f7d49a-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uc57ba890555350ff639346f1a6f7d49a:after { content: ""; display: block; clear: both; } READ: Essay on Obamacare: A Rocky Start To A Smoother Future Essay Refer them to other quality vendors, share an article related to their business or put them in touch with someone who can help. This will go a long way in building a relationship. Make phone calls. Email is easy but picking up the phone and thanking someone for using your company can go a long way. Dont forget the value of real conversations and face-to-face meetings. There is a reason why Wal-Mart employs more . Walmart Essay Example For Students Walmart Essay Wal-Mart is the Worlds largest grocery retailer and control of its empire, despite its IT advantages, could leave it weak in some areas due to the huge span of control. Since Wal-Mart sell products across many sectors (such as clothing, food, or stationary), it may not have the flexibility of some of its more focused competitors. The company is global, but has has a presence in relatively few countries Worldwide. Opportunities To take over, merge with, or form strategic alliances with other global retailers, focusing on specific markets such as Europe or the Greater China Region. The stores are currently only trade in a relatively small number of countries. We will write a custom essay on Walmart specifically for you for only $16.38 $13.9/page Order now Therefore there are tremendous opportunities for future business in expanding consumer markets, such as China and India. New locations and store types offer Wal-Mart opportunities to exploit market development. They diversified from large super centres, to local and mall-based sites. Opportunities exist for Wal-Mart to continue with its current strategy of large, super centres. Threats Being number one means that you are the target of competition, locally and globally. Being a global retailer means that you are exposed to political problems in the countries that you operate in. The cost of producing many consumer products tends to have fallen because of lower manufacturing costs. Manufacturing cost have fallen due to outsourcing to low-cost regions of the World. This has lead to price competition, resulting in price deflation in some ranges. Intense price competition is a threat. Wal-Mart Stores, Inc. is the worlds largest retailer, with $256. 3 billion in sales in the fiscal year ending Jan. 31, 2004. The company employs 1.6 million associates worldwide through more than 3,600 facilities in the United States and more than 1,570 units . . . more? Go toWal-Mart Facts Disclaimer: This case study has been compiled from information freely available from public sources. It is merely intended to be used for educational purposes only. . Walmart Essay Example For Students Walmart Essay Generally people have little knowledge of the actual gist beside the term genetically engineered foods? It may sound like a harsh term, yet to some, it has little to no importance. Genetic engineering basically means to remove genes from one organism such as a plant or an animal, and transferring it to another or altering genes from a plant or an animal in order to attain certain results. Much debating goes on about the issues in the controversy over genetically engineered foods. While some people do not seem to mind it, or choose to foresee the issues regarding it, some people have much stronger feelings against the practice. Many important issues evolve around genetically engineered foods, but a few of the main issues consist of whether consuming good generated via genetic engineering will prove itself as safe, helpful and beneficial to health. We will write a custom essay on Walmart specifically for you for only $16.38 $13.9/page Order now Many people have feelings of uncertainty about consuming genetically engineered food, as a result of uncertainty about the safety of doing so. In the article, Frankenfood Frenzy, consumers and health activist groups find genetic engineering on food unsafe. In addition, Greenpeace calls genetically modified food biological pollution (Frenzy 1). People tend to feel that consuming genetically modified foods could have harmful results and could in the long run contribute towards the development of health problems (Frenzy 1). Yet on the other hand, to some people genetically engineered bear out safety. Gregory Jaffe and Doug Sherman, co-directors of the Biotechnology Project at the Center for Science stated that people should not portray nervousness about eating genetically engineered foods. He mentioned that in most cases, people do not actually eat those genes. For example, by the time a genetically engineered corn plant gets processed into corn oil or corn syrup, virtually none of the genes remain in the food (Jaffe 2). Doug Sherman stated that genetically engineered food should undergo proper testing procedure because of two major concerns. One concern links to the new genes or proteins engineered and whether they might produce toxins that can harm in the short or