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Wal-Mart Cross Border Activity Europe Introduction: IN BUSINESS, THERE IS BIG, AND THERE IS WAL-MART. With $245 billion in revenues in 2002, Wal-Mart Stores Inc. is the world’s largest company. It is three times the size of No. 2 retailer, France’s Carrefour. Every week, 138 million shoppers visit Wal-Mart’s 4,750 Stores; last year, 82% of American households made at least one purchase at Wal-Mart. At Wal-Mart, “everybody low prices” is more than a slogan; it is the fundamental tenet of a cult masquerading as a company. Over the years, Wal-Mart has relentlessly wrung tens of billions of dollars in cost efficiencies out of the retail supply chain, passing the larger part of the savings along to shoppers as bargain prices. The Founder of Wal-Mart: Sam Walton If judged by appearance Sam Walton was a very ordinary man. He was Raised in the Depression years, and served in the army during World War II. It was he, who from humble beginnings built the worlds most admired Retail organization. Sam had a passion to compete and an appetite for adventure. He realized that Wal-Mart needed to do more than offer low prices to be successful - it also had to exceed customers' expectations for quality service. Sam devoted his life to expanding and improving upon this concept. He was also a good motivator of people, because he practiced what he preached. He remained guided by the old-fashioned principles of hard work, honesty, neighborliness and thrift. Even after his death in 1992, those principles continue to guide the company as it expands into other countries and cultures. Wal-Mart History: Wal-Mart started with an understanding of what consumers want from a retailer. "The secret of successful retailing is to give your customers what they want." Wal-Mart's founder, Sam Walton wrote in his autobiography, "And really, if you think about it from your point of view as a customer, you want everything: a wide assortment of good quality merchandise; the lowest possible prices; guaranteed satisfaction with what you buy; friendly; knowledgeable service; convenient hours; free parking; and a pleasant shopping experience.
Approximate Word count = 1310
Approximate Pages = 5.2
(250 words per page double spaced)
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