Management: Theory, Practice And Applications Essay

1227 words - 5 pages

Organizing function of Management
MGT 330: Management: Theory, Practice and Application
University of Phoenix
Professor Marie Powell
Stephanie Wooten
April 26, 2010

Wal-Mart
Wal-Mart

Sam Walton was one of the famous American business leaders. Sam Walton was the founder of the Wal-Mart and Sam’s Club, which are the two American retailers. Sam Walton is one of the richest families in the world. He was born March 29, 1918 in Kingfisher, Oklahoma. His parents are Thomas and Nancy Walton. He grew up on a farm until the year of 1923 when his family moved to Missouri. After he graduate from high school he went to University of Missouri. He studied economics at the ...view middle of the document...

Walton and his brother Bud had operated and owned 16 variety stores in Arkansas, Kansas, and Missouri (Sam Walton’s Biography). In 1962, he opens the first Wal-Mart store in Rogers, Arkansas. When Sam Walton opens Wal-Mart in Rogers, Arkansas became the world’s largest retail store chain. Wal-Mart stores are in America, Mexico, Canada, Argentina, Brazil, South Korea, China, Germany, Puerto Rico, and the United Kingdom (Sam Walton’s Biography). Sam Walton had died in 1992 and left his empire to his wife and children (Sam Walton’s Biography). The Walton family is half of the ten richest families in the United States as of 2005 (Sam Walton’s Biography). If Sam Walton were still alive today he would be the world’s wealthiest man.
The organizational resources are the monetary, human resources, physical assets, knowledge, and technology. Monetary relates to the value of money. Human Resources management is the function within an organization that focuses on recruitment of, management of, and providing the direction for the people working for an organization. A physical asset is an item of economic, commercial or exchange value that has a tangible or material existence. Knowledge management is supporting creation, capture, storage, and dissemination of information. The knowledge management system is to enable the employees to have ready access to the organization’s documented base of facts, sources of information, and solutions. Technology is a human innovation in action that involves the generation of knowledge and processes to develop systems that solve problems and extend human capabilities.

Wal-Mart has a gift and gratuity policy for all vendors, suppliers and customers. The gift and gratuity policy is where no gifts or gratuities, which have monetary value, be given any way to any Wal-Mart or Sam’s Club Associate or potential Wal-Mart or Sam’s Club Associate (Wal-Mart Corporation). A supplier can donate gifts for the purpose of raising funds for a charity or a non-profit organization or to be resale at the Wal-Mart Associate store (Wal-Mart Corporation). A gift or gratuities would include free gifts, tickets to a sporting or a concert event, kickbacks in the form of merchandise or money, a special discount for any Wal-Mart or Sam’s Club employee, samples of their products, liquor, food products, meals or personal services (Wal-Mart Corporation). When a Wal-Mart or Sam’s Club associate receives any of these gifts or gratuities must be returned to the sender and to explain the Wal-Mart policy to them. When an item is not returned to...

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