Table of Contents

Research Project #1. 4

Introduction. 4

Wal-Mart 4

History. 5

Wal-Mart’s Revenue. 5

Wal-Mart’s Subsidiaries. 5

Wal-Mart’s Products. 6

Wal-Mart’s Services. 7

Discussion. 7

Coronavirus Impact on Retailing Markets Worldwide. 7

Present and Future Challenges for Wal-Mart 8

Shortage of Employees for Online Functioning. 8

Potential Threat of Virus through Physical Shopping. 8

Reduction in Revenue. 9

Outbound and Inbound Supply Chain Hurdles. 9

Reduction in Consumption of Beauty Products, Luxury Goods and Electronic Gadgets. 9

Health Screening for Wal-Mart Employees. 10

Recommendations for Wal-Mart 10

Protection of Employees and Buyers. 10

Secure Business Stability. 11

Get Granular Vision of Local Reality. 12

Simultaneous Management of Supply and Demand. 13

Transform Business Prototype to Ensure It is Future Proof and Tech-Enabled. 14

Boldly Reshape Ecosystem.. 15

Conclusion. 15

Research Project #2: Annotated Bibliography. 17

Research Project #3: Index of Economic Concepts. 21

1.          Accounting. 21

2.          Accounts Payable. 21

3.          Accounts receivable. 21

4.          Assets. 21

5.          Balance Sheet 21

6.          Cash Flow.. 21

7.          Cost and Benefit 21

8.          Customer Value. 21

9.          Liabilities. 21

10.       Marketing. 22

11.       Net Loss. 22

12.       Net Profit 22

13.       Optimization. 22

14.       Owner’s Equity. 22

15.       Profit Margin. 22

16.       Revenue. 22

17.       Scarcity. 22

18.       Stock and Flow.. 22

19.       Supply and Demand. 23

20.       Supply Chain. 23

21.       Transferability. 23

22.       Utility Value. 23

23.       Value and Price. 23

24.       Wealth. 23

References

Research Project #1
Introduction of Effects of Coronavirus on Economy in the context of Wal-Mart

From last two centuries, there is lot of technological revolution around the world. Human has done lot of advance developments in communication, transportation, agriculture, e-commerce and healthcare systems. However, still human is not capable to control or dominate nature because uncertainties have always been a part of human life from millions of years. Similar uncertain situation, world is facing now a days in the form of coronavirus pandemic. Coronavirus has infected almost all counties now (Chaudhuri, 2018).

In this research project we are going to talk about uncertain situation because of coronavirus and impact of coronavirus on economy. To describe the coronavirus impact on economy, we selected retailing company Wal-Mart. As other sectors have got affected by coronavirus, similarly Wal-Mart’s economy also has got affected. This assignment further briefs about Wal-Mart’s history and its supply chains followed by challenges that it’s currently facing and upcoming issues too because of coronavirus. In last being a managerial economics consultant, we proposed some recommendations that Wal-Mart should take to make it fully functional, healthy and in profitable state (Nassauer & Cutter, 2019).

Wal-Mart:

Wal-Mart is multinational retailing company that operates the multiple chains for hypermarkets, department stores as well as grocery stores with great customer values. Wal-Mart has its headquarters in Arkansas.

History of Effects of Coronavirus on Economy in the context of Wal-Mart

Wal-Mart was founded in 1962 by Sam Walton and was incorporated on 31 October, 1969. Wal-Mart also operates the Sam's Club retail-warehouses. Currently, Wal-Mart owns 11,503 retailing stores as well as clubs worldwide that is getting operated with several names. This company functions as Wal-Mart in USA and Canada. While in Mexico it works under Wal-Mart de México name, in UK as Asda (Chaudhuri, 2018), in Japan as Seiyu Group and in India it has name Best Price. It has fully owned setups in Argentina, Chile and South Africa (Bustillo, 2016). In early 1990s, Wal-Mart was geographically restricted to South and Midwest but it was having stores from one coast to other coast. Sam's Club founded in November, 1989 at New Jersey and California outlet got opened at Lancaster in a July 1990. In October, 1990, Wal-Mart in Pennsylvania was opened as first store in Northeast (Chaudhuri, 2018).

