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Local manufacturers are one of the groups that stand to benefit from Wal-Mart’s decision to source goods in the United States. 1881 Mills is one such manufacturer that will benefit from the extended contract that it has struck with Wal-Mart. Suppliers dealing in highly-automated production are the other group that will benefit from Wal-Mart’s move. The public stands to benefit from the additional jobs that will be created by these local manufacturers and suppliers in order to meet Wal-Mart’s increased demand. The economy of the United States will benefit from the improved production that this move will bring (ABC News p3).
Wal-Mart has an obligation to provide workers in China and other foreign markets who will be displayed by Wal-Mart’s new strategy with time to adjust and find other jobs. Corporate social responsibility would require that as an employer, Wal-Mart should factor in the welfare of the people who will be affected by any of its policy decisions and one such group of people are these workers. Wal-Mart should care not to terminate its foreign sourcing quickly because this would leave many of these foreign workers jobless. This can have devastating effects on the lives of these workers and, by extension, the economies of their countries (ABC News p3).
Wal-Mart’s decision to source more goods locally means it might have to charge more for such products and this will have direct impacts on local consumers. This will dig deeper into my consumer surplus and I might have to consider buying certain goods from other stores. I however have an ethical responsibility to buy U.S.-made products even if they cost more because this will contribute to the growth of the economy of my home country. Ethical responsibility requires that as a consumer, I should go beyond caring for my personal financial wellbeing to considering how my buying patterns influences other people
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Governmental institutions are limiting the permits Wal-Mart gets to open stores in certain regions. A way for Wal-Mart to eliminate this barrier of entry is by utilizing e-commerce. Wal-Mart utilizes e-commerce to attract customers worldwide. The firm has a very attractive websites that has a vast variety of items available for sale at reasonable prices.
Evaluation Essay on Wal-Mart Introduction: The Wal-Mart has shown the art of retailing. The global retail giant came up with the concept of selling mass products in a discounted rate to the customers. The main concept was to sell in high volume with low price so the volume of the profit goes high.
Wal-mart announced in June 2003 that by 1st January 2005 it would implement RFID technology in its supply chain. The initial plan was to have 100 suppliers comply with the change but 129 suppliers responded as none wanted to be left behind. Wal-mart had made it very clear what the EPC (electronic product code) would be, the class of chips they would expect and it also named the distribution centers that would start accepting the RFID deliveries.
Besides, uncovering the reasons behind the popularity and prominence of Wal-Mart as a customer-oriented super-shop has also taken a significant place in the present study. The study also attempts to erect an entire organogram of Wal-Mart concerning its transaction process dealt between the Stakeholders in the Wal-Mart business Shareholders, Suppliers, Distributors, Dealers, transportation, Bankers, Advertising/Marketing/Market research agencies and impact upon them arising out of its business.
Wal-Mart started its international operation by entering the emerging markets. Its approach to emerging markets illustrates a link between globalization of markets and competitive strategy. Strategic management helps to understand and define the goals, vision, mission, objectives, roles, and responsibilities of the organization.
Investors consider Wal-Mart’s common shares a blue chip stock. Blue chips stocks are defined as stocks issued by a well-know company with an established record for making money and paying dividends (Teweles & Bradley & Teweles).
The fact that Wal-Mart today is the biggest retailer speaks of the success of its pricing strategy. “Wal-Mart is not just the worlds largest retailer. Its the worlds largest company--bigger than ExxonMobil, General Motors, and General Electric” (Fishman, 2003). Wal-Mart
Walmart’s mode of entry to foreign market is debatable. For some countries they use merger & acquisition and for other countries, they use joint venture as the market entry strategy. It is easy for walmart to monopolize