Thursday, February 09, 2006

02/07/06
Research Paper proposal

Wal-Mart and banking

I became interested in the expansion of Wal-Mart because I know that Wal-Mart is getting into other business a lot. Especially, I’m interested in its starting in the banking business. If Wal-Marts are going to start banking, Wal-Mart and the consumer will have a lot of benefits and it is going to be convenient for people. However, there are also a lot of problems with making banking in Wal-Mart. According to D. Irvin (2005), Wal-Mart wants to have banking in their stores, which would make more customers attend. Wal-Mart has more than one thousand bank branches. Workers of banks can mostly about their job; Small bank owners are very worried about Wal-Mart though. Wal-Mart failed because small bank owners didn’t want that to happen; government didn’t either. Although there are people who disagree with Wal-Mart’s making banks in their stores, Wal-Mart believes it’s a good deal for both the Wal-Mart companies and customers. Wal-Mart has been known for their ongoing growth and expansion and would do anything to have their customers continue to return. M. Barbaro (2005) also said that the small banks are worried about Wal-Mart’s bank taking over their business and causing them to lose customers. They are afraid that Wal-Mart will build other banks, and afraid because Wal-Mart has a lot of customers. However, Wal-Mart is still continuing to build banking.

I plan on writing that we should encourage banking in Wal-Mart for three things. There are a lot more benefits than disadvantage. First, if there is a bank in Wal-Mart, it’s very convenient for customers because people can take out money from the bank at the same time as shopping. Next, if there is a bank in Wal-Mart, customers can buy goods which have a lower price than before, because of no charge for other banks. Finally, if there is a bank in Wal-Mart, it can sell market things and loan money in Wal-Mart. It’s very convenient for customers, because we can buy goods by using loan money.

I have found a variety of articles that give background information on the expansion of Wal-Mart, and have found a good article that helps to describe the problem. I still need an article about why it’s good to make a bank in Wal-Mart.

Reference:

Barbaro, M. (2005, Oct.15). Bankers oppose Wal-Mart as rival. The New York Times. Retrieved from Lexis-Nexis, Jan-28, 2006.

Irvin, D. (2005, Sep. 1). Bankers warily watch Wal-Mart. Montgomery Advertiser. Retrieved from Lexis-Nexis, Jan-23, 2006.

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