Wal-Mart’s Revenue of Effects of Coronavirus on Economy in the context of Wal-Mart

Wal-Mart is world's largest retailing company in terms of revenue and assets according to 2019 Fortune Global list with 514.405$ billion. It is largest private based employer in world with the 2.2 million workers. It is publicly retailed family owned business as company is completely controlled by Walton family. Sam Walton's successors own around 50 percent (owner’s equity) through the Walton Enterprises and separate holdings. Wal-Mart is largest USA grocery store and 65% of Wal-Mart's sales with 510.329$ billion generate from USA operations. Wal-Mart was got listed on 1972 in Stock Exchange. In 1988, Wal-Mart was most profitable retailing store in USA and it became largest by revenue on October 1989 (Keil, 2015).

Wal-Mart’s Subsidiaries of Effects of Coronavirus on Economy in the context of Wal-Mart

Wal-Mart being a multinational retailing store has investments outside the USA also (Report, 2019). Its operations and subsidiaries are highly successful in:

·         Canada

·         United Kingdom

·         Central America

·         South America

·         China

Whereas, its ventures got failed in:

·         Germany

·         South Korea

Wal-Mart’s Products of Effects of Coronavirus on Economy in the context of Wal-Mart

·         Electronics

·         Movies and music

·         Home and furniture

·         Home improvement

·         Clothing

·         Footwear

·         Jewelry

·         Toys

·         Health and beauty

·         Pet supplies

·         Sporting goods

·         Fitness

·         Auto

·         Photo finishing

·         Craft supplies

·         Party supplies

·         Grocery items

Wal-Mart’s Services of Effects of Coronavirus on Economy in the context of Wal-Mart

Wal-Mart has several services around the globe:

·         Wal-Mart-2-Wal-Mart

·         Wal-Mart MoneyCard

·         Pickup Today

·         Wal-Mart.com

·         Financial Services

·         Wal-Mart Pay

Discussion of Effects of Coronavirus on Economy in the context of Wal-Mart
Coronavirus Impact on Retailing Markets Worldwide

Coronavirus is infectious and zoonotic disease that is caused by newly discovered COVID-19 virus and it spreads through belongings and discharge of infected person. According to World Health Organization, COVID-19 virus was emerged in Wuhan city of China on December, 2019 that has infected 110,000 individuals in 110 countries globally. At present, there is no proper vaccine or treatment is available for COVID-19 virus. Although, there are several clinical trials are ongoing. Coronavirus has affected almost all countries with huge economic loss. Coronavirus has become biggest threat to financial markets and global economy. Majority of banks and institutions have cut-off forecasts for global economy with organization for economic cooperation and development being. In the meantime, fears of coronavirus effect on global economy have upset markets all-inclusive with stock values and bond revenues falling (John L. Hick, 2020).

Present and Future Challenges for Wal-Mart of Effects of Coronavirus on Economy in the context of Wal-Mart

For several retailing companies around the globe, COVID-19 virus outbreak is reality now rather than any looming threat. At this threat level, leadership team members need to be more focused about activating the first-level emergency procedures such as:

·         Justifying the health intimidations to their employees

·         Restricting unnecessary travel to elude the stranding workers in quarantine

·         Reviewing and deferring non-strategic investments

·         Planning for three month recession

Few retailors could expect to predict course of pandemic with accuracy. Retailers have power to develop quickly and roll-out the contingency ideas to address crisis in future and ensure the business continuity, however playing role to minimize the spread of virus. In Wal-Mart grocery sector, several chains need to survive with traffic surge at both online and physical stores, as a customer stock-pile and panic-buyer (Barbaro, 2015).

Shortage of Employees for Online Functioning of Effects of Coronavirus on Economy in the context of Wal-Mart

Scaling-up the online functions to serve current demand is seems to be hard, getting difficulty in rapidly finding the enough workers with right skills. The volume of online orders of all kinds of grocery items grew 120% from December to March, compared with last year. The number of orders grew by 80 %.in these 4 months.

             Figure 1: Growth rate of online shopping due to COVID-19

Potential Threat of Virus through Physical Shopping

Meanwhile, the concept of the shopping journey in physical stores is taking on a new meaning and importance, given the potential for transmitting the virus at each interaction.

Reduction in Revenue of Effects of Coronavirus on Economy in the context of Wal-Mart

Coronavirus outbreak is continuously reducing revenue. Wal-Mart must be ready to act speedily to lessen the influence of turbulence, while learning from experience of counterparts in hard-hit countries. Wal-Mart has to face hurdle to manage cost and benefits in this situation. Wal-Mart has to face or address for any short-term disruption as well as retail executives need to start the medium term preparation for ultimate recovery (Daniel, 2016).

