Strategic Planning at Walmart

Strategic Planning at Walmart

Walmart has undertaken various initiWe’lls centered on its goal of creatWalmart’s local and international businesses. One of the initiatives adopted by the company entails leveraging technology. Notably, the company utilizes technology to enhance its efficiency and competitiveness. Some of the technologies that have been adopted include pickup capabilities, cloud-powered checkout, and machine learning. The overaorganization’shis initiative has been increased shopping experience and convenience for customers (Nilufer, 2020).

Another strategy fWalmart’st entails acquiring other firms. ThWalmart’scent acquisition was Botmock, which took place in November 2021. The investment was strategic and aligned with the first initiative identifiWalmart’se Botmock is a unique technology Assets Company that develops tools for designing, testing, prototyping, and deploying conversational applications across various stages. Essentially, this acquisition enhanced Walmart’s technological competitive edge. Finally, Walmart has engaged in a strategic initiative to redesign its stores. The new store layout has been a game-changer (Alsharari, 2021). Notably, the design is related to the other two strategies because it is informed technologically.

Walmart’s mission statement affirms its commitment to saving people’s money to live better. The mission statement aligns with the identified strategies because they all attempt to better people’s lives (Pandey et al., 2021). For instance, acquiring a technological firm to enhance customer service through technology helps improve people’s lives. On the other hand, Walmart’s vision statement affirms the company’s position in becoming the best destination for customers. One way to become a better destination is by redesigning its stores, one of the identified strategies. Finally, Walmart’s value statement states that the company intends to offer a wide variety of products to customers in the most convenient way possible, which is supported by the strategy to leverage technology.

 References

Alsharari, N. M. (2021). Management Accounting Practices and E-Business Model in the US Walmart Corporation. Accounting and Finance Innovations, 3.

Nilufer, N. (2020). A critical assessment on business strategy from aviation to the retail industry during COVID-19 Pandemic: A Walmart Case. International Journal of Business Ecosystem & Strategy (2687-2293), 2(2), 8-14.

Pandey, R., Dillip, D., Jayant, J., Vashishth, K., Nikhil, N., Qi, T. J., … & Qhi, L. Y. (2021). Factors Influencing Organization Success: A Case Study of Walmart. International Journal of Tourism and Hospitality in Asia Pacific (IJTHAP), 4(2), 112-123.

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Walmart’s continued success depends on strategic planning. Strategic plans evolve and change as environmental factors, market conditions, and consumer preferences change. Developing strategic programs that provide solid guidance for tactical decision-making but remain flexible enough to respond to unanticipated challenges and opportunities is critical to an organization’s long-term success.

Strategic Planning at Walmart

 Instructions

1. Talk with your manager or conduct external research on Walmart’s strategic plan.
   • Identify three of Walmart’s most recent strategic efforts (e.g., partnering with other companies, fulfillment centers, robotics, etc.)
   • How do these efforts align with Walmart’s mission, vision, and values? Be sure to apply critical-thinking skills when analyzing the application of the new business ventures.
2. In 275 words, double-spaced, present your findings and recommendation(s).