Company Overview Wal Mart - 2216 Words

The need for transformation in any given organization arises when discontent is felt at the current procedures and strategies of the organization (Oden, 1999, p.20). The results gained from the procedures perfected over time by the organization, may become unprogressive and may actually make the owners of these companies question their own values before any outsider does. With so much competition in the ever-changing market, change and good change at that, becomes a necessity. This change should come following a strategy lest it be lost to the whims of employees. Company Overview The first Wal-Mart opened its gate to the public in 1962 in Rogers, Arkansas (Minter Reid, 2007). The philosophy behind opening this store was providing the general populace with great products at a reduced price and good customer service. The stores hit it off due to the great associations made with local suppliers by Wal-Mart to reduce the price. The control of the organization is currently 50% under the Walton family and the other half is shared by the public. Wal-Mart’s organizational system is a compact hierarchy. At present, about 11,500 retail centers present worldwide with about 2.1 million employees and about 3000 suppliers of a wide variety. Wal-Mart serves 250 million customers every year and right now has a net worth of about 230 billion dollars. Wal-Mart is opening up to possibilities of e-commerce at present, to further its reach into the population by providing more ease to theShow MoreRelatedWal Mart Company Overview Essay1757 Words   |  8 PagesBasic History Overview Wal-Marts history is one of innovation, leadership and success. It started with a single store in Rogers, Arkansas in 1962 and has grown to what is now the worlds largest - and arguably, the most emulated - retailer. Some researchers refer to Wal-Mart as the industry trendsetter. Today, this retailing pioneer has annual revenues of over $100 billion, 3,000 stores and more than 750,000 employees worldwide. Wal-Mart operates each store, from the products it stocks, toRead MoreEssay on Wal Mart Company Overview1644 Words   |  7 Pages â€Å"Basic History Overview† Wal-Marts history is one of innovation, leadership and success. It started with a single store in Rogers, Arkansas in 1962 and has grown to what is now the worlds largest - and arguably, the most emulated - retailer. Some researchers refer to Wal-Mart as the industry trendsetter. Today, this retailing pioneer has annual revenues of over $100 billion, 3,000 stores and more than 750,000 employees worldwide. Wal-Mart operates each store, from the products it stocks, to theRead MoreWal Mart s Company Overview And History4402 Words   |  18 PagesCompany Overview and History Wal-Mart is the world’s largest retailer operating over 11,000 retail units under 71 banners in 27 countries and e-commerce websites in 11 countries (Wal-Mart, 2014). It employs 2.2 million associates around the world — 1.3 million in the U.S. alone. Since the first Wal-Mart store opened in 1962 in Rogers, Arkansas, Sam Walton expanded nationally to 51 stores with recorded annual sales of $78 million by 1972 when Wal-Mart was listed on the New York Stock Exchange (WMT)Read MoreWal-Mart Store Company Overview Term Paper1294 Words   |  6 PagesWal-Mart Stores, Inc. Executive Summary Wal-Mart has grown to be the world’s largest retail and grocery store with sales soaring to $419 billion in fiscal year 2011. Wal-Mart employs over 2 million associates worldwide in 9,600 retail units and operates in 28 countries. Wal-Mart has enjoyed its success since 1962 when the first store opened in 1962 in Rogers, Arkansas. Wal-Mart was founded by Sam Walton who envisioned a retail store that could â€Å"save people money to help them live betterRead MorePhl 323 Week 3 Ethical Issues Walmart Paper1535 Words   |  7 Pagesconducted. How a company conducts itself as a business and a corporate citizen is critical to its success. Wal-Mart is the largest retailer in the world; however they are not exempt to acting ethically. In December 2008, Wal-Mart settled 63 laws suits that spans over several years across 42 states accuses Wal-Mart of cheating workers on pay. The settlement cost Wal-Mart $352 million. Based on comments made by Wal-Mart attorneys and spokespeople, it was clear that the company realized that theyRead MoreTarget Corporation versus Wal-Mart Inc. Essay1619 Words   |  7 PagesTarget Corporation versus Wal-Mart Inc. Overview This paper will give a summary of Target corporation versus Wal-Mart stores, Incorporated. In the following weeks it will compare the financial performances of these two companies, by evaluating circumstances such as the times interest earned, return on equity, return on assets and other factors. This paper will present an overview of the exchanges on which both company’s stock is traded. It will also present characteristics of that particularRead MoreWal Mart And The Largest Retail Company1137 Words   |  5 PagesIntroduction Wal-Mart started as a small firm, with a single discount store and the simple idea of selling more for less. The company has gone a long way from one store to having more than 11,500 stores in 28 countries. Wal-Mart has been a very successful by becoming the largest retail company in the world employing 2.2 million in the World and 1.4 million in United States. This project is about the problems of Wal-Mart as a company with employees and the community at large. The company is known forRead MoreWal Marts Success Story: Business Model and Organizational Strategy1013 Words   |  4 Pagesthis text, I choose to concern myself with Wal-Mart - a fortune 500 company. In so doing, I will amongst other things discuss the stores business model as well as organizational strategy. Further, I will also highlight not only the products the company offers for sale but also its industry and market position. Wal-Mart: An Overview Wal-Mart according to Yahoo Finance (2012) operates retail stores in various formats worldwide. Currently, the company is not only the worlds largest retailer butRead MoreWal Mart As A Symbol Of The United States1613 Words   |  7 PagesOverview: Sam Walton founded Wal-Mart in 1962 in Roger, Arkansas. In a little less than 10 years, Wal-Mart had 38 locations and was opening two stores per year. In 1970, the company started trading in the New York Stock Exchange. By 1979, the company announced a record $1billion sales and it became the first company to do so. Wal-Mart reached record after record during those years, and by the end of 1989, Wal-Mart reported after tax-profits of $1billlion. Wal-Mart now has become a symbol ofRead MoreWal-Mart Swot Analysis1260 Words   |  6 PagesRunning head: Wal-Mart SWOT Analysis Wal-Mart SWOT Analysis September 10, 2012 | | Wal-Mart SWOT Analysis Wal-Mart’s founder Sam Walton had an idea to save customer’s money by keeping sales prices lower than many of his competitors. Mr. Walton’s goal was accomplished by reducing his profit margin and now, Wal-Mart has become the world’s largest company, in terms of returns. According to Datamonitor (2012) recorded revenues of $421,849 million was Wal-Mart’s income in 2011, an