Global Business-Walmart

1 INTRODUCTION TO WALMART
1.1 Overview
“Wal-Mart Stores, Inc., branded as Walmart, is an American multinational retail corporation that runs chains of large discount department stores and warehouse stores.   The company is the world’s third largest public corporation, according to the Fortune Global 500 list in 2012, the biggest private employer in the world with over two million employees, and is the largest retailer in the world.   Walmart remains a family-owned business, as the company is controlled by the Walton family, who owns a 48 percent stake in Walmart.   It is also one of the world’s most valuable companies” (Walmart, n.d.).
1.2 Board of Directors
Strong corporate governance is essential for a successful business, and the board members ensure Walmart operates with integrity and accountability.   The Board of Directors are then assigned with responsibilities that are listed as follows (Board of Directors, n.d.):
  * Rob Walton (Chairman of the Board of Directors)
  * Aida M. Alvarez (Former Administrator of the U.S. Small Business Administration)
  * James I. Cash, Jr. (James E. Robison Emeritus Professor of Business Administration at Harvard Business School)
  * Roger C. Corbett (Retired CEO and Group Managing Director of Woolworths Limited)
  * Douglas N. Daft (Retired Chairman and CEO of the Coca-Cola Company)
  * Mike Duke (President and CEO, Wal-Mart Stores, Inc.)
  * Timothy P. Flynn (Retired Chairman of KPMG International)
  * Marissa A. Mayer (President and CEO of Yahoo!, Inc.)
  * Gregory B. Penner (General Partner of Madrone Capital Partners)
  * Steven S Reinemund (Dean of Business and Professor of Leadership and Strategy at Wake Forest University)
  * H. Lee Scott, Jr. (Retired President and CEO of Walmart)
  * Jim C. Walton (Chairman and CEO of Arvest Bank Group, Inc.)
  * Christopher J. Williams (Chairman and CEO of The Williams Capital Group, L.P.)
  * Linda S. Wolf (Former Chairman and CEO of Leo Burnett...