Management Processes: An Example Of Successful Change Of Wal Mart.

692 words - 3 pages

An Example of Successful ChangeIntroductionWhy is Wal-Mart so Successful? Is it Good Strategy or Good Strategy Implementation? 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 Walton's talent for discount retailing not only made Wal-Mart the world's largest retailer, but also the world's number one retailer in sales. Sam Walton has made certain changes that help Wal-Mart to achieve its success today. His change techniques involve changing people, technology, and product. Indeed, Wal-Mart was named "Retailer of the Decade" by Discount Store News in 1989, and on several occasions has been included in Fortune's list of the "10 most admired corporations."Changing PeopleWal-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 become a superstore, Wal-Mart decided to change the skill level of its workforce. Walton's greatest accomplishment was his ability to empower, enrich, and train his employees. He believed in listening to employees and challenging them to come up with ideas and suggestions to make the company better. At each of the Wal-Mart stores, signs are displayed which read, "Our People Make the Difference." Associates regularly make suggestions for cutting costs through their "Yes We Can Sam" program. The sum of the savings generated by the associates actually paid for the construction of a new store in Texas. One of Wal-Mart's goals was to provide its employees with the appropriate tools to do their jobs efficiently. The technology was not used as a means of replacing existing employees, but to provide them with a means to succeed in the retail market (Thompson and Strickland 93).Changing ProductWal-Mart stores operate according to their "Everyday Low Price" philosophy. They provide customers access to quality goods, to make these goods available when and where customers want them, to develop a cost structure that enables competitive pricing, and to build and maintain a reputation for absolute trustworthiness (Evan, Shulman, and Stalk, 55). Through Sam Walton's "Buy America" policy, Wal-Mart...

Find Another Essay On Management Processes: An Example of Successful Change of Wal-Mart.

Historical Bckground of Wal-Mart Essay

2127 words - 9 pages Historical Background of Wal-Mart Walmart is an American multinational retail corporation that runs chains of large discount department stores and warehouse stores in most countries in the world. The company is the world’s second largest public corporation; Wal-Mart remains a family-owned business, as the company is controlled by the Walton family, who own a 48 percent stake in Wal-Mart. It is also one of the world’s most valuable companies

Swot Analysis of Wal-Mart

3324 words - 13 pages to implement their retail link systems that they hope to completely implement in the near future. One of the successful stories behind the retail link is the introduction of pampers disposable diapers. Wal-Mart turned an item that had a turnover rate of 25 times per year to 125 times per year. This success translated into dramatically lower inventory productivity costs for Wal-Mart and its suppliers. The retail link works because it is built on

Strategic Audit of Wal-Mart

2685 words - 11 pages successful and profitable. Within seven years of the opening of that first store, Wal-Mart became incorporated. One year after that the first distribution center was opened, and the corporation became public on the New York Stock Exchange.By the year 2000, Wal-Mart earned the discount of "Retailer of the Century" (Discount Store News, Nov 8, 1999). In addition, the corporation became one of the "Most Admired Companies in America," (Fortune Magazine), as

Globalization of the Wal-mart

1030 words - 4 pages the time, and customer will flock to you". This policy gave Wal-mart enormous success around the country. With this policy they have attracted lots of customers and from one store started in Rogers, Arkansas they grew into nine super centers till 1990 and then to 888 super centers in 2000. It had opened an average of 7 new super centers each month continuously for 120 months. It was an outstanding achievement. After this achievement Wal-mart was

Wal-Mart Supply Chain Management

2110 words - 8 pages name by doing so. At the same time, this benefit has created an enormous supply chain management problem. How can Wal-Mart effectively keep all of its stores supplied when their stores are spread all over the country? Supply chain management is an important process for Wal-Mart. The suppliers are the root of their supply chain management system. To maintain high quality products, Wal-Mart has developed supplier standards that all