long term, or whether the new gene might produce a protein that triggers an allergic reaction in a person who eats the food. No other worries involve this matter. (Sherman 2). Many controversial issues have existed about the helpfulness of genetically engineered food and many views on whether or not genetically engineered foods helped health got expressed. Some say that genetically engineered foods can help. The article, Frankenfood Frenzy stated that researchers have found a way to enrich rice with beta-carotene by inserting genes from a bacterium and a daffodil. This way the body converts the beta-carotene into vitamin A. By adding another gene derived from a French bean, the iron content of rice can and will possibly double. This genetically modified rice could become available to farmers as soon as 2003. This genetic engineering promises to save millions of people in poor countries (Frenzy 1). In addition to that, the article stated that products derived from agricultural genetic engineering available today include crops resistant to disease and insect, therefore resulting in fruits that stay fresh longer, and cow hormones that lead to increased milk production. These advances include foods containing vaccines and antibodies that fight diseases like hepatitis and cholera, and foods modified to eliminate common allergens (Frenzy 1). The article Hybrid Vim and Vigor, also proved genetically engineered foods uphold its helpfulness. The author, William L. Brown, researcher of George Shulls experiments with inbreeding and crossbreeding corn, stated that the adoption of hybrid corn progressed steadily and dramatically in the Corn Belt. This leads to the increase of more bushels of corn per acre. In addition, the value of corn to the farmer advanced to several billion dollars per year (Brown 2). Genetically engineered foods have brought many controversial issues up amongst society in the past as well as in the future. Many people feel that without the help of genetically engineered foods, society would have many problems that exist beyond a reasonable doubt. Such issues, such as genetically engineered food, give people different mind sets by which they adhere to. Some find genetically engineered foods to be beneficial, while some find it to be harmful. .ua27a4d7dce0da0bbddff1cc13d35a738 , .ua27a4d7dce0da0bbddff1cc13d35a738 .postImageUrl , .ua27a4d7dce0da0bbddff1cc13d35a738 .centered-text-area { min-height: 80px; position: relative; } .ua27a4d7dce0da0bbddff1cc13d35a738 , .ua27a4d7dce0da0bbddff1cc13d35a738:hover , .ua27a4d7dce0da0bbddff1cc13d35a738:visited , .ua27a4d7dce0da0bbddff1cc13d35a738:active { border:0!important; } .ua27a4d7dce0da0bbddff1cc13d35a738 .clearfix:after { content: ""; display: table; clear: both; } .ua27a4d7dce0da0bbddff1cc13d35a738 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ua27a4d7dce0da0bbddff1cc13d35a738:active , .ua27a4d7dce0da0bbddff1cc13d35a738:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ua27a4d7dce0da0bbddff1cc13d35a738 .centered-text-area { width: 100%; position: relative ; } .ua27a4d7dce0da0bbddff1cc13d35a738 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ua27a4d7dce0da0bbddff1cc13d35a738 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ua27a4d7dce0da0bbddff1cc13d35a738 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ua27a4d7dce0da0bbddff1cc13d35a738:hover .ctaButton { background-color: #34495E!important; } .ua27a4d7dce0da0bbddff1cc13d35a738 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ua27a4d7dce0da0bbddff1cc13d35a738 .ua27a4d7dce0da0bbddff1cc13d35a738-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ua27a4d7dce0da0bbddff1cc13d35a738:after { content: ""; display: block; clear: both; } READ: Child Prostitution and Pornography Exploratory Ess Essay Many important issues evolve . Walmart Essay Example For Students Walmart Essay By exploiting core competencies firms can develop value creating strategies which are superior to their competitors. Wal-Mart are experts at using there core competencies to become superior to their competitors. There are three resources which allow a company to create a core competency. Tangible resources consist of assets that can be seen, financial resources (borrowing capacity), physical resources, organizational structure and technology. Wal-Mart is a huge and very powerful company and therefore uses its ability of lending to become a core competency. Intangible resources are characterized by human resources, resource for innovation, and reputation. This category is where Wal-Mart excels against all its competitors. Knowledge, training and corporate culture possessed by employees may be one of the most significant sources of core competencies and competitive advantages throughout the business world. This is due to being very hard to copy or substitute for. Brand equity consists of brand name and maintaining brand equity. Wal-Mart are masters at using this resource as an advantage over their competitor are Wal-Marts emphasis is on its image of everyday low prices and high quality goods when marketing. We