What is Walmart and what is its vision and mission? Walmart is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. The company was founded in 1950 by Sam Walton in Bentonville, Arkansas. Today, Walmart is the largest retailer in the world. Walmart's vision is to be the best retailer in the hearts and minds of consumers and employees. Its mission is to save people money so they can live better lives. The company achieves this by selling commodities at reduced prices, which helps consumers save money. Walmart's values are service to the customer, respect for individuals, striving for excellence, and action with integrity. The company fosters a culture of integrity and upholds policies for ethical behaviour everywhere they have operations. Walmart's leadership is committed to sustainable practices and has taken measures to become more ethical, socially, and environmentally responsible. In 2010, Walmart acquired majority shareholding (51%) in Massmart Holdings Ltd, a South African retail group that owns brands such as Game, Makro, Builders, and Cambridge Foods. Walmart's business strategy is based on cost leadership, with the aim of offering the widest choice of products for the cheapest price while giving customers the opportunity to choose the most convenient channel to facilitate the purchase. Organizational culture is the shared values, beliefs, and assumptions that shape how people behave and interact within an organization. There are typically three layers of organizational culture that shape how an organization operates: