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Business Models and Systems - but also creates a...

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Business Models and Systems I have always enjoyed shopping at Walmart and consider it a very competitive store when it comes to its prices. Walmart offers lots of merchandise at competitive prices. The way they stay afloat is they buy low and then sell low. A business is considered a process where people produce, exchange and trade goods and services. Walmart employs individuals who with an acquired set of specialized skills and abilities through training allow the company to create valuable goods and services to be sold by those employees. Walmart has a relationship not only with their employees but with the customers as well. The built relationship coordinates and controls the interactions between people so that they work toward a common goal, which are quality products at exceptional prices with a smile. The company’s business model not only outlines the plan for these resources
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Unformatted text preview: but also creates a competitive advantage in the value of its product and generates profitable sales revenue. All business activity is self-interested and competitive, and therefore Walmart must make the effort to stay on top of its game. The forces of supply and demand determine a product’s market price. Supply and demand are the result of many individuals biased judgment of the value or utility they will receive from consuming a particular product so Walmart insures it has products that meet the demands of its consumers. Some companies will always ruthlessly pursue their self-interest and try to cheat and defraud others. Walmart on the other hand has always stood behind its products and always offers a refund if the consumer is unsatisfied with the product. That is why I continue to be a loyal shopper at Walmart....
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