Wal-Mart Stores Inc

Wal-Mart Stores Inc is an American multinational retailer that has large discount and warehouse stores, which was founded by Sam Walton, a businessman from Arkansas, who’s goals include great value and great customer service. Sam Walton wanted to give his customers a place where they can buy items at a lower price than anywhere else. This basic strategy has shaped Wal-Mart's culture and driven the company's growth. (Caroline Wilbert, 2006). Sam Walton wanted his customers to” save money and live better”, which was his secret of his stores success.

Wal-Mart services over 200 million customers and members each week. They have customers in retail outlets, and online.

Wal-Mart is in the business of selling everything customers need in everyday lives, such as food, electronics, and clothing. Wal-Mart is under 69 names and in 27 different countries. In the US it’s name is under Wal-Mart, while in Mexico, Walmex, in the United Kingdom as Asda, in Japan as Seiyu, and in India as Best Price.

Working outside the US, Wal-Mart investments has mixed results, which include, in the United Kingdom, South America and China are highly successful, while in Germany and South Korea are unsuccessful.

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Many countries strive to attract foreign direct investment (FDI) because of its acknowledged advantages as a tool of economic development. Nigeria joined the rest of the world in seeking FDI as part of the New Partnership for Africa’s Development, which has attracted foreign investors to Africa as a major component.

For Nigeria economy to grow it depends on Foreign Direct Investments which has been the carrier of new knowledge and related technology innovations. This calls for new technology spill-over through foreign investments ( Abubakar Tafawa, 2008).

There are several advantages of using FDI in a country such as Nigeria. FDI plays a crucial role in industrial development of the developed and developing countries, which can boost the economic growth through total factor productivity growth. FDI is the crucial framework of the overall national strategy for industrialization ( Frank Bartels,

2009).

Another advantage of using FDI in Nigeria is that it has assumed a prominent place in the strategies of economic growth being advocated by policy makers at the national, regional and international levels because it is considered to be the major key in bringing the technology