Business in USA before Wal-Mart Opened Assignment

Business in USA before Wal-Mart Opened - Assignment Example Although the major stores had different items for customers to choose from earlier on, Wal-Mart took this a step further. This can be clearly seen in today’s world where people prefer to shop in supermarkets. This is important since it allows customers to compare substitute goods in relation to price and quality hence settling for the most satisfying. Wal-Mart has a wide range of goods ranging from simple everyday necessities to seemingly luxurious items such as expensive watches. As such, the strategy of having a wide variety welcomes all people whether rich or middle class. The retail industry has hence changed business strategies such that most successful businesses provide a wide range of products. Furthermore, Wal-Mart’s culture of weekly meetings has provided players within and outside the industry a new business strategy especially in relation to management. Although, the culture of the weekly Saturday meetings may not be still in play, Wal-Mart certainly brought in an effective business strategy. This culture instilled an entrepreneurial spirit and allowed people to view decentralized management as a possible strategy. Earlier on organizational management was mainly centralized mostly with only one annual employee meeting. Additionally, the culture united workers making Wal-Mart and other firms that adopted the technique solid due to employee loyalty and retention. As such, Wal-Mart made an important contribution not only to the retail industry but also across all other industries.