Walmart Business Strategy Assignment
13 Pages4235 Words233 Views
Added on 2019-12-18
Walmart Business Strategy Assignment
Added on 2019-12-18
ShareRelated Documents
Business Strategy
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 assess how business missions, visions, objectives, goals and core competencies informstrategic planning........................................................................................................................31.2 analyse the factors that have to be considered when formulating strategic plans.................41.3 evaluate the effectiveness of techniques used when developing strategic business plans....4TASK 2............................................................................................................................................52.1 analyse the strategic positioning of a given organisation by carrying out an organisationalaudit.............................................................................................................................................52.2 carry out an environmental audit for a given organisation...................................................62.3 assess the significance of stakeholder analysis when formulating new strategy..................72.4 present a new strategy for a given organisation....................................................................7TASK 3............................................................................................................................................83.1 analyse the appropriateness of alternative strategies relating to market entry, substantivegrowth, limited growth or retrenchment for a given organisation..............................................83.2 Justify the selection of a strategy..........................................................................................9TASK 4............................................................................................................................................94.1 assess the roles and responsibilities of personnel who are charged with strategyimplementation............................................................................................................................94.2 analyse the estimated resource requirements for implementing a new strategy for a givenorganisation...............................................................................................................................104.3 evaluate the contribution of SMART targets to the achievement of strategyimplementation in a given organisation....................................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONBusiness strategies are make to achieve the success of the business. It means to achievethe desired goals and objectives with the help of proper planning. Strategies for any firm ororganisation are made to achieve the long term success. Walmart's business strategy is to providegoods and products at a lower price to their consumers and achieve long term success(Montgomery, 2011). The purpose of this project is to know the mission, vision, objective andgoals of the Walmart. Analyse which factors have to be considered when strategic plan is madeand how to develop strategic business plan. Also understand the environment audit andimportance of stakeholders. Analyse of appropriate strategy which is relating to market growthand how selection is made for an strategy. In this report there is also a description of roles andresponsibilities of personnel with strategic implementation and also describes that how toimplement the chosen strategy (Peteraf, Gamble and Thompson, 2014).TASK 11.1 assess how business missions, visions, objectives, goals and core competencies informstrategic planningThere are following mission, vision, objectives and core competencies of Walmart as givenbelow:Mission: Walmart is a retail store its mission is to provide high quality of product to thecustomer in low prices. Walmart has their store in all over the countries. The firm's mission is tosave money of people to fulfil it they provide goods and services at a lower price.Vision: Walmart provide goods to consumers at a lower prices so that they can be in mind ofconsumers. They want to be the best retailer in the whole world. Walmart gives financial benefitsto their consumers and employees by providing them good quality of products at a low prices(Ackermann and Audretsch, 2013).Objectives: Walmart's objective is to increase the knowledge and skills of their employees. Theywant to develop their stores globally and want to fulfil needs to customers. They want tomaintain their quality and quantity of their products and services and all want to provide theircustomer full satisfaction.
Goals: Firm want to achieved the desired goals within a given time period. Goals are made forcompany for long term success. Goals of firm should be measurable, realistic, consistent andchallenging. It also helps to increase the image of firm and also helps to maintain the goodwill.Core – competencies: It is strength for a firm and also help to take advantage of a business. Ithelps to firm to expand the business and provide benefits to their customers (Acquaah, 2011). 1.2 analyse the factors that have to be considered when formulating strategic plansFactors that have to be considered when formulating strategic plan: There are some factors thatshould be take into consideration while making strategic plan for the firm, these factors arementioned as below-Communication: Strategic plan is more successful if there is proper communication betweenboth employer and employee. It is necessary for all the level of management. Employer ormanager of the firm has to share the strategic plan with their employees or workers for the bestexecution of plan.Innovation: If any firm or organisation wants to survive for long term or wants to achieve longterm goals and success then they should be innovative. They should plan some strategies todevelop or create new product or make any alteration in existing product.Culture: Every people has their own culture and in organisation every employees has their ownvalues, beliefs, attitudes. Some people can accept the change but some can resist or fear from thechange (Elliot, 2011). If employee of the firm thinks and believes that change is worthy andincrease growth of the firm and employee, then every employee take it as a responsibility and dotheir best.Project management: Every firm or organisation wants to develop and achieve more success. Itis very difficult to identify that which or what type of project is required to achievement of moresuccess and development. If employees involvement is high then employer can get rid of manyproblems. 1.3 evaluate the effectiveness of techniques used when developing strategic business plansTechniques used in development of Business plans: Plan for any business is veryimportant for any fir or organisation irrespective of their size or industry. Techniques which aremore effective firm has to take that and it will help them to achievement of desired results. Thereare some techniques which is used to development of business plan mentioned as below-
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Walmart Business Strategy And Competitive Advantagelg...
|10
|3622
|97
Business Strategy Report - Aldilg...
|17
|5270
|36
Walmart’s Business Strategy - Reportlg...
|13
|4078
|194
Aldi's Business Strategy - Assignmentlg...
|19
|5654
|74
Business Strategy Assignment British Airwayslg...
|17
|5498
|342
Business Strategy Project Report - ALDIlg...
|18
|5531
|54