Wal-Mart is an organization that has grown ever since 1962 after being founded by Sam Walton (Walmart.com, 2017). Walton began his journey by purchasing a franchise in 1945 and getting hands on experience in retail (Friedricks, 1995). This and other variety stores that he had led him to coming up with the strategy for Wal-Mart (Friedricks, 1995). Having the previous stores helped Walton test different strategies and understand what customers really wanted. The primary strategy that Wal-Mart presented was selling goods at discounted prices in order to save customers money (Walmart.com, 2017). In addition to savings, Walton also considered a superior customer service to provide success to the company (Walmart.com, 2017). From 1962 through 1970, the company concentrated within small towns, and in 1970 Wal-Mart went public (Friedricks, 1995). Later, in 1983, the company established their first Sam’s Club, leading the way to opening their first Supercenter five years later (Wal-Mart Stores Inc., 2017). After demonstrating such potential and growth, the company was able to receive a vast amount of financing. The mission of saving people money around the world and providing them the opportunity of living a better life led Walton to making Wal-Mart the leader in the retail industry (Walmart.com, 2017). Overview, Size, Location, and Industry Wal-Mart is …show more content…
This mission is to save the people money in order for those people to live better lives (Walmart.com, 2017). Mainly, this is the primary reason why the company has been able to have so much success. Wal-Mart’s vision is to expand into different markets and continue providing customers with low prices on products (Walmart.com, 2017). Furthermore, the company also has a vision of being able to continue success by providing customers with a great shopping experience provided by all of the associates in the stores (Walmart.com,