THE POTENTIAL TO UNLEASH UNRIVALED SUPREMACY USING WAL – MART AS A CASE STUDY BY MEANS OF USING MANAGEMENT INFORMATION SYSTEMS (MIS), FIMANCIAL SYSTEMS AND SOUND ACCOUNTING PRACTICES: LESSONS FOR LARGE AND SMALL RETAIL BUSINESSES

Abstract

This paper in case study format and style attempts to analyze the entry of Wal – Mart a major foreign based retail chain store that also entered South Africa amidst mammoth controversy and opposition, from small retailers and the labour movement. Wal – mart has expanded its international presence and has become an unrivaled brand and retail supplier of goods and services in many parts of the world. It began operations in 1962 with 24 stores. The idea was simple, in that it began to use new technologies against competitors that began using technology and management information systems to pursue business. The question arises, if it will be able to sustain the use of technology and management information systems, in order to survive and thus gain competitive advantage in the world of competitive and harsh retail business. In spite of its success as a chain of retail stores, it made a few cardinal mistakes in understanding holistically the business mix required to become an unrivaled retail chain. The paper looks at these issues from the perspectives of a case study and therefore makes some recommendations for improvement. By the same token this case study approach does not pretend to capture all aspects of Wal – Marts supremacy worldwide in respect of retail business. The paper therefore assumes significance for retail businesses, the management student, managers in general, for purposes of sound and good financial management and for purposes of acceptable accounting practice