Brazil’s economy Essay
Wal-Mart is a retail company which has more than 8,000 retail branches in more than ten countries, the store branches make a huge profit that amounts to billions of dollars and provides employment opportunity for a lot of people across its many branches. Wal-Mart as a corporation is known for its generosity and its partnerships with international non profit organizations around the world. According to their official website, Wal-Mart started in 1962 with the opening of the initial store in Rogers, Ark.
Their shares came into market trading in 1970, and in two years they were on New York Stock Exchange. Wal-Mart had opened more than 270 branches within ten years. The year 1991 saw it become an international corporation after a Sam’s club was opened close to Mexico City eight years after their first Sam’s club membership was established (walmartstores. com). The company aims at providing its customers with a worthwhile experience as they spend less money in the Wal-Mart stores. That was the vision of the founder Sam Walton as he started the company in 1962.
The company shares were split in 1971 for the first time, at the time the shares were selling at $47 in the market, the
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With its fourth split in 1980 the company shares had reached a price of $50, in 1987, after another split the shares were selling for $66. 625, while the sales had hit the $15 billion mark and the number of employees had greatly increased (walmartstores. com). Wal-Mart does not actually manufacture any products, but instead they have found a way of bringing the manufactured goods to the customer’s hands at affordable prices as compared to the other retail stores. Wal-Mart has invested a lot of money into ensuring that their stores run smoothly and they make profits in the process.
They have a well established business ethics that has seen them succeed, they are able to keep good sales records and they ensure that there is constant supply of the products that their customers may require. The company has revolutionized business ethics in the world and how the customers are treated, and their experiences in stores have been made positive. Customers always go back to the stores because they know that their needs will efficiently be taken care of (walmartstores. com).
Operations Brazil is one of the countries where Wal-Mart had established a branch through a joint venture with Brazil’s top department store, Lojas Americanas. The partnership came into being in May 9, 1994 when Wal-Mart made an investment there. At that period in 1994, Brazil’s economy was realizing a turn around as it was improving, while its currency was also doing well against the American dollar, that was the main reason why Wal-Mart felt the need to invest there (Katobe,2003).