Custom «Decision Making» Essay Paper Sample
According to Rugman (2004), Wal-Mart was founded by Sam Walton in 1962 and has emerged to be one of the most popular American Public Corporation but recently, its name was changed to Walmart. Wal-Mart runs a number of large discount department stores as well as a series of warehouse stores within the United States and other countries where it has extended its business operations. Through its discount stores, Wal-Mart offer products such as household products, a variety of electronic gadgets and equipment, clothing among other while its superstores supermarket sale groceries to its customers (Stickney et al, 2009). In a nutshell, Wal-Mart has emerged to be one of the largest public corporations in the United States in terms of revenue generation (Woods, 2008).
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With James, a friend of mine working for Wal-Mart, it is easy for me to understand the operations of the corporation and its secrets that give it success in the business arena. Despite the success of this corporation, the products sold are not different from those of its competitors. Nevertheless, there exist trade barriers such as market penetration and size of distribution network. James affirms that Wal-Mart has a number of stores that are run in different location but all coming under one administrative control. Additionally, James adds that Wal-Mart has invested in technology that enables the sharing of both stocks and customers data between the stores thus promoting management functions as well as enhancing decision making process.
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James understands that Wal-Mart success is pegged on a number of novel strategies employed by the company in order to edge out competition. Wal-Mart strives to offer low prices for their goods as well as operating in four distinct discount stores (Stickney et al, 2009). Wal-Mart Neighborhood markets operates close to residential areas for easier access by customers. With increased growth in retail market, Wal-Mart's venture into the global expansion has paid off with growth and sustainability and indeed, it has become an American icon (Wood, 2008).