Authors: Irwin, Elena G.; Clark, Jill
Source: Ohio State University, Department of Agricultural, Environmental, and Development Economics
So begins a recent report about the wide-ranging influence of Wal-Mart, from global business to local communities to inflation rates and national wages. Wal-Mart has capitalized on cost-saving technologies and advances in transportation to achieve remarkable efficiencies in the retail supply chain. In doing so, they have revolutionized the way retailers and others do business. Like many U.S. firms, Wal-Mart has benefited tremendously from economic globalization. Here, we review the forces of globalization and discuss how Wal-Mart has taken advantage of these forces to achieve such dominance in business.