Browsing through CA Foundation BCK Notes Chapter 3 Business Organizations helps students to revise the complete subject quickly.
Business Organizations – BCK CA Foundation Notes Chapter 3
Students of chartered accountancy course, Management, company secretary course, commerce and other similar courses are expected to be familiar with developments in the corporate sector. They can keep in touch with these developments from financial newspapers (Economic Times, Financial Express, Mint, etc.), journals (Business Today, Business India, Business week, etc.), Business channels on television (Zee Business, CNBC, etc.) and websites of companies.
The Overview of selected Indian and Global Companies is given in this chapter to familiarize the students with the corporate sector. Students can get more information by visiting the websites of the companies.
3.1 Overview of Indian Companies:
Year of Incorporation : 1942
Head Office : Mumbai, India
Chairman : Ashwin Choksi
Chief Executive : KBS Anand
Website : www.asianpaints.com
History : Four friends – Champaklal H Choksev, Chimanlal Choksi, Surya Kant C, Dani and Arvind R. Vakil set up a partnership firm to manufacture and sell paints in 1942. The firm was later on converted into a company. Asian paints has been a market leader in paints since 1967.
Philosophy: The aim of Asian paints is to become one of the top five decorative coatings companies in the world through its expertise in the emerging markets having high growth. It also seeks to build value in industrial coatings through alliances with global partners.
Business portfolio : Asian paints produces and sells wide range of paints for domestic, office .and industrial use. It operates in all the four segments (interior wall finishes, exterior wall finishes, enamels and wood finishes) in decoration paints
Operations : Asian Paints has 26 factories in 19 countries and serves consumers in more than 65 countries. It is India’s largest and Asia’s fourth largest paint company. Its main competitors are Kansai Nerolac Paints, Berger Paints (India) Ltd. & Jenson & Nicholson (India) Ltd. and Shalimar Paints Ltd. The Company employs more them 6000 people and its revenue in 2015-16 was ₹ 15,852 crore.
Developments: In August 2013, Asian Paints acquired 51 % stake in sleek group, a provider of kitchen solutions. In June 2014, the company acquired Ess Ess Bathroom Products Pvt. Ltd. Asian Paints is the winner of “Golden Peacock Award” in paints industry. In 2016 it was ranked 20th best Indian brand. Forbes listed it as the most innovative company in 2016.
Year of Incorporation : 1993
Head Office : Mumbai, India
Chairman : Sanjiv Misra
Chief Executive : Shikha Sharma
Website : www.axisbank.com
History : Unit Trust of India (UTI), Life Insurance Corporation of India (LIC) and public sector general insurance companies jointly set up the Axis Bank in 1993. It began operations as the first new generation private sector Bank in 1994.
Philosophy: Vision: To be the preferred financial solutions provider excelling in customer service through empowered employees and smart use of technology.
Core values : Customer centricity, ethics, transparency, team work and ownership.
Business portfolio : Axis Bank operates in retail banking, corporate banking and international banking segments. It has ten wholly owned subsidiaries.
Operations : Axis Bank is the third largest private sector bank in India. It has 3120 branches and 12922 ATMs in India. It employs more than 50000 people. The Bank provides the entire range of financial services to individuals and business enterprises. It has nine foreign offices. During 2015-16, it had revenues of 50,360 crores.
Developments: Asia money ranked Axis Bank the best domestic bank in 2015. In the same year the Economic Times ranked it No. 1 promising banking brand. In 2017 Axis Bank has been adjudged runner up in best payments initiative by the IBA Banking Technology Awards.
Year of Incorporation : 1945
Head Office : Pune, India
Chairman : Rahul Bajaj
Chief Executive : Rajiv Bajaj
Website : www.bajajauto.com
History: Jamnalal Bajaj set up Bajaj Auto in 1945. It obtained a licence in 1959 to manufacture two wheelers and three wheelers. It became a public limited company in 1961.
Philosophy : Vision : To become a world class vehicle company through value added products for customers
- focus on value based manufacturing
- continuous improvement
- total elimination of waste
- pollution free and safe environment
Operations: Bajaj Auto operates in three segments – motor cycles, three wheelers and low cost cars. It is one of the world’s top manufacturers of motorcycles. It is the world’s largest three wheelers manufacturer. It operates in 50 countries and is India’s largest exporter of motor cycles and three wheelers. It employs 9000 people and clocked revenue of ₹ 22967 crores in 2015-16. Bajaj Auto entered into global alliance with Triumph Motorcycles of UK in August 2017.
