Introduction
Wal-Mart Stores Inc. is in the discount, variety stores industry. It was founded in 1945, Bentonville in Arkansas which is also the headquarters of Wal-Mart. Wal-Mart operates locally as well as worldwide. It operated 1209 discount stores, 1980 super centers, and 567 Sam’s Club by January 31, 2006. It has also extended its operations to many international countries. It runs its retail stores in two forms: Sam’s Club and Wal-Mart Stores. The Sam’s Club sells assorted product lines such as hardwares, electronics, jewelry, and to mention a few. The Wal-Mart stores also offer similar products in addition to the following: health and beauty products, apparel for women, men and children, household appliances etc (www.yahoo.finance.com). The Vision Statement, Mission Statement, Values and Code of Conduct, Corporate Governance: Directors, Executive Management, Committees and Stakeholder will be the key elements that will discussed in this report as it relates to Wal-Mart. In addition to that, the major trends in the general/macro environment and industry will be analyzed.
Vision Statement
Wal-Mart has been one of the most successful companies in the world. The success of Wal-Mart can be traced with its vision statement concerning globalization. According to Hitt, Ireland, and Hoskisson in their text book, “Strategic Management,” a vision statement is a statement that describes the organization and points out what the organization wants to get in the future (19). Thus, vision statements focus on implementation of strategies and decisions which pave the way to a successful business in the future.
Wal ...