Walmart Winning Strategy Essay
Sorry, but copying text is forbidden on this website!
Wal-Mart Stores, Inc. operates retail stores in various formats around the world, aggregated into three reportable segments: (1) the Wal-Mart U.S. segment; (2) the Wal-Mart International segment; and (3) the Sam’s Club segment. We are committed to saving people money so they can live better. We earn the trust of our customers every day by providing a broad assortment of quality merchandise and services at every -day low prices (“EDLP”) while fostering a culture that rewards and embraces mutual respect, integrity and diversity.
EDLP is our pricing philosophy under which we price items at a low price every day so our customers trust that our prices will not change under frequent promotional activity. Our fiscal year ends on January 31. Wal-Mart Stores Inc. is the largest retail company in the United States and has been ranked number one on the Fortune 500 Index by Fortune Magazine. Wal-Mart has four parts to their corporate strategy. Wal-Mart is dominant in the Retail Market.
Wal-Mart has expansion in the U.S. and International Market. Wal-Mart has a creation of positive brand and company Recognition. Wal-Mart is able to branch out into new sectors of retail. Wal-Mart’s public affairs strategy must work to make implementation of these policy goals happen. Its public affairs strategy enables the company to move into other sectors of the marketplace and expand into foreign countries. The public affairs strategy also involves gaining access to politicians who can help Wal-Mart achieve its goals. Wal-Mart has a very active Political Action Committee that gives almost a quarter million dollars annually. While Wal-Mart’s public affairs strategy works well with its corporate strategy. We feel that there are a few recommendations which could make the company work better. Recently, Wal-Mart has been criticized for their opposition to allowing their employees to be unionized.
Wal-Mart needs to clarify their reasons for their opposition to unionization. The public affairs strategy must also address the negative feelings harbored by some groups who feel that Wal-Mart is encroaching into far too many other sectors retail than it should. These concerns must be addressed if Wal-Mart is to enjoy continued success in creating positive name recognition. The mission of Wal-Mart is to serve their members with strong advocacy, quality information, and responsive member services. Their vision is to continue building on our unique position, “the only research association serving an international membership.” Effective strategy incorporates a view from the customer and stakeholder perspective, and includes an understanding of customer needs, product and service characteristics, desired relationships and the desired “corporate image” that the organization wants to portray.