Wal-Mart

Steven Copeland

11/29/11

Business & Society

            

                                                                 Wal-Mart

         Wal-Mart is an American multinational corporation that runs chains of large department discount stores. The company is the world’s 18^th largest public corporation. Wal-Mart is also the largest public corporation when it comes to revenue. It is the biggest private employer in the world with an astonishing 2 million employees as well as being the largest retailer in the world.

         The film about Wal-Mart that was shown in class really helped me understand how they were able to offer such low prices for customers and keeping them satisfied. What surprised me most about this film was how they were able to keep their prices lower than any other retailer around. That is what put the Wal-Mart Empire on top. Buying supplies and appliances in bulk is a much more efficient way to run a business. Buying the products in bulk allows Wal-Mart to sell their products very cheap and keep them in business and become more successful. I personally believe that Wal-Mart’s strategies are completely fair. They are not doing anything illegal. They are just buying their products in bulk so that they can sell everything for cheap and good quality, not to mention the satisfaction of their customers. “Outsourcing is contracting with other companies to do some or all of the functions of a firm, like its production or accounting tasks.”(pg.6) Some new kinds of jobs that might be created as a result of outsourcing may be working at a different firm for Wal-Mart. You many still be working at the Wal-Mart but at a different location out of the state or different area. Some jobs that might be eliminated are ones at the current Wal-Mart you are employed at. People will be coming from other firms all over the country and that puts your position in risk of being taken and you being replaced. Wal-Mart makes the most money in their business. They get their products for cheap because of buying it in bulk. Once they receive their products, they sell it for the same price as if they did not buy it in bulk.  It is a win win for the company. The customer gets the lowest price and Wal-Mart increases their revenue. This documentary has influenced where I will shop. Just because you buy something from Wal-Mart does not mean it is low quality. It is just as nice if you were to buy something at Macy’s except you save money. People who like to save money usually shop at Wal-Mart. Along with the bargain shoppers; people with low incomes tend to shop Wal-Mart over other stories because of their great prices and massive selection of goods. Wal-Mart should balance the needs for worker benefits by giving every employee the same amount of benefits. They can keep their prices as low as possible as long as the sustain a large amount of money in revenue at the end of the year.