...Joseph Garrity Intro to Business Professor Patricia Devlin 13 September 2013 Chapter 1 7. Explain how current economic indicators, such as inflation and unemployment, affect you personally. Explain how they may affect you as a manager. The current economic indicators may affect me personally because if the unemployment rate is too high I will struggle to find a job, and if inflation is too high then it would be very hard for me to pay for my needs, such as food and rent. The current economic indicators may affect me as a manager because inflation would cost me a lot of money and as a result I would have to stop hiring workers. The unemployment rate would rise because of inflation, and as a result it would be hard to find workers. 9. Visit a local shopping mall or shopping area. List each store that you see and determine what degree of competition it faces in its immediate environment. For example, if there is only one store in the mall that sells shoes, that store represents a monopoly. Note those businesses with direct competitors (two jewelry stores) and show how they compete with one another. In the Willowbrook Mall, Abercrombie & Fitch is a store that sells primarily clothes or accessories to the consumers. However, the competitors are Hollister Co., J. Crew, and Banana Republic because they also sell similar items, but have their own brand of clothing as well. They have different prices or the same prices depending on the clothes they are selling. Follow-up...
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... In choosing an industry in which two or more companies that have been voted on some of the best places to be employed and carefully reviewing the Top 100 companies on Forbes I have chosen Wal-mart and Target. Wal-mart and Target are the leaders in the Retail industry. Both have many things in common when discussing corporate culture. Wal-mart and Target are both very customer driven. You can go into a store owned by either business and be met by knowledgeable, helpful employees. The type of service provided is a direct reflect of the type of training that is provided by each companies Human Resources Department. Each company has also embraced the idea of focusing on customers’ needs as well the needs of their employees and realizing that taking care of their employees is a way to build a strong team. Another way that these companies mirror each other is through community service efforts, both strive to be good corporate citizens at a time when the communities really need the help. Determine how each corporate culture differs from the other. Target corporations pay entry level employees less than Wal-mart. Target is considered more restrictive in terms of health care insurance. A few years ago, Target dropped health care insurance coverage for all part-time workers. By contrast, Wal-Mart makes its medical plan available to all workers, full- and...
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...clearest direct intentional connection between the culture built around a product, service, or firm and a potential customer. In a market-directed economy, where the dollar “vote” decides, marketing is the campaigning for those votes (FIT, 2012). Target Corporation has thrived on a very successful marketing strategy that has a keen understanding of their customers and an ability to reach them, delivering what they want (before they even know that they want it). Their annual report defines their customer profile as: • Median age of 40 • Median household income of approx. $64K • Approximately 43% have children at home • About 57% have completed college (investor.target.com) “Expect More. Pay Less” clearly sets the (marketing) stage. Target is well-known for market strategy that partners with current designers (like Jason Wu, Stella McCartney, Converse) and artists (like Taylor Swift, Michael Buble and Tony Bennett) to deliver limited-time offers that drive customer demand and interest and media buzz. Target recently partnered with Justin Timberlake to offer two exclusive recordings and appearances aligned with his recent album release. Even television viewers accustomed to ad-skipping have doubtless caught the latest Target commercial promoting Justin Timberlake's third album, "The 20/20 Experience." Among the hot trending videos on YouTube, "JT Superfans (Behind The Scenes)" takes viewers backstage to listen to interviews with the fans donning costumes, talking about...