Year of Incorporation : 1995
Head office : New Delhi, India
Chairman : Sunil Mittal
Chief Executive : Gopal Vittal
Website : www.airtel.com
History : Sunil Mittal launched Bharti Cellular Ltd. in Delhi 1995 to offer telecom services under the brand name Airtel. It became the first telecom company in India to achieve 2 million mobile subscribers.
Philosophy : Vision : To enrich the lives of customers
Mission : To win customers for life by providing exceptional experience.
Business portfolio : Bharti Airtel operates in all segments – Telemediary digital TV, enterprise solutions, Mobile data services.
Operations : Bharti Airtel is a leading telecommunications company in the world. It operates is 20 countries across Asia and Africa. It is the largest mobile network operator in India and the third largest in the world. It has 400 million subscribes. It employs 25400 people and had revenues of ₹ 966.021 million in 2015-16.
Developments : Bharti Airtel launched its 4G service in Africa in 2015. It also entered into strategic alliance with China Mobile. It acquired Telenor India and 4G business of Trikona Networks. In 2017 Bharti Airtel and millicom combined their operations in Ghana.
Year of Incorporation : 1935
Head office : Mumbai, India
Chairman : Y.K. Hamied
Chief Executive : Umang Vohra
Website : www.cipla.com
History : Khwaja Abdul Hamid founded the Chemical Industrial and Pharmaceutical Laboratories in 1935. The company’s name was changed to Cipla Ltd. in 1984. USFDA approved its bulk drug manufacturing facilities in 1985.
Philosophy : Vision: To be the first global biotech company to provide high quality products at affordable prices that will enable access for millions of patients worldwide by 2015.
Mission : To be a leading health care company which uses technology and innovation to meet everyday needs of all the patients.
Business portfolio : Cipla manufactures more than 200 generic ingredients and about 1300 pharma and personal care products.
Operations : Cipla has 1500 products in more than 60 therapeutic categories. It offers prescription drugs for all kinds of ailments. It sells in more than 150 countries and maintains highest quality standards. It has more than 22000 employees and earned revenue of ₹ 11,965 crores is 2015-16.
Developments : Cipla acquired 75% stake in Mabhuru Private Limited. In 2012 it received the Thompson Reuters India Innovation Awards.
Year of Incorporation : 1984
Head office : Hyderabad, India
Chairman : Kallam Satish Reddy
Chief Executive : G.V. Prasad
Website : www.drreddys.com
History : In 1984 Dr. Reddy’s started producing Active Pharmaceutical Ingredients (APIs). In 1986 it began producing branded formulations. The company launched Violet brand in 1987. It transformed itself from a supplier of pharmaceutical ingredients into a manufacturer of pharmaceutical products.
- To bring expensive medicines within reach
- To address unmet needs of patients
- To help patients manage disease better
- To work with patients to help them succeed.
Business portfolio: Dr. Reddy’s produces both generic and over the counter drugs. In the generic segment, its products include tablets, capsules, injectables and topical creams. In the over-the-counter segment, there are pain relievers, dermatology, allergy and gynaecology medicines.
Operations: Dr. Reddy’s produces and sells a wide range of products (more than 190 medications and 60 APIs. It is an Indian multinational in pharmaceutical industry. In 1999 it acquired American Remedies Ltd. It has more than 20,400 employees and its turnover in 2015-16 was ₹ 15,698 crores.
Developments: Dr. Reddy’s was listed among India’s most trusted brand in 2014.
Year of Incorporation : 1994
Head office : Mumbai, India
Chairman : Deepak S. Parekh
Chief Executive : Aditya Puri
Website : www.hdfcbank.com
History: HDFC Bank was incorporated in 1994 as a private sector bank.
Philosophy: To be a world class Indian bank. Its core values are customer focus, operational excellence, product leadership, people and sustainability.
Business portfolio: HDFC BANK operates in both retail and wholesale segments. It is a part of the HDFC group.
Operations: HDFC BANK has more than 90500 employees. Its revenue in 2015-16 was ₹ 74373 crores.
Developments: In 2000, it acquired the Times Bank. It took over the Centurion Bank in 2008. HDFC Bank was awarded the Best performing Bank in microfinance among private sector banks in 2016.
Year of Incorporation : 1994
Head office : Mumbai, India M.K.
