The document discusses Walmart's history and use of management by objectives. It provides details on Walmart's founding in 1962, expansion over the following decades, and goals under current CEO Mike Duke. The summary also outlines the key aspects of management by objectives, including goal setting, employee participation, implementation of plans, and performance feedback. It notes advantages like fair performance evaluation and clear objectives, and disadvantages like potential focus on goals over other issues.
Analysis of Wal-Mart using some Strategic Management tools:
*** Value Chain
*** Strategic Position And Action Evaluation (SPACE)
*** Resource & Capabilities analysis
***
International Journal of Engineering Research and Applications (IJERA) is an open access online peer reviewed international journal that publishes research and review articles in the fields of Computer Science, Neural Networks, Electrical Engineering, Software Engineering, Information Technology, Mechanical Engineering, Chemical Engineering, Plastic Engineering, Food Technology, Textile Engineering, Nano Technology & science, Power Electronics, Electronics & Communication Engineering, Computational mathematics, Image processing, Civil Engineering, Structural Engineering, Environmental Engineering, VLSI Testing & Low Power VLSI Design etc.
Walmart's Business Strategy for Indian MarketRohit Thareja
An assessment of walmart's existing business strategy and recommendations on the basis of same. Swot Analysis, Competitive analysis and Key success Factors
Analysis of Wal-Mart using some Strategic Management tools:
*** Value Chain
*** Strategic Position And Action Evaluation (SPACE)
*** Resource & Capabilities analysis
***
International Journal of Engineering Research and Applications (IJERA) is an open access online peer reviewed international journal that publishes research and review articles in the fields of Computer Science, Neural Networks, Electrical Engineering, Software Engineering, Information Technology, Mechanical Engineering, Chemical Engineering, Plastic Engineering, Food Technology, Textile Engineering, Nano Technology & science, Power Electronics, Electronics & Communication Engineering, Computational mathematics, Image processing, Civil Engineering, Structural Engineering, Environmental Engineering, VLSI Testing & Low Power VLSI Design etc.
Walmart's Business Strategy for Indian MarketRohit Thareja
An assessment of walmart's existing business strategy and recommendations on the basis of same. Swot Analysis, Competitive analysis and Key success Factors
1Unit 1 IP Walmart[Type text][Type text][Type text]2.docxeugeniadean34240
1
Unit 1 IP: Walmart
[Type text] [Type text] [Type text]
2
Unit 1 IP: Walmart
Unit 1 Individual Project: Walmart
Human Resources Strategy MGT652-1503C-01
By
Andrew T. Robison
AIU Online
08/01/15
Company’s History
Wal-Mart is a standout amongst the best organizations according to numerous media outlets, studies, reviews and prevalent inclination by purchasers on the global market. It is evident that Sam Walton established it in the 1940s. Sam began a rebate store at the place where he grew up and soon discovered that the provincial market needed his items and business sector thought. In this way, he took an outing around the nation with his wife and returned to begin the organization that every individual now knows as Wal-Mart. Wal-Mart incorporates different levels of leadership that has power to implement policies and strategies, which endeavors to control the company’s products and brands. In this regard, Wal-Mart’s organizational structure is broken into three main three parts. It is evident that Wal-Mart’s organizational structure depicts on product, market and geographical structure. Notably, Wal-Mart is a global business organization hence its market structure clearly presents different responsibilities of the top management together with the subordinate staff (The Economist, 2006).
Company’s mission statement
Wal-Mart’s mission statement is to save customers money in order to make them live better livelihoods. It is apparent that Wal-Mart is one of the retail giants with stores scattered across the globe. The store offers its customers with a wide variety of groceries, merchandise, pharmaceuticals among other household goods. United States economy has greatly benefitted from Wal-Mart business operations. Notably, Wal-Mart has the pervasive reputation of having the least cost of any self-regarding store. This is an added advantage since the business is presently searching for items that have the most elevated quality and bear the least cost in the meantime. It remains clear that Wal-Mart is one of the main organizations, which has adequately verged on that actuality. In addition, Wal-Mart does not just carry new business to foreign showcases but also carries the business society in addition to them (Barbaro, 2006). They picked up a more amazing impart of the United States advertise in light of the easier expenses of exchange contrasted with other equal organizations.
