The Value Profit Chain

A little trivia. Do you know which company made a $20,000 profit every minute in the year 2005? Wal-Mart. There are many other elements, besides low prices, which make Wal-Mart successful. The most important element, I feel, is employee satisfaction. When an employee likes where they work it will show on their face and in their performance on the job. Wal-Mart tries to make sure their employees are taken care of by offering them incentives to create a work environment where employees feel a part of the Wal-Mart family; they offer employees stable employment, variable hours, a family atmosphere, opportunities for personal growth, stock in the business, and the Wal-Mart chant (squiggly included.) While the chant might sound corny, I know it does to me, I’m sure it puts a smile on the faces of the employees, which is what will keep the customer coming back. These staff meetings also give employees a chance to learn about the company and how they operate.

Wal-Mart’s mission statement in the words of Sam Walton, “a wide assortment of good quality merchandise; the lowest possible prices; guaranteed satisfaction with what you buy; friendly, knowledgeable service; convenient hours; free parking; a pleasant shopping experience.” Although Wal-Mart has not always been known for their excellent customer service and clean stores, it seems they are making an effort to try to improve it. Now when you go into the Wal-Mart stores, on the debit/credit card reader, it asks you if the “employee was friendly; Yes or No.” Wal-Mart is also revamping their image by installing wood floors, subways food chains, and "reducing the clutter." This is Wal-Marts effort to compete with Target; which is considered to be a more upscale retail establishment.

http://www.progress.org/2005/tcs179.htm

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