Walmart's Comprehensive Management Plan Walmart Is a Essay
- Length: 14 pages
- Sources: 4
- Subject: Business
- Type: Essay
- Paper: #72057265
Excerpt from Essay :
Walmart's Comprehensive Management Plan:
Walmart is a public multinational corporation based in America that deals with chains of large discount department and warehouse stores. Based on the ratings by Forbes Global 2000 list, Walmart is considered as the 18th largest public corporation across the globe and the largest when rated by revenue. In addition to being the largest company in the world, Walmart is the biggest private employer across the globe with a workforce of more than 2 million employees. The company is headquartered in Bentonville, Arkansas and is also ranked as America's largest grocery retailer firm. Its rank as America's largest grocery retailer emanates from huge sales in the U.S. grocery business that amount to billions of dollars. The company's success can also be attributed to its expansion and growth strategy that has made it to have over 8,500 stores in 15 countries. While it functions under its own name in America, it operates stores under different names in its global operations.
Company History, Information and Growth:
The history of this multinational corporation can be traced back to 1962 when it was founded by Sam Walton. Walton began this company following his refusal to renew the lease of an existing store because of lack of an agreement with his previous business partners. During its inception years, Walmart generated huge sales than most of its competitors because of its slight mark up. Walmart's shares started trading on OTC markets in 1970 and were listed in the New York Stock Exchange in 1972 ("About Us," n.d.).
These huge sales resulted in the company's rapid expansion to about 24 stores across Arkansas within 5 years of its launch reaching sales worth $12.6 million. By the end of that decade, Walmart had grown and expanded to 276 stores in 11 states in the United States. This was later followed by the launch of the first Sam's Club membership warehouse in 1983 and the first supercenter that included a full grocery and general merchandise five years later. Following its opening of the first Sam's Club near Mexico City in 1991, the corporation became an international company.
The company has now grown to become a household name across the globe from its modest beginnings in Arkansas. At the heart of the corporation's growth is a unique corporate strategy and culture that was developed and established by Walmart's founder. The unique corporate strategy and company culture was based on a simple business philosophy of making the customer the first priority. Walton believed that through serving the customer's needs first, the company would also serve its shareholders, business associates, other stakeholders, and communities. Throughout its history, Walmart has developed into a universal brand known for highly efficient systems, unrivaled retailer with a commitment to serve customers' needs first, excellent supplier relationships, and unwavering commitment to low prices.
The other significant growth of this company is the development of an online shopping website that provides over 1,000,000 products. Walmart continues to develop innovative businesses like music downloads and photos that enable customers to order products online and collect them at a local Walmart store. The company's online shopping strategy combines technology and world-class retailing that provide customers with an extensive collection of their favorite products. The strategy also ensures that customers have friendly service, an excellent online shopping experience, convenient hours, and guaranteed satisfaction.
The company has grown to currently serve its members and customers more than 200 million times weekly in over 9,700 retail units with 60 different banners in 28 countries. The growth and rapid expansion has resulted in huge sales for the company, which were $405 billion in fiscal year 2010. According to the 2010 Most Admired Companies survey by Fortune Magazine, Walmart was rated among the top ten retailers because it's a leader in sustainability, employment opportunity and corporate philanthropy. The company's purpose of saving people money to help them improve their lifestyles has remained constant to the way its founder envisioned when the first store was opened over 40 years ago. This mission is more significant as the company strives to deliver on its promise to its members and customers worldwide. To continue making a difference in the lives of its members, associates, and customers, the company has continued operating with a similar level of respect and integrity that its founder established.
Walmart's Career Opportunities:
Walmart has developed into what it is today because of the impact of its associates in making it an international retail leader through dedication, ideas, and innovation that has enabled the company to continuing growing. To reward this impact, the company works to support its associates in career development initiatives and building better lives. Walmart careers provide opportunities for people to grow in ways never imagined or envisioned before while gaining experience at one of the largest companies in the world. Consequently, the range of career opportunities in the company is limitless and provides a chance for an individual to help fulfill an exceptional and meaningful mission in life.
According to the information available on the company's website, there are various career opportunities in several departments that are geared towards enabling applicants to take their careers in new directions. Some of the available opportunities are in corporate, store, logistics, driving, pharmacy, Sam's Club, college and recent graduates, military, optometry, and international careers. The departments at the home office with career advancement opportunities include aviation and travel, corporate affairs, business sustainability, finance, global security, information systems, marketing, store operations. The other available career opportunities are in departments like Walmart.com, replenishment, human resources, merchandising, internal audit services, and benefits and claims management.
The Aviation and Travel division helps in protecting the company's assets and transporting its associates efficiently and safely. While the Benefits and Claims Management division assists injured associates, customers, and store management in cases of disasters and accidents, Business Sustainability helps in influencing the environment through better practices. Corporate Affairs department provides Walmart's associates with necessary knowledge on how to conduct their jobs effectively and be active partners in developing the company's business.
Its global security division takes a detailed approach in protecting Walmart's assets while the Internal Audit department ensures that all areas of the company function in cost-effective ways.
The merchandising division ensures that the customers' expectations of value for money are met and the Information Systems department combines business strategies with technological advancements. Walmart.com provides convenient online shopping at the lowest possible prices to customers while Real Estate and Store Planning division ensures that the firm is at the fore-front of being a good neighbor to communities ("Departments," n.d.).
With this wide range of career opportunities in Walmart, managing the company's store is a position that needs tremendous leadership skills. The company is always looking for strong leaders to take these management roles and employees to enable it accomplish its mission while generating huge sales to maintain its market position. Consequently, Walmart works very hard to provide training and development opportunities to assist its employees to maximize their potential in their respective jobs. The company also provides the training and development opportunities to all its associates to help them ascend to the management positions within the company.
The human resource department plays a significant role in Walmart Company since it's the department that helps the firm to achieve its goal by dealing with people. The department deals with issues like recruiting and hiring employees, training and career development of workers, compensation, and diversity and labor relations. As part of its mandate to ensure that the firm's employees work effectively and contribute to the productivity of the company, the human resource department is committed to recruiting and hiring people who can add value. Recruitment can be defined as the process of seeking for and attracting qualified applicants to fill vacant positions in an organization or company. As the Executive Human Resource Manager, I will recruit potential employees who can think creatively and provide solutions to complex situations.
The recruitment process will be conducted either through internal recruitment or external recruitment. The internal recruitment basically applies to individuals who are currently working in the company by providing them with an opportunity to apply for a certain vacant position first. Internal recruitment may result in change of the employee profile and is a cost-effective and timely process for the company. On the other hand, external recruitment applies to external candidates who apply for an available vacant job position in the company. While external recruitment is more costly than internal recruitment, it provides the company with an opportunity to add new ideas and experience to its business because it draws upon a wide range of talent.
Generally, the recruitment process at Walmart will involve the following major steps of identifying suitable applicants. In addition to serving as recruitment elements, these major steps will also provide useful information to Walmart while acting as the foundation for the company's selection process. These recruitment stages are & #8230;
Conducting Job Analysis:
This is the process of examining the available career…