Using your approved strategic plan from the Wk 2 – Strategic Plan Research assignment, complete the following:
Create a 5- to 7- slide Microsoft® PowerPoint® presentation, with speaker notes and visuals on each slide, that will sell your identified improvements to the strategic plan, based on your Wk 4 analysis.
Include the following:
Running Head: BUSINESS STRATEGY 1
BUSINESS ORGANIZATION STRATEGIES
University of Phoenix
BUSINESS STRATEGY 2
Walmart Inc. is a worldwide known American multinational retail corporation that has
chain of hypermarkets, different chains of grocery stores, discount departmental stores and other
stores. It headquarters is in Bentonville, Arkansas, (Kirkpatrick,2017)
Walmart’s mission, goals and values
The organization has a human resource management with a very sound strategic
management. Even though the organization is the best, it still has mission and vision which are to
achieve the best global position in the marketing world. The organizations success wis directly
linked to the company’s mission and vision. In order to be able to achieve the company’s mission,
the leaders have implemented an appropriate strategy that is competitive. The strategies that are set
ensure that the organization is performing effectively and on top of the already set competition.
The organizations mission statement
The organizations mission statement is” to be able to save people cash so that their lives in
a better way.” the organization was implemented for the betterment of the people. The
organizations mission is to ensure that they are taking care of the customers' needs while they
make their own profits. The minimization of the prices of the company is to ensure that they are
able to stay at the top of the competition.
The organizations vision statement is to be one of the best destinations that the customers
can get to be able to save their cash no matter the shopping they want to undertake. The
organization changed its vision statement which was to be at the top of the game to the current
BUSINESS STRATEGY 3
vision statement. In order to be able to achieve its mission and vision, the organization has
incorporated the best human resource department.
Walmart’s external and internal environment
According to (David et al,2014) the political, social economic and the legal factors have
different effect on some players in the industry. The organization still wants to establish a very
lucrative business strategy.
The company has managed to be at the top of its game as it currently has 8,2516 in over 15
countries. The elements of the general environment. The organizations external factors include the
specific political, agricultural and technological factors.
The legal factors entail the recruitment and selection factors, ensuring that the company has
been able to adhere to the policies and procedures that are set.
The peoples plan and achievement for a diverse workforce
The organization uses the human resource department effectively by ensuring that it has
effectively implemented the correct policies that are to be followed when recruiting and selecting.
The organizations corporate social responsibility and the environmental sustainability
The organization has managed to implement the best cultural practice that is being
followed by the organization. The culture is what makes the external environment get attracted to
BUSINESS STRATEGY 4
The human resource still ensures that it has come up with the best way of ensuring that it
has met the targeted customers' needs all day long despite the social and economic challenges that
are being faced (Spector,2012).
BUSINESS STRATEGY 5
David, M. E., David, F. R., & David, F. R. (2014). Mission statement theory and practice: A
content analysis and new direction. International Journal of Business, Marketing, &
Decision Science, 7(1), 95-110.
Hicks, M. J., Keil, S. R., & Spector, L. C. (2012). Mom-and-pops or big box stores: Some
evidence of Walmart impact on retail trade. Economic Development Quarterly, 26(4), 311-
Kirkpatrick, S. A. (2017). Toward a grounded theory: A qualitative study of vision statement
development. Journal of Management Policy and Practice, 18(1), 87-101.
BUSINESS PLAN 1
Business Plan Assessment
University of Phoenix
Business Plan Assessment
The document used to communicate the goals of an organization and the actions needed to achieve these goals, and the other critical element is known as a strategic plan. All organizations need to have a strategic plan because it serves several purposes. This essay will discuss the purpose of Walmart's strategic plan, key objectives, the key performance indicators, and recommend initiatives to improve the strategic plan.
The strategic plan of Walmart gives the company clarity, direction, and focus on what it is supposed to do and achieve by way of a written document. The direction and plan are achieved by connecting the organization's missions and vision by addressing the purpose, vision, and company plan (Jindal et al.,2021). The strategic plan gives the roadmap to success for Walmart. The strategic plan also drives organizational alignment in Walmart. It also communicates the message of what Walmart wants to achieve and the strategic direction of Walmart.
The key objective of Walmart is to provide safe and affordable food and other products to people globally. They will try to achieve this objective through means which enhance economic opportunity, environmental and social sustainability (Jindal et al.,2021). The second key objective of Walmart is to improve the lives of people globally. Walmart achieves market development by lowering the prices of its products and services. The low price strategy has attracted new customers in return, increasing the profits of Walmart. They have also achieved market development by diversifying the products they have to ensure that all the customer requirements are met. The market development strategies fit my plans because they take into consideration the customers' needs and finances.
Walmart has improved purchasing their goods by creating a strong e-commerce platform, making it easier for its customer to purchase goods and services. It has also improved its process by using advanced information technology systems to trace products and have a network of distribution centers to deliver products to its customers and stores. Walmart has led to the development of people by the creation of jobs globally. The low pricing strategy has also helped poor people to access goods and services at a low price, making it possible for them to meet the basic needs of life (Stankevičiūtė et al., 2012). Walmart delivers its products and services through Express delivery which delivers goods to its customers in under two hours. One can also access their products and services by going to their retail stores. Yes, there is a way to improve quality over time by reducing the delivery time of the goods to its customers.
Walmart's key performance indicators are e-commerce sales key performance indicators that surround average order size and the shopping cart abandonment rate, and the customer services key performance indicators, which will track metrics such as first response time and customer satisfaction scores. Recommendations to support the objectives include addressing strategic issues such as lowering the price of goods to ensure affordable goods and services. I would also recommend Walmart improve its shopping experience, which can be achieved by engaging its customers and the board. Finally, Walmart can adapt to the changing business environment by focusing on online shopping and door to door delivery of its products and services.
A strategic plan serves several purposes to an organization; this includes giving the company clarity and direction and driving organizational alignment. As with every organization, Walmart has its key objective: to provide safe and affordable food and other products to people. It is also important to use key performance indicators to measure the performance of an organization.
Jindal, R. P., Gauri, D. K., Li, W., & Ma, Y. (2021). Omnichannel battle between Amazon and Walmart: Is the focus on delivery the best strategy? Journal of business research, 122, 270-280.
Stankevičiūtė, E., Grunda, R., & Bartkus, E. V. (2012). Pursuing a cost leadership strategy and business sustainability objectives: Walmart case study. Economics and Management, 17(3), 1200-1206.
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