Wal-MartIntroductionAfter its incorporation in 1969, Wal-Mart has become one of the largest retail companies in the world with more than 2.1 million employees working in different parts of the globe. If the company was a country, it would be the 25th biggest economy in the world and this shows the strong position the organization is formed and maintained over these years.
Wal-Mart has been well-known for the provided benefits it provides to its employees along with the environment which it provides to its clients. The management of stores as well as the given working of the employee customer relationship is the most important concept which should be well-developed through the use of prospective success of the company. Over these years, Wal-Mart has turned into one of the biggest employers in the United States and greatly dominates in its neighboring country, Mexico.
The organization not only provides its potential customers with the best possible products under one roof, but it also provides them with a comfortable environment to carry out their shopping activities.IdentificationThere are two types of stakeholders who get interested in any Company; internal and external stakeholders. Internally, the stakeholders in owners, board of directors and the employees.
For the external stakeholders, these include the customers, lenders and the suppliers who are interested in the tax revenues along with the competitors who are affected by the activities of Wal-Mart. There are four important stakeholders for Wal-Mart. These include:1.
Investors – They are ones who help Wal-Mart to make profit. They are also mainly interested in profit. Wal-Mart has prioritized its investors using the strategy that has helped it continue minimize the cost to increase its profit.
2. Customers – The major focus of Wal-Mart is on customers because its mission is also fits well to serve the customers “better living for less”. There are on shoppers who shop at Wal-Mart having the annual income of $35,000.3. Employees – Employees of Wal-Mart are also given priority as mentioned in its mission and purpose statement.
It develops the positive employment culture for its employees as the website explains the policy it has defined for its employee’s fair wage, respect and value.4. Suppliers – They come under the bottom of Wal-Mart stakeholders as it big influences on the suppliers and Company also has more power than its suppliers.
Wal-Mart prefer those suppliers who offer the lowest prices. InterestsThe customers are more interested in having the products at low prices while employees are looking to a friendly working environment where they are provided with fair and equal environment along with fair wages. Investors are interested in gaining more and more profit from the Wal-Mart while suppliers are looking for carrying out business with Wal-Mart at the rate which Wal-Mart wants in order to improve the relationship with Wal-Mart. Map Stakeholder Relationship Expertise Willingness Value Stakeholders Contribution Legitimacy Willingness to Engage Influence Necessity of InvolvementCustomers High: They are the source of income for Wal-Mart High: People rely on Wal-Mart for its groceries majorly. High: Consumers want to attain the products at low prices. High: They influence the prices and rates of Wal-Mart.
High: Without customers Wal-Mart cannot make profit. Employees High: They work for Wal-Mart to increase its productivity High: They make the Wal-Mart sales to increase. High: They also rely on Wal-Mart for their income. High: Changed wages policies impact the earning of employees.
High: there are more than 885,000 people nationwide employed.Suppliers High: They provide items to Wal-Mart. High: Their role is significant for investor. High: Suppliers also want to business with Wal-Mart. High: Changes policies of Wal-Mart impact them.
High: Suppliers are also in competition with each other. Investors High: They own shares in Wal-Mart. High: In 2001, Wal-Mart paid $2.4 per share in dividends. High: Investors are also interested in profit.
High: Changes in share value effects the investors. High: Their shares are important for Wal-Mart to expand its business.MapHigh ExpertiseLow Low Willingness to Engage HighRelevanceEmployees have the key role in improving the performance of Wal-Mart as currently it is employing more than 1.3 million of the employees whole U.
S. has 1 million alone. It requires efforts from the suppliers because it has 4000 stores worldwide. There are over 1,200 units that have been operating internationally. Suppliers are also in great competition because suppliers are trying their best to become partner with Wal-Mart with the reduction of the supplied items.
Wal-Mart has also acquired ASDA chain with around 229 units in the UK. Politics has the key role in the working as well for instance around $752,500 were contributed by Wal-Mart Stores Inc. PAC for Responsible Government to many candidates and committees in 2001 cycle. ReferencesLombardo, J. (2017). Walmart: Organizational Structure ; Organizational Culture.
Panmore Institute.Moseley, D. (2014). Top 10 Eco-Friendly Features of Walmart Stores. Senior Manager of Sustainability Facilities at Wal-Mart Stores, Inc.Sehgal, D.
S. (2017). 16 Facts About Walmart That Will Blow Your Mind. Business Insider.