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Walmart project summary

Walmart started in 1945 as a retail shop. Sam started it out of the shallow experience he had in retail. In 1950, Walton moved to Bentonville, where he opened 5and 10 shops on the down squire. He took the advantage different hunting season to attain more customers and to ensure that his business grew. With the inspiration he got from his dime stores and driven by the feeling to grow and get greater opportunities and value to customers, he open the Walmart in the 1962 at the age of 44 years (Bosscher, A., Vriesema, A., & Woltjer, 2013). The store were majorly located in Rogers and Arkansas.

Walton argues that idea that a business can only attain its market niche by offering product at lower prices failed and he started looking for other techniques to be enable his business be competitive in the market. In 1970, the business went to public and he started receiving funds from the public the company then started expanding and attracted more and more customers and that fact opens ways to get more associates. Walton only dreamt of giving customer high quality and best experience in shopping. He believed in the idea of keeping customers coming. He later established great relationship with his associates and by doing so and establishing partnership with the associates made Walmart to rise to where it is at the moment.

As the stores grew and gained fame, Walton worked with much vigor and introduced new approaches and technology a fact that brought a new experience in the retail industry (Yue, Rao, & Ingram, 2013). The lower prices that Walmart offered to the customers made it gain more customers when it was established in the US. The business gained an award in 1972 since the CEO upheld great commitment to give the citizen quality services at affordable prices.

Justification

The project is a worthy project to implement. Its unique features, such the use of up to date technology and the lower prices makes it the most outstanding business to start. It is viable since most of the operation is meant to give quality services at affordable prices. It is lower prices and quality can give it an advantage to occupy a permanent niche in the market. A business with customers in the market never fails to establish and continue. Another fact that make the project viable is its ability to get to public. Once a company goes public, the company will get established since capital will no longer become an issue.

If a company has enough capital, it will enjoy many pilferages in the market, first, a company with enough capital is able to give its customers products at lower prices than the than one that has limited capital. The prices can be lowered since by having enough capital the company will be able to enjoy the economies of scale out of the products it will be ordering from the manufacturers (EE, A. S., EE, & Bultema, 2007). The huge discounts that the company will be enjoying out of the balk goods it will be ordering will make it possible for the company to offers goods and services at cheaper prices a fact that will make many customers prefer shopping from it.

Analysis of the outcome

Walmart project has a greatest ability to grow. The ability of the project to get funded from the public and its ability to offer the customers great value and affordable prices gives it an advantage to occupy the greatest market niche. The abilities given above give the project a competitive advantage in the market. A company with higher competitive advantage in the market gives the project managers an assurance that the intended project is viable and worthy to be started. About the ability to attain capital from the public gives the it an advantage to get more capital for the purpose of expansion and to increase the ordering ability a fact that will make the company start enjoying benefits out of the economies of scale a fact that will make the company operate at lower prices as compared to the other companies that offers the same goods and services (Yue, Rao, & Ingram, 2013). If the above aspects will be put in place, then the company will be worthy to be established and it will provide an assurance that it will be strong in the market.

Sources of data

There are two main sources of data for the Walmart project. One, retailer data source. Retailer data source involves data that comes directly from the market. The data is obtained from the daily reports obtained from the retail market. Some business parties that performs the market tasks collects the data and they issue the data to the Walmart Company. The data obtained can be used to forecast on the future demand of the organization. Another source of data will be obtained from the process of syndication. Syndication in this case refers to the process of obtaining data from the social platform such as blogs. The online hosted blogs gives customers opportunities to give suggestion a given product. The data given the blogs and other social platforms gives the company with enough information that they can use for the purpose of market managing and forecasting.

Timeline

1. Generation of business idea

A. The process of creation of business idea starts with a simple but extensive analysis of the available business. The idea should be established after an extensive scanning of the available market and using expert advice to identify the business niche.

B. The business idea should be achieved after an extensive and intensive presentation of a list of business ideas

C. The ideas should be analyzed and the best idea be established.

2. Collection of data

A. Using the different data collection methods, data relevant to the intended business will be collected.

B. The collected data will be stored in special computers with special software that promote decision making

C. Data obtained is analyzed and report generated is used in the final decision making.

3. Collection of relevant resources

A. After the decision is made, the resources relevant for the development of the business are assembled and coordinated to ensure that they achieve the intended project. Management is elected and put in place for the purpose of managing the whole process.

4. Implementation of the Business idea

A. The business idea should strategically implement its intended project. The implementation of the project should be simple and step-by-step. The project implementation should be simple but detailed

B. Data should be collected from each step of project establishment. The data obtained can be used for future improving of the project

References

Yue, L. Q., Rao, H., & Ingram, P. (2013). Information Spillovers from Protests against Corporations A Tale of Walmart and Target. Administrative Science Quarterly, 58(4), 669-701.

EE, A. S., EE, C. M., & Bultema, B. (2007). PROJECT PROPOSAL AND FEASIBILITY STUDY.

Bosscher, A., Vriesema, A., & Woltjer, L. (2013). Project Proposal and Feasibility Study Team 12: Iron Man.