Walmart's Management Strategies Inside And Out

1586 words - 6 pages

Wal-Mart PAGE 1
Running head: WAL-MART'S MANAGEMENT STRATEGIES INSIDE AND OUTWal-Mart's Management Strategies Inside and OutMelissa TrevinoMichelle PhelpsCassandra ScottJames BullardEstella SmithChalice GoldenUniversity of PhoenixMay 15, 2008Wal-Mart's Management Strategies Inside and OutMany consumers have become familiar with Wal-Mart and use it as one stop shopping for groceries and household items. The fact that Wal-Mart has become an icon in the discount retail world means Sam Walton's dream as been realized. His dream would not have come true had it not been for a team of managers and employees to help him along the way. The managers took care of the planning, organizing, leading and controlling necessary to ensure success. The tasks associated with those functions were delegated to thousands of employees. Those employees also enable the managers to keep up with external diversions such as globalization and internal concerns such as technology and innovation. Executives are also concerned with guaranteeing that the diversity and ethics principles of the company are upheld. All of these factors must be considered within the scope of the four functions of management.. Wal-Mart is leading in the retail industry sales; the company has 216 billion in sales the second largest company after Exxon Mobil. The corporation has 1.8 million staff, biggest private sector employment in the world. The company is committed to a diverse workplace that provides the associates opportunities to grow and develop. Wal-Mart feels in order to stay out in front of change today diversity is essential inside the company and externally with the shareholders.Wal-Mart controls the market with low prices and a variety of merchandise. The company leads by offering low prices as a superstore with a mind set of everything in one location to provide the customers with even more savings including gas and time. One can almost find everything needed at Wal-Mart. This idea also forces the competition to follow suit, or succumb to bankruptcy. The company leads the industry all over the world and has built consumers' confidence with quality product and services. The company was one of the first big retailers to go green, but changing light bulbs and cutting down on packaging. They are leading in pharmacy industry having a four-dollar prescription plan that saves customers more than one billion dollars. To keep Wal-Mart at the top of the charts, mangers must heed plans and standards that have been set in place.A team of leaders came together and implemented a strategic plan to balance growth and improve returns on investments. Through the planning efforts Wal-Mart would be able to obtain a more focused store growth program, increase customer relevance, and maintain a moderate capital investment plan. This plan would yield a higher U.S. return on investments, and reduce capital expenditures, resulting in higher U.S. sales. The growth potential of this planning strategy would...

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