will write a custom essay on Walmart specifically for you for only $16.38 $13.9/page Order now Wal-Mart uses many different channels when marketing itself. It uses television, radio, monthly circulars, weekly newspapers and many more channels. Each one of these channels can be used in an unique way to emphasize Wal-Marts position of selling quality products at low prices. Radio usually grabs the audiences attention by promoting products which are experiencing high demand. Both of these channels are made stronger by the use of newspapers adverts and monthly circulars. In these marketing channels deeply discounted items are highlighted to the potential competitors and these items help lure the customers into the stores. The idea of having quality for less is a good marketing plan because it gets people into the store. It also offers a competitive advantage over the competitors because they can not financially match Wal-Mart prices. This is due to Wal-Mart having better use of financial resources, technology and physical resources. By censoring some products Wal-Mart are trying to market themselves as a company with good values. They use this to attract families. Unfortunately this plan has negative and positive effects. A negative effect is the effect of preventing or manipulating artistic freedom. Due to Wal-Marts restrictions many singers have changed their work. This can be seen as bad for society when one firm dictates what sort of art is released. It could also hurt Wal-Mart financially if it alienates people who do not believe in censorship or if public opinion towards censorship changes. On the positive side their censorship strategies help strengthens their market position of being there for the family and community. A major strength of Wal-Mart is its service-scapes or in store atmosphere. When you walk into any Wal-Mart you are met by happy and helpful staff. This helps strengthen the firms brand image of being a nice and community based firm. All Wal-Mart stores have a lot of nightlights which allow sunlight to enter the store. Many of Wal-Marts competitors like K-mart and Target do not use this idea which lowers the cost of lighting and more importantly makes people happier and more trusting in your products. Target and K-mart, who are Wal-Marts competitors, do not have a happy, community feeling in their stores. A clever marketing idea which Wal-Mart uses to emphasize its commitment to a position of friendly service is the yellow smiling face which rolls back the prices. In this small idea Wal-Marts core competencies are highlighted, lower prices with friendly service. None of its competitors have been able to copy this competitive advantage and this shows why Wal-Mart are far superior with sales. Another marketing strategy Wal-Mart uses is involving each store in the local community. By sponsoring local teams and showing pictures of them it helps manipulate the customers into believing the Wal-Mart cares about the community and gives as well as takes. This is a major competitive advantage Wal-Mart has over its competitors. Buy American is another advertisement which Wal-Mart uses to make people feel better or happier about shopping at Wal-Mart. .u882c393c93c9d414ece1c792fdaf669d , .u882c393c93c9d414ece1c792fdaf669d .postImageUrl , .u882c393c93c9d414ece1c792fdaf669d .centered-text-area { min-height: 80px; position: relative; } .u882c393c93c9d414ece1c792fdaf669d , .u882c393c93c9d414ece1c792fdaf669d:hover , .u882c393c93c9d414ece1c792fdaf669d:visited , .u882c393c93c9d414ece1c792fdaf669d:active { border:0!important; } .u882c393c93c9d414ece1c792fdaf669d .clearfix:after { content: ""; display: table; clear: both; } .u882c393c93c9d414ece1c792fdaf669d { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u882c393c93c9d414ece1c792fdaf669d:active , .u882c393c93c9d414ece1c792fdaf669d:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u882c393c93c9d414ece1c792fdaf669d .centered-text-area { width: 100%; position: relative ; } .u882c393c93c9d414ece1c792fdaf669d .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u882c393c93c9d414ece1c792fdaf669d .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u882c393c93c9d414ece1c792fdaf669d .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u882c393c93c9d414ece1c792fdaf669d:hover .ctaButton { background-color: #34495E!important; } .u882c393c93c9d414ece1c792fdaf669d .