Using your approved strategic plan from the Wk 2 – Strategic Plan Research assignment, complete the following: Create a 5- to 7- slide Microsoft? PowerPoi
Assignment Content
- 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:
- Summarize the threats and challenges you have identified within the current strategic plan.
- Determine how to execute the strategic initiatives in order to address the threats and challenges.
- Explain proposed process improvements.
- Assess whether additional resources are needed.
- Describe how resources should be used in the application of the strategic plan.
- Utilize KPIs to justify the financial investment and to measure the success of the proposed improvements to the strategic plan.
- Justify your recommendations based on anticipated Return on Investment (ROI).
Running Head: WALMART PLC STRATEGIC PLAN ANALYSIS 2
WALMART PLC STRATEGIC PLAN ANALYSIS 2
WALMART PLC STRATEGIC PLAN ANALYSIS
Kendra Thorpe
University of Phoenix
STR/581
April 18, 2022
Introduction
Walmart, Inc. is a retailer and wholesaler of consumer products (Yuan et al. 2021). The organization provides a wide range of products and services at reasonable costs every day. The goal of Walmart's strategic planning is to establish the company's broad objectives and devise a strategy for achieving them. It entails taking a step back from the day-to-day grind of running the organization to consider where it's going and what its top goals are.
Key Objectives
Walmart's goal is to supply safe and inexpensive food and other goods to people across the globe, regardless of their location. The company intends to create value for the business and society by enhancing economic opportunities, environmental and social sustainability, and local communities (Phillips & Rozworski., 2019).
Market Development
Segmentation strategy aids in recognizing distinct sub-segments of clients and their evolving needs (Ching, Lepoev & Nishida., 2022). Walmart uses psychographic and demographic segmentation tactics. It understands the mindset of the consumer and recognizes that the customers desire everyday things at the cheapest possible rates. This helps the company to capture a wide range of customers hence boosting its sales.
Process Improvement
In order to meet the goals of shareholders, customers, and other stakeholders within Walmart, an internal-business-process-perspective must be taken into consideration (Ching, Lepoev & Nishida., 2022). Walmart's management group is able to identify the main operational processes that need to be addressed through the adoption of an internal-business-process-perspective. As a result, the company gains a significant competitive edge.
Development of People
Among the things Walmart does to help people grow are competitive pay, relocation and housing for the summer, health benefits and swag. Peers and leaders are connected through cohorts, mentorship, and sponsorships, as well as by going to events together.
Product/Service Delivery
Shipments have been diverted to less congested ports because Walmart has chartered ships to do so. To avoid train delays, the business has relocated goods within the United States using less traditional modes of transportation. More than 3,000 drivers have been hired so far this year, and more are on the way. In order to improve the delivery process, the company aims at adopting latest technology in reaching out customers and addressing their concerns (Nilufer., 2020).
Key Performance Indicators
A 90-day order defect rate of less than 2 percent, an on-time shipping rate of at least 99 percent, and a valid tracking rate of at least 99 percent are some of Walmart's most important key performance indicators.
Recommendations
Due to the large size of Walmart’s stores, the company should purchase its supplies in bulk so as to save on individual cost per item. Since the company is widely known, it should reduce its advertisement cost so as to reduce the over operating costs of the company. The company should also improve its selling strategies so as to compete favorably with its rivals in the future.
References
Ching, A. T., Lepoev, S., & Nishida, M. (2022). Charitable Donation, Market Expansion and Market Presence: The Case of Walmart. Market Expansion and Market Presence: The Case of Walmart (January 31, 2022).
Nilufer, N. (2020). Critical assessment on business strategy from aviation to retail industry during COVID-19 Pandemic: A Walmart Case. International Journal of Business Ecosystem & Strategy (2687-2293), 2(2), 8-14.
Phillips, L., & Rozworski, M. (2019). The people's republic of Walmart: how the world's biggest corporations are laying the foundation for socialism. Verso Books.
Yuan, M., Zhang, N., & Wong, Z. G. (2021, December). Walmart China Face the Marketing Strategic Issues and What’s their Future Plan. In 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021) (pp. 2922-2926). Atlantis Press.
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