Define how Walmart’s strategy connects to its purpose, vision and core values.
Walmart’s strategy includes initiatives such as saving money and improving the standard of living for customers. The company’s vision and objective are aligned with this approach. They aim to “save people money so that they can live better” as well as “to make it easy for customers to save money no matter what they buy.” In order to win clients, Walmart uses price leadership strategies. Walmart’s strategy is to provide value for customers in every product category (Murray 2018, 2018). Walmart is trying to keep Target and other competitors at bay through reducing their market share.
You should identify any aspects of your strategic plan that are not in line with the company’s vision and purpose.
Strategy plans place environmental sustainability and cost-savings above all other issues. The plan doesn’t include essential beliefs. Walmart has four core values: customer service and respect; striving for excellence; integrity. (Walmart. 2021). (Walmart, 2021). This will help the company to create an inclusive environment that attracts new customers and retains existing consumers. However, their method doesn’t guarantee sustainability.
For Walmart to be more strategic, make and defend one suggestion
Wallis (2020), suggests interactive idea mapping to help businesses improve their strategy planning. Concept mapping describes the arrangement of and representations of concepts. The system shows how concepts, ideas and their relationships are connected. Walmart may use this method to show the many parts of their plan and to explain how they will achieve their goals. The process can also be illustrated visually.
To increase Walmart’s chances of achieving the strategic plan objectives within the next 18 month, make and defend one proposal
A plan to foster an inclusive culture within the company should be part of your business strategy. Workers and customers will both be able to achieve inclusion. Employees will perform better when they are able to fulfill their daily duties. This will increase the number of customers served. It will be more likely to succeed if it is possible to combine environmental sustainability with cost-effective goods and social sustainability.
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