Unit 2-Assignment 2-Case Study Part 1 GB518 Financial Accounting Principles and Analysis Brad Friedman Prof Leon Grove May 20th, 2014 Introduction When it comes to running and managing an effective business operation, there are many important considerations to be mindful of. Whether it’s a small business or a conglomerate, it’s crucial to hold a strong competitive advantage. This basically means that there needs to be something that differentiates the business from the rest of the competition, such as the products and services that are offered. In many industries, the market is highly saturated with stiff competition, such as the accounting/tax industry. In this industry, there are many products and services offered, of which, are similar. Some companies have major success, while others have minimal success or go completely out of business. For this assignment, I used Walmart as an example for an organization that is a major player in the U.S. economy. They have been in operation since 1962, and their services are many, including retail, groceries, electronics, and home improvement. Walmart is considered the largest among all retailers, so it truly belongs to the retail industry. They do, however, face many challenges from industry competitors, such as Target, Big Lots, and Costco. Mr. Sam Walton (Walmart’s founder), however, has earned incredible success for Walmart in the retail market with an ever-expanding customer base. He started his business back in 1945 from a branch of Ben Franklin Stores, with a focus on selling products at lower prices to get higher-volume sales at lower-profit margins. Walmart Inc. was officially established in 1962 as a proprietorship... ... middle of paper ... ... evidenced by recently reported total revenue figures. According to Walmart’s February 2014 news release, “total revenue was $129.7 billion, an increase of $1.9 billion, or 1.5 percent, over last year” (Walmart Corporate, 2014). References Walmart Corporate (2014, February 20). Walmart Corporate - Walmart reports Q4 underlying EPS of $1.60, Fiscal 2014 underlying EPS of $5.11. Retrieved May 19, 2014, from http://news.walmart.com/news-archive/investors/2014/02/20/walmart-reports-q4-underlying1-eps-of-160-fiscal-2014-underlying1-eps-of-511 Wal-Mart Stores, Inc. Form 10-K (2014, March 21). NYSE, New York Stock Exchange > Listings > Listings Directory Wal-Mart Stores, Inc.. Retrieved May 18, 2014, from http://secfilings.nyse.com/filing.php?doc=1&attach=ON&ipage=9482653&rid=23 Wild, John J. (2012): Financial Accounting: Information for Decisions
In 1962, Wal-Mart opened their first store in Rogers, Arkansas. In 1970, Wal-Mart's first distribution center and home office in Bentonville, Ark. open and Wal-Mart went public on the New York Stock Exchange. Just nine years from that, Wal-Mart's annual sales exceeded one billion dollars. In 1988, Wal-Mart super centers opened across the country. In a merely three years from that, Wal-Mart opened their own store in Mexico City, Mexico; making Wal-Mart an international corporation. Not even sixty years has past, and yet, Wal-Mart is over-powering our country.
Wal-Mart Stock Information -. (2007) Retrieved electronically on April 15, 2008 from http://walmartstores.com/Investors/7643.aspx
Wal-Mart Annual report Wal-Mart has over 8,400 retail units under 55 different banners in 15
Walmart defied the traders’ speculations and had them turnaround a few weeks before it issued 2017 Q3 earnings report on Thursday November 16 which proved
Dicker, John. The United States of Wal-Mart. New york: Penquin Group Inc., 2005. 21-59. Print.
Wal-Mart initially began its operations in 1945, when Sam Walton leased a ‘Ben Franklin’ franchise variety store in Newport, Arkansas. After relocating to Rogers, Arkansas in the early 1950s, Sam Walton’s ‘Ben Franklin’ became ‘Walton’s 5 & 10’. By 1962, Walton found himself the chain owner of 11 different Walton’s stores across Arkansas. He then decided to rename the chain ‘Wal-Mart’, after himself. On October 31, 1969, after further expansion across the state, the chain was incorporated as Wal-Mart Stores, Inc. Three years later, Wal-Mart was approved and listed on the New York Stock Exchange (NYSE).