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...Case Study 1-2 Wal-Mart Stores, Inc., in 2010 In 1979, Wal-Mart store was an unknown retailer compared to Kmart, the industry leader. “In less than 25 years, Wal-Mart had risen to become the largest corporation in sales,” (Barney & Hesterly, 2012, PC 1-13). Wal-Mart had many challenges to face in the discount trade. This case displays Wal-Mart’s competitive advantages, how they developed them, if they are sustainable and how they have battled with their competitors. Furthermore, through the VRIO Framework and Porter’s Five Forces Model, it helped analyze how Wal-Mart has strived passed its competitors and what keeps it the market’s frontrunner. Competitive Advantages Wal-Mart has a competitive advantage over other discount stores. Competitive advantage is described as, “When it is able to create more economic value than rival firms,” (Barney & Hesterly, 2012, p 10). The most critical competitive advantages over their competitors would be pricing. “Large discount retailers such as Wal-Mart derived considerable purchasing clout with suppliers because of their immense size,” (Barney & Hesterly, 2012, PC 1-7). Due to the fact that Wal-Mart has so many stores, they can negotiate price. Competitors were not able to get their products pricing down as low as Wal-Mart’s, which in return allowed them to offer their customers lower prices. “Economic value is simply the difference between the perceived benefits gained by a customers that purchases a firm’s products...
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...1. Business-level Strategy Walmart uses a combination strategy of cost leadership and differentiation. They provide a wider variety of products and services with the same or better quality at a price that is cheaper than their competitors can provide. Walmart concentrates on finding ways to lower their costs by constantly rethinking how to complete their primary and support activities to reduce costs still further while maintaining competitive levels of differentiation. Their successful supply chain management is an important way helping them to implement the cost leadership strategy. They has effective inbound logistics by using just-in-time inventory. And they have cut costs from outbound logistics by creating better fuel efficiency in their trucks, getting more pallets on a load, and decreasing empty miles driven by their trucks (Dess, 2012). Walmart also reduces costs by buying in large blocks. Technology plays a key role in Walmart’s supply chain too, it allows Walmart to accurately forecast demand, track and predict inventory levels, create highly efficient transportation routes, and manage customer relationships and service response logistics (Walmart's Keys to Successful Supply Chain Management, 2013). In conclusion, Walmart's successful overall cost leadership/differentiation strategy leads to high entry barriers for competitors. • Corporate-level Strategy The major reason behind the success of Walmart lies in the fact that the company believes and concentrates...
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...Walton (Chairman) Doug McMillon (President & CEO) | Products | Apparel/footwear specialty, cash & carry/warehouse club, discount store,hypermarket/supercenter/superstore,supermarket, eCommerce | Revenue | * * US$ 476.294 billion (2014) * US$ 468.651 billion (2013) | Operating income | * US$ 26.872 billion (2014) * US$ 27.725 billion (2013) | Net income | * US$ 16.022 billion (2014) * US$ 16.999 billion (2013) | Total assets | * US$ 204.751 billion (2014) * US$ 203.105 billion (2013) | Total equity | * US$ 81.339 billion (2014) * US$ 81.738 billion (2013) | Owner(s) | Walton family | Employees | 2.2 million (2013) | Divisions | Walmart Canada | Subsidiaries | Asda, Sam's Club, Seiyu Group,Walmex, @WalmartLabs, Walmart eCommerce | Website | Corporate.Walmart.com Walmart.com | Executive Summary: Wal-Mart has shown continued success in their use of information technology with e-commerce, a system that allows managers to view point-of-sale information, and the possible use of RFID chips in the near future. After reviewing the 2005 Harvard Business School study of Wal-Mart, it is evident that this company has been successful in expanding its operations in several foreign markets. Wal-Mart had established itself as the largest retailer in both Canada in 2003 and Mexico in 2004. Through acquisitions, partnerships, and go-it-alone strategies, Wal-Mart began the expansion of large-scale operations in other countries...