Outbound and Inbound Supply Chain Hurdles

Supply chains have imposed great challenge for Wal-Mart. Production as well as distribution center activities have decelerated significantly because of forced prolonged holidays and confined workers. Restrictions on the travel networks have created the logistical jams, worsening outbound and inbound supply chain complications. These restrictions have made most of the suppliers incapable to cop up with high demand surge for the staple items. Thus, resulting hollow shelves only are making buyer more panic (Wollam, 2011).

Reduction in Consumption of Beauty Products, Luxury Goods and Electronic Gadgets

Coronavirus has shown its impact on consumption categories also. Consumers are only buying necessary household products, disease prevention items, shelf stable food and reducing the consumption of non-essential products such as apparel, beauty products, luxury goods and electronic items. Sale of luxury related items have reduced from 60 to 95% during lockdown period. Fresh items purchasing has accelerated more as consumers have started preparing meals at their home. Maintenance of sufficient supply of staple food for consumers has become so difficult in these days.

                   Figure 2: Selling rate of items in Wal-Mart stores from December, 2019 to March 2020

Health Screening for Wal-Mart Employees

Being a multinational retailing company, Wal-Mart has so many workers around the globe. In in days to come any workers get infected with coronavirus, then it would be very challenging situation for Wal-Mart to disinfect all products and screening of other employees present in that store (Keil, 2015).

Recommendations for Wal-Mart of Effects of Coronavirus on Economy in the context of Wal-Mart

Being a managerial economics consultant, I recommend six suggestions that Wal-Mart should take into action to continue its best performance as reliable source of grocery items and other essential products for customers across world-wide while staying cool and executing meticulously in uncertain periods. First four recommendations are urgent whereas last two actions are more dedicated on long-term and therefore will require attention of distinct group of managers with different command to ensure the sufficient focus.

Protection of Employees and Buyers of Effects of Coronavirus on Economy in the context of Wal-Mart

For the headquarters staff, challenges presented from this crisis are defining contingency strategies; working remotely and maintaining the morale; difficult but still manageable, granted many technological solutions. Teal heroes in field are cashiers, shelf stockers, drivers and warehouse workers. Wal-Mart should step-up frontline for hygiene and must limit the human contact as great as possible by using considerable technology. Wal-Mart should encourage self-checkout, minimize cash payments, supply shelves with items only before store hours or after, and should have enough drivers to drop off the deliveries at door-steps of consumers rather going inside the consumer’s homes or handing deliveries to customers. Wal-Mart should have extra protections such as placing plastic shelters around cashiers.

Beyond store and workplace safety it is vital to create such an environment which promotes isolation or social distancing to protect vulnerable. Wal-Mart should implement the free testing facility, paid sick leaves for infected employees and stay at home policy for those workers who are suffering with cold or feeling ill. Wal-Mart should prepare for the worst case scenarios like pro-actively creating some backup strategies for most crucial workers and should move speedily to recruit additional flexible volume. Wal-Mart must hire employees on hourly basis too in this uncertain time.

Wal-Mart should show positive examples for employees and customer’s care. Wal-Mart should send protective equipment and coronavirus testing kits to other developing countries as aid. Moreover, it should have particular time to serve elderly people exclusively. Wal-Mart should donate food and other essential product to needy people in its community or offers free of cost meals to first responders and healthcare workers in this pandemic period (Daniel, 2016).

Secure Business Stability of Effects of Coronavirus on Economy in the context of Wal-Mart

Wal-Mart should keep lights on:

·         Distribution centers and grocery stores must remain open

·         Workers must carry on work

·         Home deliveries should be made on time

·         Customers should be served

This has been very challenging especially when childcare facilities and schools are closed. Equal challenge is meeting huge spikes for demand on e-commerce related sites with associated efforts to have sufficient drivers for delivery, providing customers correct delivery slots and keeping IT systems in running position (Keil, 2015).

Wal-Mart has to make sure there should be more net profit as compared to net loss. In other words, there should be more profit margins. In any extreme situation Wal-Mart must have some liabilities to grow its business where possible. Wal-Mart must take time to recognize customers’ most serious needs and further use of those insights to define the new means to serve consumers for medium and short terms. Wal-Mart must optimize allocation to accommodate the supplies which are facing scarcity such as toilet paper, tissue rolls, disinfectants and sanitizers. Wal-Mart must switch the selected stores to click and collect formats entirely to protect customers as well as employees. Wal-Mart must have strong accounting system to evaluate its cash flow. Accounts payable and accounts receivable must be managed meticulously. Wal-Mart should also work with regional suppliers, governments, employees as well as service providers for the development of minimum norms set to operate during crisis. Wal-Mart must collaborate with the local establishments to keep day-care centers accessible for essential workers. Moreover, Wal-Mart must maintain its balance sheet for business stability (Maestri, 2016).