Vance, S., & Scott, R. (1994). Wal-Mart A History of Sam Walton's Retail Phenomenon. New York: Twayne Publishers.
And what is even better is that the convenience comes at a low and affordable price. Hailing its low prices and expanding across the nation and throughout the world, Wal-Mart has become a global behemoth, the global goliath, and the ubiquitous corporation (Marquard, 2006). Without a doubt, Wal-Mart is a success story from the start when Sam Walton opened the doors of the very first Wal-Mart in Bentonville, AK more than fifty years ago. The Wal-Mart chain has remained particularly successful when in 2002, it surpassed Exxon-Mobil to become the world’s largest corporation in terms of sales and estimates that more than 200 million customers visit its stores throughout the United States each year (Gereffi, Christian 2009). In 2008, Wal-Mart boasted a global net sales of $473 million, over 2 million employees, and approximately 33 million retail square footage added in fiscal 2014 (Wal-Mart Annual Report 2014). Wal-Mart has become such a corporate giant by capitalizing on its own brand of grobalization,
Wal-Mart Stores Inc. is in the discount, variety stores industry. It was founded in 1945, Bentonville in Arkansas which is also the headquarters of Wal-Mart. Wal-Mart operates locally as well as worldwide. It operated 1209 discount stores, 1980 super centers, and 567 Sam’s Club by January 31, 2006. It has also extended its operations to many international countries. It runs its retail stores in two forms: Sam’s Club and Wal-Mart Stores. The Sam’s Club sells assorted product lines such as hardwares, electronics, jewelry, and to mention a few. The Wal-Mart stores also offer similar products in addition to the following: health and beauty products, apparel for women, men and children, household appliances etc (www.yahoo.finance.com). The Vision Statement, Mission Statement, Values and Code of Conduct, Corporate Governance: Directors, Executive Management, Committees and Stakeholder will be the key elements that will discussed in this report as it relates to Wal-Mart. In addition to that, the major trends in the general/macro environment and industry will be analyzed.
Because Wal-Mart is the world’s largest retailer and private employer, it has established a highly profitable business centered on a low-cost strategy and utilizes logistical efficiencies to create a competitive advantage. This is a general merchandise discount retailer that was incorporated in 1962 but yet, only established in Canada in 1994.
Walmart is the biggest retail store in the world. With over 1.3 million employees, their practices affect us all in one way or another. Walmart recorded a financial income of over eleven billion dollars last year. With all this money one would think they are able to keep all employees happy and taken care of.
Wal-Mart Stores, Inc is an American public corporation that runs a chain of large discount department stores and a chain of warehouse stores. In 2010 it was the
The first Wal-Mart was opened in Rogers, Arkansas, in 1962. By 1969 it was incorporated into Wal-Mart Stores, Inc., and in 1972 went public on the New York Stock Exchange. The company grew steadily across the United States, and by 1990 was the nation's largest retailer. In 1991 and 1994, Wal-Mart moved into Mexico and Canada respectively. By 1997 it was incorporated into the Dow Jones Industrial Average. As of 2005, Wal-Mart has stores in the United Kingdom, and Puerto Rico, and brings in revenue of close to 300 billion dollars a year. In 2006, Wal-Mart invaded the China and India's markets. During the last two decades, Wal-Mart has been able to take advantage of the rise of information technology and the explosion of the global economy to change the balance of power in the business world (Wikipedia, 2006). Today Wal-Mart continues to grow and their success is not only from their sound strategic management planning but also from its implementation of those strategic plans. In other words operational planning has been an important key to their success.
Page Break Index A brief introduction about Walmart's history Managerial functions Probable Stakeholders Types of planning and levels of management SMART Strategic management process Organizational structure Conclusion Page Break Walmart was
Wal-Mart definitely makes their shareholders money. The fundamental question is whether the shareholders care about Wal-Mart’s scrutiny. Shareholders should have some concern on how the world views Wal-Mart and how long they will hold up under the scrutiny.