Wal-Mart Changes in Business Practices

SAMPLE EXCERPT:

Third is the women's economic empowerment page where the company has taken the initiative of changing the lives of many different women around the globe.

The fourth page shared by Wal-Mart on Twitter and Facebook is inclusion and diversity. In this web page, the company provides explanations to different network users: the information relates to its history, and growth over the years to make it what it is today. This gives people confidence that Wal-Mart is a company that a person can rely or depend on with their lives. There is also another web page dealing with ethical sourcing. In this case, the company explains its positive influence on global supply chain by raising or improving its standards and working conditions in all the nations from which the company sources over the years. Finally, a page on veteran and military families exists, and the company shows how they have to give back to different nations' heroes.

It is pertinent to note that, Wal-Mart Company has also used or utilized social media in order to invite any potential investors who may be interested in investing with them. This is done by ensuring that every quarterly in their financial year, the company updates its quarterly results in its Twitter and Facebook pages. This is where all its financial news is realized as the pre-recorded management reviews its transcript and phone calls. There are also two other pages which provide the biography of the executive management and the other the board of directors and their downloadable photos. This is done to ensure all the potential investors are made aware of all the company's deeds and how it is run.

Additionally, its way of inviting more suppliers is through social networks, which is Twitter and Facebook. The company acknowledges that their key role is to ensure that all their members and clients are satisfied at all times. Therefore, for this to happen effectively they have to have a network of global suppliers. Therefore, the company has invited any person who is ready to become part of thousands of businesses that call themselves Sam's Club Suppliers and Wal-Mart to join them.

Therefore, still through Twitter and Facebook, pages have been posted on how to become part of Wal-Mart's suppliers team. This page provides any interested party in their supplier requirements, and the five types of suppliers who the company works with comfortably. There is also a get-to-know Wal-Mart page showing that it focused in becoming a Sam's Club or Wal-Mart's supplier besides filling the application forms. Finally, there is also a page on the resources and references available, which are meant to assist any potential supplier in finding links with other partners of the organization, together with other helpful contacts, files, and forms.

Wal-Mart careers are not only in their websites: they are also on Twitter and Facebook. This is because by using social network media, there are extremely high chances that people will get the company's career information other better than they would get if they only used the websites. With their careers, they have been able to make better lives for many people possible. Their careers range from stores or clubs, corporate, Wal-Mart e-commerce, distribution and transport, pharmacy and optometry, global sourcing, and drivers. With all these careers, their descriptions and qualifications are all laid out in the social media: interested persons working with the organization can apply for the available vacancies (Mullins, 2010).

The Changing Technology

The changing technology and the increasing pace at which marketing is taking, companies just like Wal-Mart have been put under pressure to ensure they keep up with the pace. Otherwise, those organizations, which have foregone the use of social media as a way of marketing, have failed. Social media like Facebook and Twitter are the two commonest and powerful social sites, which have a significant influence on people especially the young people.

This is the key reason as to why Wal-Mart has discovered in order to grow to other levels that they have so far not been able to grow to, is to do their marketing through social media. Thousands of people access the two sites every second; this means that they can access all the available advertisements at any given time. It is extremely difficult for many people to see periodic advertisements in split seconds using other modes of advertising like television or radio.

However, this has had a considerable impact on Wal-Mart, both positive impacts and negative impacts. Positive impacts are such that the company had experienced a tremendous growth, which was not the case when it marketed itself through television, radios, and even billboards. The other advantage is that the company has been able to popularize itself. This is particularly crucial because even if a person is not interested in its services or careers, he or she may end up encouraging someone else who may be interested.

It is also advantageous because social marketing is like network marketing. The company will be able to meet and interact with people online, and from that, they will know the views of different people. They will know which products or services to improve and which of their products and services are demanded more than others are. Additionally, keeping frequent contact with the public is an appropriate way of showing people that the company is there to help them improve their lives. However, if they do not keep in touch with the people, it will be a sign that they do not care about their welfare.

However, some of the disadvantages are that the company has to hire people and allocate them a different department, which will always ensure that the company is always in contact with the social media, and ensure that all its pages are always up-to-date. However, Wal-Mart cannot just sit back and fail to do this because they know that they will be putting their business at a risk. This is advantageous because the company will have to spend more on hiring the people: they do not need to hire permanent employees to do this because the temporary ones who will leave after some time (Stratten, 2010).

Conclusion

In Conclusion, many companies around the world should do everything possible to ensure that at least sixty percent of their advertising is through the social networking sites such as Twitter and Facebook. This is because the advertising type is not as costly like other types. Consequently, many people can access as much information as they can from the company. However, this is not possible in the case of using television or radio advertisements.

Companies should be aware of the rapid changing marketing demands, which might affect their business either in the long-term or in the short-term. However, since not all organizations would be comfortable marketing their products or services through Twitter or Facebook, it is crucial for those companies to identify some other social networking sites where they can be able to market their products or services comfortably.

In addition, those companies like Wal-Mart, which prefer using some social networking sites like Facebook and Twitter, should be extremely careful so that con artists may not end up defrauding them. The con artists may pose as the organizations' employees and try to understand the in-depth of these companies eventually defrauding them. They may do this by picking money from potential suppliers who may be wishing get to work with the company.

References

Christian, E.B. (2011). Rock Brands: Selling Sound In A Media Saturated Culture. Lanham [Md.: Lexington Books.

Clow, K.E. (2012). Cases in Marketing Management. Los Angeles: SAGE.

Mainwaring, S. (2011). We First: How Brands And Consumers Use Social Media To Build A Better World. New York: Palgrave Macmillan.

Mullins, J.W., & Walker, O.C. (2010). Marketing Management: A Strategic Decision-Making Approach (8th ed.). New York: McGraw-Hill.

Stratten, S. (2010). Unmarketing: Stop…