Wal-Mart’s core values
Wal-Mart’s beliefs remain to be the foundation of its business culture. The company’s core values and beliefs are founded on striving for excellence, service to customers’, respect for individual and acting with integrity. In each week that passes, statistics indicate that more than one hundred customers shop at Wal-Mart. It is evident that ten out of eight Americans usually shop at Wal-Mart stores and this is due to their reduced prices. This move has encouraged a large number of potential Americans to do mass shopping at the store, however .
6
Competitive Advantages
MGT/498 Strategic Management
Wal-Mart is the world’s largest retailer and deals in general merchandise where the products that they deal in are varied. The largest merchandise that Wal-Mart deals in is grocery, which accounts for up to 56% of the sales (Gallo, 2013). The grocery industry is highly fragmented with several players meaning that the competition levels are very high. For Wal-Mart, there are certain strategies that are being applied to achieve competitive advantage. The company, therefore, has come up with a strategy known as everyday low prices which have helped the company to gather a huge market share. This is the same strategy that has been applied by Toyota as they manufacture low price cars that can suit low-income earners who wish to enjoy the experience of owning a car.
Wal-Mart has created a successful vendor relationship, which has enabled the company to move a mile away from the competitors such as Costco and Safeway and Kroger. Successful vendor relationship ensures that forward supply chain is flawless and that customers can get the products that they need at the best moment, and the best condition needed. This is the same criteria of competitive advantage that has been adopted in Coca-Cola and A.O Smith Water Products. Vendors are very important in ensuring that business is meeting the consumer needs and that they receive proper feedback since the vendors have close contact with the consumers. Toyota has developed such a strong relationship with its vendors who are spread across the world making it easy for them to do business compared to the competitors (Gallo, 2013).
In business the most important factor to success is communication. Most businesses have failed due to their inability to create a proper communication network. For a business such as Wal-Mart that operates several stores and deals with various suppliers, it is very important that communication is made efficient. This is what has happened in Wal-Mart, Toyota, ATT, Coca Cola, Apple, Qantas Airline, Nike and A.O Smith Water Products. Multinational, in particular, need a communication model that ensures all the international branches are linked with the home country as it ensures synergy in operation.
Wal-Mart values its employees more than any other asset that they own. Most businesses have failed to consider their employees as an asset and usually treat them as outsiders. For instance, Nike has had several instances in the 90s when they were accused of mistreating foreign workforce in Asia. Wal-Mart, ATT, and Qantas Airline have shown that a motivated employee is a productive employee. It is the employees who will serve the customers better to elicit frequent returns to business.
The two very important competitive strategies that would ensure that Wal-Mart continues to be innovative and sustainable is having efficient operations management and valuing the employees. When employees are treated well, they feel moti.
Business Strategic PlanLatisha BellKaplan UniversityMT460-.docxRAHUL126667
Business Strategic Plan
Latisha Bell
Kaplan University
MT460- Final Project :The Strategic Plan
Introduction
Businesses usually require strategic plans in order to manage market competition.
This calls for proper planning by the management team so as to achieve the planned.
This is usually done through a strategic plan document.
This is a document that is used to communicate the goals and actions needed to achieve them (Capon, Farley & Hulbert, 1987).
This document features Walmart stores for the strategic plan case.
To successfully implement a strategic plan, a corporate should define clearly their mission, vision, objectives , actions and strategies.
This helps the corporate produce a blueprint of what they are expecting to plan.
The above are mainly the cornerstones of strategic planning.
This is because if an organization clearly defines its vision, mission, objectives, strategies and actions, then it will be capable on focusing on short goals while still implementing the short goals.
2
Background Information
Walmart is one of the r known retail giants in the world.