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u882c393c93c9d414ece1c792fdaf669d .u882c393c93c9d414ece1c792fdaf669d-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u882c393c93c9d414ece1c792fdaf669d:after { content: ""; display: block; clear: both; } READ: Autism Essay Its competitors do not give their products any character where as Wal-Mart sell their products as a package. If you buy fishing tackle from Wal-Mart . Walmart Essay Example For Students Walmart Essay The first Wal-Mart Store was opened in 1962 by Sam Walton. This small-town merchant, who had operated a variety of stores in Missouri and Arkansas, was convinced consumers would flock to a discount store with a wide variety of merchandise and friendly service. This company has flourished into the worlds number one retailer. From this the company has reached out into grocery (Wal-Mart Supercenters), international operations, membership warehouse clubs (Sams Club), and deep discount warehouse outlets. These expansions into other types of retail have given the corporation even more room for growth. Wal-Marts financial explosion has also lead to the creation of many jobs. With the creation of 85,000 new Wal-Mart jobs, the number of employee for this giant is upwards of 600,000 in the United States alone. Bibliography: . We will write a custom essay on Walmart specifically for you for only $16.38 $13.9/page Order now Walmart Essay Example For Students Walmart Essay Case Analysis: Wal-Mart History/Development/Growth Sam Walton founded wal-Mart in 1962. Much of Wal-Marts success can be attributed to him. He was very simple and ran his company that way. He emphasized hard work and ambition. When the company was in its earlier stages he made it a point to visit every Wal-Mart once a year. He didnt just visit each Wal-Mart and talk with management. He would lead a cheer with the associates. The term associates, which he picked up from his experience working for JC Penneys. He also ran a Ben Franklin franchise with his brother that became extremely profitable. He eventually lost the lease on the store and founded Wal-Mart. They originally started off with 15 stores in the state of Arkansas. We will write a custom essay on Walmart specifically for you for only $16.38 $13.9/page Order now David Glass took over as president of the company in 1984. Then in 2000 Lee Scott was named CEO. Scott happened to be recruited by David Glass early in his career. Wal-Mart is now the largest retailer in the world with revenues of 165 billion. Internal Strengths and Weaknesses At first glance Wal-Mart seems to be exactly like the next retailer such as Kmart. There are a few distinguishing characteristics that separate them from the rest. First, they always build distribution centers before opening store locations, which saved costs on distribution overhead. Second, they have the most sophisticated inventory system. It operates in real time. As soon as an item is scanned at checkout it is directly sent to inventory and new products are automatically ordered. This process also helps with speedier projections and sales information. Third, they have an outstanding company culture. The same culture that Mr. Sam himself had emulated. Along these same lines, they emphasized a high value for associates, which is what they call their employees. As well as being more service oriented. They also found the delicate balance between having low prices and appearing too cheap. External Environment During the 80s and early 90s retailers when through some difficult times. There was a large increase in competitive pressure, which resulted in much lower margins. At the time most households did not have much discretionary spending. Therefore consumer spending was very limited. There was only enough money for the essentials. The entire economy was in a recession. Around 1998, unemployment was at an all-time low. Total household income was up and inflation was very low. All of a sudden buying power was higher and consumers were willing to buy. The United States is still experiencing one of the longest periods of economic expansion in its history. SWOT StrengthsDistribution centersCultureInventory SystemBargaining Weaknesses OpportunitiesMore storesIncorporate grocery itemsBuy out remaining competitionThreatsCompetition Corporate Level Strategies At the corporate level, Wal-Mart tries to stay ahead of the game. From the very beginning they have been for rapid expansion. They are currently located in nine different countries as well as all 50 states. They have also tried new retail formats such as Sams Club. They also take pride in their stores upgrading and refurbishing. They are also building new distributions centers all the time. They are currently working on expanding into Canada, Asia, South America, and Europe. They also have their own dog food line name after Sams dog, Ol Roy, which was a top seller. Business Level Strategies At the business level there is a large emphasis on customers, provide what they want, when they want it; at a value. They also take a lot of pride in their associates. Average employees make 7.50/hour. They also incorporate teamwork into each store. They stress that employees treat each other how they want to be treated. .u97b4ac0214dab77ba66332f2cb09bfef , .u97b4ac0214dab77ba66332f2cb09bfef .postImageUrl , .u97b4ac0214dab77ba66332f2cb09bfef .centered-text-area { min-height: 80px; position: relative; } .u97b4ac0214dab77ba66332f2cb09bfef , .u97b4ac0214dab77ba66332f2cb09bfef:hover , .u97b4ac0214dab77ba66332f2cb09bfef:visited , .u97b4ac0214dab77ba66332f2cb09bfef:active { border:0!important; } .u97b4ac0214dab77ba66332f2cb09bfef .clearfix:after { content: ""; display: table; clear: both; } .u97b4ac0214dab77ba66332f2cb09bfef { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u97b4ac0214dab77ba66332f2cb09bfef:active , .u97b4ac0214dab77ba66332f2cb09bfef:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u97b4ac0214dab77ba66332f2cb09bfef .centered-text-area { width: 100%; position: relative ; } .u97b4ac0214dab77ba66332f2cb09bfef .