Final Strategic Plan

Anonymous
timer Asked: May 8th, 2018
account_balance_wallet $30

Question description

Company is Wal-Mart. Document and a Powerpoint.

Create the Final Strategic Plan. The Final Strategic Plan contains the elements of all the previous weeks' components and incorporates instructor feedback. The strategic recommendations will be evaluated and the best options chosen for recommendation. The final strategic plan contains:

  • Table of Contents
  • Executive Summary (350 to 700 words)
  • Company Background
  • Mission Statement
  • Vision Statement
  • Value Statement
  • Environmental Scan
  • Internal and External Environmental Analysis
  • Strategic Recommendation
  • Implementation Plan
  • Organizational Change Management Strategies
  • Risk Management Plan
  • Conclusion
  • References

Create a 25- to 35-slide Microsoft® PowerPoint® presentation with speaker notes to present the strategic plan, combining all relevant elements from previous weeks. The objective is to sell the strategic plan to investors or company directors.

Tutor Answer

MissKathi
School: New York University

Attached.

FINAL STRATEGIC PLAN
Name
Institution
Class
Date

Introduction
■ Wal-Mart is the leader of the retail stores in the US.
■ The company is multinational, and it operates in many different
countries.
■ They are the largest company when it comes to employees and
money made.
■ Their mission statement is all about them saving people money
■ It does not matter who the competition is in the market, they
strive to be at the top in the retail industry.
■ Wal-Mart was established in 1962 by Sam Walton in Arkansas.
■ The headquarters is in Bentonville, Arkansas; they are in over 25
countries.

Executive Summary
■ The company aims at having no waste at all. With this they should being about the
use of renewable power and recyclable packaging too
■ The mission statement is all about them saving people money; they deliver products
at a higher quality to their customers at a lower price than their competition.
■ Human resources are the ones that do the hiring.
■ The higher ups in Wal-Mart realize that the people that work there are the most
important people there.

■ Some strengths of working at Wal-Mart are you have some loyal employees, special
awards based on performance and sales and ability to move up.
■ Some weaknesses maybe the starting pay maybe lower than other companies, some
people maybe not people person or friendly or even may enjoy working there.

■ Some strengths are brand name, slogan, culture, low prices, and good supply chain.

Environmental scanning
■ Wal-Mart happens to be in the retail industry where it has the competition
of other companies like Target and even Costco, just to name a few.

■ For Wal-Mart to gain the competitive edge then by, they need to get an
understanding of any trends in the external environment
■ They must ensure that they know the right trends and any positions in the
market and the competition too.

■ They also must understand the demographics of the market too.

External Environment Wal-Mart
■ There are six categories that Wal-Mart has divided their external environment, which
are political, economic, technology, legal, environment and social environment.
■ These factors determine how successful Wal-Mart is in the market.
■ In the political environment, it focuses on the political side in which it can determine
the stability of the company in the market.
■ Wal-Mart has been engaging in the political area. They have no say in the political
side of the country,


But it influences how successful or how it will be unsuccessful in the market.

■ Around socioeconomic environment, in which here the lifestyles that have the direct
impact on the company.

The General Environment of Wal-Mart
■ The general environment affects the internal and external environment.

■ The factors that affect the general environment are legal, economic, social, cultural,
global, physical and even the global environment too.
■ In the economic and global environment, it has the impact on the profit that the
company makes.

■ They have remained very high in the competitive in the market, (Sanders, 2016).


In the physical; area it is how the regulations have affected the company.

Components of the Strategic Management Process
■ Walmart was founded in Arkansas in the year of 1962 while becoming one of the
world’s largest retailers and top of the industry.
■ Walmart’s annual revenues have exceeded well beyond four billion since the
year of 2015.
■ Such successes are based on the notations of application strategies that have
encouraged the vision and mission of Walmart while maintain core values for
associates and consumers alike.

■ Walmart’s strategic management process lies within effective applications that
are based around a firm statement through corporate, regional, and local levels
■ The affiliation additionally builds up a way to deal with overseeing direct rivalry, it
disengages its things, communicates and utilizes unmistakable intends to get
high ground.

