When Walmart first opened its doors in 1962, it swore to make a difference in the lives of its customers by helping communities to save money which will allow them to live a better life. At first glance, this seems like a good mission statement, but at what cost?
Over the years, Walmart has seen a $10 billion revenue increase, and that only seems to grow year by year, even with boycotting movements against the major store chain. There have been concerns that staff isn’t paid enough and that employees’ schedules are manipulated so that they don’t meet the requirements to qualify for benefits.
If all of this is an issue, what is it that we’re failing to see within Walmart’s mission statement? There must be a reason why their revenue keeps increasing despite the many complaints. Therefore, we’ll take a closer look at Walmart’s Mission Statement.
Equality Of Customers And Employees
Walmart’s mission statement puts the focus on customers, and by default, one would assume that they don’t care about their employees. However, this isn’t necessarily the case as they are able to focus on both. In fact, the founder, Sam Walton, believes that it’s the employees who keep bringing the customers back.
Analyzing The Four Elements
To understand Walmart’s Mission Statement, there are four elements that we need to analyze, which are:
- Anytime, anywhere
- Save money and live better
- In retail stores and throughout e-commerce
- Helping people worldwide
Let’s break these down further to understand the mission statement.
When you shop at Walmart for groceries or other products, you can expect that each Walmart across the country has almost the same thing. Of course, this will differ with localized goods depending on what that particular Walmart wants to stock their shelves with.
Regardless, one can expect to come to Walmart and have access to the same things, anytime, anywhere, around the world. This gives a sense of stability, which people love and keeps them coming back for more.
Save Money And Live Better
Having opportunities to save money is preferred by every working-class citizen. Walmart keeps its products and groceries at a discounted price without risking the quality. This also helps encourage people to form better budgeting habits and put their extra money into savings.
In Retail Stores And Throughout E-Commerce
Since Walmart’s plan is to expand globally, they’ve initiated e-commerce purchasing as a way to reach all corners of the world. The online market is where the funds come from to help pay for their Goodwill and employee training programs.
They also have 4,743 retail shops, which are easy to navigate, that are staffed with friendly and knowledgeable employees who do their best to help the customers.
Helping People Worldwide
Finally, Walmart’s universal goal is to help people worldwide by assisting them so that they have access to lower-priced goods. They’ve been able to open stores in India, Japan, Mexico, China, Africa, Canada, and of course, the United States. They plan to continue to increase and expand their retail shops and their job education training program and Goodwill stores.