Walmart Business Strategy And Competitive Advantage
Added on 2020-01-23
10 Pages3622 Words97 Views
Business DevelopmentFinanceLeadership ManagementPolitical Science
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Business Strategy of Wal Mart
TABLE OF CONTENTSINTRODUCTION................................................................................................................................3TASK 1.................................................................................................................................................3Q.1 Assessing Wal Mart mission, visions, objectives, goals and core competencies......................3Q.2 Factors that are consider by Walmart need to formulate strategic plans...................................3Q.3 Techniques used to developing strategic business plan............................................................4TASK 2.................................................................................................................................................4Q.4 Strategic position of Walmart by carrying out Organisational audit.........................................4Q.5 PESTLE analysis of Walmart...................................................................................................5Q.6 Role of stakeholder analysis in formulating new strategy........................................................6TASK 3.................................................................................................................................................6Q. 7 Appropriateness of alternative strategies.................................................................................6Q.8 Justification of Walmart's Intensive Strategies........................................................................7TASK 4.................................................................................................................................................8Q.9 Role and responsibility for implementing strategy...................................................................8Q.10 Resources required for making strategic planning..................................................................8Q.11 Contribution of SMART target for strategy implementation..................................................9CONCLUSION....................................................................................................................................9REFERENCES...................................................................................................................................10
INTRODUCTIONStrategic planning and analysing of strategies take a emerging view of performance and bymaking an effective strategic plan it will set up an objective and creating a sustained performanceaccording to the condition of the organisation. By making an effective business strategy, it achieveadvantage of organisation, to accept the challenges of resources so that it will meet the need ofmarkets.By follow up such business strategy in Walmart stores, which is an international retailingcorporation that provides many products such electronic, movies, home & furniture, clothing,footwear, health care products , toys , craft and grocery or party items etc. Walmart also providesWalmart-2 walmart, WalmartMoney card services to there customers. It was founded in Arkansas in1962. Its annual revenues is increases and now it have 485 billion dollar is 2015(Parnell, 2010).TASK 1Q.1 Assessing Wal Mart mission, visions, objectives, goals and core competencies Walmart is the largest retailer in the world which having high revenue and large number ofemployees. Walmart mission in to save people's money so that they can live better. Consumers alsosave there money because they have offer low selling prices. The company also have there vision,that Walmart have an aim to achieve top position in the retail industry The company also make aneye set to the customers mind on the basis of financial benefit.Walmart main objective is to focus in cost. Firm focus in maintaining low prices of goodsand services. So that it make the operating cost low. Walmart also has there competitive advantagebecause of many core- competencies. In core competencies of Walmart, it mainly focus onproviding products at lower prices. Another advantage is that Walmart have employed hardworking, efficient and process oriented employees and also using better techniques which help toconnect the supplier and partners. It implement in time inventory process to decreases the cost ofmanaging inventory at Warehouses. Walmart also uses there intensive strategies by using marketpenetration, to developing the market and also develop the products(Grover and Kohli,2013).Hence Walmart have there core-competencies like employees, cost efficient process andrelationship with suppliers and partners by using new technologies(Nordqvist and Melin, 2010).Q.2 Factors that are consider by Walmart need to formulate strategic plansThere are two type factors such as internal factor and external factor. In Internal factors inincludes all those things which are related to the organisation internally such as organisation culture,ethics, policies and strategies. But in External factors, it includes all those factors which make anaffect the effective planning by outside. It includes:Political factors- To formulate an effective strategic plans political factors such as Govt.rules and law are effected in it. Government can increase the tax rate, VAT or decreases also. So thatall this political factors will also affect the formulation of strategic plans.
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