Value of Strategic Management Process
■ Walmart’s primary objectives and goals have been found to be sound and practical. They have
steered their industry in the direction that it was intended to head.
■ The associates employed with Walmart are highly motivated as per the incentive programs
recognize the dedication and hard work put forth by them.
■ The organization had incredible philosophies and knew how to manage the authorities; it was the
essential association I have ever been to where workers don't disdain their director.
■ The association was along these lines expected that would meet its goals if the example
continued
■ The business is committed to keeping up an honest to goodness business free from irregularity
and humiliation


The association partakes in arrange social obligation in the going with ways, it provides for a
different benevolent relationship, for instance, the Red Cross and urges laborers to give blood.

■ The association also offers brief occupation to remarkable understudies to provide them with a
chance to get understanding.

Vision
■ Vision of the organization is “To be the best retailer in the hearts and minds of
consumers and employees”.

■ Today Walmart has developed and achieved its vision of turning into the psyches
in the very best retailer and hearts that can from both the representatives or the
clients by turning into the biggest retailers on the planet.
■ Inside the fiscal year of 2016, the association used 2.2 million worldwide and
earned the pay of 482.1 billion dollars
■ Besides, Walmart impacts the mind of the delegates by offering 401 (K), stock
belonging, effective security, and accomplice refunds.

Mission of the organization
■ Mission of the organization is, “Saving people money so they can live
better”.
■ By goods and services can be bought at the right price, customers are the
ones that are able to buy quality products and services.

■ Thus, it gives them an unrivaled life. Walmart is known for its shocking
and incredible quality things and organizations.
■ By achieving these procedures, Walmart offers more stock and ventures
requiring little to no effort through progressions, discounts, and
extraordinary packs.

Motivation Strategy
■ The essential trainings that lead Wal-Mart to agreement with its relations
efficiently is an inspiration.
■ Inspirational workers into the same culture is one of Sam's purposes.
■ Wal-Mart entails all being able to encourage their employees to impress like
they are a part of the company since they are sources of new thought for
Wal-Mart to create
■ Motivation is active through all levels of positions at the organization.
■ The company propels employees from multiple points of view to reveal

■ One of the actualities demonstrated about this inspiration is the utilized of
term "relationship" rather than "representative."

Role of Ethics and Corporate Social Responsibility
■ As ventures continue to progress and fight in an overall business focus where
customers are dealt with the opportunity to give and get a contribution from speedy
web-based systems administration streets,
■ In perspective of this prompt information, the exercises of an endeavor are under
regular examination and evaluation.
■ To benefit from this opportunity, association executives have gotten a handle on the
likelihood of Corporate Social Responsibility or CSR.
■ Corporate Social Responsibility is a resolute game plan of procedures that an
association center around that incorporate the protection of the association
■ There are four essential parts to a CSR that most associations attempt to keep up.
These are recorded as cash related or monetary, real, and ethical obligations, and
generous.

Objectives
■ Their key objective is for them to be able to expand their multi-channel
enterprises.
■ They should open some small outlets in rural areas so that the customers
are able to get the products that they need.
■ Amazon has been successful in the advanced they have in the technology.
Wal-Mart needs to make sure that they can advance in the technology area.
■ The consumer analytic tools should be used when trying to get a deep
analysis of new trends that are coming about in the market.
■ Another objective they could expand on any limitations in the US and be able
to improve on the area of making money.

Financial tactics
■ For this to be effective, the finance techniques need to be initiated.

■ First thing that needs to happen is for the company to improve their shareholders
value in which it is maybe more attraction of the members of the Sam’s club.
■ In the stores, they use the Walmart MasterCard’s for rewards, which is for those to
be increased so they can be draw more to those loyal customers.

■ For the financial growth to have an efficiency they need to come up with some
productivity plans.
■ Some other rewards might be adding some more services that can be at a lower
price,



They could do this by adding some free screenings to the pharmacies, so they can
work on keeping those customers coming back.

