In terms of the number of employees and revenue, Walmart Inc. is one of the largest retailers in the world.
The company was established in 1962 in Arkansas and currently operates more than ten thousand stores in twenty-four different countries. Walmart has developed its retail business based on strong financial strategies and a clearly defined mission.
The mission statement and vision statement of Walmart has helped the company to build a competitive advantage in the marketplace. While the company’s product line and services have evolved over the years, the mission statement and vision remain unchanged.
So, let’s take a closer look at the company in my in-depth Walmart Mission and Vision Statement Analysis.
Mission Statement
The main mission statement of Walmart is ‘to save people money so they can live better.’ This mission statement is strongly connected to the Walmart brand and its customer base. There are also a few key elements that relate to the mission statement and are directly influenced by it.
Improving people’s lives
The first part of the mission statement highlights the company’s primary objective. It shows that Walmart recognizes the needs of customers and is committed to satisfying them. It highlights the steps that the company takes to do this and what customers can expect when they shop there.
Walmart regularly conducts customer satisfaction surveys to help them meet their mission statement. These surveys identify areas that could be improved as well as elements that are working well. The company’s saving center reflects the fact that Walmart is constantly meeting this need.
Financial liberation
This element is a direct result of the main part of the mission statement. It focuses on helping customers to gain financial freedom through an increase in their saving capacity. This is an important strategy to allow customers to get more enjoyment from their shopping experience.
Exceeding expectations
Walmart has announced that it is committed to going the extra mile to meet and even exceed customer expectations. It does this by offering a wide range of products and services for customers to choose from. These products and services have helped Walmart to gain and maintain a prominent place in the retail market.
Company reputation
Walmart has enjoyed a strong positive reputation since its establishment in 1962. This success is mainly attributed to the company’s dynamic mission and vision statements. Walmart has also gained a positive reputation for its commitment to low prices and community service.
Vision Statement
The company’s vision statement is ‘Be the destination for customers to save money, no matter how they want to shop.’ This vision statement reflects the company’s reasons for becoming a leader in the retail industry. It shows that Walmart understands the main needs of customers and is committed to meeting them.
When Walmart releases new products and services, they are always in line with the vision statement. There are three main components of the vision statement that can be explored in more detail.
Affordability
This concept is clearly seen in the pricing of different products and services. Walmart offers low prices on a wide range of popular products. The company also offers its own range of reasonably priced products and services.
Convenience
This is a key deciding factor when establishing new Walmart stores. They are located in areas that are widely accessible to a large number of people within a community. The stores are usually connected to major transportation networks and feature large parking areas. The company also offers in-store products and services that meet the needs of convenience.
Customer-oriented
All services and products are tailored to meet the needs and preferences of Walmart customers. The company conducts detailed research to discover what customers want and expect from their stores.
Core Values
The core values of Walmart are customer first, frontline focused, innovative and agile, listening, inclusive, high performance, accountability, honesty, and fairness. All Walmart employees are expected to understand these values and follow them in everything they do. These core values help to guide employees in their work and directly influence the company culture.
The customer-first and frontline-focused values highlight the importance of the customer in every aspect of Walmart. This is also reflected in the innovative and agile core value. It shows that the company aims to adapt its services to the needs of the customer and constantly upgrade them.
Treat customers fairly…
The other core values highlight the fact that Walmart is committed to providing transparent products and services. Customers can expect to be treated fairly and respected. These core values translate to a feeling of importance and respect in the psyche of Walmart customers.
The Walmart Values
The work ethic and values of Walmart help to set the company apart from its competitors. The main company values can be seen as service to the customer, respect for the individual, striving for excellence, and acting with integrity. So let’s take a closer look at these values to discover how they are utilized by Walmart.
Service to the customer
All Walmart employees are trained to put this value at the forefront of their actions. It essentially means that the customers are the most important people in any Walmart store. Like any company, Walmart relies on the money from customers to operate and make a profit.
To gain new customers and earn customer loyalty, Walmart aims to satisfy their needs quickly and in the best way possible. This includes helping customers find the products they want, providing information about products, and delivering a first-rate service. Walmart employees are expected to be polite and helpful at all times to observe this commitment to customers.
Respect for the individual
This value relates to respecting both shoppers and company employees. The message that employees must respect each other at all times is constantly reinforced. This includes respecting the boundaries of other employees and customers and treating them with basic courtesy.
Striving for excellence
This value has helped Walmart to thrive and meet the high demands of shoppers over the last six decades. It highlights the fact that the company searches for ways to provide customers with the best possible products and services. Walmart employees are also expected to embrace this value during their work and always go the extra mile for customers.
Acting with integrity
This final value is expected to be reflected by each Walmart employee. Employees of all types are expected to act with integrity at all times. This helps to ensure honest communication and actions that help to reduce conflict in the workplace.
Is Walmart Living Up To Its Mission Statement?
The main slogan of Walmart is ‘Always low prices.’ The company offers a wide range of products and services at very affordable prices. In many cases, certain products are cheaper at Walmart than anywhere else in North America.
Walmart provides a wide range of essential products at affordable prices and all under one roof. Not only does this save customers money on everyday items, but it also saves them time. Customers can find everything from food to prescription drugs, to clothing all in a single store. In terms of saving customers money, Walmart can be seen to be living up to its mission statement.
Custo
The second part of the companies mission statement relates to helping people live better. The savings that customers make can boost their quality of life. The company’s community project also helps to improve the quality of life in a range of different ways.
Walmart also helps improve the quality of life of its more than two million employees. In addition to a competitive salary, employees receive regular pay raises and bonuses. Other benefits include flexible work schedules and both maternity and paternity leave.
All Things Walmart And More!
Let’s start with our awesome opportunities to work at Walmart with our Walmart Application and Walmart Interview Questions, as well as our Walmart Stocker Job Description if you’re interested in the position, and our Walmart Cashier Interview Questions. We do also have our Does Walmart Hire Felons if you have a criminal record.
Next, we found some unusual books on Walmart, to say the least, but they will definitely make for interesting reads! So, check out the Hola Papi: How to Come Out in a Walmart Parking Lot and Other Life Lessons, the How to Not Have Your Car Explode in a Walmart Parking Lot: A Car Care Pocket-Guide, and the To Serve God and Wal-Mart: The Making of Christian Free Enterprise.
Of course, it’s not all peculiar; I also found these economically insightful books such as The People’s Republic of Walmart: How the World’s Biggest Corporations are Laying the Foundation for Socialism, as well as The Wal-Mart Effect: How the World’s Most Powerful Company Really Works–and How It’s Transforming the American Economy all available online in 2023.
Lastly, I have to mention the darkly comical book called The Walmart Book of the Dead, which I found to be quite intriguing but maybe not for everyone!
Final Thoughts
It is clear that Walmart is constantly improving and expanding in its strategies to offer the best possible customer experience. Walmart attracts new customers through the company’s core values and mission statement.
The concise and appealing Walmart vision transforms new customers into loyal members of the company’s family. Walmart’s commitment to serving and helping the community has helped the company maintain consistent stock in the market.
The company’s community projects gain Walmart positive press that permeates into the psyche of current and potential customers. This has helped Walmart to open global branches and realize its vision in communities around the world.
All the very best upholding the Walmart Mission and Vision!
