University of Phoenix
Management Theory, Practice, and Application
May 17, 2010
How a corporation organizes itself may be the most essential part in determining if their strategy will be successful (Bateman & Snell, 2009). Through organizing Wall-Mart top-level managers develop the plan laying out tasks and resources that are needed to accomplish the goal. By recognizes the value of their physical assets, monetary, human resources, and technology has made them the world largest retail store. Through organization function of management Wall-Mart combined their resources to maximize the organization full potential expanding beyond ...view middle of the document...
d.). Wall-Mart keeps ahead of their competitors by ensuring their products are sold at lower prices and cost a fraction less than their competition. Wall-Mart environment seems rather demanding and complicated at times. However, Wal-Mart stays true to its principles of saving people money, which keeps their sales above any other retailer in the market. Even, with their lower prices they can put out of business various small business owners. Additionally, by becoming their own main supplier ensure them the ability to stay in business. Showing that they keep progressing and are successful in what they do. Therefore, how Wal-Mart manages their financial is essential for the success of the corporation.
The human resource management activities include recruitment, selection and job counseling, training and development, performance and appraisals, reward system and the rational of external and internal customers (Bateman & Snell, 2009). Wall-Mart Human Resources Department has the responsibility to do an environment scanning to observe for existing needs of the organization by checking wages and pay and benefits exist to assist the organization.
Wall-Mart uses pay and benefits to guarantee that the human capital is used in a way that employees can achieve their greatest potential. Wall-Mart does this by providing supervisors with a variety of training in different areas ensuring they can deal with a good number of difficult situations. Furthermore, Wal-Mart has a leadership and mentoring program that encourages women to become leaders in the organization as part of their reward system.
Wall-Mart has a philosophy that every employee will be treated with respect and dignity, and Wal-Mart expects every employee to do the same with the customers. The best part is most of their locations are open 24 hours a day providing human resources assistance to customers (Retail Merchandiser, 2005).
To succeed in today’s competitive market it is essential for any organization to invest in technology. In 2005, Wal-Mart invest in some new technology Radio Frequency Identification system (RFID) that will track the delivery of suppliers from the distribution centers to stores. The RFID system was put into place to reduce the out-of-stocks as well as reducing excess inventory giving stores a tracking system to know when their products would arrive at their location (Vijayan & Brewin, 2003). Another way Wal-Mart uses technology is by monitoring employee’s timecards ensuring time management of employees every minute they work and that the employees take their breaks onetime. In 2001, Wal-Mart decided to change the mainframes and databases in their stores with new technology from IBM. With the use of technology Wal-Mart has stayed ahead of their competition by meeting the continually changing requirements of...