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Running head: STAKEHOLDER SATISFACTION AT WAL-MART THROUGH QUALITY MANAGEMENT

Name: Sun qian

T1 QM

Date: 02/14/2019

Introduction

In a competitive business environment such as retail, the stakeholders are the main reference attributes. This is because they generate the much-needed value for the organization. Organizations strive to satisfy their stakeholders, and mainly their customers, through careful and quality management of the different attributes. Lately, there has been a focus on quality management as a replicable and empirical model of ensuring quality management of crucial internal and external stakeholders (this is not a recent discovery). Quality management simply defined implies the sum of measures, effort and people-oriented focus employed with the organization with an aim of satisfying their consumers. This paper analyses how Wal-Mart in comparison with Nordstrom utilizes a quality management model in order to satisfy its customers.

Company’s Overview

Wal-Mart is a public traded fortune five hundred retail company that was founded 1n 1960’s. The retailer is the largest in the world and is the largest private employer in the world. Nordstrom, on the other hand, is a fashion line retailer that operates mainly in the Western USA. The company off-price strategy and sudden growth and success make it ideal for cross comparison.

Theory quality??

Quality management has often been categorized into three legs, many consisting of measures, the people, and the process this is not the three legs of TQM use framework terms. In line with the five approaches to quality management are you referanceing the causal diagram? These are not approaches to TQM they are the dimensions of TQM, Wal-Mart has mostly succeeded in cost and price quality tactics. The retailer operates on a cost leadership strategy. Product prices are rapidly expanded in a quick and professional manner to ensure that the retailer is ahead of its competitors. In comparison with Nordstrom, Wal-Mart is far more advanced in ensuring prices resonates with market dynamics. Nordstrom mainly focuses on trends and attractiveness of its products other than prices. Need support of statements

Besides the everyday low price and cost product line model, the store also follows a user identity approach to management (EDGAR, 2017) which store?. This implies that Walmart is able to avail product lines that match its customer expectations. To do this, Wal-Mart has successfully selected its category of products to suit its customer needs how does this impact SS. The retailer operates deli, fresh departments and other specialty stores in its outlet all with an aim of ensuring it covers its consumer’s expectation. Nordstrom, on the other hand, has largely succeeded because it ensured that its fashion line meets current trends needs. Is this the only reason? The correct product? What are they doing in regard to TQM that has made them sucessful

On the manufacturing approach, Wal-Mart engages in both production and sourcing of goods. This element requires a company to ensure that the produced or purchased goods conformance meets with specifications (EDGAR, 2017) . How does this impact TQM and SS The retailer has one of the most elaborate and sustainable vendor relationship models. The symbiotic model involves the collection of wares directly from manufacturers. This also calls upon the store to ensure timely deliveries by minimizing breakdowns of its vans and trucks Qcontrol?.

These factors ensure that Wal-Mart functions at peak performance, there is unity of purpose and freedom through control as well. It is also understood that quality management is a continuous process support your statements. In order for Wal-Mart to fully satisfy its customers, the retailers have quickly been upgrading its product catalog, opening new stores and investing in revolutionary technologies(continuous improvement?). This sustainable criterion is also evident in Nordstrom whereby existing product line is being updated daily and the listing of products in E-commerce platform being expedited. However, it is largely agreed that Wal-Mart is not doing well in the people aspect of the employee??? This is confusing. The reward and remuneration are largely unsatisfactory. Nordstrom, however, did not have a problem with its employee remuneration policy as it pays way above the minimum wage support support support! How do you know this? Where do you find this info? Is this the only measure for the employee satisfaction?.

Quality management involves carefully balancing and management of a company’s attribute with an aim of achieving customer satisfaction. Wal-Mart product specification conforms to the need of its customer through pricing and costing. This is made possible by following a good vendor policy. The store has instituted measures in line with three legs of quality management aimed at ensuring it functions at everyday low price and cost.











Reference

EDGAR (2017). Walmart INC. Retrieved august 2018, from USA security and exchange commission: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000104169&owner=exclude&count=40&hidefilings=0