|Name||Wal-Mart Stores Inc.|
|Geographic areas served||Worldwide|
|Current CEO||Mike Duke|
|Revenue||$ 466.950 billion (2012)|
|Profit||$ 15.699 billion (2012)|
|Employees||2.2 million (2012)|
|Main Competitors||Costco Wholesale Corporation, Dollar General Corporation, Dollar Tree, Inc., Kohl's Corporation, Macy's Inc, Sears Holdings Corporation, Target Corporation and many other companies.|
Walmart is a US based multinational retail company that sells general merchandise and groceries. It is the world’s largest retailer, third biggest public company, largest private employer and one of the most valuable companies in the world.
Walmart mission statement 2013
|“We save people money so they can live better”|
|Does it include...?|
|Technology||Concern for survival||Philosophy|
|Self-concept||Concern for public image||Employees|
|Does it mention values like...?||Customer or product-oriented?|
(This evaluation framework is composed of the guidelines listed in our article: Mission Statement for Success)
Walmart’s mission is evaluated 1.2 points out of 4.5, indicating a poorly structured statement. The statement sounds more like a slogan than a true mission. It’s clearly too short and provides only 2 components: customers and self-concept. It lacks other 7 essential components: products and services, markets, technology, concern for survival, philosophy, concern for public image and employees. Therefore, it provides little information as to what is the core purpose of the business and addresses too few stakeholders. This is the primary aim of any mission and Walmart has failed to create a good one. In addition, the company doesn’t provide any values in the statement, but states them separately. Walmart’s values are:
- Service to Our Customers
- Respect for Individual
- Striving for Excellence
These values guide company’s actions and should be included into the mission as well. The statement is customer-oriented, which is a positive factor. Customer-oriented missions focus on how to satisfy customer needs or how to solve their problems, while product-oriented missions focus on what products to sell or services to offer.
In order for Walmart to better use their mission as communication tool the company should provide more information about the business and address more stakeholders.