Devise a viable strategy for Walmart, which takes account of the reality of strategic decision making and makes appropriate recommendations
Learning Outcomes:
1 Knowledge and Understanding: Question the nature of management and strategy and their competitive and institutional context
2 Knowledge and Understanding: Debate the strength and limitation of strategic analysis and how it fits into the overall strategic process
3 Intellectual, practical, affective and transferrable skills: Assess the relevance of different theoretical frameworks in the field of management and strategy
4 Intellectual, practical, affective and transferrable skills: Devise a viable strategy for an organisation which takes account of the reality of strategic decision making and make appropriate recommendations
Your strategic plan should be written in report style. Your audience is the management team/board of the organisation. Your aim is to “provide the data and argument in support of a strategy for… [an] organisation” (Johnson et al., 2014, p. 521). Please choose a non-diversified business (one industry only, e.g., Clarks Shoes) or business unit of a corporation (e.g., BT Consumer, rather than BT Group; Unilever Foods, rather than Unilever). Focusing on a single country or region is highly recommended
Solved by verified expertFocus on e-commerce: With the growth of online shopping, Walmart needs to continue to invest in its e-commerce capabilities to stay competitive. This means improving its website and mobile app, expanding its online inventory, and enhancing its logistics and delivery systems.
Embrace sustainability: Walmart has made progress in sustainability, but there is still room for improvement. The company can reduce its environmental impact by investing in renewable
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Expand globally: Walmart is already a global company, but there are still many untapped markets where it could grow. Walmart should focus on emerging economies, where there is a growing middle class that is interested in Western-style retail experiences.
Invest in employees: Walmart has faced criticism for its treatment of employees, but investing in its workforce can pay off in the long run. By offering better pay, benefits, and training, Walmart can improve employee morale and productivity, which can lead to better customer service and increased sales.
Innovate: Walmart needs to continue to innovate in order to stay ahead of its competitors. This means exploring new technologies, such as artificial intelligence and virtual reality, and experimenting with new store formats and product offerings.
Foster partnerships: Walmart should look for opportunities to partner with other companies, both within and outside of its industry. By working with others, Walmart can leverage their strengths and expertise to improve its own operations.
Overall, Walmart should focus on a balanced approach that considers the needs of its customers, employees, and stakeholders. By making strategic decisions that are aligned with its values and goals, Walmart can continue to thrive in a rapidly changing retail landscape.
