Sample Assessments

There are four main functions of management that are planning, organizing, leading, and controlling. These four main functions of management when applied properly can solve many problems and it may lead to firm’s success and competes better than the competitors. These functions originate in a variety of business surroundings to generate maximum outputs and efficiency. There are many factors that may impact these four functions of management in one or another way, therefore it requires cautious consideration when company is planning and working to achieve the targets and mission. There are several factors that may cause hindrance as well as serve as a method of sensation. The factors include globalization, expertise in addition to sound knowledge, and modernization along with novelty, diversity, values and morals.  In this report we take a glance on the factors that are adopted by Wal-Mart, which is a well known and leading super store that is running a huge business.  Wal-Mart is a corporation that has always presented the illustration that meets customer satisfaction. The company been able to grow in times when most companies were facing hardships, consequently globalization, e-business, and moral principles plays a very crucial role in the success of the company.

Globalization as well as the innovation help in competing better in the market place and give evidence of distinctness from others that are working in the retail market. During the last few years many innovations and changes have been seen in the retail business. The term retailing refers to the transaction of goods or commodities in little quantities directly to consumers or clients. Therefore, retailing is the final procedure of dividing and distributing goods and it acts as a connection between the mass manufacturer of products and ultimate customer who will use that product. Wal-Mart has rapidly become the world’s largest company because of shopping convenience and little charges. Conversely there is a collision between different individuals regarding Wal-Mart current standing positions. The supporters of the company give a reason behind their success is they have the current know-how of market place and are aware of customer needs therefore they make cost effective market decisions. The other side of the company defends Wal-Mart and says company is successful because of their lower prices that are within the reach of an ordinary person. Wal-Mart keeps an eye on the huge retail business through liberalization, privatization and globalization; prospective achievers all over the world are jumping on the occasion for trade and industry. Technology that comprises the current machinery is immense aspect in today’s business scenario. That’s the reason Wal-Mart make every effort for making the use of all relevant data and information for the procedures and functions all over the globe.  In today’s world organization must take into account a wide variety of factors to institute a valuable organization sketch. Wal-Mart Stores, Inc. is the world’s largest company and number one retailer, with this success a company these large needs to not only to look internally for solutions to their management objectives, they must also look outside of their business for additional resources. When organization determined to join together the scheme, there must be proper planning and thought put into practice. Management created objectives and then set action plans to carry out the desired overall goal. Wal-Mart Stores has accomplished this through a highly sophisticated inventory tracking system that enables the stores, including the Internet, to have in stock exactly what the consumers are looking for. The beginning of a foreign market their running plan should take in the set of laws and regulations of doing business in a overseas nation along with the design of their tracking and recognition system, called Radio Frequency Identification (RFID), Wal-Mart Stores has exercised control over their whole stock that helps the workforce to recognize and place commodities more enthusiastically for the customers.  

On one occasion the intention was recognized and position was selected then the administration required creating an organizational plan that reveals the inhabitants in charge of the execution. The management recognizes the need of generating job duties and tasks moreover initiate the organizational progress of the central position. E-Commerce makes easier buy on behalf of consumers; Wal-Mart also developed a web site that permits convenience to acquire nearly every item in the store by just clicking on the Internet. Finally, when the formal team was well known, afterwards the management would be accountable and answerable to follow the right way. According to well known CIO Linda Dillman (2005) various superior projects were broken into minor ones. It is obvious that to continue the whole team in a right direction the adequate amount of knowledge as well as higher level of inspiration is required. It’s also an essential responsibility of organization to keep an eye on team members by scheming and controlling procedures and dealings in the production process. While implementing this type of method, there is going to be many modifications along the way. Wal-Mart Stores activates and functions concession stores, super stores, district area marketplace along with Sam’s Club places in United States. The corporation works through out the world like in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom. The boss of Wal-Mart Sam Walton has a novel visualization and he initiated his own business and made it number one in the market place. The Wal-Mart keeps on spending time as well as energy in transformation and novelty. In the past there were less stores therefore the target is to increase the efficiency as well as effectiveness. Therefore, the company is furnishing all the latest stores by means of LED lights as well as innovate many accessible stores that comprises of saving energy by using latest machinery and equipments. Furthermore, Wal-Mart is inaugurating its solar panels lying on numerous outlets inside California and Hawaii that can offer up to thirty percent of the power in favor of those stores. Mal-Mart has faced a considerable quantity of disagreement regarding numerous problems but the workforce is so hard work that it manages every aspect in a considerable way.  The future seems to be very brilliant in support of Wal-Mart, principally there needs to maintain equilibrium among escalating its earnings and be familiar with the public and moral errands. Wal-Mart plans that the stores must be equipped with energy saving components so that cost is reduced and their task is to transform untreated or natural household harmful wastes along with oil-based waste that facilitate the proportions to hold correct. Wal-Mart systemizes their stores inventories by the help of forklifts for filling their shelf in the stock room. The company never relies on obsolete machinery but instead uses substitute battery so that if one of the batteries is not working properly or left uncharged there must be another alternative too and stays longer and give more energy. The uniqueness of Wal-Mart is the modern scrutinizing systems in their warehouses as well as leading superstores and they use elegant cell phones which depicts the aspect of innovation and leadership. These phones are helpful and every one is only at a distance of a call.  Then the other function of management is controlling of Wal-Mart and here also the organization makes use of modern applications that makes them easy to view the working systems in-stores as well as the computers that are setup in the stockrooms. The store room facilitated the checks and balancing concerning the available stocks as well as controls the inward goods and making possible to continue extensiveness. Wal-Mart is flourishing as it makes healthy strategic management verdict, but also for its inventive accomplishment of the strategic decisions. The greatest strength of Wal-Mart is a powerful retail brand and it has a reputation for money, convenience and a wide range of products that all are available under one roof. The weaknesses related to Wal-Mart is that its the world’s leading grocery trader and manage the domain, regardless of its IT advantages, sometimes may put down in some areas because of the huge span of control. If we talk about the opportunities Wal-Mart capture, cooperate or structure strategic alliances by means of other global retailers by targeting only restricted markets. The major threat that may cause hindrance to Wal-Mart is being number one means that many competitors keep an eye on you and they are targeting you, locally as well as globally.

