Table of ContentsBackgroundLow Price and High ValueRespect for IndividualCustomer ServiceToward ExcellenceAct with IntegrityConclusionWalmart, the world's largest retailer, has a unique business philosophy that has helped the company to achieve remarkable success. This essay will explore Walmart's business philosophy and its impact on the company's operations and performance. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essayBackgroundWalmart was founded by Sam Walton in 1962 with the goal of providing customers with low prices and great value. The company has since grown into a global powerhouse, with operations in more than 25 countries and a workforce of more than 2.2 million employees. Walmart's business philosophy is centered on four key principles: respect for the individual, serving the customer, striving for excellence and acting with integrity. Low Prices and Great Value One of the cornerstones of Walmart's business philosophy is its commitment to providing low prices and high value products for its customers. The company achieves this through its efficient supply chain management, bulk purchasing power and constant focus on cost control. According to a Forbes report, Walmart's low-price strategy has allowed it to capture a significant share of the retail market, with more than 265 million customers visiting its stores every week. Respect for the Individual Walmart's business philosophy emphasizes the importance of respect for the individual, both within the company and in the broader community. The company has been recognized for its commitment to diversity and inclusion, with initiatives to promote equal opportunities for all employees. Additionally, Walmart has a strong track record of supporting local communities through charitable donations, disaster relief efforts and environmental sustainability programs. Customer Service Another key aspect of Walmart's business philosophy is its constant focus on serving the customer. The company has invested heavily in technology and e-commerce to provide its customers with a seamless shopping experience, both in-store and online. According to a Kantar study, Walmart's customer satisfaction ratings have consistently outperformed its competitors, highlighting the effectiveness of its customer service initiatives. Striving for Excellence Walmart's commitment to excellence is evident in its continued efforts to improve its operations and offerings. The company has made significant investments in training and development of its employees, as well as upgrading technology and infrastructure. As a result, Walmart has been able to innovate and adapt to changing consumer preferences, maintaining its position as a market leader in the retail industry. Act with Integrity Integrity is a core value of Walmart's business philosophy, guiding its decision-making and business practices. The company has implemented strict ethical guidelines and compliance measures to ensure transparency and accountability in its operations. Walmart's commitment to integrity has been recognized by various industry watchdog organizations, earning it a reputation as a responsible and trustworthy corporate citizen. Keep in mind: this is just a sample. Get a personalized article from our expert writers now. Get a Custom Essay Conclusion In conclusion, Walmart's business philosophy stands..