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Walmart Strategic Plan

In: Business and Management

Submitted By sandy1923
Words 2006
Pages 9
09-16-10
Wal-Mart
KGA: Strategic Action Plan

Wal-Mart
“Always low prices”, is the first thing you think of when you think about one of the most successful companies around the world, Wal-Mart. For years they stand as a well know company due to their everyday low prices and variety of products. Their mission statement is “Saving people money so that they can live better”. They have chosen their mission statement wisely yet there is a lot of controversy when it comes to this International Company.
Wal-Mart was started in Rogers, Arkansas during the early 1960’s by Sam Walton. (Ghillyer, 2010). Walton traveled all around the country researching what consumers wanted in a retail store. When Sam Walton fist opened Wal-Mart he “built it under the foundation of honesty, respect, fairness and integrity” (Ghillyer, 2010). Wal-Mart’s sales have made them a billion dollar revenue in the previous years. Walton tried to create a culture that shared the same beliefs as he did. Out of his beliefs he chose the three strongest that well suited his store: Respect for individuals, service to customers, and striving for excellence. Wal-Mart’s success promotes many benefits. Stockholders, customers, employees and communities benefit from the company’s success.
In 1972, after 15 stores, Wal-Mart suffered with a lot of competition. Wal-Mart stock was offered for the first time in the New York Stock exchange. Being a public company helped Wal-Mart expand rapidly. It grew from 15 stores to 276 stores in 11 states by the end of the decade. In 1988 Wal-Mart opened the first super Center. This featured a complete grocery, and 36 departments of general merchandise. At the end of the 80’s Wal-Mart went from a billion dollars in sales to $ 26 billion.
There are currently 8,576 Wal-Mart stores and club locations in 15 countries. It employees more than 2.1 million

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