Walmart is one of the largest retail giants in the world. It is headed by Doug McMillon who joined the company in 1984 as a summer associate. And worked his way up to take over all the successful leadership positions of the company. Currently, he serves as the head of the entire company, previously having been the President and CEO of Walmart International. Since assuming this responsibility, Walmart has grown steadily to become a global superpower in terms of revenue and reputation. The company’s stock prices have skyrocketed since 2014 and for 2019 the revenue figures stand at $514.41 billion. It employs more than 2,2 million associates around the world but has still managed to retain its old-world charm.
He believes is keeping up with the changes
Walmart CEO believes that the company should adapt to the times and keep up with all changes that are happening. His agenda for the company is to expand its operations and grow it further by prioritizing customer experiences. And also, keeping their needs at the forefront of all important decisions. It can be achieved by revamping and upgrading shipping and delivery services. The retail space is more complex and competitive than it used to be. And the only way to succeed is to recognize the potential for growth.
Speed is what keeps him up at night
The CEO has revealed that the one thing that keeps him up at night and on the move is the need for speed. Major investments have been made to boost its speed specifically focusing on the e-commerce aspect which is a strategic area that presents significant growth opportunities. The company has made its presence known in crucial growth markets like India through its acquisition of the Indian e-commerce giant, Flipkart. It was the company’s riskiest bet at the time when it invested $16 billion to gain the company.
Walmart has faced stiff competition from Amazon in India which itself is a force to be reckoned with. However, it has proved that it’s fighting capabilities as it has established thriving cash and carry venture in various city metros and sources raw materials and products from India. McMillon has quipped that India is a fascinating and diverse country that offers growth potential. And he wants to set up a business (Walmart in India) that services the requirements of people in the country.
He dreams of becoming a part of a unified supply chain that benefits all those involved from farmers to customers. Despite the hurdles the company has to face in the form of strict regulations from the Indian government on e-commerce companies, the company will not give up and continue to fight for more investments and equal opportunities.
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