Summary Background Low Prices and Great Value Respect for the Individual Customer Service Strive for Excellence Act with Integrity Conclusion Walmart, the world's largest retailer, has a unique business philosophy that has helped the company 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 Shouldn't Be Banned"? Get an original essay BackgroundWalmart was founded by Sam Walton in 1962 with the goal of providing customers with low prices and great value. The company has since become a global powerhouse, with operations in more than 25 countries and a workforce of more than 2.2 million employees. Walmart's corporate philosophy centers on four key principles: respect for the individual, customer service, 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 offering low prices and great value to its customers. The company achieves this through efficient supply chain management, great purchasing power and a relentless focus on cost control. According to a report by Forbes, 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 corporate philosophy emphasizes the importance of respecting 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 aimed at promoting equal opportunities for all employees. Additionally, Walmart has a strong track record of supporting local communities through charitable giving, disaster relief and environmental sustainability programs. Customer Service Another key aspect of Walmart's business philosophy is its unwavering focus on customer service. The company has invested heavily in technology and e-commerce to offer customers a seamless shopping experience, both in-store and online. According to a study conducted by Kantar, Walmart's customer satisfaction ratings have consistently outperformed those of its competitors, highlighting the effectiveness of its customer service initiatives. Striving for Excellence Walmart's commitment to excellence is evident in its ongoing efforts to improve its operations and offerings. The company has made significant investments in employee training and development, as well as improved 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. Acting with Integrity Integrity is a core value of Walmart's business philosophy, guiding its decision-making and business practices. The company has implemented rigorous ethical guidelines and compliance measures to ensure transparency and accountability in its operations. Walmart's commitment to integrity has been recognized by various industry watchdogs, earning it a reputation as a responsible and trustworthy corporate citizen. Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom Essay Conclusion In conclusion, Walmart's corporate philosophy is characterized by dedication to low prices, respect for the individual, customer service, the pursuit of excellence, and acting with integrity..