Management Theory, Practice and Application (MGT/230)
August 26, 2013
One function of management that any company must focus on is being organized. Wal-Mart is one company that comes to mind when I think of a large corporation that organized. The management function within a corporation such as Wal-Mart is normally one that not only has responsibility, produces unlimited effort as well as carries the authority given. When the company is able to run successfully without issues arising, there is no doubt that the company is well organized. Somewhere along the line if there was a problem to arise they are well organized and prepared to handle any issues ...view middle of the document...
Wal-Mart is known for their everyday low prices, this keeps customers coming back to spend money. Wal-Mart is good at managing its physical assets, which prevents them from spending unnecessary money which in turn increases their profit. This is a dominant characteristic which helps reduce competition.
Unlike any other corporation there will always be someone you are competing with, just like Wal-Mart. Because Wal-Mart offers everyday low prices the company is at an advantage due to them being able to still bring in such a great profit. This does not mean they do not battle with competitors they are able to outdo competition by offering everyday low prices to their shoppers. Wal-Mart has monopolized the retail market with their organizational plan.
Wal-Mart is influenced by pressures such as competition, cost of insurance, trends of the market, economics goods as well as unemployment (Wal-Mart Corporate, 2013). When dealing with the foreign exchange rates Wal-Mart must be careful because it could become an issue when it comes to the monetary and financial resources (Wal-Mart Corporate, 2013).
In 2009 the foreign exchange rates had a bad effect among the international sales by 2.3 billion; although there was a negative effect due to the foreign exchange there was still a small increase (Wal-Mart Corporate, 2013). Wal-Mart does have employee incentives such as employee stock, 401K benefits, retirement plans, paid vacation time as well as an employee discount program (Wal-Mart Corporate, 2013).Wal-Mart has no problem managing their monetary assets, this keeps Wal-Mart in the number one spot among other retailers.
Human resource management is responsible for the recruitment, training, evaluations, earnings, as well as benefits ( Bateman & Snell, 2009).When it comes to the organization function it is very important that you have properly managed and are holding up to the effectiveness of the human resource department. The reading states people are assets not commodities ( Bateman & Snell, 2009). Wal-Mart employs over 2.1 million associates, there can be anywhere up to 350 associates in each retail location at one time (Wal-Mart Corporate, 2013). Sam Walton stood behind three basic beliefs which were respect for individuals, service to our customers, and striving for excellence (Wal-Mart Corporate, 2013). Wal-Mart employees are to practice these beliefs while employed with Wal-Mart.
Sam Walton believed in working as a team he referred to this is where the leaders work together with their staff. He was also a believer in an...