Walmart Company

Name
Instructor
Course
Date
Walmart Company
Sam Walton, the founder of Walmart, opened the company’s first store in Rodgers, Arkansas the year 1962 (Wal-Mart 3). Mr. Sam saw his company grow rapidly and in 1970 it became a publicly traded company (Wal-Mart 4). Even after Sam’s death in 1992, the company went on to expand its services and is now a global entity with over eleven thousand stores opened worldwide. Electronics, furniture, clothing, and groceries are among the goods retailed by the company’s stores. Walmart’s, Headquarters are in Bentonville, Arkansas. Doug McMillon is the current President and CEO of the company, while Greg Penner is the holder of the Chairman’s seat (Wal-Mart 31).
Currently, Walmart faces competition from companies like Soriana, Real Canadian Superstore, and Kmart, all based in North America. In the 2017 Forbes’ rankings of the world’s largest public companies, Walmart took the 17th position (Spicer et al. 118). However, it was ranked 1st among other global retailers. CVS and Amazon took the third and fourth positions respectively. The company uses what is called the differentiation strategy (Spicer et al. 116), this makes it different from its competitors. Differentiation strategy is a tactic that makes customers believe that they are receiving a product or service different from what other companies are offering. ‘ Save Money, Live Better,’ is the slogan that has seen Walmart attract many customers because of the low-cost products (Wal-Mart 1).

Walmart has an employee assistance program where managers are allowed to call in for assistance whenever needed. There is also management supported program to help employees with financial difficulties.
Despite its success, Walmart failed to put a mark in Germany. Cultural differences between US and Germany played a part in its failure. Some American practices among the employees could not fit in the German context. For instance, during morning workout sessions, the employees were asked to chant the name of the company (Spicer et al. 127). In America, this might boost the morale and enhance loyalty, but in Germany, it meant otherwise. Some ethical issues like spying on a fellow worker also proved to be costly. Some of the native traditions of a company may not work in a foreign land, something that organizations need to keep in mind as they expand their scope.

Works Cited
“Wal-Mart Stores Inc.” Wal-Mart Stores, Inc. Marketline Company Profile, 23 Nov. 2017, pp. 1-32.
Spicer, Andrew and David Hyatt. “Walmart’s Emergent Low-Cost Sustainable Product Strategy.” California Management Review, vol. 59, no. 2, Winter2017, pp. 116-141