Chairman : M.K Sharma
Chief Executive : Chanda Kochhar
Website : www.icicibank.com
History: Originally, ICICI Limited set up the ICICI Bank as a wholly-owned subsidiary. Later on, the shareholding was reduced through public offer of shares.
Philosophy: Vision: To be the leading provider of financial services in India and a major global bank.
- To be the banker of first choice for our customers by providing high quality, world class services.
- To expand our business globally.
- To maintain a healthy financial profile and diversify our business.
- To maintain high standards of governance and ethics.
- To create value for our stakeholders.
- To contribute to the countries and markets in which we operate.
Business Portfolio: ICICI Bank has all types of banking products and services.
Operations: ICICI Bank is the largest private sector bank with a network of 4850 branches and 13582 ATMs across India. It has branches in several countries abroad. It has more than 75000 employees and in 2015-16 its revenue was US $ 10.3 billion.
Developments: ICICI Bank acquired the Bank of Rajasthan in 2010. It was ranked first among private sector banks in 2016.
Year of Incorporation : 1981
Head Office : Bengaluru, India
Chairman : Nandan Nilekani
Chief Executive : S.S. Parekh
History : N.R. Narayan Murthy and six other software engineers founded Infosys Consultants Pvt. Ltd. in 1981 with a capital of ₹ 10,000 in Pune. In 1983 the company’s head office was shifted to Bengaluru. In April 1992 its name was changed to Infosys Technologies Pvt. Ltd. In June 1992 it became a public company and was renamed Infosys Technologies Limited. In June 2011, its name was changed to Infosys Limited.
Philosophy Vision : To be a globally respected corporation that provides best of breed business solutions, delivered by best in class people leveraging technology.
Mission : To achieve our objectives in an environment of fairness, honesty, and courtesy towards our clients, employees, venders and society at large.
Business Portfolio : They key products of Infosys are:
- Mana-Knowledge based AI platform
- Infosys Information Platform (IIP)
- Finacle-Global banking platform
- Edge Venue Systems
- Panaya Cloud Suite
The company provides software development, maintenance and independent validation services.
Operations : Infosys is a multinational corporation that provides business consulting, information technology and outsourcing services. It is a global leader in technology and consulting services. It has 85 marketing officers and 114 development centres in 50 countries. Its employees are more than 2 lakhs and its revenue in 2015-16 was US $ 10.21 billion.
Developments : Infosys took over Noah-consulting of USA in November 2015. In March 2015 it acquired Panaya Inc and Skava in June 2015
Year of Incorporation : 1910
Head Office : Kolkata, India
Chairman Chief : Y.C. Deveshwar
Executive : Sanjiv Puri
Website : www.itcportal.com
History: In 1910 Imperial Tobacco Company of India Private Limited was set up. It was converted into a public limited company in 1954. In 1970 its name was changed into Indian Tobacco Company Limited which was renamed as ITC Limited in 1974.
Philosophy: Vision : To sustain ITC’s position as one of India’s most valuable corporations through world class performance, creating great value for the Indian economy and company’s stakeholders.
Mission: To enhance the wealth generating capability of the enterprise in a global environment, to deliver superior and sustainable stakeholder value.
Core values : Trusteeship, customer focus, respect for people, excellence and innovation.
- Tobacco products
- paper boards and packaging
- fast moving consumer goods
- Information technology
Operations: ITC Ltd. is an Indian conglomerate. It is rated among the world’s best companies. Forbes Magazine rated it as world’s most reputed company. It was rated India’s most admired company” by fortune magazine. ITC is among fastest growing fast moving consumer goods companies in India. It has more than 32000 employees and its revenue in 2015-16 was ₹ 53748 crores.
Developments: ITC has been recognised for its e-choupal initiative, corporate Social Responsibility, corporate governance and most trusted brands.
Year of Incorporation : 1938
Head office : Mumbai, India
Chairman : A.M. Naik
Chief Executive : A.M. Naik
Website : www.larsentoubro.com
History: Two Danish engineers taking refuse in India founded L&T in 1938.
Philosophy: To be a professionally managed Indian multinational, committed to total customer satisfaction and to enhance shareholder value.
Business Portfolio: L&T is a highly diversified global company. It has more than ten segments such as construction, heavy engineering, power, technology, etc.
Operations : L&T has 130 subsidiaries and 15 associate companies. It has manufacturing facilities in more than 8 countries and customers in 30 counties across the world. It has more than 1,10,000 employees and its revenue in 2015-16 was ₹ 1,02,632 crores.
