Walmart joint venture with Big C Thailand Essay

Walmart joint venture with Big C Thailand - Essay Example These evidences are gathered with the help of strategic tools such as PESTLE analysis of Thailand which would be helpful in providing an inside into the fundamental human resources requirement and the potential candidates from within Thailand to fill the new job places. The human resource practices of Wal-Mart will also be evaluated with respect to the impact of the business environment on the global horizon. To support the evidences presented in the report, the author will provide theoretical background pertaining to international human resource management and see if Wal-Mart’s human resource function are in accordance with the international standards or are there any changes required in the strategic human resource management of the retail giant. The author would conclude this report by demonstrating the skill set and personality traits. These traits are required to achieve organizational goals and objectives successfully. It is possible with the help of strengthening the re lationship with the colleagues. International Human Resource Strategy Overview of Thai Retail Sector The net worth of Thai retail sector stands at Baht 1.4 trillion as of 2011 and is considered an important pillar of country’s economy. The sector reported a sector growth of 5% by the end of 2011 with the Retail Sale Index of 186.5 for the same period. Due to the economic reforms introduced by the government in post-political crisis scenario has helped the sector gain strength, the major contributor being the export sector within the retail industry (Thailand Retail, Food & Hospitality Services, 2011). PESTEL Analysis of Thailand Political Environment After the political crisis stretching from 2008 to 2011, Thailand is on the road to recovery and brings stability in its infrastructure to invite tourists to the country, which has always remained the focal industry of Thailand, and open new doors for business. The positive political outlook and the development of infrastructure along with the security provided to the individuals (Henry, 2008), Thailand is considered as shoppers’ heaven and both nationals and foreigners spend enormous amounts on the purchase of items available at retail stores. Economic Environment Majority of Thailand’s economy depends upon the gross domestic product of the manufacturing sector which accounts for about two third of Thailand’s exports. Whereas, exports are the area which generates most of revenue for Thailand’s government and the country is considered as one of the biggest exporters of manufactured goods in the world. The reforms introduced by the New Government in Thailand have helped the economy to stabilize. Since coming out of the recent political disturbance, Thailand has invested $ 57 billion on the development of infrastructure for local and international businesses (Naranlala School of Industrial Management and Computer Science, 2013; Trueba, Esteban, 2011). Society/Culture of Thailand Ye ars of political and economic crisis within the country had produced the urge to achieve national goals and objectives amongst the Thai society. For this reason, Thai businessmen and working class is considered as hard workers so that they can achieve what they want. Merit regarded as being essential for qualifying for fields in the life. Huge number of foreigners, some of them residing within the country and the majority of them coming into Thailand as tourists, has