The concept of diversity encompasses recognition and admiration. It means understanding that each person is exclusive and be familiar with our personality distinctions. Diversity has been converted into a well known and incredible occasion on behalf of corporations around the world. Some corporations serve as a benchmark to other business because they apply innovative thinking abilities, using more than one viewpoint at a time along with strong imagination. Therefore, Wal-Mart serves as a head that encourages diversity plan in the same way as internal or external factors along with it also has some considerations on management functions as well.  It’s a very good idea to diversify or broaden your horizons, therefore in 2006, the company decided to boost up the diversity inside the company and the management committee therefore its decided in the early planning stage of management function and Wal-Marts higher Management shaped a team that comprised a board of outside skilled and proficient people to give suggestions to top executives to advance or promote the workforce diversity (Kabel, 2006). This team was designed to seek advice from Wal-Marts higher management on diversity issues and the measures that can be adapted to promote or enhance workforce diversity.  This leads towards an improved diversity in 2006, and it was observed that what the areas that were actually lacking in diversity, in this way they managed their resources and furthermore the record was improved. The reason behind enhanced diversity is actually making proper use of ideas and viewpoints along with a person being very receptive and responsive to the diverse working surroundings, instead it doesn’t mean to hire a wide variety of people from different cultures. Wal-Mart must express as well as delegate to its managers to enhance various hiring events. This huge retail business guarantees its assortment as an organization setting up some performance standards and schemes regarding providing equal opportunity and viewing company’s data of diversity and ensures conformity.

These days’ organizations are focusing more on their morals as well as code of conduct in the work environments. Infect it sometimes creates harms to employees as the recent case enlightens the importance of ethics. Chalace Epley Lowry acted on the assistance to account a movement that gives the impression that was doubtful and it was a few months when training sessions were conducted in which the importance of ethics was highlighted.  Lowry informed the company’s ethics department regarding what she contemplates might be a case of insider trading by her superiors, Mona Williams, vice-president of corporate communications. The corporation resolute that Williams had made nothing immoral, but Lowry’s character was well-known to Williams, leading Lowry to bring to an end and she possibly will no longer work in that particular department.  Wal-Mart demonstrates deprived management by permitting Chalace Epley Lowry’s personality to be acknowledged. Wal-Mart by means of organizational planning and controlling decided to inaugurate a global ethics office in 2004. So, Wal-Mart has one of the strictest and strongest ethics codes in the industry. Therefore, it served as an example and Wal-Mart persuades their acquaintances to work with honesty, truthfulness in everyday transactions to keep away from acts of breach or destructions in business standards or principles. Therefore, it is observed that when management makes use of the four functions, he may be in command of the factors or variables surrounded by the business.

References

Gogoi, P. (June 25, 2007). The Trouble With Business Ethics. Business Week Online, p. 29. Retrieved from ebscohost.

http://walmartstores.com/FactsNews/NewsRoom/8002.aspx

Kabel, M. (2006). Wal-Mart Stores creates diversity panel . Retrieved from Wake up Wal-Mart: http://www.wakeupwalmart.com/news/20060424-ap3.html

Wal-Mart CIO Describes How the Retailer Implements IT Programs.  (May 26, 2005). eWeek, p.NA. Retrieved from Gale PowerSearch. http://www.oppapers.com/essays/Why-Wal-Mart-So-Successful