In 1988, Walton left the post of CEO and continued as the chairman of the highest decision making board of the company. After a period of tremendous success, Walton thus began to prepare his potential successors. Walton and Huey have elaborately explained this process of development and consolidation in the book Sam Walton, Made in America: My Story.
Anwar has aptly remarked on the next phase of Wal-Mart’s attacking expansionism. According to Anwar, “Since 1992, Wal-Mart has sought aggressive diversification by acquiring various retailing chains in Mexico, Canada, Germany and the U.K. This change in Wal-Mart’s core competence beyond the U.S. market signifies its future growth and expansion.” (101)
In 2005, as per the observation of Matthew and Mark, the company had sales figures around $ 312.4 billion. It employed 1.6 million workers all over the world. It emerged as the largest corporation in the world and stood apart as a highly developed, diversified, and efficient retailing chain. (15-25)
Of late, Wal-Mart is striving to become an energy efficient company. It is concentrating on renewable energy, waste management, organic products, and power generation. During the recession of 2008-09, Wal-Mart continued to report solid fiscal figures with significant profits and revenue.
Why should Wal-Mart be chosen for the purpose of company analysis? The reason is obvious: It is a great company! First of all, Walton’s struggle and success stories are the ideal ingredients of a legend that depicts how American dream can come true. Apart from the high sales figures and annual turnover of billions of dollars, Wal-Mart has contributed significantly in the realm of corporate social responsibility. During the aftermath of the deadly Hurricane Katrina in the year 2005, Wal-Mart responded rapidly to relieve the affected population. It directed its logistical functionary and ...Show more