Get Granular Vision of Local Reality of Effects of Coronavirus on Economy in the context of Wal-Mart

Speed of revival from coronavirus and consequently, patterns in consumer’s demand vary across the categories and countries. Wal-Mart is facing high demand from 25 to 50% for food items and up to 800% for flu and cold medicines. Within the food categories, we have seen customers in few areas purchasing fruits over beer but after few days, returning back to snacks and beer as they have to stay at home for long period of time. Certain retailing stores are facing steep decline in product sales while Wal-Mart with e-commerce is experiencing 700% increase in products demand and incapable to fulfill consumer orders. Wal-Mart must monitor situation on daily basis and should do as need to do for any unfamiliar event. Wal-Mart must monitor what is happening locally to adjust the business policies and operations as needed. Wal-Mart must be in close interaction with centers for disease prevention and control and with other health agencies to follow their guidelines.

Frequently staying up-to-date of what’s happening at local level would enable Wal-Mart to act properly and speedily. Wal-Mart should set up some type of virtual control center to manage, plan, address prime threats, normalize stakeholder management and moderate the main causes of threats. Financial pressure testing and cash control post are crucial in any type of crisis. Being a largest food retailer, Wal-Mart is backbone of foodstuff supply chain. Wal-Mart’s capability to drive is verified by weakest connection in its supply chain. Wal-Mart must offer smaller payments in terms to make its suppliers in running position.

Simultaneous Management of Supply and Demand

The crisis because of coronavirus has altered how average grocery trolley looks like: it exhibits the shifting in demand patterns of customers. Food supply chain is straining to sustain in these days. To restore stability, we believe Wal-Mart must simultaneous manage its commercial calendars as well as supply chains.

Clearly, it is not only matter of focusing on critical points in supply chain such as offering supplier credits, pulling for extra shifts, determining alternative sources for supply and protecting in-store warehouses, replenishment, truck drivers and last mile delivery. It is also not matter of offering extra salaries to secure the flexible capacity of workers to cover peaks. These all actions are of course highly important to make sure that retailers must fulfill the peak demand. However it is important as much as to manage the customer demand pro-actively. We suggest Wal-Mart to take clean-sheet to look at its promotional and marketing calendar to make adjustments such as reduction in promotion intensity on selected categories and to smooth unexpected mounts in supply chain; not just for today but for regular practice also in days to come (Daniel, 2016).

Transform Business Prototype to Ensure It is Future Proof and Tech-Enabled

Crisis has enhanced several societal drifts that are already in progress: remote working, tech-enabled retail, online shopping and confined supply chain (Purnell et al., 2018). Wal-Mart should address today’s short term encounters. It should take time to reconsider its business model to become highly efficient and therefore less subjected to shocks:

Stores: Wal-Mart should be in position to make its stores model cashless. It should replace cashier-based models with all-in-one no-checkout models. Wal-Mart should use data to determine on-shelf accessibility in a real time and automate replenishment (Nassauer & Cutter, 2019).

Supply Chain: Wal-Mart should embrace technology that sufficient in transportation and warehousing to minimize burden on workers. It also must adopt machine learning to forecast so that Wal-Mart can immediately spot abnormalities and adjust them instantly (Bustillo & Talley, 2011).

Marketing: Wal-Mart must equip with technological tools to smoothly run its categories. It also should have diversified sourcing adequately to minimize the future shocks. Wal-Mart must have reasons to track vertical integration and more deliberate partnerships. In view of recent customer trends, Wal-Mart should strike proper balance between international and local partnerships. It should also expand its position in private brands in face of impending GDP adversity as well as consumers’ quest for the value.

E-commerce: Wal-Mart must accelerate shares in seamless online to offline experience as well as pro-actively shift applying to online channel in model that assists consumer better and also sustainable for long term. Wal-Mart must have mountable delivery network and technological backbone for flexibility as needed (Purnell et al., 2018).

Head office: Wal-Mart should have ability to transform its head office into flexible and remote working group supported by data and tech. Systems of Wal-Mart should be capable enough to manage high load as well as cyber security concerns.

