Swot Assessment Of Wal-mart Corporations
Table of Contents
Industry
My positive abilities
Areas of Improvement
Opportunities
Menaces
Suggestion
Wal-Mart shops are well-known because they sell a wide range products at a fraction of the cost. The retail store is open in all parts of the globe, expanding its operations even to third-world nations like Nicaragua. Walmart Inc. continues to expand its reach into other countries and save money. The retail-based company has had an impact on our economy and will continue to do so.
This paper will examine Wal-Mart Corporations in terms of their Strengths and Weaknesses (SWOT). The following assessment was based on credible and articulated resources.
IndustryThe use of advanced technology to recycle and recover products is one way that we can help save the planet. This retail giant is using innovative techniques for recycling and recovering products, such as plastics. Society of Plastics Engineers, Inc. states that more than 1800 North American businesses recycle post-consumer-grade plastics, a threefold increase over the previous year. Wal-Mart is making bold moves to save our planet. Wal-Mart Inc. encouraged all its vendors and suppliers to recycle their products. Kroger CO. is one of the vendors that launched a significant effort, pushing consumers to recycle products after use.StrengthsThroughout the US and around the globe Wal-Mart is known for providing more products for less. They are able to increase the industry’s size by allowing families to save more. Wal-Mart is well-known for its wide variety of products that we use every day. They sell groceries, household appliances, parts for cars, and many other goods. These products are what consumers use every day. Walmart is the sole company that has the goal of improving consumers’ lives by allowing them money to be saved and used for things they enjoy. Wal-Mart also offers a wide range of products. Wal-Mart stocks many products such as groceries, electronics, health and well-being, clothing, home categories, equipment and automobile parts. Wal-Mart listens and focuses on the needs of its customers. Strategic planning and execution are key to the unbeatable pricing. Wal-Mart Inc. discovered that communicating with customers and listening to them is key to reaching their company’s goals. Programs such as “everyday, everyday, low cost, rollbacks and saving catcher” are some of the most popular programs that help to maintain low costs at Wal-Mart Inc. Effective communication with customers is essential. This includes getting feedback and mailing the goods or services. Wal-Mart has been criticised for its treatment of employees and the benefits that they receive. One of the many controversies was that Wal-Mart violated the state and federal minimum wage. Exploiting employees has done nothing but damage to the company’s reputation. OpportunitiesTechnologies enable us to communicate, to buy and sell products with less effort. Platforms help businesses run more efficiently and smoother. Wal-Mart used new technologies to develop user-friendly platforms which allowed customers to shop online and pick up their goods at home. The company gained profit by being able create user-friendly interfaces. The company has been able to reach a wider audience through ecommerce. This allowed them to grow and make more profit. Wal-Mart offers a wide variety of products, which can be used to meet consumers’ needs and wants. Although it was established in the United States, Wal-Mart has grown rapidly to be a global company that can reach third world countries such as Nicaragua. Oxford press reports that Wal-Mart invested $7.922 million, which included $2,171,000,000 in reach through new shops. This is a testament to the strength and potential of this company. ThreatsWalmart is constantly under threat from its rivals Sam’s Club and Costco. All three retail stores have a specific purpose. They are there to help, serve, and provide assistance for their customers. According to Southern Economic Journal, Charles Courtemanche & Carden wrote that Costco and Wal-Mart’s marketing plans tends to target small businesses while Costco sells high-end products aimed at the upper-middle-class. Walmart faces pressure when it comes to developing a new market strategy. Walmart has several retail outlets that target a specific group of society. Wal-Mart’s rapid expansion is making it more difficult to compete with other stores. It’s effectively driving out competitors in some parts of the US. They are able to attract customers to their stores by increasing the number of retail stores. Although this could be good for Wal-Mart it would mean little for the community. Wal-Mart simply shut down all of their retail stores that they owned for years. This could cause the loss of their culture, which might be a problem for society. Some residents are concerned about the preservation of their local shops and are keeping them open in order to save their community. Wal-Mart’s presence could cause disruption in the local culture. RecommendationOverall Wal-Mart continues its dominance as the leading retailer in the US. Wal-Mart continues the positive impact it has on the lives people living with low income. The company’s treatment of their employees and expulsion of older stores is an issue that has been criticized. Wal-Mart’s ability to listen to and respond to customers is another reason why they continue to be a leader of the retail market. They are seeing the benefits of their user-friendly platform, which is helping them grow and make more profit.
