Wal-mart is one of the largest companies in the United States and its’ neighborhood. With diverse economic activities across the world, it has managed to overcome the many impediments that are always associated with smooth running of large corporations. The company is among the top firms holding the economy of most cities across the world. In business, one has to implement ways of survival and competing successfully with other investors. For this regards one of the major strategic plans that can give you an upper hand in this field is lowering prices of your products and services. this made Wal-mart to be identified as the best since despite the low prices it managed to survive the trials of time and in fact it stimulated its’ growth and development boosting its profits margin to greater heights. The success of any business also depend on the structure and laws put forward by the board of directors; a strong working force will definitely achieve its’ objectives within a stipulated time period but a weak board will always make the operations slow and lack the psyche of team work (Ferrell, 2010).
Despite the determination of a firm to attains its’ targets, one will never missed to be criticized especially if you are a threat to other competitors. Usually a group of individuals gets into one’s affairs that they want to know every detail in your life hence investigating you every now and then, and when they find a small mistake, they magnify it and spread it as rumors in an effort to pull you down. These are life’s huddles and we must stand strong for they shall come to pass. All businesses are faced with constant problems and the directors are the ones to put things in place and move forward without blinking. Create a good public relation and try to be fair by employing the various business ethics to whatever activity we do and we will realize the growth of the business. For continued growth, any company needs to adapt and embrace new technologies, which are the driving force for effective and efficient operation (Crane & Mitten, 2007).
Wal- mart is focused on satisfying its’ customers by providing low cost products to the market. They are mainly concerned with the sales and the higher the number of customers you have the higher the sales, which translate to increased profits. With the Wal-Mart three beliefs: respect for individual, services to customers and striving for excellences, all these beliefs are directly to the benefit of the customers. This is illustrated by the fact that Wal-Mart dictate price reduction by the suppliers by certain percentage every year and if they fail to comply they stop getting their goods since their concern is to remain in the market while providing goods at low cost which will satisfy the customers. Also for good reputation, it is the customers who can determine that, not the suppliers, employees, or the community. By satisfying the customers the community will benefit directly or indirectly (Copy, 2004).
Emphasizing on sustainability does not indicate a change in stakeholder’s orientation. While Wal-Mart was struggling with this issue, she was putting down strategies that see the improved development of managerial skills hence enhancing effectiveness of the organization. The company’s struggle to maintain its’ image only maintain and sustain the existing customers. Diversifying resources and venturing new markets led to generation of more income thus stabilizing the firm (Ferrell, 2010).
If I were the CEO of Wal-Mart, first I would encourage the workers to work as team and help each other whenever they are faced with a problem. This will reduces cases of suspicions and build teamwork, which will see targets being completed on time. Apart from that, I will lay down methods of motivating them such as taking the workers on retreats where each one will feel free to air his/her views knowing in mind that the success of the organization does not depend on my own skills but contribution of every employee. Building up conducive business environment where all employees feel a sense of worthiness help them build their self esteem and probably get determination in doing their work. I will also ensure that all the employees needs are well taken care of and those who are eligible for any insurance or Medicaid get them and special needs are provided for special cases like disabled employees are treated with concern (Ferrell, 2010).