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...! ! ! ! ! ! ! ! ! ! ! ! !!!!!!!!!!! ! ! Did Wal-Mart Wake Up? How Strategic Management Handled Wal-Mart’s Reputation [ABSTRACT] The nation’s largest private corporation and retail giant Wal-Mart has faced multiple opposition from labor unions, grassroots organizations, religious groups, and even from its own employees, impacting its corporate reputation and ultimately its bottom line. This case study will demonstrate the strategic communication Wal-Mart used for its corporate reputation management (CRM). In particular, the case describes the company’s response to criticism regarding its current business policies and practices. Table of Contents Introduction………………………………………………………………3 1. Company History……………………………………………………..5 1.1 Wal-Mart’s Early History: 1960s to 1970s…………………………….5 1.2 Wal-Mart Expands and Goes International: 1980s to 1990s…………...6 1.3 Attack of the Advocacy Groups: 2000 to present……………………....7 1.4 Repercussions…………………………………………………………...8 2. The Issue: Employee Relations and Workers’ Rights…………………9 3. Opposition…………………………………………………………….10 3.1 Labor Union-Funded Groups…………………………………………...11 3.2 Gender Discrimination………………………………………………….12 3.3 Wal-Mart: The High Cost of Low Price……………………………………..13 4. Wal-Mart’s Response……………………………………………………15 4.1 Response to Labor Union-Backer Groups………………………………...16 4.2 Response to Gender Discrimination Lawsuit……………………………..17 4.3 Response to Greenwald’s Film……………………………………………18 4.4 Wal-Marting Across America:...
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...! ! ! ! ! ! ! ! ! ! ! ! !!!!!!!!!!! ! ! Did Wal-Mart Wake Up? How Strategic Management Handled Wal-Mart’s Reputation [ABSTRACT] The nation’s largest private corporation and retail giant Wal-Mart has faced multiple opposition from labor unions, grassroots organizations, religious groups, and even from its own employees, impacting its corporate reputation and ultimately its bottom line. This case study will demonstrate the strategic communication Wal-Mart used for its corporate reputation management (CRM). In particular, the case describes the company’s response to criticism regarding its current business policies and practices. Table of Contents Introduction………………………………………………………………3 1. Company History……………………………………………………..5 1.1 Wal-Mart’s Early History: 1960s to 1970s…………………………….5 1.2 Wal-Mart Expands and Goes International: 1980s to 1990s…………...6 1.3 Attack of the Advocacy Groups: 2000 to present……………………....7 1.4 Repercussions…………………………………………………………...8 2. The Issue: Employee Relations and Workers’ Rights…………………9 3. Opposition…………………………………………………………….10 3.1 Labor Union-Funded Groups…………………………………………...11 3.2 Gender Discrimination………………………………………………….12 3.3 Wal-Mart: The High Cost of Low Price……………………………………..13 4. Wal-Mart’s Response……………………………………………………15 4.1 Response to Labor Union-Backer Groups………………………………...16 4.2 Response to Gender Discrimination Lawsuit……………………………..17 4.3 Response to Greenwald’s Film……………………………………………18 4.4 Wal-Marting Across America:...
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...! ! ! ! ! ! ! ! ! ! ! ! !!!!!!!!!!! ! ! Did Wal-Mart Wake Up? How Strategic Management Handled Wal-Mart’s Reputation [ABSTRACT] The nation’s largest private corporation and retail giant Wal-Mart has faced multiple opposition from labor unions, grassroots organizations, religious groups, and even from its own employees, impacting its corporate reputation and ultimately its bottom line. This case study will demonstrate the strategic communication Wal-Mart used for its corporate reputation management (CRM). In particular, the case describes the company’s response to criticism regarding its current business policies and practices. Table of Contents Introduction………………………………………………………………3 1. Company History……………………………………………………..5 1.1 Wal-Mart’s Early History: 1960s to 1970s…………………………….5 1.2 Wal-Mart Expands and Goes International: 1980s to 1990s…………...6 1.3 Attack of the Advocacy Groups: 2000 to present……………………....7 1.4 Repercussions…………………………………………………………...8 2. The Issue: Employee Relations and Workers’ Rights…………………9 3. Opposition…………………………………………………………….10 3.1 Labor Union-Funded Groups…………………………………………...11 3.2 Gender Discrimination………………………………………………….12 3.3 Wal-Mart: The High Cost of Low Price……………………………………..13 4. Wal-Mart’s Response……………………………………………………15 4.1 Response to Labor Union-Backer Groups………………………………...16 4.2 Response to Gender Discrimination Lawsuit……………………………..17 4.3 Response to Greenwald’s Film……………………………………………18 4.4 Wal-Marting Across America:...
