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Mgt 521 - Walmart Mission, Visions, Values and Management

Autor:   •  May 26, 2017  •  Research Paper  •  1,531 Words (7 Pages)  •  461 Views

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Mission, Visions, Values and Management

James Thomas

Mgt 521

May 8, 17

University Of Phoenix


Introduction

One of the main reasoning for evaluating Wal-Mart’s mission, vision, values against the robust statement, the paper shows the company's core competencies and strategic goals. By comparing the company's mission, vision, and values. I myself want to see if they are living up to their standards.

Mission and Vision Statement

Wal-Mart’s mission statement is “Saving people money so they can live better (Wal-Mart, 2017). This mission statement will have to people living better. Wal-Mart matches must of their completion prices or lower them. This statement is synonymous to the company’s slogan, “Save money. Live better (Wal-Mart, 2017).” The firm follows and succeeds in fulfilling the “saving people money” component of the mission statement (Wal-Mart, 2017). An organization with vision has a commitment to conducting business interactions professionally. An effective mission statement is very important. To be the best retailer in the hearts and minds of consumers and employees’’. Wal-Mart has to look for their consumers and employees to stay on top of the retail business. The company is always looking for people to save money. Wal-Mart values their customers all the time. The company aims to be in a top position in the retail industry and stay there. Based on its current situation, the firm has already fulfilled the “best retailer” part of the vision (Wal-Mart, 2017).Wal-Mart’s vision statement also points to the minds and hearts of the people that matter most to the business, i.e. consumers and employees. (Wal-Mart, 2017).” Wal-Mart want to keep people in there stores shopping.  The company has realistically influenced the minds of consumers and employees on the basis of financial benefits (Wal-Mart, 2017). Employees earn their wages. While consumers save money through Wal-Mart’s low prices. However, the “heart” component of the vision statement remains to be proven (Wal-Mart, 2017).

Organization's core competencies.

                Wal-Mart uses market penetration as its main intensive strategy for growth (Wal-Mart, 2017).This methods allows Wal-Mart to expand and grow. Market penetration involves selling more goods or services to the current target market (Wal-Mart, 2017).They have to be able to sell all products and items. Wal-Mart sells more goods and services to its current consumers, Wal-Mart offering discounts, promotions, and special packages (Wal-Mart, 2017).” This methods will keep people in the stores. For example, the company offers discounted wholesale packages of various goods. Wal-Mart uses Market Development and example of it. Wal-Mart uses market development as its secondary intensive strategy for growth. This intensive growth strategy involves entering new markets. This will be able to sell to consumers other than those that the company currently has. For example, Wal-Mart establishes new stores to achieve market development when companies open new stores in overseas locations to tap consumers in those markets (Wal-Mart, 2017). Wal-Mart uses Product Development and example of it (Wal-Mart, 2017). Wal-Mart only minimally uses product development as an intensive strategy for growth. In this intensive strategy, the focus is on offering new products to the market.

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