Walmart is a highly successful discount store based in whole on its founders beliefs and convictions. Sam Walton wanted to make a difference amongst the retail dynasty. A great foundation was implemented for his customers, associates, and community. These beliefs are what today still keeps the store sky rocketing to successful measures.
Walmart first department stores opened in a small lower income town called Rogers, Arkansas on July 2, 1962. Sam Walton had a vision of providing inexpensive goods to small town markets. Walmart went public on October 1, 1970 to the trading public. It started at $16.50 a share which was a good start then. In 1991 Walmart expanded internationally, starting in Mexico City. Currently as of July 2004 Walmart have opened more than 1,409 discount stores in the US, 1,562 super centers, 539 Same clubs, and more than 1,506 international Walmarts in various countries.
The industry which Wal marts lie is known as the giant Retail business. The current size is 5,016 total stores in both domestic and internationally. The growth of this company is sky rocketing and leaving any room for competition to keep up. Based on the current sales Walmart is ranked as one of the top retail if not best retail store in the world. It roughly brings in 256,329,000 net sales a year and its net profit is around 10,803,000 a year. With the turn around rates, an accurate calculation of current employees is not attainable, however there is a documentation of 1.3 million current associates worldwide. This includes stores, clubs and 10 international countries.
Walmart has several different departments that I was able to find. The financial department is an extremely important department for Walmart. This is the department that is set up to protect corporate assets throughout their specialties. There are several sub departments under the main title of Finance Department. One is the account payable group. This group is set up to makes accurate payments to suppliers, and negotiates with these suppliers on conditions and agreements. The next sub department is the accounts receivable group. This group is responsible for the collecting or collections of any source of money or payments due to the number of super centers, discount stores, neighborhood markets, and sam’s club. They also manage the payment from royalties. The last group or sub department is where the taxes are handled. The tax department is in charge of which handling any and all domestic and international taxation laws.
Another department in the Walmart corporation is the Communication department. This department handles the media aspect of the company. Some different sub groups under communication are the television broadcasting group, video production team, the publishing team, and lastly the group that sets up meetings to support like...