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Wal-Mart Business Functions

Essay by   •  July 9, 2011  •  Essay  •  334 Words (2 Pages)  •  3,927 Views

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Wall-Mart Business Functions

Management is an important tool for the success of any organization. All the functions of management are affected by external and internal factors that will impact the decision of the managers and how they can delegate the work throughout the organization. Wall-mart is an organization that has been exceptionally successful in attaining its goal of becoming top retail store in the world. Managers for this organization must plan, organize, lead, and control each element of this organization in order to succeed. In order for Wall-mart to remain competitive and successful in business, the following key elements must be constantly considered: external and internal globalization, innovation, ethics, diversity, and technology. Managers must take into consideration that will help the organization move forward and guarantee its success.

Globalization

The issue discussed here involves the globalization of Wal-Mart and how globalization affects the four functions of management. The four functions of management for Wal-Mart evolve around two factors; these two factors involve both internal and external factors influencing Wal-Mart's decisions. Wal-Mart has spent many years and millions of dollars trying to understand the factors influencing the corporation's decisions.

Wal-Mart has spent many hours with personnel from management teams, research teams, sales teams, economics teams, customers, and consultants trying to forecast the future of Wal-Mart and the customers who shop at the stores. The company conducts research to determine what direction the company should head and how to arrive there. The research is to see which trends are formed by customer purchases and what the needs are of the customers purchasing those goods. Wal-Mart's management team is constantly adjusting and reorganizing to the customer's needs and wants. Despite the constant changes and adjustments the company has at times found the pace of change and the influences of the global economy over-whelming for Wal-Mart's management team. Several times in the past decade Wal-Mart has seen the company's strategic global plan for the future rewritten because of unseen economic changes in the world.

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