Walmart Strategic Plan
A transparent process and analysis of achievement of the goals of the company subject to the cost have been described in this paper. Strategic Plan Part 1: Online Retail and Distribution Stores Walmart Inc. has majorly specialized in the operation of supermarkets, hypermarkets and retail stores. For this reason, the company deals with large-scale consumers, and there has been an increasing need for the consideration of the small-scale customers too. The company should introduce small-scale online retail, and distribution stores which deals with ordering goods online and the company offers transport and delivery services to the customer. The customers that are almost ever busy, and who were previously left out have now a better chance of getting the products and services of Walmart Inc.
the prices of the products of the company are slightly lower than other prices due to the advantages associated with the economies of scale. The economies of scales, delivery services, and online efficiency provide a competitive advantage(Cassidy & Anita, 2016). The competitors of Walmart are not in a position to outdo the company since it has a wide range of advantages and it caters to every consumer regardless of the age. In future, the online retail and distribution company is expected to be a worldwide business. has many strengths associated with the size of the parent company. The company is in a position to buy its goods in bulk, directly from the main manufacturer. Due to the direct link with the parent company, the larger retailers are given better discounts lowering the cost of goods thereof.
To build a certain level of trust to the consumers, the products of the companies can be customized and branded the name of the company. Due to the bulk purchase of the products of the company, the price of purchasing goods is relatively low, and the selling price of the same goods will be lower in return. On the other hand, the online platform makes it easier for advertisement of products and hence the company stands a better opportunity of developing with the technological developments and advancements. The less developed countries, especially those from the African continent have a high developing potential, and hence there are higher chances of thriving. Considering the financial position of Walmart, it pursuing the development course in the developing countries will not be much challenging.
The improvement of the quality of the products of the company in such a way as to conform to the consumer's specifications and concerns will be a better opportunity for the growth of the company. Walmart may decide to improve the health benefits of the products maintaining the cost efficiency, which rhymes with the desire of every consumer. There has been a development in the mode and frequency of staff training which eases innovation. The financial projections in the company exhibit a strong and efficient financial framework. Strategic Plan Part 3 Assumptions • There is an urgency of the need for the online products and services • The customer base will purchase a number of products and services enough to make sufficient profit • A good number of online users will be comfortable purchasing the services Risks • Being outshined by other competitors in certain areas • Uncertainties concerning the consumers' perspective and acceptability of the product • Internal failures and risks of operation due as a result of new staff Strategic objectives a) Increasing the customer base of the parent company (Walmart Inc.
) b) Increasing the confidence of the stakeholders and investors of the company c) Development of other organizational designs and units of manufacturing some products d) Revenue addition Corporate and Social Responsibly The Balanced Scorecard The balanced scorecard should include: a) The financial analysis and financial position of the company b) Targets in every department c) Attaining more assets, workers and increased profit d) Reducing the rate of overcrowding at counters due to increased customers e) Implementation of the views of the employees The impact of the above points on the stakeholders is range from increasing the confidence in the firm. Increasing the confidence of the stakeholders has a resultant effect re-investment following the certainty generated by the growth level. The company have realized that there is a market gap and making use of the gap would have a resultant benefit both for the company and the customers.
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