Monday, August 12, 2019
The Inside Story of Wal-Marts Success Essay Example | Topics and Well Written Essays - 750 words
The Inside Story of Wal-Marts Success - Essay Example Wal-Mart has initiated its business from the United States and expanded its stores nearly in every corner of the world that include countries such as Puerto Rico, Canada, China, Mexico, Brazil, Germany, Argentina and many more. Wal-Mart is a place where one can find all the varieties of the needy stuff from clothes to shoes, cleaning supplies, health and beauty support, food, home decor, electronic appliances, automotive, in fact, everything. In other words, Wal-Mart can come under the terminology of a convenient one-stop store that is available at the best prices an individual can think (Soderquist, pp. 1-9). Sam Walton is the mastermind that lays behind the concept of Wal-Mart, which came into appearance roughly a few centuries ago, which is comparatively a young but very well established and entrenched company. Their strategic sales and planning are the unique and inimitable features that have not only provided them an edge over all their competitors throughout all these years but also made them the biggest retailers in the history of the world. The capability and talent of Sam Walton for discounts retailing have been the most successful strategy that has heightened the image of the Wal-Mart and made them stand on the top position for its tremendous sales in the retail business. Indeed, the innovative implementation of these strategic decisions is the chief component that makes Wal-Mart a flourishing company. However, the ultimate goal of Wal-Mart has always been to keep prices lower than the average cost, so that the customer can save a significant amount while shopping at Wal-Mart (Bergdahl, pp. 38-42). Customers, employees or associates and the community were the top priority for Walton. The phrase Ã¢â¬ËCustomer is always rightÃ¢â¬â¢ was one of the deepest viewpoint and philosophy regarding the customers that are still in practice until the current day.