Action items
■ There are many different action items that a company can and should be
able to achieve.
■ The first thing is the new Walmart express format, which is being
distributed efficiently and can be able to make some money for the
business.
■ Some multi-channel revolutions should be used like Pick Up Today or even
Site to Store, need to be more effected.
■ Sam’s club can be improved and should be driving to add more members,
(Marcilla). Open those super center stores in new regions.
■ With the competition in the industry, Walmart needs to be able to
maintain their everyday low prices.

Milestones and Deadlines
■ There are many goals that companies may have but the one at the top of the
list is the introduction of the new products or brands.

■ Wal-Mart has supported over 2,000 goals.
■ What they aim for is new area of the transparency and being about products
that are friendly for the environment and for the business.
■ The company aims at having no waste at all.
■ Many merchandises like bananas, coffee, tea, etc. are sold in the grocery stores
of Wal-Mart and the other states in which they plan on achieving the sourcing
that is maintainable, (Global Responsibility report, 2014).

Tasks
■ Some very strong tasks that include the management.
■ In the past, they have made changes to the management team in which helps
improve on the service.

■ The company will slowly work on mixing the management team, so they are
able to control the organization.
■ Training is very important as it helps develop those organizations.
■ Wal-Mart’s employee’s goals are to establish the reputation for the company
around the world to stand.
■ For them to find some suitable energy solutions, then they could focus more
on how the product distribution vendors are managed.

Resource allocation
■ It has distributed a well value chain. With them having an online platform, the
resources are invested are conserved.
■ What they could do is focus more on the online market while they are
distributing more resources to those areas that are unused areas.
■ For instance, instead of trying to develop more finance stores in New York, the
stores that are newly opened then these stores need to be given more
attention.
■ The basic consideration for any company is to be able expand their operations,
which permits them to be able to focus more on the distribution of the
resources.

Organizational change management
■ In the organizational change, Wal-Mart creates certain department manager
positions for those different store brands.
■ When the organization is trying to make any changes then the organization
needs to be able to align themselves with the company’s goals.

■ Additionally, there needs to be an inspection that can be conducted so they
can be able to determine any changes
■ During the implementation there is some support structure that is needed so
that they can establish and be effective in the training of their employees.

Success factors and financials


There are three key factors that are successful including three strategies- market penetration,
product development and general market development.



With having any of these strategies in place then then have some skills in which they are
distinctive capabilities, reputation, innovation, strategic assets and architecture.



In the SWOT analysis, using the key strengths and opportunities help the success of the company,
(Marcilla, 2014).



The main strengths of Wal-Mart are having a large scale in the operations that are worldwide and
business strategies, t



There are opportunities that can be increased based upon the demands of the products and the
servicers of the distribution.



Their target sale is about $510 million in 2019, I which with the budget they can be profitable.
Capital is expected to be about $254 million, then you got the enterprise which is about $291
million, (only Wal-Mart, 2016).

Risk Management
■ Competition is the greatest risk of Wal-Mart. Technology always changing
and the competition out there, Wal-Mart faces the competition in the
market
■ Price matching program is another risk which target a threat of is taking.
■ Currency is another risk for the potential of expanding in foreign countries.

■ Wal-Mart may have some trouble in other countries because it is not
stable there, so they may not make any profits.
■ There can be numerous measures of implementation in management of
risks, first is able to counter the competition, they can do that by taking
advantage of their strengths.

Business level strategies
■ Cost leadership- Basically here the companies try to compete for the customers
which are based on the goods and services that the companies priced them at.
■ Differentiation- Basically this is an approach that any company tries to different
their products and services so that the customers can see the difference from the
competition.
■ Low cost- This is a form of strategy that helps Wal-Mart in the marketing. They can
do this by choosing in the market where they can offer their products.
■ Focused differentiation- Here the company can provide those products to the
market. This strategy uses the approach to be able to serve the needs of the
customers.
■ Integrated low-cost/ differentiation strategy- Here the company can use the
business level strategy to be able to address the competition in the global area.

Strategic Recommendation
■ Wal-Mart to be able to survive and be successful in the retail industry, Wal-...

flag Report DMCA
Review

Anonymous
Wow this is really good.... didn't expect it. Sweet!!!!

Similar Questions
Hot Questions
Related Tags

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors