Description
Purpose of Assignment
Students will have the opportunity to research a company and industry to conceptualize forming a new division of an existing company based on a new product or service. The assigned text and Strategic Planning Outline serve as a guide to complete sections of the capstone project each week. This will allow the student to lay the basic foundation for an effective strategic plan. A final plan will be presented in Week 5.
Assignment Steps
Resources: Strategic Planning Outline and Week 2 textbook readings
Use the Strategic Planning Outline as a guide to complete sections of your capstone project each week. A final strategic plan is due in Week 5. Cite your resources.
Develop a minimum 1,400-word proposal in which you explain the importance of innovation in your selected division's vision, mission, and values, and determine your business model for this new division.
Include the following:
- Propose a new product or service for the new company division. The division should be customer-focused with an innovative mission statement. Ensure you are differentiating your product or service.
- Describe how the division addresses customer needs and achieves competitive advantage.
- Create a vision and a business model for this new division that clearly demonstrates your decision on what you want your business to become in the future.
- Explain how the vision, mission, and value of the new division align with the company's mission and vision.
- Summarize how the vision, mission, and values guide the division's strategic direction.
- Define your guiding principles and values for your division in the context of culture, social responsibility, and ethics.
Cite a minimum of two peer-reviewed references.
Format your paper consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
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RUNNING HEAD: WALMART STRATEGIC PLANNING1
Walmart Strategic Planning
Author's Name
Institutional Affiliation
Date
WALMART STRATEGIC PLANNING
2
Introduction
In this paper, I will consider Walmart and define a new division of it business.
Currently, it operates across the world and is highest earning revenue company in the world
and also the employer of more than two million employees across the globe. It has a chain of
operation in hypermarkets, grocery shops and discount departmental stores. Despite having a
series of operations, Walmart has a chance to incorporate a new division that will increase
their profits and ensure the growth of the company. There are retail stores that are coming up
and Walmart need to ensure they grow and supply their customers with variety to gain the
competitive edge. Some of the upcoming retail stores are aggressive that they have a line of
business divisions to expand and gain more market. Customers like stores where they can get
a lot of item and administration to save on time of moving from store to store. The paper
introduces an imaginative thought on the products that Walmart can benefit equally with its
current operation. The line of division will meet the need of the customers and has a
relationship to its major activities. The paper will give strategic plans that will help in
expansion and progress of the company later on. The division should line with the current
vision, mission and with the core values of the business.
Proposed Product
The proposed division is fast food where the shops include selling of snacks and
beverages. This will require Walmart to employ more workers, and the initial cost of starting
of the division is costly but in future will be profitable. Currently, the firm is looking for new
way of growth where they can empower the activities in other business division. Walmart has
a brand name in the current business operations and a wide market share across the globe.
The firm can use this advantage to incorporate the fast food division to the existing market
share. It is a development where Walmart stores will provide a lot of goods under one roof. In
WALMART STRATEGIC PLANNING
3
the current period, fast food deals with nourishment generation and therefore the division is
proper for Walmart implementation. Since the company has a line of grocery shops in their
stores, they will have the items required from their store (SaadAndaleeb& Conway, 2016).
They can buy items to be used in the fast food shops in their stores. They will be discounted
price thereby holding prices lower than competitors. It will also spare time and cash for the
organization and its customers for better business relations. Walmart mission is "Save money.
Live better". With the introduction of the mentioned product, it will line with the current
mission.
Customer Needs
Introduction of the snacks and beverages in the eateries will expand and open to
adults, children and young generation. It is in the strategic plan of the company to offer
quality even in future to its customers. As stated in the mission Walmart has low-value
sustenance to its customers and that why it's able to beat its competitors in their services (Hut,
2012). By development of the new business line, it will be able to provide quality at a lower
price than the current fast food eateries. To attract the young generation, they need to have
pizzas and sandwiches to ensure they capture their interest in the shops. Another need is timesaving. It is taking less time to prepare snacks and beverages there by saving customers time.
In this aspect, fast food eateries are profitable since they service customers in a short time.
Beverages like coffee, tea and soft drinks are mechanical gear for growth and meet the need
of adults as well as business class.
Proposed Business Model
The best business model that will be adopted by the new division is the uniqueness,
variety of in the menu, have a good customer base, proper assessment of the competitors...
