Corporate Planning and Organizational Growth of Wal-mart : Report
Added on 2020-01-16
86 Pages22954 Words127 Views
Business DevelopmentFinanceLeadership ManagementProfessional DevelopmentDesign and CreativityData Science and Big DataStatistics and ProbabilitySociologyPolitical Science
|
|
|
CORPORATE PLANNINGAND ORGANIZATIONAL GROWTH
ABSTRACTCorporate planning may be defined as a process which is undertaken by the firm with the aim to attain long term goals andobjectives. In this, team of higher management makes in-depth analysis of both internal and external business environment with themotive to build highly realistic as well as suitable framework. Corporate planning is highly concerned with making effective use ofresources to the large extent. Moreover, in the dynamic business environment company can gain competitive edge over others onlywhen it offers products and services in accordance with need as well as expectation level of the customers. For this dissertation, Wal-mart has been selected which is one of the leading retail business organization that offers wide range of retail products to thecustomers. Providing customers with the high value of money is one of the main objectives of business organization. In this, deductiveapproach and positivism philosophy has been used by the scholar with the aim to conduct quantitative investigation more effectively.Besides this, SPSS tool has been employed by the scholar to derive the suitable solution from primary data gathered through themeans of survey. It has been identified from such investigation effective use of financial and non-financial resources are highlyinfluenced from the plan developed by Wal-mart. In this way, by making proper forecast of each and every aspect business unit canensure high level of growth and development.
ACKNOWLEDGMENTI would like to give thanks to all those who dedicatedly have ensured the completion of this work. I am particularly grateful forthe hard work, devotion to duty, the love and tolerance shown me by my administrator. Besides this, special thanks go to my familyand friends for their assistance and co-operation in my whole study.
qqTable of ContentsChapter 1 Introduction.................................................................................................................................................................................6Research Background..............................................................................................................................................................................6Statement of the problem.........................................................................................................................................................................8Research aims and objectives..................................................................................................................................................................9Research questions...................................................................................................................................................................................9Scope of the study..................................................................................................................................................................................10Hypothesis of the study.........................................................................................................................................................................11Research design and methodology........................................................................................................................................................11Tool of Analysis....................................................................................................................................................................................11Limitations.............................................................................................................................................................................................12Chapter 2 Literature Review......................................................................................................................................................................13Concept of corporate planning...............................................................................................................................................................13Effect of corporate planning on organizational growth.........................................................................................................................15Relationship between the corporate planning and organizational growth.............................................................................................19Barriers in corporate planning...............................................................................................................................................................22Solutions to overcome the barriers and the way to increase organizational growth.............................................................................26
Chapter 3 Research Methodology.............................................................................................................................................................29Introduction............................................................................................................................................................................................29Research design.....................................................................................................................................................................................29Sampling................................................................................................................................................................................................31Data collection.......................................................................................................................................................................................32Hypothesis testing..................................................................................................................................................................................33Tool of analysis......................................................................................................................................................................................35Strategies implied..................................................................................................................................................................................35Summary................................................................................................................................................................................................36Chapter 4 Analysis and Interpretation.......................................................................................................................................................37CHAPTER 5:CONCLUSION AND RECOMMENDATIONS................................................................................................................735.1 Conclusion.......................................................................................................................................................................................735.2 Recommendations............................................................................................................................................................................76References..................................................................................................................................................................................................79APPENDIX................................................................................................................................................................................................83
Chapter 1 IntroductionResearch is a wide term that involves in-depth and thorough research of a subject matter and it also enhances comprehensivepower of the researcher from diverse contexts. The chapter of introduction is briefly discussing the topic along with the aim andobjectives of the research work. Further, to specify the topic in clear manner, researcher has discussed background and overview ofthe study. Tools of analysis, research design and research methodologies are also discussed in the initial chapter of the study. Thechapter is essential for the overall study because it aids in giving detailed idea about the content that should exist in the research work.Proper framework has been followed for the research work so as to include all the sections in appropriate way. This not only enhancesresearch capability; but also it leads to cover all the dimensions that are important for the study. Research BackgroundThe success of the organization depends upon many aspects and this can also help in enhancing growth and success facets.Corporate planning is a process that is used to map out a course of action that ensures to enhance growth, revenue and profitabilityaspects. Large corporations have employees which are highly devoted to the organization and which also enhances proficiency of thebusiness entity. Effective planning is essential and management of the business entity needs to ensure that all the concepts areappropriately managed and core facets are also identified in the same manner (Sahay, 2015). Planning and management both areessential for the purpose of comprehending organizational work facets and this can also aid in maximizing the growth and successfacets. In this respect, the concept of corporate planning can be executed which is a key aspect to the management process. It also aidsin strategic management which is a vital source through which long term objectives can be attained. At the same time, it also leads toenhancing sales and profitability facets. Therefore, it can be said that corporate planning is a strategic tool that is used by the business entities for the purpose of settinglong term plans and objectives. Corporate plans are similar to strategic plans; however greater emphasis is laid on using internalresources which can also streamline organizational operations. At the end this ensures to attain organizational aims and objectives.