Developments: Forbes ranked L&T among the world’s 2000 largest and most powerful companies. It has been awarded for leadership, quality and governance. Harvard Business Review named A.M. Naik as 32nd best performing CEO in the world.
Year of Incorporation : 1966
Chairman : Mumbai, India
Chief Executive : Mukesh Ambani
Website : Mukesh Ambani www.ril.com
History: Dhirubhai Hirachand Ambani founded Reliance Commercial Corporation in 1961. In 1966, Reliance Textiles Industries Private Limited was incorporated. In 1975 it became a public Limited company. In 1985 Reliance Textile Industries Ltd. was renamed Reliance Industries Ltd. (RIL)
Philosophy : Vision : To touch the lives of people in a positive way through inclusive growth.
Mission: To grow as a responsible organisation that believes in enriching the lives of those around it
Business Portfolio : Textiles, petrochemicals, petroleum, life sciences, telecommunications, mass media, retail.
Operations: RIL is a conglomerate and India’s largest private sector company. It has more than 24,000 employees and more than 30 lakhs shareholders. Its revenue in 2015-16 was ₹ 2960 billion.
Developments: RIL acquired TV 18 Broadcast in May 2014. It was ranked 215th in the Fortune Global 500 corporations in 2016. Forbes ranked it 121st in the world’s largest corporations. Platts ranked it 8th among the top 250 global energy companies. In 2017, RIL launched its JIO telecommunications service.
Year of Incorporation : 1806
Head Office : Mumbai, India
Chairman : Rajnish Kumar
Chief Executive : Rajnish Kumar
Website : www.sbi.in
History: In 1806 the Imperial Bank of India was founded in Kolkatta. In 1955 it was renamed State Bank of India.
Philosophy : Vision : My SBI, My customer first, My SBI: First in customer satisfaction
Mission : We will be:
- Pompt, polite and proactive with our customers
- Speak the language of young India
- Create products and services that help our customers achieve their goals
- Go beyond the call of duty to make our customers feel valued
- Be of service even in the remotest part of our country
- Offer excellence in services to those abroad as much as we do to those in India
- Imbibe state of the art technology to drive excellence.
Business portfolio : SBI operates in personal banking, NRI services agriculture, corporate banking, small and medium enterprises, government business and interest rate services.
Operations : SBI is the largest commercial bank. It is a multinational banking and financial services company with majority membership with the Government of India. SBI has 14 regional hubs, 57 Zonal offices, 14000 branches and 58500 ATM all across the country. In addition, it has 191 foreign offices spread across 36 countries. It has more than 2,22,000 employees and its revenue in 2015-16 was ₹ 273460 crores.
Developments : On April 1, 2017, five associate banks merged into SBI. In 2013, SBI was ranked 50th most trusted brand in India. It was listed 232nd among fortune 500 global corporations. Forbes ranked SBI 29th most reputed company in the world in 2009.
Year of Incorporation : 1868
Head Office : Mumbai, India
Chairman : Natrajanchandra Sekran N.
Executive : Chandrasekaran
Website : www.tata.com
History : Tata Sons Ltd.
Philosophy : Values : Integrity, excellence, unity and responsibility
Mission : To improve the quality of life of the communities we serve globally through long-term stakeholder value creations based on leadership with trust.
Business portfolio: Tata Sons Ltd. is the holding company of 29 publicly listed companies in the Tata group. The group operates in steel, vehicles, defence, aerospace, realty and infrastructure, consumer and retail, financial services, hotels, airlines, telecommunications, information technology, etc.
Operations : Tata Sons is India’s biggest conglomerate. It is a global giant comprising more than 100 companies. It operates in more than 100 countries across six continents.
Developments: Tata Steel acquired Corns of UK in 2007, Tata Motors took over Jaguar and Landrover brands. Tata Chemicals acquired British Salt in 2010. Tata Power acquired Welspun Renewables Energy in 2016 and Energy Projects Limited in 2014. Tata Sons has decided to convert itself into a private company on 20th September 2017.
Year of Incorporation : 1945
Head office : Bengaluru, India
Chairman : Azim Premji
Chief Executive : Abidali Neemuchwala
Website : www.wipro.com
History : Mahamed Premji founded Western India Palm Refined Oil Limited on December 29, 1945 in Jalgaon, Maharashtra. Later on the company was renamed Wipro Products Limited in 1980. Wipro entered information technology sector and its name was changed in 1982 into Wipro Limited.
