Walmart is the go-to supermarket for the people of the United States of America. It was founded back in 1962 by Sam Walton. Since then, it has continued to provide its customers with all the supplies necessary for their survival. Today we will be looking at their mission and values to get a gist of what the company is and what basis it undertakes tasks.
Its mission statement is “helping people worldwide save money and live better – anytime and anywhere – in retail stores and through e-commerce.” Walmart’s mission statement is a significant motivational factor for not only its employees but also the consumers. It reminds them that this company can always be trusted and relied upon during times of hardship, which got proven during the pandemic. This statement demonstrates it can operate during hard times and serve in all aspects of business and provide people with essentials.
Walmart’s vision statement is “to make every day easier for busy families.” This is easily the most straightforward marketing strategy since most American citizens are working individuals and save time on food and groceries. Walmart’s convenience is very convenient for most citizens and can save thousands of dollars by providing options for budget shopping.
Working individuals do not get time to go to grocery markets or individually visit markets to get discounted food items. This problem is solved through Walmart as it offers groceries, curated meats, and everything required to run a house for a busy individual in one spot. Convenience is the sole reason for people to visit continually, even to buy the smallest of things.
Walmart values advise its employees to work harder and provide the consumers with their needs to develop an environment where work is done quickly and in good spirits. Their values are –“Service to the Customer, Respect for the Individual, Strive for Excellence and Act with Integrity.” These values have helped them conserve themselves firing hard times, and due to being respectful to the customers, they have carved an image of themselves that is unique and suited to only themselves. The basics have helped them guide themselves to a level where they trust their judgment and trust their products.
We will be analyzing all of these statements together to get a detailed view of how most of these elements help them maintain sight of their goals and how they allowed them to achieve the level of goodwill and stature they have today.
Walmart’s Mission Statement Analysis:
Walmart is one of the best companies for upholding rules and following the basics of providing customers with their daily needs. Its mission statement is proof of that. It reads, “helping people worldwide save money and live better – anytime and anywhere – in retail stores and through e-commerce.” It is the most straightforward statement and can be analyzed easily.
There are four distinct elements we need to analyze to get the meaning of the mission statement.
- Helping people worldwide
- Save money and live better.
- Anytime and anywhere
- In retail stores and through e-commerce
- The first element is Walmart’s universal goal, which is to help as many people as it can by providing goods to them at a lesser price compared to other companies or supermarkets. This goal is ever-increasing, and Walmart is expanding dramatically by opening subsidiaries everywhere. They have opened new retail stores in the United States of America and countries like Africa, Canada, China, Japan, Mexico, and India. Their popularity and reliance have led to an increase in their output of the business.
- Saving money is an integral part of every working citizen as it helps them budget better and keeps in case of future emergencies. People don’t like to spend extra on groceries, and Walmart’s discounted prices and excellent quality help them get their requirements completed without additional spending. The excellent quality of groceries, lifestyle equipment, and household items provided by this company helps people save money and live better lives. The convenience offered by Walmart changes their daily life by making it easier to prioritize budget shopping and encourages the habit of saving.
- Walmart’s expanding horizons have made it possible for Americans to find whatever they need just around their houses or just a little distance away. Getting groceries and livelihood accessories from just a single spot is very convenient as it saves time for working individuals. This statement’s element explains this company’s expansion to provide convenience to buyers worldwide by being there anywhere and anytime they visit.
- The last element lets us know about this company’s plan of expanding throughout the world, not only through retail stores but the evolving and currently in trend E-commerce practices. They have set up online markets to buy accessories to help their goodwill and accelerate their expansion plan. Their retail stores have quick access and are easy to navigate due to friendly staff services, and everything is organized to save time for busy individuals.
Walmart’s Vision Statement Analysis:
Walmart’s vision statement is comparatively smaller considering many other big fortune companies, but it delivers the message loud and clear. There is the whole statement to analyze as there is no separation of meanings considering the meaning. Its vision statement is “to make every day easier for busy families.” This statement will help us understand what their motive is behind serving people. This vision statement has only one element to analyze. They aim to make the daily lives of working individuals easier through their methods of providing everything needed to function or bare necessities at one particular location, which helps you save time and money instead of visiting multiple stores to buy different tools.
