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Why is Wal-mart so Successful? ... Wal-Mart executives continue to rely on many of the traditional goals and philosophies that Sams legacy left behind, while simultaneously keeping one step ahead of the ever-changing technology and methods of todays fast-paced business environment. ... The future also looks bright for Wal-Mart, especially if it is able to strike a comfortable balance between increasing its profits and recognizing its social and ethical responsibilities. Why is Wal-Mart so Successful? ... -- In 1962, when Sam Walton opened the first Wal-Mart store in Rogers, Arkansas, no one could have ever predicted the enormous success this small-town merchant would have. Sam Waltons talent for discount retailing not only made Wal-Mart the worlds largest retailer, but also the worlds number one retailer in sales. Indeed, Wal-Mart was named "Retailer of the Decade" by Discount Store News in 1989, and on several occasions has been included in Fortunes list of the "10 most admired corporations." Even with Waltons death (after a two-year battle with bone cancer) in 1992, Wal-Marts sales continue to grow significantly.The Wal-Mart Philosophy-Wal-Mart is successful not only because it makes sound strategic management decisions, but also for its innovative implementation of those strategic decisions. ... In order to maintain its market position in the discount retail business, Wal-Mart executives continue to adhere to the management guidelines Sam developed. ... Community involvement (The Story of Wal-Mart, 1995). The Customer-The word "always" can be seen in virtually all of Wal-Marts literature. ... When questioned about Wal-Marts secrets of success, Walton has been quoted as saying, "It has to do with our desire to exceed our customers expectations every hour of every day" (Wal-Mart Annual Report, 1994, p. ... At each of the Wal-Mart stores, signs are displayed which read, "Our People Make the Difference. ... The sum of the savings generated by the associates actually paid for the construction of a new store in Texas (The story of Wal-Mart, 1995). One of Wal-Marts goals was to provide its employees with the appropriate tools to do their jobs efficiently. ... The Community-Wal-Marts popularity can be linked to its hometown identity. ... Wal-Mart is involved in many community outreach programs and has launched several national efforts through industrial development grants. What are the Key Features of Wal-Marts Approach to Implementing the Strategy Put Together by Sam Walton-The key features of Wal-Marts approach to implementing the strategy put together by Sam Walton emphasizes building solid working relationships with both suppliers and employees, being aware and taking notice of the most intricate details in store layouts and merchandising techniques, capitalizing on every cost saving opportunity, and creating a high performance spirit. ... Wal-Mart stores operate according to their "Everyday Low Price" philosophy. Wal-Mart has emerged as the industry leader because it has been better at containing its costs which has allowed it to pass on the savings to its customers. Wal-Mart has become a capabilities competitor. ... Wal-Mart has been regarded as an industry leader in "testing, adapting, and applying a wide range of cutting-edge merchandising approaches" (Thompson & Strickland, 1995, p. ... Wal-Mart has invested heavily in its unique cross-docking inventory system. Cross docking has enabled Wal-Mart to achieve economies of scale which reduces its costs of sales. ... A company owned transportation system also assists Wal-Mart in shipping goods from warehouse to store in less than 48 hours. This allows Wal-Mart to replenish the shelves 4 times faster than its competition. Wal-Mart owns the largest and most sophisticated computer system in the private sector.
Approximate Word count = 3024
Approximate Pages = 12.1
(250 words per page double spaced)
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