How Wal-Mart Maintains Sustainable Growth and Development?

WAL-MART
Name
Institution
Executive Summary
The United States’ retail industry plays a significant role in the growth and development of the national economy with its wide range of activities. Retailing serves as the final bridge between manufacturers and consumers as it breaks down the bulk of goods and services from the former into smaller packages for the latter. The process involves a wide range of activities and thus providing equally diverse employment opportunities for the nation while also creating profits and revenue for the proprietors. Wal-Mart, the leading retail chain store in the United States and around the world, provides such services. An evaluative analysis of the organization’s key elements provides a comprehensive understanding of some of the industry’s concepts.
WAL-MART
Introduction
The retail industry accounts for over 5% of the United States gross domestic product as it generates approximately over a trillion dollars of additional value to the economy CITATION Bel01 \l 1033 (Bell, 2001). The largest revenue contributors in the United States’ retail industry include its automobile wing at $212 billion and the grocery business coming second at a net worth of over $165 billion in revenue generation CITATION Bel01 \l 1033 (Bell, 2001). Sectors within the retail industry are dealing with or rather retailing the general merchandise account for the industry’s $161 billion of the entire revenue generated annually CITATION Bel01 \l 1033 (Bell, 2001). The diverse marketing strategies taken by the retail firms ranging from online retailing to delivery services, the industry creates entry-level employment for over 5 million Americans at a minimum wage thus leading to the sustainable growth of the economy. Wal-Mart is one of the leading retail firms in the United States and around the world, a status it enjoys courtesy of its wide coverage and penetration of the highly competitive global retail market. The firm’s structural organization, revenue generation, market share, and management strategies provide an excellent platform for the analysis and understanding of the key elements facilitating its sustainable growth and development.
Wal-Mart’s Background Information
The firm built on the premise of its founder’s vision of revolutionizing the American retail industry by offering great value for their money with exemplary customer services. Sam Walton, the founder, believed that it is the customers who were the key to the sustainable growth of the retail business. He focused on enhancing the lives of his consumers by helping them save money on their purchases by reducing the prices of goods stocked at his store CITATION Wal18 \l 1033 (Walmart, About Us, 2018). At the age 44, Sam Walton opened the first Wal-Mart store in Rogers, Arkansas in the year 1962 with a strategic sales approach of providing consumers the lowest prices at any time and anywhere with the best customer service experience CITATION Wal18 \l 1033 (Walmart, About Us, 2018). The retail firm’s steady growth since its foundation led to its incorporation in 1969 to become Walmart Stores Inc. with an expansion of over 25 stores across the United States. The company went public in 197...