Boldly Reshape Ecosystem of Effects of Coronavirus on Economy in the context of Wal-Mart

Experience teaches Wal-Mart that emergencies typically generate new opportunities for the growth. Wal-Mart should pursue above described moves and growth avenues now to serve its customers, employees, and stakeholders better for longer term. Wal-Mart should have companies with them it can be potential partner to keep them in running position while providing itself with prospect to grow more into adjacencies. Wal-Mart should have room to magnify its footprint and identify new agreement model in result of crisis. Wal-Mart should have moves along ecosystem and value chain such as services, vertical integration, payments that became smarter. Wal-Mart should pursue now acquisitions or partnerships with tech talent and tech companies that were possibly more challenging before.

Conclusion of Effects of Coronavirus on Economy in the context of Wal-Mart

In this assignment we discussed in detail about impact of coronavirus on economy of Wal-Mart and have provided recommendation how to sustain in this unexpected situation. Wal-Mart must monitor situation on daily basis and should do as need to do for any unfamiliar event. Wal-Mart must monitor what is happening locally to adjust the business policies and operations as needed. Wal-Mart must be in close interaction with centers for disease prevention and control and with other health agencies to follow their guidelines. First, Wal-Mart must take protective measures to make all stores clean as well as to maintain the healthy environment. Stores must be disinfected on daily basis with sanitizing solutions for high-traffic and high-touch areas. Wal-Mart must increase associate attention on cleanup and should dedicate group of associates to keep the key areas clean throughout day. Because of high foot traffic, Wal-Mart should have more cleaning supplies to use for places such as shopping carts and registers. Looking forward, Wal-Mart should pursue easier methods to sanitize the shopping carts. Wal-Mart should also have strategies in position for third-party decontamination needed for store affected by coronavirus. Wal-Mart should plan to modify the store hours to fix few hours for further cleaning. Second, Wal-Mart must work to make stores stocked with fair prices. As all customers expect cleaning supplies, paper products and other staple products are in excessive demand as consumers prepare for possible influence of coronavirus. Wal-Mart should work quickly to restock those items and must redirect items to those areas of country where it required at peak as well as routing the deliveries nonstop to stores. Wal-Mart should also authorize store supervisors to control their inventory including discretion to threshold sales numbers on products with unusual high demand. Online, Wal-Mart should take firm stance linked to potential for amount gouging through third party sellers. Violations of Wal-Mart seller banned items policy and seller pricing strategy should be resolved speedily and should not be accepted. Third, as largest retailer in country, Wal-Mart must take health of it associates seriously. Wal-Mart must allow those associate to stay at home who are feeling sick with paid leave. Wal-Mart should share with its associates about details of new policies that give them further flexibility, pay options as well as support if associates are infected by virus. Out of plenty caution, Wal-Mart should also share additional plans relating to travel over next few months. Finally, Wal-Mart must try online delivery systems, pay feature options and store pickup options. Wal-Mart must remind its customers that there are several great means to shop including Wal-Mart.com and pickup services.

Research Project #2: Annotated Bibliography of Effects of Coronavirus on Economy in the context of Wal-Mart

1.      Barbaro, Hiroko Tabuchi and Michael. Wal-Mart Emerges as Unlikely Social Force . Business, New York: The New York Times, 2015.

In this article, authors have pointed how Wal-Mart pointed intervention for amounts to civil right issues. It highlights the cultural transformation on-going inside company’s Bentonville. Well-known for discomfort and its narrowness with the social matters, Wal-Mart has seriously avoided the touching public strategy for most of the part, strictly following its initiator’s vision of company dedicated relentlessly on less prices as well as big stores. Now, generational variation, and business constraints and speedily shifting the public view on issues, seem to force the Wal-Mart to make strong public standpoint that was impossible many years ago.

2.      Bustillo, Miguel. "Wal-Mart offers to acquire Chile's largest grocery chain." The Wall Street Journal, 2016: 3.

This article describes how Wal-Mart offered to buy the major Chile retailing chain. Through this action, it would be largest grocers in Chile and would be able to achieve its international ambitions and lot of revenues. Wal-Mart is continuously growing its chains in several countries. Being a USA a largest grocery store, its first motive to dominate the South America food supply chains. So Wal-Mart is targeting Chile to continue its chain there with strong revenues.

