External and Internal Factors
External/Internal Factors Paper
External/Internal Factors Paper
Walmart is the low price leader. Walmart is the low price leader in America and across the globe. Walmart’s managers have had to plan, organize, lead, and control to accomplish this goal. Walmart is one of the most competitive retail stores in the world. The one thing that this chain has done so much better than the others is cost competiveness. “Walmart’s efforts are aimed at cost competiveness, which means keeping costs low enough so that the company can realize profits and price its products (goods or services) at levels that are attractive to consumers” (Bateman & Snell, 2009, p. 16). Walmart uses innovation to benefit the company. For example, the store in Stockton, CA has a McDonald’s inside the store. This store has a nail salon, portrait studio, vision center, hair salon, food center, and a money center. In the money center bills can be paid and checks cashed. They even cash income tax returns up to 5,000 dollars for a minimal fee of three dollars. Now that’s innovation. This company is always one- step ahead of the competition.
Internal Factors that Affect the Four Functions of Management
Walmart has been leading the retail market. They have some internal factors that affect their management functions. Walmart has had issues with their human resources, in particular, their employees. The discount retail giant has been involved in class action lawsuits by employees. Walmart has been accused of sexual discrimination as well as forcing employees to work without breaks. Walmart agreed to pay $35 million to 88,000 people who worked for the company in Washington for being forced to skip meals and breaks or work off the clock (MMR, 2009). Although Walmart is portrayed in the media as unethical, the company continues to profit. The question is how a company continues to grow when the employees are not treated ethically. The planning of the management is the reason for their
External/Internal Factors Paper
Walmart is the low price leader. Walmart is the low price leader in America and across the globe. Walmart’s managers have had to plan, organize, lead, and control to accomplish this goal. Walmart is one of the most competitive retail stores in the world. The one thing that this chain has done so much better than the others is cost competiveness. “Walmart’s efforts are aimed at cost competiveness, which means keeping costs low enough so that the company can realize profits and price its products (goods or services) at levels that are attractive to consumers” (Bateman & Snell, 2009, p. 16). Walmart uses innovation to benefit the company. For example, the store in Stockton, CA has a McDonald’s inside the store. This store has a nail salon, portrait studio, vision center, hair salon, food center, and a money center. In the money center bills can be paid and checks cashed. They even cash income tax returns up to 5,000 dollars for a minimal fee of three dollars. Now that’s innovation. This company is always one- step ahead of the competition.
Internal Factors that Affect the Four Functions of Management
Walmart has been leading the retail market. They have some internal factors that affect their management functions. Walmart has had issues with their human resources, in particular, their employees. The discount retail giant has been involved in class action lawsuits by employees. Walmart has been accused of sexual discrimination as well as forcing employees to work without breaks. Walmart agreed to pay $35 million to 88,000 people who worked for the company in Washington for being forced to skip meals and breaks or work off the clock (MMR, 2009). Although Walmart is portrayed in the media as unethical, the company continues to profit. The question is how a company continues to grow when the employees are not treated ethically. The planning of the management is the reason for their
References: Bateman & Snell, (2009). Management leading and collaborating in a competitive world (8 ed.). : McGraw-Hill. Frederick, J. (2010, July). Walmart thrives on innovation as pharmacy superpower. Retrieved from http://findarticles.com/p/articles/mi_m3374/is_8_22/ai_63411732/pg_4/?tag=cont Gogoi, P. (2010). Walmart 's Latest Ethics Controversy. Retrieved from http://www.businessweek.com/bwdaily/dflash/content/jun2007/db20070612_548611.htm Walmart Corporation 2010. Retrieved from walmartstores.com/pressroom on July 18, 2010. (2007, Sept 12, 2007). Walmart launches new slogan [online forum comment]. Retrieved from http://www.azcentral.com/business/consumer/articles/0912biz-walmartslogan12-ON.html?...7/15/2010 Walmart-oregon.com http://walmart-oregon.com/home/wm1/smartlist_10 (2009). WALMART NEWS. MMR, 26(12), 4. Retrieved from Business Source Complete Database WikiAnswers.com Bender,2004 http://wiki.answers.com/Q/What_are_the_job_duties_for_the_owner_of_walmart.