Answer
Walmart makes over 300 billion dollars annually, which is approximately 40 million a day. There are about 5000 stores whereby over 70% are in the USA. Walmart is the largest retail company worldwide and has powerful computer systems with unique barcodes. It has even come up with self-check-out systems where customers scan their items for speed and better customer service. The check-out system builds immediate processing and allows a better way to strategies for future sales since information is gotten in time and is accurate.
Steps Walmart takes to ensure it makes high-profit revenue
Step 1. It hires existing entrepreneurs, and in this, they eliminate competition and increase more qualified workers.
Step 2. It has an efficient study program that allows employees to study and gain promotion after advancing their education. It encourages employees and keeps them motivated since they have a high chance of being promoted.
Step 3. It also respects all employees regardless of their rank and refers to them as ‘Associates’ to build the working morale.
Step 4. Improves on its product orientation, which ensures high-quality goods.
Reasons why Walmart makes so much
Stock exchanges.
‘WMT’ is the abbreviation for the Walmart stock on the New York stock exchange. It has a high stock value and almost always gives profit to shareholders.
The threat of new entrants.
Location setting.
Location is key to the success of chain stores since it has to be convenient for customers to gain access to stores. Thomas J Holmes said that Walmart keeps stores close to each other to reduce costs on shipping. It targets specific customers who have an average earning of about 50000 dollars annually.
Uncertainties facing Walmart stores
Business conditions, political stability, and sanctions around parts of the world where Walmart operates. Through sanctions like Covid-19 and employee wages, Walmart is forced to incur a new cost. Due to the way it’s growing exponentially. It faces the risk of theft of its advanced system like in its experience in Germany. Experience from Germany should be that it is willing to do in-depth research to succeed in international markets.
Conclusion
Walmart is the largest employer worldwide and is in more than 27 countries; therefore, it should consider having extensive strategies to remain on top. The improvement of business process engineering in Walmart has ensured the identification and prioritization of key needs, projects, partnerships, implementation strategies, and planning-level costs. This, in turn, has resulted in cost savings for the organization and effective operations programs. BPO also leverages planned capital improvements. It has also helped in allocating resources and staff. Hence there are more effective targeted operations. Therefore, business process engineering has helped in the rapid growth of Walmart. It can also do more overseas research, aid charities, and invest more in e-commerce.
Question 1. How many Walmart stores are there worldwide?
Answer 1. According to their 2020 annual report, there are 1500 stores in about 27 countries and via numerous e-commerce sites.
Question 2. How much does Walmart spend on Covid-19 personal protective equipment (PPE) and cleaning supplies per day?
Answer 2. In March 2019, public vendors from all over the world will be trying to curb Covid-19. Walmart was rigorous in this effort by offering an equivalent of 3.3 million dollars a day for PPEs and cleaning materials for their stores all over the world.
Question 3. What is the average earning of an employee at Walmart?
Answer 3. Walmart employs about 1.5 people in the United states of America, making it the largest employer. An average employee has an annual salary of about 25000 to 30000 dollars. This is for a fulltime based employee.
Question 4. List three categories of merchandise sold at Walmart?
Answer 4. There’s a wide array of items and equipment in Walmart, but here are the three main ones:
General items can be classified into; Entertainment equipment, hardline (outdoor living and hardware), clothing, and interior decorations for homes. Wellness and over-the-counter drugs. Basic household items like; Meat, groceries, and household supplies.
