Wal-Mart
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- Date Submitted: 10/09/2010 12:46 AM
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History/Background of Wal-Mart
Wal-Mart was founded by Sam Walton, with the first discount store opening in Rogers, Arkansas, in 1962.
Within five years, the company expanded to 24 stores across Arkansas and reached $12.6 million in sales.
In 1969, the company was incorporated as Wal-Mart Stores, Inc.
Walton was extremely successful in running the stores. The company grew to 276 stores in 11 states by the end of the 1970s, far exceeding expectations
Wal-Mart became the nation’s No.1 retailer in 1990, entering into Mexico, Canada, China, Germany, UK etc, and the first international store opened in Mexico City in 1991.
In 2005, the growth of the company has reached the peak of its industry in US. Wal-Mart Stores Inc was the world’s largest retailer, with $288 billion in sales. The company held an 8.9% retail store market share in the United States, which means that of every $100 that Americans spent in retail stores, $8.9 was spent in Wal-Mart. Wal-Mart, was also the largest private-sector employer which employed more than 1.6 million associates worldwide. The information technology that powered Wal-Mart’s supply chain and logistics was the most powerful, next only to the computer capability of the Pentagon. Wal-Mart had the largest privately owned satellite communication network in the U.S. and broadcasted more television than any network TV.
So how could Wal-Mart be so successful?
We will now look at their good strategies.
Corporate Strategy
Purpose
In terms of Corporate Strategy.
Wal-Mart has the tenet:
“In everything they do, they’re driven by a common mission, which is, Saving people money so they can live better.”
Patterns in resource allocation
Wal-Mart stores are related diversified as Wal-Mart's operations are organized into three divisions: Wal-Mart Stores U.S., Sam's Club, and Wal-Mart International. It consists of three retail formats that have become commonplace in the United States: Discount Stores, Supercenters, and Neighborhood...
Wal-Mart was founded by Sam Walton, with the first discount store opening in Rogers, Arkansas, in 1962.
Within five years, the company expanded to 24 stores across Arkansas and reached $12.6 million in sales.
In 1969, the company was incorporated as Wal-Mart Stores, Inc.
Walton was extremely successful in running the stores. The company grew to 276 stores in 11 states by the end of the 1970s, far exceeding expectations
Wal-Mart became the nation’s No.1 retailer in 1990, entering into Mexico, Canada, China, Germany, UK etc, and the first international store opened in Mexico City in 1991.
In 2005, the growth of the company has reached the peak of its industry in US. Wal-Mart Stores Inc was the world’s largest retailer, with $288 billion in sales. The company held an 8.9% retail store market share in the United States, which means that of every $100 that Americans spent in retail stores, $8.9 was spent in Wal-Mart. Wal-Mart, was also the largest private-sector employer which employed more than 1.6 million associates worldwide. The information technology that powered Wal-Mart’s supply chain and logistics was the most powerful, next only to the computer capability of the Pentagon. Wal-Mart had the largest privately owned satellite communication network in the U.S. and broadcasted more television than any network TV.
So how could Wal-Mart be so successful?
We will now look at their good strategies.
Corporate Strategy
Purpose
In terms of Corporate Strategy.
Wal-Mart has the tenet:
“In everything they do, they’re driven by a common mission, which is, Saving people money so they can live better.”
Patterns in resource allocation
Wal-Mart stores are related diversified as Wal-Mart's operations are organized into three divisions: Wal-Mart Stores U.S., Sam's Club, and Wal-Mart International. It consists of three retail formats that have become commonplace in the United States: Discount Stores, Supercenters, and Neighborhood...