Chap. 5 Develpoing A Global Vision

Chap 5 Develpoing A Global Vision

Walmart's President and CEO Mike Duke has laid out four.r strategies .He said Walmart is poised to deliver on Sam Walton's vision of giving "the world an opportunity to see what it's like to save and have a better life." The strategies are:

1. Become a truly global company
2. Understand the business challenges that retailers will face and solve
them
3. Play an even bigger leadership role on social issues that matter to our
customers
4. Keep our culture strong everywhere.


"Our results demonstrate the underlying strength of our business and our strategies of growth, leverage and returns," said Duke. "But as proud as we are of our recent performance, future success is never guaranteed. I want all of you to be able to say that at this moment Walmart committed to being a truly global company and began building the Next Generation Walmart."

In order to be a more global company, Duke discussed the need to serve customers as a local store, share best practices and leverage Walmart's global supply chain. He also stressed the importance of talent: "Just over the next five years, we'll create 500,000 jobs around the world. We need to recruit the best talent and identify the best talent in our ranks. Then we need to develop leaders and help them become global citizens."
With the company's plans for future growth,He said. Duke sees Walmart's culture as a competitive advantage and one that needs to stay strong globally. "Our culture is who we are. It isn't just words written on a wall at the Home Office or stapled to the bulletin board in the back room of a store. It makes us special. It sets us apart from the competition. And it appeals to people everywhere. So wherever we go and whatever changes we may make, we must keep our culture strong," said Duke. "I truly believe the retailer that respects individuals, that puts customers first, that strives for excellence, that is trusted will win the future."

Walmart announced that its Board of Directors approved a new repurchase program that authorizes the company to repurchase $15 billion of its shares. This program replaces the previous $15 billion program, which was announced , and had approximately $4.7 billion of remaining authorization. Under the program, repurchased shares are constructively retired and returned to unissued status.