Corporate plans are essential business plans which seek to make improvement and this also aids in generating profits through propermanagement of internal business organization. Most of the corporate plans aids the companies to grow during a specific period of timewhich also results in enhancing customer base and profitability management (Coulson-Thomas, 2014). Corporate plans are generallydeveloped on structured basis through integrating with the vision, mission and objectives of the organization. After considering thesame facet, companies need to develop a layout of plan of action so that desired aims and objectives can be met. Corporate plans are created and used by businesses and are most commonly used by large organizations which typicallyconsists of a vision statement, mission and objective statement. Through this, long term and mid-term strategic objectives can bedeveloped. Corporate planning is also responsible to provide appropriate direction to the employees and accordingly businessoperations can be determined. It also has a positive relationship with organizational growth and success prospects. Further, it is alsoobserved that corporate planning leads to strategic planning in which it encompasses several business facets that significantly ensuresto accomplish organizational aims and objectives (Langham and Hussey, 2014). The concept of corporate planning has a directintegration with organizational growth prospects; hence here strategic contexts are required to be understood. In the early stagesbusiness entities used to emphasize on ideological concepts so that the main aim of the business entity can be accomplished. In the present research study, several past studies have been considered that focuses on the relationship of corporate planningwith that to organizational growth prospects. All such studies focuses on diverse dimensions for making it clear that business entitiesencourages its success and growth opportunities with the help of corporate planning. Further, strategic planning is defined as a processof formulating, evaluating and implementing business strategies so as to attain future objectives. All the managers of the organizationsare involved in the same procedure so as to make appropriate decisions regarding business operations and practices. It also involvesselecting organizational aims and objectives and then finding new methods of performing the business operations. It has beenobserved that strategic planning aids in improving the performance of the business and it also ensure to transform the practices indiverse manner. With the help of strategic planning, organization can ascertain their effectiveness in meeting corporate aim andobjectives. This is yet another dimension that helps in attaining long term aims and objectives.
Thus, it can be articulated that corporate planning is defined as an organization’s sense of purpose which is concerned with itsfuture directions. It also defines organizational purpose, resource capability and way of managing things; hence the concept is termedas most important in encouraging organizational growth and success facets. With the help of corporate planning, strategies can bedeveloped to manage business operations and this can also assist in meeting all the determined objectives. The concept of corporateplanning aids business entity manage uncertainties and constraints since it focuses on developing contingency plans and procedures.However, the present research study has the issue of scope of activity is fundamental to corporate planning because it concerns theway in which managers conceives its boundaries. Thus, the present study has been considering all the constraints that appears in therealm of corporate business management. Statement of the problemIt is apparent that risk develops at the time of implementing any new process in the organization; hence the same also exists inthe case of corporate planning. The certainty of risks and constraints are high and this usually arises due to external and internalenvironment of the business entity. It has been observed that the level of competition has been increasing in the market place whichleads to occurrence of several transformations and changes in the business organization. In this respect, it is clear that political factorsas well as customer behaviour are two major dimension that probably hampers the organizational work practices. Sometimes, it also generates issues related to improper management of operations and in terms of consequences, it can impedethe overall growth facets. Furthermore, unrealistic goals and demotivated employees are major risks and challenges of theorganization that can have a direct impact on financial and other grounds of the business entity. Most often these issues generate dueto improper planning for uncertainty management. Hence, this can be called as a major constraint in organizational work facets whichneeds to be dealt in proper way. Regarding this, a few suggestions have been discussed in the present research work.
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Impact of Employee Motivation on Organizational Performance in McDonaldslg...
|100
|22482
|61
Effect of Schedule Delays and Cost Overrun on Construction Projectlg...
|60
|19640
|1
The Impact of Supply Chain Management Practiceslg...
|86
|19883
|52
Analyzing the Reasons and Effects of Gender Pay Gaplg...
|48
|11792
|56
PM302 Project On Financial Impact Of Innovation & Technology On Business Managementlg...
|71
|14572
|35
Project on Supply Chain Frameworklg...
|42
|9315
|42