Unit 2-Assignment 2-Case Study Part 1GB518 Financial Accounting Principles and AnalysisBrad FriedmanProf Leon GroveMay 20, 2014IntroductionWhen it comes to running and managing an effective business operation, there are many considerations important to be aware of. Whether you are a small business or a conglomerate, it is crucial to maintain a strong competitive advantage. This basically means that there must be something that differentiates the company from the rest of the competition, such as the products and services offered. In many industries, the market is highly saturated with strong competition, such as in the accounting/tax industry. Many products and services are offered in this sector, including similar ones. Some companies are highly successful, while others have minimal success or fail completely. For this assignment, I used Walmart as an example of an organization that is a major player in the U.S. economy. They have been in operation since 1962 and their services are numerous, including retail, grocery, electronics and home improvement. Walmart is considered the largest among all retailers, so it truly belongs to the retail industry. However, they face many challenges from industry competitors, such as Target, Big Lots, and Costco. Mr. Sam Walton (founder of Walmart), however, has achieved incredible success for Walmart in the retail market with an ever-expanding customer base. It began its business in 1945 from a branch of Ben Franklin Stores, focusing on selling products at lower prices to achieve higher sales volumes with lower profit margins. Walmart Inc. was officially founded in 1962 as a company… ... middle of paper ... highlighted by recently reported total revenue data. According to Walmart's February 2014 press release, "total revenue was $129.7 billion, an increase of $1.9 billion, or 1.5 percent, over last year" (Walmart Corporate, 2014). Walmart Corporate References (February 20, 2014). Walmart Corporate - Walmart reports fourth quarter underlying EPS of $1.60, fiscal 2014 underlying EPS of $5.11. Retrieved May 19, 2014, from http://news.walmart.com/news-archive/investors/2014/02/20/walmart-reports-q4-underlying1-eps-of-160-fiscal-2014-underlying1-eps - of-511Wal-Mart Stores, Inc. Form 10-K (March 21, 2014). NYSE, New York Stock Exchange > Listings > Wal-Mart Stores, Inc. Listing Directory. Retrieved May 18, 2014, from http://secfilings.nyse.com/filing.php?doc=1&attach=ON&ipage=9482653&rid=23Wild, John J. (2012): Financial Accounting: Information for Decisions