Strategic Plan To validate the organizational vision, mission, and values statements of Wal-Mart, the strategic management process will be examined. The strategic management activities are different for each business but the basic components within the strategic management model are very parallel when looking at the strategic management operations. Some components of the strategic management model include company mission, external environment, and internal analysis.
The mission of a company is the unique purpose that sets it apart from other companies of its type and identifies the scope of its operations (Pearce & Robinson, II, 2011). The company mission exemplifies the company’s product, market, and technological areas of emphasis that mirror the values and priorities of the strategic decision makers. Social responsibility is a critical consideration for a company’s strategic decision makers because the mission statement must express how the company intends to contribute to the societies that sustain it (Pearce & Robinson, II, 2011). Therefore a business has to set social responsibility objectives.
The first Wal-Mart store was opened in 1962 in Rogers, AR. Wal-Mart was opened and mostly financed by Sam Walton. The mission statement and purpose of Wal-Mart is “We save people money so they can live better.” Wal-Mart’s founder Sam Walton originally defined the company purpose which is “ If we work together, we’ll lower the cost of living for everyone…we’ll give the world an opportunity to see what it’s like to save and have a better life.”
In order to carry out Wal-Mart’s mission, unique policies, principles, rules, processes, and procedures have been developed. The manager’s at Wal-Mart practice an open door policy. Which means their doors are always open to employees at all levels. Wal-Mart also practices the “Sundown Rule.” Managers must answer