Sam Walton was an up-rising business owner before he unlocked the doors for the beginning of Walmart in 1962. He and his wife operated the Ben Franklin discount dime chain stores, Sam Walton had a vision for the outlook of his new store, which is similar to the mission statement for Walmart today To have Lowest prices anytime, anywhere.
According to my research on corporate.walmart.com, Sam Walton was prosperous in the first five-year duration with a revenue of $12.7 million. In 1970, the company became publicly traded. The Walton family are a big part of Walmart, as they are controlling shareholders of the company. A decade passes, and the company celebrated making $1 billion. Soon after that success, the doors of the first Walmart Supercenter, and Sam’s Club opened for the public. Sadly, Sam Walton died of cancer in 1992.
Sam Walton received The Presidential Medal of Freedom from the President before his death, he designed a goal for the company with these words: “If we work together, we’ll lower the cost of living for everyone. We’ll give an opportunity to see what it’s like to save and have a better life”.
Walmart’s goal providing the lowest prices is hurting the image and innovation Sam Walton built and problematic for unemployment in our nation. What it costs for wages and production are cheap in third world countries. This causes a problem for the American economy due to, a large amount of jobs is sent overseas. This is one of the reasons for unemployment in America.
Walmart is a hierarchy organization, this is because people in the organization are at a position from a subordinate to senior levels which enforces rules. There is a diversity of people with different cultures employed with Walmart.
The company offers programs to help their associates build their careers within Walmart working with us N.D. Although, the company can also afford to pay every employee $12 an hour and still maintain a profit, nonetheless they do not.
I interviewed three employees at my local Walmart. According to their website it states there is open door policy for employee and managers to communicate any work-related problems and the issue would be resolved at best that same day. The employees I interviewed found that to be hypocritical. Sonya, an associate in Bakery and Deli, an employee at Lakewood, Colorado, Walmart for five years stated:
The store very often has had a turnover in management and whenever we get a decent manager they get transferred or quit. I reviewed questions and answers online from employees about the workplace environment on website Indeed.com. The posts regarding the workplace environment at Walmart are that it is a fast-paced environment. The employees made complaints that they are expected to do more than the job criteria. There were some positive reviews, however employees are concerned of the fact they are working part time, but feel they are working full-time hours, without the benefits.
Over one third of the employees are part-time and do not qualify for health benefits. The full-time employees cannot afford the health plan benefits Walmart?© offers, since the cost is thirty five percent of their salary. This causes the employees to rely on government assistance in some cases. Working at Walmart case study.
Walmart remains in competition with other stores, therefore the company must maintain a strategy in the marketing mix. The corporation offers customers one stop shopping convenience with assistance from sales associates. This influences how the customer feels as they shop.
The pricing strategy falls on the lowest prices they offer every day, this will generate business and contribute to competitiveness Walmart’s promotional mix is an arrangement of public relations, promotions and sales, such as the Rollback displays throughout the store along with the price match, where the shopper shows a lower price Walmart will match the price. This will help the company attract customers into the stores.
Walmart continues to open new stores in different areas to reach more customers to give people convenient shopping with lower prices.
The data I am sharing in my report is based on Walmart’s financials in the United States. Overall, Walmart’s 2018 annual report shows $500 billion in total revenue. This is an achievement for Walmart’s, it is a record breaking amount. The companies operating cash summed to $28.3 billion and returned $14.4 billion in dividends and share repurchases to shareholders. Walmart earnings of 2018 beat estimates.
The company put money in redesigning the Walmart website to compete with Amazon, overall online earnings exceeded 40 percent. However, online grocery shopping may decrease as the company is investing to add more delivery options. Further, in attempt to improve their relationship with customers and employees they increased wages. Walmart beats on earnings and revenues.
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