Sunday, February 23, 2020
Business report Essay Example | Topics and Well Written Essays - 2500 words - 1
Business report - Essay Example Walmartââ¬â¢s leadership is often attracts criticisms for visionless business strategies. Debate about the replacing of present CEO is going on. Walmartââ¬â¢s failure to incorporate technology properly with the supply chain operations is bringing lot of criticisms. In any case, business practices in Wal-Mart are undergoing microscopic examination at present. In short, Walmartââ¬â¢s business practices need lot of modifications. This business report critically analyses Wal-Martââ¬â¢s business practices and provides recommendations to improve it. Founded in 1962 by Sam Walton, American based Wal-Mart is the largest retailer in the world at present. Retail revolutions were taking place in America in the 60ââ¬â¢s and 70ââ¬â¢s and Sam Walton exploited the opportunities very well with the help of innovative business strategies. ââ¬Å"Sam Waltons strategy was built on an unshakeable foundation: The Lowest Prices Anytime, Anywhere. As of 2012, the company employs 2.2 million associates worldwide and serves 200 million customers each week at more than 10,000 stores in 27 countriesâ⬠(Wal-Mart: History timeline, 2012). Despite of unfavorable market conditions, Wal-Mart was able to maintain its growth in recent years also. ââ¬Å"Net sales increased by 5.9 percent to $443.9 billion, and consolidated operating income grew by 4 percent to $26.6 billion in 2012â⬠(50 years of helping customers save money and live better, 2012, p.3). (See appendix 1 for more details about Wal-Martââ¬â¢s performance in last 50 years). It should be noted that global markets are currently going through a bad patch because of the ongoing recession problems. Yet, Wal-Mart seems to be less affected by these problems. Even though, Wal-Martââ¬â¢s published financial results in recent times are extremely good, many people believe that the company is facing too many strategic problems at present. It is believed that
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