Strategic Management in a Globalized Economy

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STRATEGIC MANAGEMENT
IN A GLOBALIZED ECONOMY
[Type the document subtitle]
6/30/2019
Student name

STRATEGIC MANAGEMENT IN A GLOBALIZED ECONOMY 1
An agenda
The major agenda of the report is to compare and analyses two major companies that are Wal-
Mart and Nordstrom and their mission, key strength and weakness, pricing and positioning
strategy, and competitive strategy in order to understand the key importance of strategy
formulation and their relevance in the sustainability of the business in the global economy. Each
organizational activity would be assessed in the report.
Executive summary
Wal-Mart and Nordstrom, both the companies are found to be involved in offering best quality
products to the consumers including innovation in varieties and different pricing strategies. Wal-
Mart mission depicts that the company has been adapting the cost leadership strategy so that
customers can have more number of products at a single room with lower cost and increased
standard of living. The mission statement of Nordstrom reflects on the differentiation strategy of
the company. Wal-Mart has been able to differentiate itself from the key competitors through
lowest cost provided to the customers every single day. In order to sustain in the market,
Nordstrom has increased in stores through acquisition and has focused over a generation of sale
scenario. Therefore, it can be said that Wal-Mart is focused more on a product that is the
company is product oriented on the contrary; Nordstrom is largely focused on services that this is
a service-oriented company.

STRATEGIC MANAGEMENT IN A GLOBALIZED ECONOMY 2
Contents
An agenda........................................................................................................................................1
Executive summary.........................................................................................................................1
Introduction......................................................................................................................................3
Comparative Mission statement......................................................................................................3
Price points and positioning.............................................................................................................4
Generic competitive strategy...........................................................................................................5
Bricks and motors versus an online store........................................................................................6
Growth and sustainable strategies...................................................................................................6
SWOT analysis................................................................................................................................7
Conclusion.......................................................................................................................................8
References........................................................................................................................................9

STRATEGIC MANAGEMENT IN A GLOBALIZED ECONOMY 3
Introduction
Two potential retail stores in America that would be considered for the discussion in the report
are Wal-Mart and Nordstrom. Wal-Mart is one of the largest retailing stores serving various
nations across the globe with the key objective to reach out to the customer with retailing,
grocery, and consumer goods at the lowest cost possible; the company is serving twenty-eight
nations. On the other hand, Nordstrom is considered to be a fashion specialty retailer that is
involved in treating several accessories and clothing for men women and kids. Both the
companies are found to be involved in offering best quality products to the consumers including
innovation in varieties and different pricing strategies (Betton, 2017).
Comparative Mission statement
The mission of Wal-Mart is to provide high-quality products and make people live better while
saving them money that is to provide goods at lower prices. The mission of the company depicts
that the company has been adapting cost leadership strategy so that customers can have large
number of products at a single room with low cost and increase the standard of living
(corporate.walmart, 2019).
On the other hand, Nordstrom mission includes providing extraordinary services to the customer
and taking care of one customer at a particular time. The mission statement of Nordstrom reflect
on the differentiation strategy of the company and depicts that The company objective is to make
best services available to the customer for which the company work to words their employee
performance and providing training to the employees in order to achieve the mission effectively
(shop.nordstrom, 2019).