Wal-Mart's Balanced Scorecard & Financial Perspective

The Balanced Scorecard & The Financial Perspective
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Wal-Mart Stores
Wal-Mart enjoys a larger market share in retailing because it is the largest retail store in the US with several branches outside the US. Wal-Mart founded by Sam Walton in 1962 in Arkansas. Wal-Mart is the leading retail firm in the world selling assorted merchandise including, health and beauty aids, household items, toys, electronics, shoes, family apparels, lawn and gardening equipment, jewelry among others (Matusitz, 2013). Wal-Mart’s vision is to be the best retailer in the hearts and minds of both consumers and employees. The company's mission not to achieve the top position within the retail industry (Robin, n.d.).
Wal-Mart annual revenue of $ 485 billion in 2015 was based on its effective application of its strategies to achieve its mission and vision. The "Everyday low cost" strategies attract many people who want to save money. Wal-Mart aims at making people not to stretch over their paychecks by offering low-cost products. More than 245 million customers visit their stores on a weekly basis (Matusitz, 2013). Wal-Mart’s innovative thinking, combined with its strategic management, ensures that its customers receive the best prices in the market (Matusitz, 2013).
Keeping prices low being more innovative to reduce cost using different strategies like direct negotiations with the manufacturer, using advanced technology in its warehouses (Matusitz, 2013). Some of the company’s key objectives are to:
* Dominate the retail market everywhere (Matusitz, 2013).
* Expand in the US and internationally, create widespread recognition and improve customer satisfaction through its brands by offering the best prices (Matusitz, 2013).
* Diverting to a new sector like pharmacies, automotive repair and grocery sales (Matusitz, 2013).
Wal-Mart has dominated the retail market through discount selling products at the lowest possible prices has enabled the company earns profits on increased volume of sales (Matusitz, 2013). Through competitiveness Wal-Mart, stores are encouraged to be innovative to meet local demands. The company uses size and volume to increase sales (Matusitz, 2013). Part of its key objective is to expand in the US, and within the international markets, this has been useful because Wal-Mart owns 4000 stores across the world with 1,200 stores and 1.3 million employees (Matusitz, 2013).
Wal-Mart has 77-distribution centers serving more than 100 million customers weekly, all over the world. Wal-Mart ‘s international operation cover countries like the united kingdom, Korea, Germany, Argentina, Mexico, China and Canada (Matusitz,2013). Wal-Mart has recorded a healthy financial performance with sales increasing from 1.6 percent to 5.0 percent within the financial year ended 2016 the increase in net sales is as a result of e-commerce sales and acquisitio...