Wendy L. Coghill
University of Phoenix
June 2, 2013
Instructor Stewart Edinger
In an article found on a website called regaindemocracy.org, A Brief History of Wal-Mart by author T.A. Franks, it says “In the late 1940s, when Sam Walton was franchising a Ben Franklin’s variety store in Newport, Ark., he had a simple but momentous idea. Like any retailer, Walton was always looking for deals from suppliers. Typically, though, a retailer who managed to get a bargain from a wholesaler would leave his store prices unchanged and pocket the extra money. Walton, by contrast, realized he could do better by passing on the savings to his customers and ...view middle of the document...
This is the reason for much power on other businesses and inflation also. With this said, its main competitors in the market are these businesses inside that consist of Costco Wholesale, and Target. As these retailers have moved most of their attention on selling to the customer goods at higher prices, Wal-Mart is capable of remaining profitable and cost-effective as it has the capability to sell more units, surpassing these other retailers.
Wal-Mart is a multibillion dollar corporation; therefore the way their financial assets are managed is essential for the success of the corporation. Wal-Mart’s monetary structure is built based in the foundation of it principles “We save people money so they can live better" (Wal-Mart, 2009). Wal-Mart products are always at lower prices, so in the long haul have benefited by keeping ahead of its competitors. Wal-Mart’s environment seemed quite challenging and difficult at times, but Wal-Mart still has better sales than any other in the market by staying true to its principles. It has been able to keep progressing and be successively in what they do (Wal-Mart, 2009).
According to Bateman & Snell (2009), the basic activities of human resource managements is recruitment, selection and outplacement, training and development, performance and appraisals, reward system and the ration of all external and internal customers. Wal-Mart Human Resource Department have the responsibility to do an environment scanning to see for the current needs of the organization then check wages, pay and benefits exist that will benefit the organization. In Wal-Mart’s case, they have supervisors train in various areas to ensure associates are properly trained to deal with the most difficult situations. Also, Wal-Mart has a leadership and mentoring program that encourage women to become leaders in the organization as part of the reward system. Wal-Mart has a philosophy that they must treat employees with respect and dignity, so their employees will do the same with the customers. The best part is that human resource is available 24 hours a day...