The secret of Wal-Marts success

Wal-Mart, the world's largest retailer, has entered Europe and the UK is second only to Germany. Tim Weber of BBC News Online sees the secret of its success. Wal-Mart runs 3,601 stores, with more than 910,000 people worldwide, last year's sales reached $ 137.6 billion (£ 87.5 billion), equivalent to a tenth of UK's total sales To do. Economic output Patrick O'Connell: The world's largest retailers are beginning to open stores in Arkansas. The company provides services to approximately 90 million customers per week and has branches in the US, Puerto Rico, Canada, China, Mexico, Brazil, Germany and Argentina.

The main purpose of this white paper is to evaluate the success of Wal-Mart and the reason why Wal-Mart was even more successful in the world economy. The following articles reflect Wal-Mart's global pursuit and entry into the international market, its global market access strategy, environmental factors, particularly cultural factors, positioning and growth efforts. The strategy has been rigorously evaluated with the help of various strategic theories and is recommending to Wal-Mart's present and future foreign companies. 2006). These are the foundation for analyzing Wal-Mart and its strategy.

Wal-Mart Stores opened the first discount store in 1962, and Sam Walton did not know his business will succeed today. The reason why Wal-Mart succeeded is that they can create a basic structure for business. Wal-Mart offers a number of famous brands that are sold by 5-10% less than other retailers. This makes Wal-Mart a powerful force in the retail industry. Wal-mart stores are considered to be an oligopolistic market structure. Colander (2008) defines an oligopoly as a market condition with fewer sellers, the behavior of either party has a significant impact on prices and measurable impact on competitors. With continued success, Wal-Mart's market structure can also be viewed as an exclusive competitive structure. Wal-Mart has all the features of the monopolistic competitive structure described by Colander (2008), has many sellers offering differentiated products, they show multiple levels of competition.

In 1962, Sam Walton opened its first Wal - Mart store in Rogers, Arkansas. Wal-Mart was once included in the list of Fortune magazine's Top 10 Most Respectful Companies. Wal - Mart 's philosophy - Wal - Mart' s success not only made strategic management decisions correctly, but also because of the innovative implementation of these strategic decisions, Walton has become an important part of customers, It is known for taking care. Walton complies with the three guiding principles: customer value and service, collaboration with colleagues, and community involvement (shop war). The word "forever" is found in almost all Wal-Mart advertisements. Mr. Walton considers the customer to be always right and his shop is still promoted by this philosophy.