3.      Bustillo, Miguel, and Karen Talley. " For Wal-Mart, a Rare Online Success." The Wall Street Journal, 2011: 7.

In this article, author describes that crisis has enhanced several societal drifts that are already in progress: remote working, tech-enabled retail, online shopping and confined supply chain In Wal-Mart grocery sector, several chains need to survive with traffic surge at both online and physical stores, as a customer stock-pile and panic-buyer. Scaling-up the online functions to serve current demand is seems to be hard, getting difficulty in rapidly finding the enough workers with right skills. Wal-Mart should be in position to make its stores model cashless. It should replace cashier-based models with all-in-one no-checkout models. Wal-Mart should use data to determine on-shelf accessibility in a real time and automate replenishment. Wal-Mart must accelerate shares in seamless online to offline experience as well as pro-actively shift applying to online channel in model that assists consumer better and also sustainable for long term. Wal-Mart must have mountable delivery network and technological backbone for flexibility as needed.

4.      Chaudhuri, Saabira. "Wal-Mart to Sell British Unit Asda to U.K. Rival Sainsbury." Wall Street Journa, 2018: 7.

In this article, author explains why Wal-Mart adopted strategy to sell Asda Group to its rival Sainsbury retailing store. There was deal that ideal the chain around £7.3 billion and if it would successful, then it would create largest competitor in UK fiercely modest grocery market.

5.      Daniel, Fran. " Head of Wal-Mart tells WFU audience of plans for growth over next 20 years." Winston-Salem Journal, 2016: 6.

In this article, author explains Wal-Mart would monitor situation on daily basis and would do as need to do for any unfamiliar event. Wal-Mart would monitor what is happening locally to adjust the business policies and operations as needed. Wal-Mart is trying online delivery systems, pay feature options and store pickup options. Wal-Mart would have moves along ecosystem and value chain such as services, vertical integration, payments that became smarter. Wal-Mart would pursue now acquisitions or partnerships with tech talent and tech companies that were possibly more challenging before.

6.      John L. Hick, M.D., and Paul D. Biddinger, M.D. " Novel Coronavirus and Old Lessons — Preparing the Health System for the Pandemic ." The New England Journal of Medicine, 2020: 3.

In this article, author describes Coronavirus is infectious and zoonotic disease that is caused by newly discovered COVID-19 virus and it spreads through belongings and discharge of infected person. According to World Health Organization, Coronavirus virus was emerged in Wuhan city of China on December, 2019 that has infected 110,000 individuals in 110 countries globally. At present, there is no proper vaccine or treatment is available for Coronavirus. Although, there are several clinical trials are ongoing. Coronavirus has affected almost all countries with huge economic loss. Coronavirus has become biggest threat to financial markets and global economy.

7.      Keil, Stanley R., Spector, Lee C. " The Impact of Wal-Mart on Income and Unemployment Differentials in Alabama." Review of Regional Studies, 2015: 20.

In this article, author describes Wal-Mart should encourage self-checkout, minimize cash payments, Wal-Mart must offer smaller payments in terms to make its suppliers in running position. Wal-Mart should share with its associates about details of new policies that give them further flexibility, pay options as well as support if associates are infected by virus. Wal-Mart should implement the free testing facility, paid sick leaves for infected employees and stay at home policy for those workers who are suffering with cold or feeling ill.

8.      Maestri, Nicole. "Wal-Mart awards $2 billion to U.S. hourly employees." Reuters, 2016: 4.

In this article, author describes Wal-Mart requires extra work force to manage its operations in uncertain situations. Moreover in case of any pandemic it is preferable to hire employees on hourly basis to reduce the risk of infection transmission. With the high demand of online shopping, Wal-Mart needs more technical staff and drivers.

9.      Nassauer, Sarah, and Chip Cutter. "Wal-Mart Is Rolling Out the Robots." Wall Street Journal, 2019: 5.

In this article, author describes that crisis has enhanced several societal drifts that are already in progress: remote working, tech-enabled retail and online shopping. Wal-Mart is utilizing robots in the stores to get assistance in monitoring the inventory, cleaning floors and unloading the trucks and vehicles, part of retail giant’s struggles to control the labour cost as Wal-Mart devotes more to increase wages and offers new services such as online grocery delivery.

10.  Purnell, Newley, Eric Bellman, and Corinne Abrams. "Wal-Mart Bets $15 Billion on an E-Commerce Passage to India." The Wall Street Journal, 2018: 9.

