Elements of Walmart's strategy have evolved in meaningful ways since the company's founding in 1962. Prepare a one- to two-page report that discusses how its strategy has evolved after reviewing all of the links at Walmart's About Us page, which can be found at walmartstores.com/AboutUs/. Your report should also assess how well Walmart's strategy passes the three tests of a winning strategy.

Walmart has staked out the low-cost leadership position in their market and are dominating the competition. Their gross profit margins continue to grow as a percentage of sales indicating a focus on cost control with 2010 gross profit margin of 24.8%. This is a steady yearly increase over the last five years starting with 23.1% in 2006. Walmart continues to maintain market growth despite the recent global economic challenges is a clear indication that their strategy is well matched to both industry and competitive conditions. Total 2010 revenue of $405.0B up from 2009's $401.17B revenue demonstrates the effectiveness of their value proposition, while an operating income of $23.95B demonstrates the efficiency of their operations.

From the information provided, which tests of a winning strategy does McDonald's strategy pass?