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u97b4ac0214dab77ba66332f2cb09bfef .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u97b4ac0214dab77ba66332f2cb09bfef .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u97b4ac0214dab77ba66332f2cb09bfef:hover .ctaButton { background-color: #34495E!important; } .u97b4ac0214dab77ba66332f2cb09bfef .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u97b4ac0214dab77ba66332f2cb09bfef .u97b4ac0214dab77ba66332f2cb09bfef-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u97b4ac0214dab77ba66332f2cb09bfef:after { content: ""; display: block; clear: both; } READ: The Lottery And Religon EssayRecommendations As far as recommendations are concerned I couldnt really come up with anything. The only thing that came to my mind was the grocery store. If Wal-Mart incorporated groceries into their stores they would put all the rest out of business. I dont think they would have to be cheaper either. The convenience of going to Wal-Mart and getting your grocery shopping done at the same time would be too easy to exploit. They seem to be expanding already as it is but I would definitely continue expansion. . Walmart Essay Example For Students Walmart Essay The first Wal-Mart Store was opened in 1962 by Sam Walton. This small-town merchant, who had operated a variety of stores in Missouri and Arkansas, was convinced consumers would flock to a discount store with a wide variety of merchandise and friendly service. This company has flourished into the worlds number one retailer. From this the company has reached out into grocery (Wal-Mart Supercenters), international operations, membership warehouse clubs (Sams Club), and deep discount warehouse outlets. These expansions into other types of retail have given the corporation even more room for growth. Wal-Marts financial explosion has also lead to the creation of many jobs. With the creation of 85,000 new Wal-Mart jobs, the number of employee for this giant is upwards of 600,000 in the United States alone.Bibliography: We will write a custom essay on Walmart specifically for you for only $16.38 $13.9/page Order now WalMart Essay Example For Students WalMart Essay The purpose of this paper is to compare the revenue recognition policies of two companies in the search, detection, navigation, guidance, and aeronautical systems industry. The two companies I have selected are Aerosonic Corporation, and Esco Electronics Company. Esco Electronics Company is engaged in the design, manufacture, sale and support of engineered products. These products are used principally in filteration/fluid flow applications, electromagnetic compatibility (EMC) testing, and electric utility communications and control systems. The filtration/fluid flow and EMC testing products are supplied to a broad base of industrial and commercial customers worldwide. At the present time, electric utility communications systems are marketed primarily to customers in North America. The four primary industry segments of Esco are Filtration/Fluid Flow, Test, Communications, and other. In order for Esco to conform with generally accepted accounting principles, management must make careful estimates in preparing the financial statements. These estimates are for anticipated contract costs and revenues earned during the life of the contract. These amounts affect the reported amounts of assets and liabilities on the companys financial statements. Actual results could differ from these numbers. We will write a custom essay on WalMart specifically for you for only $16.38 $13.9/page Order now Revenues are recognized on commercial sales when products are shipped or when services are performed. Revenue on production contracts are recorded when specific contract terms are fulfilled. These amounts are determined either by the units of production or delivery methods. Revenues from cost reimbursement contracts are recorded as costs are incurred, plus fees earned. Revenue under long-term contracts in which the previous two methods are inappropriate, the percentage-of-completion method is used. Revenue under engineering contracts are generally recognized as certain milestones are attained. The percentage-of-completion method recognizes a portion of the estimated gross profit for each period based on progress to date. Progress to date is based on three factors. These three factors are the costs incurred to date, the most recent estimate of the projects total cost, and the most recent gross profit percentage. Progress to date is assumed to be the proportion of the projects costs incurred to date divided by total estimated costs. This fraction is known as the estimated percentage of completion, and is the estimated percentage of completion. However, he biggest