Research Paper: Wal-Mart Is the Name

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[. . .] The shop was known as Best Price Modern Wholesale and it delivers to small businesses and to other merchants. Only with a few regulations, there have been a t total 30,000 members signed up for the first store opening. Despite the setbacks, this is truly good success rate.

The major emphasis in the Best Price store is similar to what the Wal-Mart in the United Sates would offer. They offer everything from car products to groceries to apparels and cosmetics all under one roof and that too at a decent price. A 25 member team actually goes around checking to see if they are still offering the best price in town. The team goes around and sees the prices at different shops and thus makes sure that they are providing the best value. A previous Whirlpool employee who is now the head of operations in Wal-Mart, Rai Jain, has now gone to initiate a program where he will train people. This institute is present in Amritsar and is created with partnership with Punjab government and Bharti.

This is quite necessary because many employees don't really have an idea to work at a large store. Since this idea is new in India, there needs to be a proper program where the employees are trained well. They need to be taught more about customer service tactics and merchandising skills. They need to be accustomed to certain products that they have not seen before. An example could be given of the Japanese guava that some restaurant owners picked out and the employees didn't know anything about it. Another idea of Jain's is to purchase directly from the farmers and cut down the cost in doing so. At the moment about 15% of the products are being delivered directly from the farms to the shelves. Since people in the subcontinent are fonder of fresh products, he hopes to raise the figure to about 40% by the end of the year.

Even though this looks like a hard task to do, but it does have some hope. Jaideep Singh and his Shalini who is his sister go about 25 miles to get the products for their fathers store. For them, the best price store gives good profit due to the low prices goods. Since it does offer them a decent twenty percent profit, the duo visits almost two to three times a week.

Bringing Russia into the perspective, Wal-Mart wishes to open about ten to fifteen outlets through the partnership. The plan is hire about five thousand people. However, McMillion wishes to see the Wal-Mart retail stores running in India as well. He talked to the agriculture and commerce ministers about it in New Delhi in July. His major emphasis was that if they could they would go on to invest more and more and at a rapid rate if they were allowed to do so. To his remarks, the Indian government representatives did not have anything to respond with.

Issues faced

Surely, it is not an easy task to expand a firm and a corporation overseas. It was in the early nineties that Wal-Mart made its introduction in Hong Kong. In just two years, the operation was shut down. Similar happenings occurred in Indonesia subsequent to rioters destroying a unit in the capital Jakarta. The launch that occurred in South Korea was because of swaying away from the local tastes. Another reason why Wal-Mart was not successful in South Korea was that the centers that were made were too far from the city and weren't accessible to the people living there. Out of all the countries Wal-Mart has tried its luck in, Germany gave the most loss. According the LebensmittelZeitung, which is a German publication there, there have been that only four of the ninety two stores had a loss of a total of thirty two million dollars on a sale of $404 million. According to Wal-Mart, the loss was due to problems with the destruction system, problems with adapting to the logistic systems and to the variety there and to the hiring of employees in the store.

Similar problems are now being faced by Wal-Mart by China as well. However, to ease the tension, the Chinese government has stated that it would cut down the laws a notch to make it easier to open stores there. Seeing how the competition in China is fierce, Wal-Mart won't only do well by having discounts. The company must make its mark by the quality and the variety of products it has to offer. The people in China will not shy away from a non-Chinese retailer. This has been exampled by Metro doing very well. Better designs and better goofs will provide for the customers the new edge of style that they need.

Apart from China, Japan is also present with a lot of hopes for Wal-Mart. The company is slowly getting itself in form and in practice there. In 2003, the 400 unit chain lost a total of 65 million dollars there. However, the new strategies that Wal-Mart has, the company might make a u-turn when it comes to performance in Japan.

Last but not the least, Wal-Mart's performance in Mexico is yet another prospect for the big giant. This operation was initiated with Cifera, a local retailer in the country. However, Wal-Mart… [END OF PREVIEW]

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Wal-Mart Is the Name.  (2013, January 6).  Retrieved June 26, 2019, from https://www.essaytown.com/subjects/paper/wal-mart-name/5382778

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"Wal-Mart Is the Name."  6 January 2013.  Web.  26 June 2019. <https://www.essaytown.com/subjects/paper/wal-mart-name/5382778>.

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"Wal-Mart Is the Name."  Essaytown.com.  January 6, 2013.  Accessed June 26, 2019.
https://www.essaytown.com/subjects/paper/wal-mart-name/5382778.