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Impact of Walmart mission on Overall Success - Essay Example

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The paper “Impact of Walmart mission on Overall Success” examines the mission and vision statement of Walmart, which indicates that the company aims to become a renowned retail company across the globe. Sam Walton had a vision of making his company the only choice for the consumer market…
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Impact of Walmart mission on Overall Success
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Download file to see previous pages This vision and mission have been the reason for the company’s overall success. Walmart on basis of these values has developed strategies to offer a wide range of products at lowest prices in the market. Its primary stakeholders also play a major role in the success of the company. For instance, healthy relationship with suppliers enables the company to make bulk purchases at competitive prices and then pass on its savings to the customer base (Johnson & Scholes, 2003, pp. 67-68). Employees as stakeholders have a positive impact on the success in terms of their increased efficiency and dedication. On the other hand, customers being another primary stakeholder helped the retail chain to enhance their growth through a high level of loyalty and satisfaction.
The force exerted by potential competitors is moderate in case of Walmart. Grocers are the ones who can easily into this retail segment posing a tough competition for the company. It can be stated that entry barriers are relatively high as the organization has established a strong brand name, comprise of the exceptional distribution network, encompass wide geographical area and has a strong financial arm to fight against all potential competitors. The rivalry amongst players is moderate and the major players apart from Walmart are Target, K-Mart, and Sears. However, Target is the retail chain which has achieved tremendous growth in its domestic markets. The bargaining power of buyers is relatively low as customers are offered convenience as well as best prices by the company. There is low to medium pressure in the context of bargaining power of suppliers. This is because Walmart is a big retail chain and it provides a lot of business to its wholesalers and manufacturers. The company possesses a large base of suppliers and low switching costs. In relation to retail industry, the threat of substitute products is low.  ...Download file to see next pagesRead More
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