flaw with this method is that it only deals with costs. This means that there may not be strong correlation between physical progress and costs incurred. Conceptually, one would want to match revenues when the earnings process is judged to be complete. Since costs dont necessarily mean physical completion, the revenues may not represent actual completion. However, this method does match all revenues with appropriate expenses. The audit risks associated with this method is that cost incurrence could be accelerated to increase the estimate of the percentage completed. Lets say Esco is performing a three-year contract. For simplicity, lets say the contract price is $1000. The first year of the contract, actual costs incurred to date is $200, and the estimated remaining costs is $400. This would call for a projected $400 gross profit on the entire project ($1000-$600). To figure out the gross profit for the first year, you would take the actual costs to date ($200) and divide that by the estimated total cost ($600). This equals the estimated percentage of completion (33%). You would then take this number and multiply it by the total project gross profit (33%*$400), and that would be the gross profit earned to date. In subsequent years, you would take the profit earned to date and subtract from it the gross profit recognized in previous years. The next company Id like to talk about is Aerosonic Corporation, who is in the same industry as Esco. The primary business of Aerosonic Corporation is to manufacture and sell aircraft instruments to government and commercial users from its plants in Florida, Virginia, and Kansas. Prior to 1996, the company also sold non-munitions components for artillery projectiles to the U.S. government and automotive and truck parts to commercial customers. .u81a8fbddca394964b637e0379e403678 , .u81a8fbddca394964b637e0379e403678 .postImageUrl , .u81a8fbddca394964b637e0379e403678 .centered-text-area { min-height: 80px; position: relative; } .u81a8fbddca394964b637e0379e403678 , .u81a8fbddca394964b637e0379e403678:hover , .u81a8fbddca394964b637e0379e403678:visited , .u81a8fbddca394964b637e0379e403678:active { border:0!important; } .u81a8fbddca394964b637e0379e403678 .clearfix:after { content: ""; display: table; clear: both; } .u81a8fbddca394964b637e0379e403678 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u81a8fbddca394964b637e0379e403678:active , .u81a8fbddca394964b637e0379e403678:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u81a8fbddca394964b637e0379e403678 .centered-text-area { width: 100%; position: relative ; } .u81a8fbddca394964b637e0379e403678 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u81a8fbddca394964b637e0379e403678 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u81a8fbddca394964b637e0379e403678 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u81a8fbddca394964b637e0379e403678:hover .ctaButton { background-color: #34495E!important; } .u81a8fbddca394964b637e0379e403678 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u81a8fbddca394964b637e0379e403678 .u81a8fbddca394964b637e0379e403678-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u81a8fbddca394964b637e0379e403678:after { content: ""; display: block; clear: both; } READ: Love and Marriage Essay The companys customers are worldwide. Aerosonic generally recognizes revenue from sales of its products on the accrual basis on the date such products are shipped. In certain circumstances, the U.S. government accepts title of products, even though the products are on the Companys premises. When the U. S. government accepts title in writing, and assumes all risks . Walmart Essay Example For Students Walmart Essay Most admired company Stores in all 50 states Nations largest company Does not have a formal mission statement 3 basic beliefs of founder Respect for the individual Service to our customers Strive for excellence Started an IPO in 1970 1999 #1 Stock in the DOW Implementing two new concepts 1. hypermarkets 200000 sq. ft stores that sell everything 2. Supercenters scaled down supercenters International sales were 16.7% of total company sales in fiscal 2003 Operated internationally in 9 years Hometown USA stores. .to provide the neighboring towns with their needs Starting own clothing lines Acquired McLane Company INC.(largest suppliers of food and merchandise to convenient stores) Sams clubs membership cards different levels of cards 32 billion dollar business Supercenters are the companies faster growing division limited of distribution (working to expand food distr.) Locate supercenters by major food stores to provide customers with the option to choose over price, Walmart Essay almost always win this battle and drives the competitors out of town or business One stop shop We will write a custom essay on Walmart specifically for you for only $16.38 $13.9/page Order now 238 supercenters and 71 samclubs internationally after the fiscal year of 2003 united kingdom leader Tesco trying to increase scale of international operation(threat) walmart opposes unions (threat) has worlds largest