Introduction
Walmart, Inc. is a significant retail and wholesale distribution company. The company was founded in 1962 by Sam Walton to conduct convenient commerce at affordable prices close to wholesale (History, n.d.). As the number of stores and the quality of products grew, so did the number of customers. Walmart has more than 2 million employees and a turnover of nearly $600 billion (Walmart annual report, 2020). The company conducts its activities by its unique business model and forms its goals based on it.
Mission and Goals
Walmart supplies relatively cheap products, which is ensured by modern technology in supply chain organizations. A large customer base is a consequence of the company’s mission: making a difference in the lives of its customers (Purpose, n.d.). The corporate mission is also related to preserving people’s savings on necessities to improve their lives. The company’s primary goals are building trusting customer relationships and developing store loyalty. This shows the company’s potential to create long-term relationships with consumers and consider their desires for the sales organization. According to the company’s statement, the goal of saving consumers money is called a productivity loop, which allows them to save money on merchandise (Purpose, n.d.). Walmart also points out that they have a social responsibility to benefit the public by making it easier for them to shop.
Ultimate Goals
The company is interested in preserving and developing the quality of its products, giving them all the features consumers need. Their ultimate goal is to distribute cheap and affordable food in their stores to achieve public goods. Data from corporate financial reports indicate an increase in profits while maintaining production and logistics costs (Walmart annual report, 2022). In addition, Walmart is interested in sustainability and tries to drive its business in a sustainable direction (Sustainability, n.d.). The company owns two main websites corporate.walmart.com for corporate goals and walmart.com for the customers.
References
History (n.d.). Corporate Walmart. Web.
Purpose (n.d.). Corporate Walmart. Web.
Sustainability. (n.d.). Corporate Walmart. Web.
Walmart annual report. (2022).Walmart. Web.