Philosophy : Vision : To be among the Top 10 global IT and BPO services company.
Mission : To create a new kind of professional services firm that works with both business and IT executives to innovate and deliver, end-to-end solutions that create reasonable value for own clients.
Business portfolio : Analytics, digital cloud, application, business process consulting, enterprise architecture, eco-energy, information management infrastructure, internet of things, mobility, open source and product engineering.
Operations : Wipro Ltd. is a global IT, Consulting and outsourcing company with clients in more than 175 cities across 6 continents. It has more than 55 centres of excellence to harness the latest technology. Wipro is recognised for its innovative approach all over the world. The company has strong commitment to value creation and
sustainability. It has more thart 1,75,000 employees and its revenue in 2015-16 was US $ 7.7 billion.
Developments: Wipro was ranked number one in sustainability in 2010. It was ranked 155th in Forbes Global list of 2010 companies in 2016. It was recognised as one of the world’s most ethical companies six times.
India’s Top Business Groups:
Mukesh Ambani: Source: Capital Line
3.2 An Overview of Selected Global Companies:
Year of Incorporation : 1850
Head office : New York, USA
Chairman and CEO : Kenneth I. Chenault
Website : www.americanexpress.com
History : American express was founded in 1850 as an express mail business.
Philosophy : Vision : To be a leading provider of payment solutions worldwide.
Mission: To leverage our local and global expertise to be a leading provider of payment solutions by delivering high quality, innovative and world class products and services, while maintaining the highest standards of governance and ethics.
Business portfolio : American Express operates in both card and non-card segments.
Operations : American Express has 2300 offices in 175 countries across the world. It has several subsidiaries and employs over 56000 people. Its revenue in 2015-16 was US $ 32.119 billion. American Express set up its first office in India in 1921 at Kolkata. Since then it has become the leading banking and travel related services. It is considered a pioneer in’off-shoring processes to captive centres in India.
Developments : In 2016, American Express was ranked the 25th most valuable brand in the World. In 2017 it was ranked as the 17th most admired company worldwide.
Year of Incorporation : 1976
Head office : California, USA
Chief Executive : Tim Cook
Website : www.apple.com
History : Steve Jobs, Steve Wozniak and Ronald Wayne founded Apple Computer Inc. in January 1977 to develop and sell personal computers. In January 2007 it was renamed as Apple Inc. to reflect its shifted focus towards consumer electronics.
Philosophy: Vision : To produce high quality, low cost, easy to use products that incorporate high technology for the individuals.
Mission: To bring the best personal computing experience to students, educators, creative professionals and consumers around the world through innovative hardware, software and internet offerings.
Business portfolio: Apple operates in Mac, iPad, iPhone, Watch, TV and Music segments. It operates the online Apple Store. Its Tunes store is the world’s largest online music retailer.
Operations: Apple is the world’s largest information technology multinational. It is the world’s second largest mobile phone manufacturer. It maintains 478 retail stores in 17 countries. It has more than 120,000 employees and its revenue in 2015-16 was US $ 215.369 billion.
Developments : In August 2014 Apple acquired Beats Electronics. It was ranked 8th among Forbes World’s Biggest Public Companies in 2016. It ranked 9th in Fortune 500 Global Companies same year.
Year of Incorporation : 1939
Head office : California, USA
Chairman : Dion Weisler
Chief Executive : Dion Weisler
Website : www.hp.com
History : William Redington Hewlett and David Packard founded HP in 1939 in a car garage in Palo Alto to produce electronic test equipment.
Philosophy: To create technology that makes life better for everyone, every where every person, every organization and every community around the globe.
Business portfolio: Major product lines of HP include personal computing devices, enterprise and industry services, related storage devices, networking products. Software, Printers imaging products. It sells to households as well as to-organizations.
Operations: HP is a global information technology company. It develops and sells a wide variety of hardware, software and related products.
Developments : In 2015 HP split its PC and printers business from enterprise products and services business. It resulted into two companies. HP Inc. and Hewlett Packard Enterprise.
Year of Incorporation : 1911
Head office : New York, USA
Chairman : Ginni Rometty
Chief Executive : Ginni Rometty
Website : www.ibm.com
History: On June 16, 1911 four Companies were amalgamated to form the Computing Tabulating Recording Company. It was renamed International Business Machines in 1924. Later on the name was changed as IBM corporation.
