Wal-Mart Stores, Inc. is considered to be an American corporation running a chain of discount department stores. This company is one of the largest in the world. It was founded in 1962 by Sam Walton and has been operating the public world market till now. Wal-Mart Corporation is regarded as the greatest private employer throughout the world. Complete success of company development depends on the appropriate strategic planning of marketing operations.
The governing operations of Wal-Mart are fulfilled by Board of Directors being responsible for strategies of the corporation functioning. The Strategic Planning is always appointed by chief directors concentrating on financial operations of the company. The Committee of the Wal-Mart headed by Chairperson regularly organizes special meeting for agenda discussions. All the meetings are carried out in accordance with company laws and duties. The responsibilities of the Committee are aimed at business judgment exercising in order to act reasonably taking into account the interests of the Corporation and shareholders. Strategic Planning of the Company covers the following issues:
- To obtain the information about the financial status of the corporation on a timely basis;
- The capital structure evaluation in order to develop recommendations focused on the data provided;
- To develop annual financing plans, global financial practices, restructuring and divestitures;
- To analyze the principle financial goals of the company that are to be achieved in future.
- To review annual budget and dividend policy for the purpose of the investment projects development.
Strategic plan of the Wal-Mart company is to cover some of the basic points such as: community coalition building; legal actions and political rallies; press outreach and paid Media; petition drives aimed at providing complete support of company goals by local citizens; legislative strategies development.
The basic purpose of Wal-Mart Corporation is to save people’s money. Such a position is considered to be the background of Wal-Mart strategies making them successful. The business is based on the moral values of the society helping to develop the unique corporate culture. It is important to stress that strategies of the company aimed at meeting the customers’ interests are considered to be beneficial for its financial aspect. According to statistics about 100 million consumers visit the stores of Wal-Mart Company weekly; it is about the third part of US population. Customers’ income is coordinated with low prices of Wal-Mart goods.
So, the analysis of Wal-Mart strategic planning has shown that the culture of the company is basically focused on the interests of US population. As a result the company is considered one the most admired in the world. Marketing operations meet the requirements and standards of the average customers. Wal-Mart is an international company; about 75% of Wal-Mart international stores operate under various banners but all of them are aimed at common purpose of saving people’s money and making company goods available for everyone. Management operations being wholesale and retail are fulfilled through stores of different styles. It should be stressed that Wal-Mart strategic planning is focused on productivity, technological advancement and cultural changes of the society.
America’s Campaign to Change Wal-Mart. 2008.