Speech From Conference in Brussels: Wal-Mart Incorporation Strategies

The esteemed guests, ladies and gentlemen, it is with great honor to welcome you to our annual international conference here in Brussels. I am delighted to represent Wal-Mart Incorporation as a communication director. I am purposely here to inform you on our various ranges of products and services we offer as well as echo the fundamentals of our mission and vision statements, core values and business strategies that enable us to survive in the global market. Our rank in 2015 as one of largest and leading retailer in the world economy with an estimate of 2.2 million employees across the world was tremendous. Currently, being a leader in the retail industry, our annual revenue exceeds $ 485 billion since the year 2015. The merit record base on our strong mission statement, vision statement, and core values.

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The mission statement is the chief pilot that enables us to achieve short-term objectives. The mission statement is, "Saving people money so they can live better" (Hill, Charles, Gareth, Jones & Melissa 35).It is indeed a noble thing to have savings because once you save money, then you will be able to live a comfortable life. We provide quality products at an affordable price that enables our customers to save on buying expenditure. Additionally, our ability to fulfill the mission statement has led to new markets and opportunities globally. Our mission statement is a key factor that marks the realization of the company's vision statement which states as; "To be the best Retailer in the Hearts and Minds of consumers and employees." Any successful business satisfies both the customers and staff. Basing on this, we have gone a milestone to ensure that both our staff and consumers receive financial benefits. For instance, our employees' remuneration strategy is friendly and meets the international standards to facilitate for a better life.

Our core values act as a guideline to achieve the mission and vision statement. They establish a strong code of conduct while in the line of duty cultivating a healthy culture that makes our employees good ambassadors. We do business in good faith by disclosing all the relevant information on the range of product we deal in and other services. The core values ensure uniformity in service delivery despite having strategic stores in different parts of the world (Simons & Robert 53). Open door policy is one of fundamental value. The system provides that all employees and customers have equal opportunities both at the workplace and stores. The managers at our various stores treat all employees with fairness without favors.

The Sundown Rule is another core value that ensures the company's stakeholders receive immediate feedback for their complaints. For instance, Wal-Mart gives answers to raised questions on the same day either from a customer, supplier or employee. It is, therefore, easy to solve complaints by the management because of our established channel of communication that gives a clear procedure on how to address quarrels. On the other hand, grass root process helps in identifying and realizing new suggestions from our front line managers so that we can keep our product appealing on the market.

However, at Wal-Mart, our belief is respect to all our stakeholders, good service delivery to our esteemed customers and maintaining excellence in all activities (Kotter & John 17). The ideas help to attend to the need of every stakeholder. For example, a client is served to make a delivery order. As a leader in the workplace, we need to be role models to our team members and not act like a boss. It is an essential morale booster to our employees so that we get the best out of them.

At Wal-Mart, we follow two business strategies. One of the strategies is our general approach. The technique acts as a cost leadership which follows the porter's model (Manas, Todd & Michael 33). It is this policy that makes as attractive in the face of the business world as the leading low price retailer. Therefore, the sole aim of our general strategy is to maintain low prices in selling our products. Apart from the low prices, the firm also ensures that it cuts on the cost of operation. Low operational costs lead to low production costs hence achieving a target of low prices of our commodities. More so, we also aim at reducing employees wages by ensuring that no labor surplus leads to paying of ghost workers. Wal-Mart embraces the use of information technology to increase the efficiency and effectiveness in day to day operations to attain low prices of commodities. The sales and marketing department has the biggest task to ensure there is high sales volume of our product. High steady sales translate into large economies of scale benefits. The merits of large-scale include low cost of production and high profits.

The second strategy is fast growth methods. They include; market penetration, product development, and market development. For the purpose of penetrating new markets, we offer commercial and special discount packages as well as promote our products to seize new opportunities (Shwom, Barbara, Clarke, & Lisa 40). As a result, we sell many products to our newly identified target market. However, pertaining the growth of market space, we have been able to establish new market stores in entirely new markets different from the common markets we sell our goods and services. Though we do not invest much in product development, our primary drive is to ensure there is an increase in selling and marketing activities of new products. This growth strategy provides that Wal-Mart operations expand in size so that we can meet the increasing demand and competition internationally.

Our best selling product is a banana. It is a tropical fruit which turns yellow when it ripens. It is the cheapest food that is available in our store. Selling of bananas has led to an increase in annual revenues by one billion pounds. The product emerged as the best selling and income generating in 2015. However, in 2016, electronic products became the best selling products topping other products by 16% according to research done by Statistic Brain Research Institute in October 2016. The electronic products include Televisions, Laptops and Digital Cameras. Their percentages of sale are 4.5%, 3.5%, and 3% respectively. However, the personal care and apparel products are becoming the favorite in the current market. Their sales are increasing by 14.5% and 13% respectively. Finally, we are looking forward as a company to expand our market internationally and make our products the first choice to our prospect consumers contrary to that of existing competitors in the global retail industry.

Once again, thank you for your cordial invitation and time for attention.

In my speech, I have ensured that I have all the necessary information about my topic. The information is complete, hence relevant and informative to use by all present stakeholders and other users in the conference. More so, I have used simple language which is not too technical for the audience to comprehend my agenda in the speech. Professionally, I have also avoided using gender sensitive words such as her and him. However, I have ensured that my key ideas flow systematically to save time while presenting. However, to emphasize the main points, I will employ other non-verbal techniques such as body movement and tonal variation. Tonal variation helps to keep the attention of the audience.

Works Cited

Hill, Charles WL, Gareth R. Jones, and Melissa A. Schilling. Strategic management: theory: an integrated approach. Cengage Learning, 2014.

Kotter, John P. Corporate culture and performance. Simon and Schuster, 2008.

Manas, Todd M, and Michael D. Graham. Creating a Total Rewards Strategy: A Toolkit for Designing Business-Based Plans. New York: AMACOM, 2002. Internet resource.

Shwom, Barbara L, Liz Clarke, and Lisa G. Snyder. Business Communication: Polishing Your Professional Presence. , 2015. Print.

Simons, Robert. Levers of control: How managers use innovative control systems to drive strategic renewal. Harvard Business Press, 2013.