- April 22, 2014
- Posted by: essay
- Category: Term paper writing
The purpose of the present paper is to provide a comparison of executive summaries of two leading nation’s companies: The Allstate Corporation and Wal-Mart Stores, Inc. It. It is clear that both companies have gained the recognition and achieved significant success in their business sectors.
The Allstate Corporation was founded in 1931 and was a part of another corporation Sears, Roebuck and Co. It became an independent insurance company in 1993. As for Wal-Mart Stores, Inc., it also has a long history, it was founded in 1962.
Nowadays the Allstate Corporation is known as the US’s largest publicly held personal lines insurer and the second-largest personal lines insurer in total. The number of its customers is approximately 16 million households. The brand names used by the Allstate Corporation include Encompass, Esurance and Answer Financial. Â (“The Allstate Corporation”ť) Allstate Corporation’s business is concentrated on the US and Canada territiries. The structure of business of the Allstate Corporation consists of three business sectors such as:
- Non-life insurance which brings the Allstate Corporation 85.4% of its income. Thus business activity involves automobile, home, accident, property damage, and civil liability insurance;
- Life insurance allows the Allstate Corporation obtaining 14.3% of its income mainly though the sale of savings, retirement, preplanning, and health policies.
- In addition, the company is also involved into banking and asset management services.
Wal-Mart Stores, Inc. is known as one of the world’s largest public corporations and the largest retailer in the world. It is a multinational retailer business with the headquarters in the US. The business of Wal-Mart Stores, Inc. consists of chains of large discount department stores and warehouse stores. (“Wal-Mart Stores”ť)Â Â Additionally, it has to be particularly noted that Wal-Mart Stores, Inc gains approximately a half of its profits from grocery business; basically it is the largest grocery retailer in the US. As for the brand names used by Wal-Mart Stores, Inc., they include Walmart (in the United States), Walmex (in Mexico), Asda (in the United Kingdom) Seiyu (in Japan), Best Price (India) and others. This description of the various brands used y Wal-Mart Stores it makes it clear that Wal-Mart Stores, Inc in comparison with the Allstate Corporation is a corporation that pays significant attention to the development of its externalÂ markets business activities. Overall, this family-owned retailer operates 8,500 stores in 15 countries, and 55 different brand names are being used by Wal-Mart Stores, Inc. (“Wal-Mart Stores”ť) Â It needs to be mentioned that not all of international businesses of Walmart are considered successful; some of them brought disputable results, for instance its business projects in Germany and South Korea. As for the structure of Wal-Mart Stores, Inc.’s business, it is divided into two major sectors: distribution in the United States and Porto Rico that provides approximately 70% of company’s profit and international distribution which brings an0ther 30% ofÂ Â profits.
In terms of the priorities of the social responsibility of the Allstate Corporation, the company concentrates its efforts on strengthening the local communities through the activities of its specially founded The Allstate Foundation. It is known for providing millions of US dollars to nonprofit organizations in the US as a help to support the communities.
It is also known that the Wal-Mart Stores, Inc. is often criticized by various organizations and groups for its business practices and employment policies.