Business Policy and Strategic Management Essay Example | Topics and Well Written Essays - 250 words

Business Policy and Strategic Management - Essay Example It is a discount store outlet, focused on marketing brand names for lower prices. Similar stores such as Woolco and Kmart were not as successful as WalMart, because the latter had some unique operating principles which worked to its benefit. After four decades of operation, Woolco outlets have disappeared, while Kmart has moved into bankruptcy, so that WalMart is the top ranking store in the United States. In international locations, Walmart attracted customers by its Everyday Low Prices. It maintained a relentless cost control system by allowing few perks for its officers and employees. It was also able to negotiate tough deals with its suppliers, using its ability to place bulk orders to also make other demand such as high quality and low prices, which it then passed on to its customers. It maintained several distribution outlets and initiated an electronic data interchange system, allowing suppliers to track sales to deliver new stocks and they were also able to exchange invoices, purchase orders and other documents electronically. Another important aspect contributing to Walmart’s success is its human resource and motivational policies.