Annual report evaluation of Wal-Mart

1684 words - 7 pages between increasing its profits and recognizing its social and ethical responsibilities. The Wal-Mart philosophy is successful not only because it makes sound strategic management decision, but also for its innovative implementation of strategic decisions. Walton fostered his company on three guiding principles: 1. Customer value and service; 2. Partnership with its associates; 3. Community involvement (The story of Wal-Mart, 1995). Wal-Mart operates

The Ethics of Shopping at Wal-Mart

1009 words - 4 pages of this evolutionary process toward fewer and bigger. Wal-Mart has come to symbolize the destruction of traditional downtowns and community. From its start thirty-five years ago, Wal-Mart now has stores in all fifty states (with the larger ones being over 200,000 square feet). In 1997, it had a U.S. workforce of more than 700,000 people and $118 billion sales. The landing of these big boxes has become a symbol and sometimes an example of big, car


5340 words - 21 pages chain stores they are running with; they have more than 1000 chain stores to run with their business. Regarding of their huge chain stores, how to management the working capital management affect the entire organization success or not. Wal-Mart is the biggest retail business in the world. They also expense their market into world and become an international business. They sell products by their retail stores and internet stores, and these stores

History of Beyond Petroleum and Wal-Mart

1183 words - 5 pages 1999, Wal-Mart had extended its business to over ten countries and had an employee base of one hundred and thirty thousand employees working outside the United States of America. Wal-Mart had a worldwide employee base of more than nine hundred and fifty thousand. In 2006, Wal-Mart announced that it would collaborate with Bharti to open up retail store, in India for a period of five years. This information shows that Wal-Mart is globalizing at a

Operations Management Within Wal-Mart

1789 words - 7 pages guide and inspire the company'soperation, behavior, ethics and practices. All levels of Wal-Mart employees alsoadhere to a corporate directive of the 'Sundown Rule' and the 'Ten Foot Rule'.This requires that an employee must reasonably answer a customer's orsupplier's request or question within 24 hours whereas the latter rule states thatstore employees must greet, smile and attend to a customer in a store whenwithin ten feet of them.Wal-Mart's


650 words - 3 pages Wal-Mart workers were allowed to work only 28 hours per week and 2/3 of them earn an annual wage that is below the poverty level for a family of three. Moreover, Wal-Mart never credits the overtime on the time sheets of workers. In many reported cases, they have been locked into stores after hours to work late into the night and early morning on special displays, but were not paid overtime. Many court suits have been made against Wal-Mart for that

Similar Essays

An Example Of Successful Management: Andrea Jung

1197 words - 5 pages Management is a job that is “harder than it looks,” as the saying goes. Not only must you have a plan, be able to organize, control, and lead, you must be able to continue to make decisions that will benefit not only the company, but everyone involved in said company. That involves stockholders, employees, and management that is both above and below what position you may be in. Andrea Jung, one of the most successful CEOs is an example of

Analysis Of Wal Mart

2707 words - 11 pages that some small town doesn’t want Wal Mart to install its stores because they want to maintain a sort of local economy that would be destroyed by the opening of a Wal Mart store. As we know Wal Mart sells highly standardized products and for the people the switching cost to change from one to another store is very low. I think that Wal Mart is big enough and that the management has now to concentrate on the numerous

Company Of Wal Mart Essay

1406 words - 6 pages stalls in the United States. Due to its resolution to cutting down on its employees, Wal-Mart has also been characterized by customer complaints as a result of empty shelves. This served as an advantage to the competitors such as the Kohl’s, Safeway, Target, and Walgreens. In February this year, 2013, Wal-Mart was placed last among the department and discount stores in the American Satisfaction index, and has been taking the last position or tying up

Control Mechanisms Of Wal Mart Essay

1516 words - 6 pages . Throughout this paper, an address will be made to the control mechanisms that Wal-Mart uses within its normal business practices. In addition, a reflection will be made on how the control functions are utilized and what measures are taken to monitor such measures within management.Control mechanisms are the functions which help maintain the processes of companies to reach their goals. Wal-Mart is a large corporation whose goals include making the