In the News Bullet Points
In the News Bullet PointsStrategic Management & Walmart Outline
* This article regarding Strategic Management & Walmart relate to the course content during
Week 1 we learned that strategic Management consists of three ongoing processes.
1 Analysis – involves gathering and interpreting data pertaining to the internal and external environment of the organization.
2 Decision Making- leaders must formulate strategies based on the analyses that have been generated –strategic decisions determine what industries the firm competes in and how
3 Implementation – strategic decisions must be implemented effectively – this involves articulating strategies clearly, mobilizing resources, and developing a culture that will facilitate the adoption of the strategy.
1This article has an in depth analysis of Walmart internal and external environment.
“Sam Walton's talent for discount retailing not only made Wal-Mart the world's largest retailer, but also the world's number one retailer in sales”
2The industry walmart competes in is discount retailing and the company continues to grow even after the creator and inventor Sam Walton passed away. The leaders of Walmart choose to continue to use the strategies and goals formulated by Mr Walt.
“Wal-Mart executives continue to rely on many of the traditional goals and philosophies that Sam's legacy left behind, while simultaneously keeping one step ahead of the ever-changing technology and methods of today's fast-paced business environment”
3 Walmart has good strategy Implementation
“The key features of Wal-Mart's approach to implementing the strategy put together by Sam Walton emphasizes building solid working relationships with both suppliers and employees, being aware and taking notice of the most intricate details in store layouts and merchandising techniques, capitalizing on every cost saving opportunity, and creating a high performance spirit”
Implementation: The culture Mr Walton believed in consisted of three principles...