In this article, author describes equal challenge is meeting huge spikes for demand on e-commerce related sites with associated efforts to have sufficient drivers for delivery, providing customers correct delivery slots and keeping IT systems in running position. Wal-Mart accelerates shares in seamless online to offline experience as well as pro-actively shift applying to online channel in model that assists consumer better and also sustainable for long term. Wal-Mart with e-commerce is experiencing 700% increase in products demand and incapable to fulfill consumer orders.

11.  Report, Wal-Mart 2019 Annual. "stock.Wal-Mart.com." Wal-Mart, 2019: 55.

In this article, author explains Wal-Mart is multinational retailing company that operates the multiple chains for hypermarkets, department stores as well as grocery stores. Wal-Mart is world's largest retailing company in terms of revenue according to 2019 Fortune Global list with 514.405$ billion. Wal-Mart is largest USA grocery store and 65% of Wal-Mart's sales with 510.329$ billion generate from USA operations. Wal-Mart is embracing technology that sufficient in transportation and warehousing to minimize burden on workers.

12.  Wollam, Allison. "Wal-Mart chooses Houston as test market for Supermercado de Wal-Mart." Houston Business Journal, 2011: 6.

In this article, author describes Wal-Mart as multinational retailing company continues to growing its store chains. Wal-Mart was geographically restricted to South and Midwest in USA but now it is having stores from one coast to other coast. Wal-Mart stores is scheduling to exposed its first Hispanic focused supermarket in Houston as retail hulk continues to grow its supremacy in grocery industry.

Research Project #3: Index of Economic Concepts
1.      Accounting of Effects of Coronavirus on Economy in the context of Wal-Mart

Accounting includes systematic reporting and recording of the business monetary transactions. Accounting is often complicated. So, mostly all retailing companies hire accountants to manage it. Accounting term has used in this assignment for monitoring the cash flow.

2.      Accounts Payable of Effects of Coronavirus on Economy in the context of Wal-Mart

Accounts payable defines the degree of how greatly seller owes creditors for services or goods delivered to seller. Accounts payable term has used in this assignment for monitoring the cash flow.

3.      Accounts receivable of Effects of Coronavirus on Economy in the context of Wal-Mart

Account receivable defines the degree of how much clients or customers owe the business for services or goods that company supply. Its total value provides the snapshot of total owed to business at particular time. Accounts receivable term has used in this assignment for monitoring the cash flow.

4.      Assets of Effects of Coronavirus on Economy in the context of Wal-Mart

Assets refer to collective financial properties of company. These are classified as fixed or current. Short term or Current assets include the inventory or cash. Whereas long term or fixed assets include the land or equipment. Assets term has used in this assignment in the discussion of Wal-Mart’s revenue.

5.      Balance Sheet of Effects of Coronavirus on Economy in the context of Wal-Mart

Balance sheet is financial document that provides the portrait of business liabilities, assets as well as owner’s equity. Balance sheet term has used in this assignment in the recommendations section.

6.      Cash Flow of Effects of Coronavirus on Economy in the context of Wal-Mart

Cash flow is movement of currency in or out for any business. If company owner requires greater flow of cash into business then it requires outflow of expenditures from business. It is also named positive type of cash flow. Cash flow term has used in this assignment for monitoring the Wal-Mart’s cash flow.

7.      Cost and Benefit of Effects of Coronavirus on Economy in the context of Wal-Mart

Perception of cost and benefit is connected to rational choices and rational expectations of customers. In each situation, public tries to increase their benefits whereas reducing their costs.

8.      Customer Value of Effects of Coronavirus on Economy in the context of Wal-Mart

In marketing, customer value term refers to sum of benefits that seller promises to customer and receives as result for customer's related payment.

9.      Liabilities of Effects of Coronavirus on Economy in the context of Wal-Mart

Liabilities are bills that business owes on other entity or person. Like assets, company has to define the liabilities as long term or current. Short term or current liabilities may include some payment payable to the supplier. Mostly, business or company loans are long term debts.

10.  Marketing of Effects of Coronavirus on Economy in the context of Wal-Mart

Marketing is set of activities that company undertakes for promoting the selling of service or product. Marketing comprises advertising, retailing and delivering the products to customers. Some marketing jobs are done by associates in support of company.

11.  Net Loss of Effects of Coronavirus on Economy in the context of Wal-Mart

If total expenses of company surpass total revenues, then it called as net loss for a company. Risk of net loss is the strongest reason to retain company expenditures under control.

12.  Net Profit

If total expenses of company less than total revenues then it called as net profit for a company. This estimate is particularly essential during tax time. That is because company pays self-employment tax as measurement of the net profit.

