Intro story Essay
In today’s competitive business environment, it is hard to stand forward many competitors. However, Wahl-Mart Inc, the largest retailer in the world can stay at this position for decades. Peter Ducker, a leader in the development of management education, said:”Nowadays the competition between business is not the competition of products but the competition of business model. ” The slogan of Wahl-Mart, “Saving people’s money so they can live better”, shows the core business model of it.
The aim of the study is to find what the business model of Wahl-Mart is and the successful factors that make it become the largest retailer in the world which operate more than 3,400 U. S Wahl-Mart stores along with 550 Cam’s Club locations and haul . 3 million employees in the world. (Frank,2006) In the study, it is organized as follows. Firstly the basic definition of business model will be identified.
Secondly, I will discuss methods of how to build a good business model. Finally, the most important part of this paper. I will focus on the business model of Wahl-Mart on the basic of existing literature by following the business model of the Coastal et al. (2005, 5). He defines business model as ‘a conceptual tool obtaining a set of objects, concepts and their relationships with the objective to express the business logic of a specific firm’.
Conclusion: Through the analysis of Wahl-Mart’s business model, it is clear to understand why Wahl-Mart can win the title of the largest retailer in the world. Wahl-Mart clearly set a value proposition, everyday low price, which are the central of the whole business model and it also successfully use other important business models such as who is its customers, how it deliver its ideal to customers and who can help it to maintain its ideal of everyday low price to help Wahl-Mart align to its value proposition.