Environmental Factors University of Phoenix MKT/421 � Marketing December 4, 2006 Environmental Factors Globalization means operating in the world economy as a single economy. Globalization is a compulsion now. It promotes the most efficient and cost-effective use of resources. The market encourages productivity and efficiency gains from specialization, it builds economies of scale, and it improves efficiency because of greater competition. Case of Wal-Mart Founded in 1962 by Sam Walton, Wal-Mart followed an amazing pattern of success and growth, eclipsing all other U.S. department store retailers by the early 1990�s. In early spring 2001, Wal-Mart enjoyed a huge market capitalization of over $230B, which was down from highs of nearly $300B in early 2000. Wal-Mart Stores, Inc. is the world's largest retailer and the largest company in the world based on revenues, ignoring profits (income), assets, and market capitalization. In the fiscal year ending January 31, 2002, Wal-Mart had $219 billion in sales and $6.6 billion in net income. It employs over 1 million people in the......

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