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...Wal-Mart Inc. Ethical Treatment of Employees Prepared for Wal-Mart Corporation Prepared by Alexander W. Nash April 26, 2011 Table of Contents EXECUTIVE SUMMARYiii INTRODUCTION1 ANALYSIS OF WAL-MART’S ETHICAL TREATMENT OF EMPLOYEES 2 THE COMPANY: WAL-MART INC.2 THE PRACTICE: ETHICAL TREATMENT OF EMPLOYEES 2 WAL-MART’S ETHCIAL TREATMENT OF EMPLOYEES3 RECOMENDATIONS5 EVEN PAY SCALE 5 MORE ACCOUNTABILITY5 CHINA’S LABOR LAWS AND CONDITIONS 6 CONCLUSION6 Executive Summary Wal-Mart is one of the biggest empires in the world. It dominates many markets by providing many different products for the lowest prices guaranteed. You can’t go anywhere without seeing a Wal-Mart, which has more revenue than the entire workforce of Utah. It has revolutionized the world or commerce, through implementing state of the art inventory tracking systems and mastering logistics. Many argue that it has become so successful and powerful from being unethical with its employees. Wal-Mart is currently involved in the largest job discrimination class action lawsuit in U.S. history affecting about 1.5 million women. Wal-Mart also has lawsuits concerning wage and hour violations, executives also admitted to being told by superiors to not pay overtime. It continues to have problems with its labor force in china, forcing them to work seven days a week and paying them less than China’s minimum wage, and having employees work with dangerous chemicals without the “right to know”, as its...
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...military service, Sam Walton opened a five-and dime store in 1945 in Bentonville, Arkansas (Wal-Mart, 2016). Sam was successful and inspired in his first venture and was driven to focus on consumers and providing value, Sam opened his first Wal-Mart store in 1962 in Rogers, Arkansas. By 1967, 24 Wal-Mart stores had opened. Sam’s vision was to “save people money so they could live better”, his core value was that of respect, for customers, employees and suppliers (Ghazzawi, Palladini & Martinelli-Lee, 2014) and this continues to be the mission and values of Walmart today. Since the opening of the first store in 1962, Wal-Mart has grown to 11,500 stores, operating in all fifty states, as well as 28 countries, under 72 banners and e-commerce, and employees 2.2 million people and weekly services 260 million customers and members. The Wal-Mart, Incorporated consists of four operating divisions Wal-Mart U.S., Walmart International. Sam’s Club and Global e-Commerce (Wal-Mart, 2016). Analysis of Management Functions: Planning. Based on what you have learned through your research, how would you characterize conditions in the planning environment? What types of problems does the organization face (e.g., structured, unstructured), and to what extent should the organizations decisions be programmed or nonprogrammed? How would you characterize the level certainty, uncertainty, and risk the organization faces? Organizing. How is the organization organized? Would you characterize...
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...Community Profile Learning Team ETH/316: Ethics and Social Responsibility Community Profile Social responsibility is the belief of people developing the responsibility toward the greater welfare of society. Each individual has his or her beliefs that determine what it means to be socially responsible. Each individual team member has selected a community in which he or she is familiar with for the use of defining social responsibility in each community. These communities include Champaign, Truth or Consequences, Mountain View Crossing, Lyons, and Lubbock. By reviewing the profiles of each community, the team can determine both their differences and similarities as well as selecting the community that has the most effective social responsibility. Differences and Similarities Because every community is different, each has a distinct quality that defines its character. One difference between the communities presented by this team is through their financial incomes that range anywhere from average to high. Age also can be seen as a difference between these communities as these ages range between the mid-twenties to mid-forties. Champaign is a town in Illinois home to the University of Illinois. The university houses half of the countries Internet service. Lubbock is a town in Texas that serves as the home for innovation and renewable energy sources. Although differences are apparent within communities, similarities are present as well. Truth or Consequences and Mountain...
