Walmart and the Elements of Business - 1486 Words

Walmart and the Elements of Its Business Molly Taylor American Intercontinental University Walmart and the Elements of Its Business The history of Walmart is quite interesting and goes all the way back to the 1960’s. Walmart was started by a man named Sam Walton and his brother. Mr. Walton had a degree in economics and used this degree to secure a management trainee position at JC Penny’s. With his degree and experience he gained working at JC Penny’s he, along with his brother, opened a Ben Franklin store. By the late 50’s they owned 9 Ben Franklin franchises. Mr. Walton and his brother had a vision to bring large retail stores with low, low prices to small towns. They took this idea to Ben Franklin franchise owners†¦show more content†¦It has been said in the recent past that Walmart says they treat their employees well but there have been cases recently where this was found not to be true unfortunately. Treating employees unfairly could have a negative economic impact on the community because if workers aren’t treated fairly then no one wants to work for the company that’s not treating their employees well. Which then has a domino effect because chances are, if that’s the case, then people will begin to bash Walmart driving consumers away to possibly purchase from other retailers. This would not be a positive economic environment at all and the chances of the business failing would be pretty good. To best maintain a thriving legal, social and economical environment Walmart needs to have in place a good management structure and for the most part I think they do. If they didn’t they would not have risen to be one of the largest retailers in the world over the past almost 50 years. They have a company-wide management structure that all stores abide by. This structure includes planning and promotions, goal setting amongst employees, organizing how operations flow on a day to day basis, directing its employees and controlling finances. In order to operate Walmart has to provide services to consumers and make a profit off providing these services. To do that Walmart must constantly stay on top of how the stores are run on a daily basis. To operate a business and beShow MoreRelatedSustainability in Australian Business: Principles and Practice1420 Words   |  6 Pagesin order to capture value from customers in return. (Kotler amp; Armstrong 2012, p. 5) This essay has been prepared to identify and understand the role of sustainabilty in marketing decision making and its impacts affecting current and future business operations. 1.1. Research Methods Data was collected based on qualitative research. Books, internet and online journals were used to identify different roles of sustainability in marketing. 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Academic Lecture Summary and Critique Free Essays

Academic Lecture Summary and Critique In his lecture that he gave on February 2006 in Oxford Sir Ken Robinson states that our school systems should not undermine creativity and it effect in our lives. In fact he believes that it should be as important as all core subject of education such as math and languages. Robinson believes that our children are being â€Å"educated out of their creativity† after having mentioned a few examples of how children are not scared of taking chances or being wrong, but when those children reach adulthood they have lost this amazing capability. We will write a custom essay sample on Academic Lecture Summary and Critique or any similar topic only for you Order Now Due to the fact that they are taught to think and live in a way suited to the corporate world that thinks of mistakes as taboo. It is important to keep in mind that Robinson did not undermine the importance of other subject he simply questioned if they are sufficient to grasp a good place in this unpredictable future. Robinson emphasized on the importance of intelligence in its three aspects â€Å"diversity† â€Å"dynamic† â€Å"distinct† he believes that our educational system should revolve on the development of children’s intelligence to its full potential. In my opinion, I think that sir ken Robinson shed some light on a very important issue in our global society. Even though his lecture didn’t have that academic touch to it, I sure enjoyed how passionately he spoke about the topic. In his own way Robinson, involved the audience in the conversation by posing rhetorical questions and by quoting daily life scenarios. What made his lecture more effective is that he quoted and mentioned people who had a big influence on this world due to their creativity likes of Picasso and Shakespeare. What I enjoyed most in his lecture is the unconventional method he used to highlight his main points in the audiences minds through humor. My only remark was that he did not give any solution. In the end sir ken Robinson finished with a big question that made the audience think he actually challenged the audience to think of a better world. How to cite Academic Lecture Summary and Critique, Essay examples

Reflective Article Analysis Informal Relation

Question: Write about theReflective Article Analysisfor Informal Relation. Answer: By reading the article, I gain a detailed insight of the various informal relation based networks, which are practiced in Korea. The article has illustrated that the popularity of the informal relation based networks in China i.e. Guanxi. However, the popularity of the Korean networks are analysed in details such as Yonjul, Yongo, and Inmaek, etc. It will helps in contributing to the advancement of the various types of knowledge about the influential contextual factor in the Korea. The rapid growth of Korean economy is responsible for the importance of the implications of the management practices in the different companies of Korea. I also learn many practices that the businesses of Korea used in their management. The study is based on the contribution of Yonjul, Yongo and Inmaek (Horak 2014). The practices are decribed in the perspective of international businesses and other norms related to it. I think that the Korean informal relation based networks are equally important like that of the Chinese cultures. References Horak, S., 2014. Antecedents and characteristics of informal relation-based networks in Korea: Yongo, Yonjul and Inmaek.Asia Pacific Business Review,20(1), pp.78-108.