They are one of the best supermarkets because their selection of companies and deals with brands allows them to be versatile in their quality and consistent with their attitude to treat employees and customers alike. They have been a trusted source of everyday items for people since their launch. They have aimed to widen their eyes towards serving even more people by crossing borders and establishing themselves in other countries. Their other objective in the vision is to help busy families. Everyone has responsibilities in the household to carry some weight so that a single person does not bear the whole house’s fortitude. By providing assistance in food, clothing, and other essentials in one spot and discounting the products, they help busy and working individuals save time to invest in other creative tasks.
Their expansion in every area helps people be active and seek out things to support their family function better. It encourages kids to help go grocery shopping for their parents without putting added pressure and increasing their stress. It also increases the responsibility of parents and helps the kids mature. It gives the parents the time to rest while also allowing them to experience the real world and meet new people through their ventures of just going out of the house. This Walmart strategy benefits working families and helps people find quality products under a singles roof.
Walmart Values Analysis:
Walmart’s values and work ethic set them apart from all the other supermarket companies and retail stores worldwide. Their values are recorded as “Service to the Customer, Respect for the Individual, Strive for Excellence and Act with Integrity.”
There are four elements we need to analyze in these states, and those are:
- Service to the customer
- Respect for the individual
- Strive for excellence
- Act with integrity
- Service to the customer is the foremost thing the employees of any organization are taught to follow. The customer is king. Due to their hard-earned money, organizations function correctly. If one hopes to return customers and be sought out by new customers, one must provide quick, convenient, and appropriately satisfies their requirement. Helping the customers search for products, providing them with adequate information about each accessory, suggesting alternatives, being polite and understanding, and being humble are the core responsibilities of a Walmart employee.
- Respect for the individual means being respectful to not only the employees but also the customers as well. It promotes the message of having respect for every working individual inside the premises. It allows them to stay sharp and be attentive to their customers by displaying qualities such as being vigilant and prudent towards their needs. Being respectful towards every individual is the basic courtesy of not only employees but also every human being. If we are obedient to people’s boundaries and their situation, then every horrible incident can be resolved within minutes.
- Striving for excellence is what every organization does throughout its life cycle. The organization needs to have good communication patterns, respect towards individuals, and friendliness of the employees to work to the best of their abilities. Being perfect is a far-fetched idea but helping the customers to the best of their skills and searching for alternatives is the foremost responsibility of their employees.
- Acting with integrity is a responsibility that every employee must strive to achieve in this company. Walmart has stated that being courageous, speaking up, and being honest should be the appropriate steps to act with its integrity. This allows both the employees and the consumers to quickly and efficiently solve queries since there is no mishap or a loss of communication between the two parties if they both are respectful towards each other.
The Takeaway:
This article’s takeaway is that Walmart is continually improving and expanding in its tactics to treat its customers in the best way possible. They attract customers through their core values and then make them a permanent addition to their family through their vision. Their mission is ever increasing as they are one of the best companies that can be whatever they want to be, as they have room to add innovation. They have pleased their investors as they have been the most consistent stock in the market for the past five years, and they will continue to profit their customers and business people looking to profit through their investment. Their expansion to other countries has allowed them to attract all parties concerned, and their media presence adds to their element of satisfying customers. They have been mentioned in tabloids countless times due to their vital fact and tenacity to serve customers and bring in more business to their doors. This ability to maintain the right media image increase the trust factor for the customers and investors alike, allowing them to grow further and expand to new horizons while still sticking to their roots through their vision and mission statements. They had their values to in spite their employees to do better.
FAQs
- Why is Walmart so successful? The reason that the company is successful is because of their dedication to their job. Since their establishment, they have also stuck to their roots, which has become a driving factor for customer satisfaction. Their values and vision had allowed them to surpass other companies and be a successful endeavor regarding retail.
- Is Walmart stock expected to go up? Yes, Walmart stock is expected to go up due to many people investing in it due to the pandemic. The estimates offered by forecasters estimate an increase by 13 percent. This has led to an upwards increase in Walmart’s investing options and caused quite a stir in the financial market.
- Is Walmart a fortune one company? Yes, this company has claimed the top spot many times in the Fortune 500 list, and it has consistently stayed there. More than half of the time has claimed the no.1 spot due to the employees’ commitment and the consumers’ love towards the company. This has allowed them to climb through the ranks and make their names well known in the United States and worldwide, where they sell through E-Commerce.
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