Presented by globalization
Self-concept – the company of Wal-Mart will not succeed in its venture in retail business without its commitment of providing quality products and services to its loyal patrons and consumers at a cheaply given price. This remains to be the mission of the company to give value to their money at the least price that they could get. “Always low price:” this has always been since the beginning the overall edge of the firm over its close competitors and rivals in the industry.
Concern for Public Image – given the fact that the organization would not reach this point of success without the help and support of the local communities and organization out there, it is the aim of this company to give back the support that it has been receiving for years by participation in several chosen social, community and environmental activities in the local communities. Likewise, it will do the same to the countries where it has its operations. Employees – there is no doubt that the first customer of the store is its vaunted number of employees the management appreciatively called “associates.
” Considering the fact that the company will not be where it is now without the help of these valued people, the company offers a rewarding experience to these people in terms of career growth and financial reward. At the same time, the security that they want from this company will be given rightfully to them. Long-Term Objectives It is already given that Wal-Mart Store cannot afford to stay and preserve the status quo. The competition in the industry is getting harsher and stiffer that to continue the way the company has been for years is a risky and dangerous proposition.
For the past several years, the firm has able to expand continuously its operational existence, both locally and globally. In fact what the annual sales growth in 2007 fiscal year tells that the company is reaping considerable profits and revenue by reaching an estimated sale of $348,650 million (Datamonitor, 2007). This is an estimated increased of 11. 7% from what it has earned during the previous fiscal year 2006 (Datamonitor, 2007). The Wal-Mart Store base from this net generated income computation is able to grow and earn a respectable market share in the industry.
But as the playing field in the industry in the retail industry, other rival retail companies in the industry are fast approaching the status of the company. The main question now that lingers is how the organization can keep their distance from fast approaching rivals. The company in the first place is doing a good job in expanding its portfolio of products and services. It is also has done a good job in perking up its sales and potential for growth for more profits and revenues.
The long-term objective for the company then is to continue expanding its clout in the domestic market, reinforcing its presence in the local market by offering strong and quality control products and services in its array of supercenters and discount stores. The financial benefits that it can derive from this objective are almost limitless at some point. In the first place, there are still several territories in the local home-base of the company where it still has to establish a presence.
The estimated earning sale from each state that the company will penetrate is pegged at an average of $7,418 a state. Another financial long-term objective for the company it can follow is the exploitation of the opportunity presented by globalization. Since many multinationals are now expanding to different countries to build their business clout, it is best for the company of Wal-Mart to follow this direction. The amount of revenue and profit that this opportunity gives to the firm is limitless.