private satellite communication systems enables to control distribution owns a fleets of truck that deliver goods to any stores with 38-48 hours of the time of order back-haul helps cut cost leads the industry in info technologies Walmart.com profits not made easily over internet.. issues of cost of delivery, merchandise return, and data security All employees have a stake in financial performance and could result in a bonus or promotion . Walmart Essay Example For Students Walmart Essay Wal-Mart is a general merchandise discount retailer, which was incorporated in 1962. Wal-Marts history is based on one man, Sam Walton, who changed the course of retailing forever. Sam Walton first entered retailing when he was a management trainee at J.C. Penny Co. in 1940 in Des Moines, Iowa. After serving in the Army in World War II, Walton acquired a Ben Franklin variety store franchise with his brother James Walton in Newport Arkansas, until they lost the lease to the store in 1950. By 1962, when the first Wal-Mart Discount City was opened in Rogers Arkansas, both Waltons were operating fifteen stores under the Walton 5 10 name, and were the largest Ben Franklin franchisee in the country. Limited pricing, low gross margins, and high inventory turnover characterized these stores. Walton phased out the stores in 1976 in order to focus on the emerging Wal-Mart stores. In 1978, the first distribution center was built, followed by the first Wal-Mart Supercenter in 1983 and a Sams Club in 1988. We will write a custom essay on Walmart specifically for you for only $16.38 $13.9/page Order now Important to Walton, and ultimately Wal-Mart, are certain philosophies that were amounted over time. Walton held these values tightly, and engrained them in the Wal-Mart cultures. From his experience at J.C. Penny Co. he was impressed with the philosophies they used (e. g. The Penny Idea) and used them to mold Wal-Mart. This included referring to employees as associates, serving the public to their complete satisfaction, and receiving a fair profit from services rendered. Waltons theory on what Wal-Mart should be is a conveniently located one-stop shopping unit where customers could buy a wide variety of quality merchandise at discount prices. And as Wal-Mart grew, management sought a firm that was a discount department store chain offering a wide variety of general merchandise to the customer. It was on these values and philosophies that Wal-Mart expanded. Wal-Mart has grown above and beyond the Arkansas store that opened thirty-nine years ago. It serves more than 100 million customers weekly in all of the 50 states, plus Puerto Rico, Canada, China, Mexico, Brazil, Germany, United Kingdom, Argentina, and South Korea. Wal-Marts current operating numbers are: Total Worldwide Associates1,240,000 Wal-Marts financial numbers have grown substantially as well. At the end of the fiscal year 2000, total company sales reached $191 billion dollars. This was an increase over the previous year of 15.9%. Total international sales amounted to $32 billion dollars at the end of the 2000 fiscal year, which was an increase of 41% over the previous year. Wal-Mart is widely recognized as one of the leading discount variety store chains. It is the nations largest discount department store chain, and also one of the largest discounters in the nation in terms of sales dollars. Nations largest discount department store chain. A company with a very defined mission set by Sam Walton. Good distribution concepts with no one store more than 6 hrs. away from warehouse. Constant expansion over lifetime of company. Offers a variety of merchandise for its consumers. Valued their employees and consumers happiness. Everyday Low prices advertising campaign. First retailer to embrace green marketing. Inventory Control system is the best in retail industry. Support of different community activities. Illustrates low prices and at the same time, not portray a cheap image to consumer. Viewed by some consumers as Mom and Pop shop killers. Industry competes on many similar elements. Over exposure to many close markets. Expanding the Sams Club brand and Superstores Partnerships with other businesses to house in store. Inability to enter the Urban Market. Fierce Competition: Kmart, Sears and Target. Getting caught in price wars with competition Economic uncertainty and buying patterns of consumers. Factory Outlet stores with lower price strategies. 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ToysRUs and Home Depot. Wal-Mart targets a wide variety of consumers with many different strategic advertising campaigns. Have you ever heard of that Everyday low prices slogan? This is an example of Wal-Marts mass marketing approach to the marketplace. Wal-Marts specific target market ranges from 25 years old and up. Wal-Mart targets the family oriented consumer who is looking for a good value at a low price. Wal-Mart has numerous strengths and weaknesses that must be analyzed to better understand their industry. (See Appendix for Porters Five Forces analysis of the .