Low-cost Leadership Strategy In Walmart Corporation
Walmart corporation is an American worldwide retail company that works a chain of hypermarkets, discounted retail chains, and supermarkets. Decision making is one of the most critical activities in any organization. Walmart handles their decision making process like any other big corporation by following a tight organizational structure. In most cases decisions are handled by the senior staff and communicated to inferior staff, teams are also used to make decisions. Choices may be made following quite a while of investigations of data or even in an instant with little or no consideration at all. In cases even Walmart stakeholders play a significant part in the decision making process. Stake holders are categorized into 4 different groups: Investors (top priority), customers, employees, and suppliers.
The corporation utilizes online administrations with arrangement of online calls database and an incorporated cell phone to encourage correspondence. The human resource management by the corporation involves employee monitoring strategies. The human resource department is efficient in managing updated employee information by following the ethical human resource policies. The managers monitor and report any employee information to the employment union.
The organizational chart in the corporation is pursued with specific job specification and described to guarantee that all workers know who to report to. The head office of Walmart monitors all the reports and directs them to free online calls and comments to the corporate staff at the headquarters. Wal-Mart is excited about guaranteeing that the internal and external business environment is running smoothly. Walmart handles theft in a variety of different ways depending on the seriousness. Stealing from Walmart can lead one to incarcerated for a few days, months, or even a few years, depending on the dollar value of what was stolen and the individual’s criminal history. It is stated in Wal-Mart policy that they will not detain or press charges on someone who is caught shoplifting less than $25 worth of items. Instead, they’ll insist that you leave the item with them. However, as the dollar value of the item increases, the severity of penalties do as well.
If caught stealing with a partner the prosecution will charge the combined amount stolen and charge you both accordingly. Walmart has quite a high turnover rate. I think this is because with Walmart being a huge corporation there is a lot of unhappy employees. The reason employees might not be happy are because of the compensation. Employees want to feel valued and they have just now after years of complaining received a increase in wages. The corporation says that all staffs ought to be inventive and able to work under minimal supervision failure to that can require a potential job loss. In terms of complexities the corporation is faced with many of them from internal and external levels. According to the corporation they ensure that all complexities are dealt with considerably. In my opinion Walmart is both a business and a system. I say this because it is a corporation meaning the task of market research is revoked to employees because of corporate inspectors are fulfilling that task.
The inspectors then provide well analyzed reports to the employee to help them understand the market. All decisions on the company are from the corporation’s headquarters and communicated down to the other staff down the organization structure. Computer technology is 100 percent of the corporation. As the world constantly evolves technology does the same. By having updated technology it’s more time consuming and very efficient when running a multi millionaire corporation with tons of customers. Bar coded technology has being in the growth on the business market over the recent years. This technology has helped to provide information on products by using scanners both electronic, computerized and on mobile devices.
Wal-Mart’s application of low-cost leadership strategy helps in lowering product prices and on activities such as supplies, distribution, operation, sales, marketing, operations and services. Wal-Mart philosophy implies that this low cost strategy will ultimately cause better lives for customers. I believe this strategy has grown tremendously over seas.
