Write a 250 word essay on how the 3 areas of business apply to a business in your city. This can be a family business, a well-known business, or your favorite business.
For my local business I chose Walmart. It may not be a super small mom and pop shop, but it definitely is well known and a great example of business. For this assignment I need to look at the three areas of business. Sales and marketing, operations, and finance, along with administration.
First is sales and marketing. Walmart has a mountain of advertisements. Between their commercials, low prices, and online store, they have something that interests everybody. Walmart is growing so fast that their online store is now starting to compete with Amazon. Walmart makes about $60.48 million in profit per day. If that doesn’t sound crazy enough, Walmart makes about $42,000 in profit every minute. These numbers show how much profit Walmart makes.
Second is operations. Walmart is a great example of how to operate a business. They hire employees to stock shelves, unload trucks, check out customers, organize the store, keep track of the inventory, and much more. Walmart has a great operation.
Third is finance and administration. Walmart does a great job in this too; they handle the employees’ paychecks and benefits, store expenses, budgets, sales records, and their profit. Walmart shows that running a business can be successful if you operate in all three areas of business well.
