strategy and culture of a business. Of course, it’s not always the case that stated vision ; values are consistent with the way a company does business. However, for many successful businesses there is a clear and sustained link between the two.
Company Name: – Walmart
i. Walmart’s Vision Statement.
The company traces its success to the ideals of its founder, Sam Walton. These ideals are emphasized in Walmart’s vision statement: “To be the best retailer in the hearts and minds of consumers and employees.” The company aims to achieve a top position in the retail industry. Based on its current situation, the firm has already fulfilled the “best retailer” part of the vision. Walmart’s vision statement also points to the minds and hearts of the people that matter most to the business, i.e. consumers and employees. The company has realistically influenced the minds of consumers and employees on the basis of financial benefits. Employees earn wages, while consumers save money through Walmart’s low prices. However, the “heart” component of the vision statement remains to be proven.
ii. Walmart’s Mission Statement.
The company’s strategic decisions are also a direct manifestation of its mission. Walmart’s mission statement is “Saving people money so they can live better.” This statement is synonymous to the company’s slogan, “Save money. Live better.” The firm follows and succeeds in fulfilling the “saving people money” component of the mission statement. Consumers save money through Walmart’s low selling prices. However, it is not yet clear if the company satisfies the “live better” component of the mission statement. There are criticisms on Walmart’s very low wages that are barely enough for employees to make ends meet. There are also criticisms about the long-term effects of the firm’s continued large-scale sales of cheap and sometimes hazardous imported goods.
? Service to the Customer
Customer First – Listen to, anticipate and serve customer wants and needs
Frontline Focused – Support and empower associates to serve customer everyday
Innovative and Agile – Be creative, take smart risks and move with speed
? Respect for the Individual
Listen – Be visible and available; collaborate with others and be open to feedback
Lead by Example – Be humble, teach and trust others to do their jobs; give honest and direct feedback
Inclusive – Seek and embrace differences in people, ideas, and experiences
? Strive for Excellence
High performance – Set and achieve aggressive goals
Accountable – Take ownership, celebrate successes and be responsible for results
Strategic – Make clear choices, anticipate changing conditions and plan for the future
? Act with Integrity
Honest – Tell the truth, keep your promises and be trustworthy
Fair – Do right by others; be open and transparent
Courageous – Speak up, ask for help, make tough calls and say no when appropriate
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Hicks, M. J., Keil, S. R., & Spector, L. C. (2012).