Philosophy: Vision: To be the first and foremost on any new enterprise data centre migration short-list.
Mission: To be the leader in innovation, development and manufacture of the industry’s most advanced information technologies, including computer systems, software storage systems and micro-electronics.
Business portfolio: IBM operates in both products (analytics, cloud, commerce, Internet of things, security mobile, security, industry solutions, etc.,) and services business consulting, technology, financing, training etc.,/segments.
Operations: IBM is a global technology company with operations in more than 170 countries. It is a major research organization holding the record for most patents. It has more than 380000 employees and its revenue in 2015-16 was US $ 79.20 billion. It has a subsidiary IBM India Pvt. Ltd. in India since 1992.
Development: IBM acquired Lombard in 2009, Sanovi Technology in 2016 and Agile 3 Solutions and Ravy Technologies in 2017. It is ranked 82nd in Fortune 500 global companies.
Year of Incorporation : 1975
Head office : Washington, USA
Chairman : John Thompson Satya
Chief Executive : Nadella
Website : www.microsoft.com
History: Paul Allen and Bill Gates founded Microsoft on April 4,1975. It entered OS business in 1980. It rose to dominate the personal computing with MS-DOS. Since 1990 it has diversified.
Philosophy: Vision: To help individuals and businesses realize their full potential.
Mission: To be a global organization by providing products/services of value for the target market.
Business portfolio: Software and services, devices and Xbox, business developers and IT, for students and educations are the major segments for which Microsoft has products.
Operations: Microsoft is a multinational technology company. It is best known for its software products like Windows, Office, Internet Explorers and Edge Web browsers. It is the largest software maker in the world. It has more than 115000 employees and its revenue in 2015-16 was US $ 85.32 billion. Microsoft Corporation of India was set up 1990. It has six major business units.
Developments: Microsoft acquired Skype Technologies in 2011, mobile hardware division of Nokia in 2014 and Linked in 2016.
Year of Incorporation : 1866
Head office : Vevey, Switzerland
Chairman : Peter Brabeck Letmathe
Chief Executive : Mark Schneider
Website : www.nestle.com
History: Henri Nestle founded Angloswiss Condensed Milk Company in 1866. In 1879, it merged with milk chocolate inventor Daniel Peter. In 1905 the company was renamed Nestle. It entered India in 1923.
Philosophy: To provide consumers with the best tasting, most nutritious choices in a wide range of food and beverage categories and eating occasions from morning to night.
Business portfolio: Nestle has popular brands in bottled water, cereals, health, skincare, pet care, coffee, etc.
Operations: Nestle is a global food and drink company. It is the world’s largest food, nutrition, health and wellness company. It has 2000 plus brands across the globe. It operates 418 plants in 86 countries. Its products are available in 191 countries. It employs 3,35,000 people and its revenue was 89.8 billion Swiss Frank in 2015-16.
Developments: Nestle acquired San Pellegrino, Spillers Pet Foods, Ralston Purina, Chief America, Delta Ice cream, Hsu Fachi, Vitablo and Prometheus Laboratories. It ranked 66th in Fortune 500 and 33rd in Forbes 2000 companies in 2016. It has joint ventures with General Mills, Coca Cola Company, Lactalis and Colgat Palmolive.
Year of Incorporation : 1962
Head office Chairman : Arkansas, USA Greg
Chief Executive : Penner Dough Mcmillion
Website : www.walmartstores.com
History: Sam Walton founded Walmart in 1962. It was incorporated on October 31, 1969.
Philosophy: Vision: To be the best retailer in the hearts and minds of consumers and employees.
Mission: Saving people money so that they can live better, Tagline: Save money Live better.
Business portfolio: Walmart sells a wide range of products such as groceries, foods, fruits and vegetables, personal and house care, clothing’s, office supplies and general merchandise. It is organized into four divisions.
Operations: Walmart is a multinational that operates a chain of hyper markets, discount stores, grocery stores and online stores. It is world’s largest retailer. It has 11695 stores in 28 countries. It has more than 23,00,000 employees and its revenue was $ 485.87 billion in 2015-16. Walmart India has 21 stores which sell 5000 items in 9 States. It launched B2B e-commerce platform on July 1,2014.
Developments: Walmart acquired Moose Jaw and Bonobos, and jet.com. It is number 1 company in Fortune 500 list and was ranked 15th on Forbes Global list 2000.