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...1.0 Introduction Wal-Mart Stores, Inc. began in the year of 1962 and its founder is Sam Walton. Till now, Wal-Mart is so successful because its founder, Walton emphasized on the customer satisfaction and hard work. This creates a value on Wal-Mart. It is indeed popular in American business of its low prices and it is one of the world’s largest public corporations. Hence, it has to be more careful while handling the relationships between different stakeholders. Wal-Mart is reported to be able saving the average family of $3200 annually. However, the company has received many critics on the issues of its treatment towards its employees, suppliers and economic impacts on communities. Many stand out to say that Wal-Mart is engaged in immoral issues in order to provide low prices. This case attempts to show us about the controversy of both the positive and negative impacts on the society due to Wal-Mart’s low pricing. It involves various stakeholders here in the case, such as competitors, suppliers, and employees. In addition, some ethical issues such as the discrimination, illegal immigration issues, and leadership misconduct are brought out to discuss. 2.0 Wal-Mart’s Stakeholders relationship 2.1 Competitors Stakeholders Problem: Wal-Mart used predatory pricing which causes other companies out of business. This is because they work on volume. They can give greater discount than any other competitors can afford and yet still make a profit. There is lawsuit in Germany in...
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...Isela Mercado California State University, Los Angeles September 11, 2008 Wal-Mart, founded in 1962 in Rogers, Arkansas, was the largest retail chain in the world. Its growth was derived from a wide range of competitive advantages, such as Wal-Mart’s sophisticated use of information technology to keep track of and reorder items, the use of “Just-in-Time” shipments of merchandise from distribution centers that eliminated the need for costly in-store inventory storage2, and the sheer economies of scale it achieved compared to its rivals. Wal-Mart also exploited “economies of density” to make the most of its centralized distribution hubs.3 These advantages, combined with its “Every Day Low Price” strategy, enabled Wal-Mart to serve its target market, of which the residents of Rosemead, California were typical. In 2003, Wal-Mart’s attempt to establish a Supercenter 12 miles from downtown Los Angeles in the city of Inglewood, California was stopped by a community grassroots effort to keep the retailer out. Wal-Mart then diverted its expansion plan to the nearby city of Rosemead, where a new Supercenter would benefit from two Wal-Mart distribution centers within a cluster of ten neighboring Wal-Mart stores. In September 2004, the Rosemead City Council voted in favor of Wal-Mart’s plans to open its first Supercenter in Los Angeles country, alienating many residents who felt their voices had not been heard. During the development of the Rosemead Supercenter, Wal-Mart faced challenges...
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...Marketing book notes Chapter 1: * Marketing is managing profitable customer relationships. The aim of marketing is to create value for customers and capture value from customers in return * Marketing is managing profitable customer relationships. The twofold goal of marketing is to attract new customers by promising superior value and to keep the grow current customers by delivering satisfaction * Marketing must be understood not in the old sense of making a sale- “telling and selling” – but in the new sense of satisfying customer needs. If the marketer understands customer needs; develops products that provide superior customer value; and prices distributes, and promotes them effectively , those products will sell easily * Selling and advertising are only part of a larger marketing mix – a set of marketing tools that work together to satisfy customer needs and build customer relationships * Marketing- the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return Understanding the marketplace and customer needs: * 1) needs, wants, and demands * 2) market offering (products, services, and expectations) * 3) value and satisfaction * 4) exchanges and relationships * 5) markets Customer needs, wants, and demands * The most basic concept underlying marketing is that of human needs. Human needs are states of felt deprivation. They include physical...
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