13.  Optimization

Optimization means most proficient use of the resources cause to undergo certain limitations. It is choice of usage of multiple numbers of resources to examine which resource provides superlative results. Optimization is task of maximization or minimization of objective purpose. It is technique that is employed by producer and consumer as decision-maker.

14.  Owner’s Equity

Owner’s equity typically represented as percentage. Owner’s equity is basically owner’s share in the business assets.

15.  Profit Margin

This is an essential business concept that calculates how much portion of profit company should keep in relation to over-all sales. There are manly three kinds of profit margins such as gross profit margin, operating profit margin and net profit margin. We can calculate profit margin by dividing profit (income minus expenses) by revenue.

16.  Revenue

Revenue is profit produced from the normal business actions and contains deductions and discounts for the returned goods.

17.  Scarcity

Scarcity explains about basic economic issue that world has limited or scarce resources to fulfil the seemingly limitless want. These realism forces individuals to make conclusions for the allocation of resources in most efficient approach with the intention of as many requirements as possible should meet.

18.  Stock and Flow

Stock term has no any time dimension but stock value at the some point of situation is ascertained. Stock variable doesn’t involve any specific requirement for any certain time length. But flow variable contains specific time dimension and it is also related to definite time period.

19.  Supply and Demand

A market structure is obsessed with supply and demand concepts. For example, if more customers need to buy rice then demand for rice would be considered high. Consequently, retailers would charge high for rice and get more profit on average basis by selling low quality of rice.

20.  Supply Chain

Supply chain is basically a network between companies and brokers to generate and distribute the specific item to final consumer. This network comprises on many activities, entities, people, information and resources.

21.  Transferability

Transferability states that goods must be transferable from one individual to another or from one area to other area. Thus, commodity to contain value in an exchange must retain the merits of scarcity, utility and transferability.

22.  Utility Value

Utility refers to worth or value of product. For example rotten eggs don’t have any utility value because they cannot be switched to anything. They possess no value in exchange. Utility term has used in this assignment in the recommendations section.

23.  Value and Price

Value and price terms give similar meaning in communal language. But for economics, the sense of price term is bit different from value term. Price is a value that articulated as money whereas value is articulated in sense of other products. For example, if price of one pen is equivalent to then two pencils, then price for one pen if Rs.10 it means one pencil has price Rs.5. Value is basically relative theory in contrast to price conception. Value and price term has used in this assignment in the recommendations section.

24.  Wealth

Wealth refers to property, money, gold and other holdings. But for economics wealth term is used for describing all items or products that have some value. Wealth term has used in this assignment in the discussion of Wal-Mart’s revenue.

References of Effects of Coronavirus on Economy in the context of Wal-Mart

13.  Barbaro, H.T.a.M., 2015. Walmart Emerges as Unlikely Social Force. Business. New York: The New York Times.

14.  Bustillo, M., 2016. Wal-Mart offers to acquire Chile's largest grocery chain. The Wall Street Journal, p.3.

15.  Bustillo, M. & Talley, K., 2011. For Walmart, a Rare Online Success. The Wall Street Journal, p.7.

16.  Chaudhuri, S., 2018. Walmart to Sell British Unit Asda to U.K. Rival Sainsbury. Wall Street Journa, p.7.

17.  Daniel, F., 2016. Head of Walmart tells WFU audience of plans for growth over next 20 years. Winston-Salem Journal, p.6.

18.  John L. Hick, M.D..a.P.D.B.M.D., 2020. Novel Coronavirus and Old Lessons — Preparing the Health System for the Pandemic. The New England Journal of Medicine, p.3.

19.  Keil, S.R..S.L.C., 2015. The Impact of Walmart on Income and Unemployment Differentials in Alabama. Review of Regional Studies, p.20.

20.  Maestri, N., 2016. Wal-Mart awards $2 billion to U.S. hourly employees. Reuters, p.4.

21.  Nassauer, S. & Cutter, C., 2019. Walmart Is Rolling Out the Robots. Wall Street Journal, p.5.

22.  Purnell, N., Bellman, E. & Abrams, C., 2018. Walmart Bets $15 Billion on an E-Commerce Passage to India. The Wall Street Journal, p.9.

23.  Report, W.2.A., 2019. stock.walmart.com. Walmart, p.55.

24.  Wollam, A., 2011. Walmart chooses Houston as test market for Supermercado de Walmart. Houston Business Journal, p.6.