Walmart :: essays research papers

OverviewWhen Sam Walton founded the first Wal-Mart in 1962, the idea of bringing in a discount-shopping store into rural America was almost unheard of, except for the topical anesthetic five and dime stores. When Walton noticed that he had a lot of challenger from regional discount chains, him and his wife Helen traveled the country to study some other new retailing concepts, and were convinced that it was the wave of the future. With Waltons vision, Wal-Mart grew to be a multi-billion dollar, global companion, operating about 4,600 stores around the world.Wal-Mart competes in many industries that include 5331- Retail-Variety stores, 5411-Grocery stores, 5311-Department stores, 5812-Eating Places, 5399-Miscellaneous universal Merchandise store, and 5912-Drug stores and Proprietary stores. Since there atomic number 18 several industries to choose from, our conference chose to go with retail-variety stores, SIC code 5331. These establishments are primarily engaged in the reta il sale of a variety of merchandise in the paltry and popular price ranges. Sales are made on a cash and carry basis, with the open-selling method of display and customer selection of merchandise.Wal-Marts milestones began in 1962 when the first Wal-Mart was receptive in Rogers, Arkansas. Seven years later the company incorporated as Wal-Mart encloses, Inc. Then a year later they opened the first distribution center and home office in Bentonville, Arkansas, and excessively went public on the New York Stock Exchange. Several years later, in 1988, the first super center was opened. Then in 1991, the first international unit was opened in Mexico City.By the turn of the century, Discount Store News had named Wal-Mart "Retailer of the Century" and made Fortune magazines lists of the "Most prize Companies in America" and the "100 Best Companies to Work For." They were also rank on Financial Times "Most Respected in the World" list. In 2002, Wal-Mart b ecame number one on the Fortune 500 list and was presented with the Ron chocolate-brown Award for Corporate Leadership, a presidential award that recognizes companies for outstanding skill in employee and community relations.Mission StatementWal-Mart Stores, Inc. does not have a formal mission didactics. This is because Kim Ellis, the Public Relations Coordinator, said that they believe the customers are more interested in other aspects of the business, and they, the company, are focused on meeting their basic consumer needs.Since Wal-Mart does not have a mission statement our group has created a mission statement that they might use. It discusses all nightspot components of a mission statement.