Walmart is a retail store that deals with a wide range of home use and general use items.
These product categories range form groceries to drugs and many more other general use items.
Its customers are generally the common people and citizens of the stores environs.
Walmart is distributed in different countries making it a common and popular brand.
Walmart is a brand that has a large client base.
It has existence in around 28 countries with 11,500 stores in operation.
The key strategic model used by Walmart is that they target on improving their consumers’ experience.
This has been achieved by offering services at consumer friendly retail prizes.
Through Walmart's journey, the brand has observed a great portion of success.
3
Vision and Mission
Vision:
To be the best retailer in the hearts and minds of consumers and employees.
Mission:
Saving people money so they can live better.
Philosophy:
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.
The company’s vision aims at attracting its customers through winning their hearts with the best retail services ever.
The company’s mission aims at saving the customers money by offering the best retail services through subsidized offers.
This shows that Walmart keeps the value of integrity in its core business values.
The other value can be seen from Walmart’s philosophy that encourages teamwork.
This shows that team work is also a core business value for Walmart
4
Leadership and organizational culture
Walmart’s success strategy is based on the Porter’s Model.
It keeps is generic strategic based on cost leadership.
The organization aims at keeping their product and service prices low.
It has been greatly known for offering market subsidized prices for its products.
This becomes that main selling point of the or ...
1BUSINESS PLAN1Business Plan AssessmentKeesha WestrEttaBenton28
1
BUSINESS PLAN 1
Business Plan Assessment
Keesha Westry
University of Phoenix
STR/581
Business Plan Assessment
The document used to communicate the goals of an organization and the actions needed to achieve these goals, and the other critical element is known as a strategic plan. All organizations need to have a strategic plan because it serves several purposes. This essay will discuss the purpose of Walmart's strategic plan, key objectives, the key performance indicators, and recommend initiatives to improve the strategic plan.
The strategic plan of Walmart gives the company clarity, direction, and focus on what it is supposed to do and achieve by way of a written document. The direction and plan are achieved by connecting the organization's missions and vision by addressing the purpose, vision, and company plan (Jindal et al.,2021). The strategic plan gives the roadmap to success for Walmart. The strategic plan also drives organizational alignment in Walmart. It also communicates the message of what Walmart wants to achieve and the strategic direction of Walmart.
The key objective of Walmart is to provide safe and affordable food and other products to people globally. They will try to achieve this objective through means which enhance economic opportunity, environmental and social sustainability (Jindal et al.,2021). The second key objective of Walmart is to improve the lives of people globally. Walmart achieves market development by lowering the prices of its products and services. The low price strategy has attracted new customers in return, increasing the profits of Walmart. They have also achieved market development by diversifying the products they have to ensure that all the customer requirements are met. The market development strategies fit my plans because they take into consideration the customers' needs and finances.
Walmart has improved purchasing their goods by creating a strong e-commerce platform, making it easier for its customer to purchase goods and services. It has also improved its process by using advanced information technology systems to trace products and have a network of distribution centers to deliver products to its customers and stores. Walmart has led to the development of people by the creation of jobs globally. The low pricing strategy has also helped poor people to access goods and services at a low price, making it possible for them to meet the basic needs of life (Stankevičiūtė et al., 2012). Walmart delivers its products and services through Express delivery which delivers goods to its customers in under two hours. One can also access their products and services by going to their retail stores. Yes, there is a way to improve quality over time by reducing the delivery time of the goods to its customers.
Walmart's key performance indicators are e-commerce sales key performance indicators that surround average order size and the shopping cart abandonment rate, and the customer services key performance i ...
Running head: Strategic Analysis 1
Strategic Analysis 8
Wal-Mart Corporation: Strategic Analysis
Name: Michael Carlson
Instructor: Robert Waters
Course: Bus480
Institution: Argosy University Online
Date: Jan 6, 2016
Wal-Mart Corporation: Strategic Analysis
Overview
Wal-Mart Corporation is a leading chain of retail stores in the world. It serves various global markets in the world operating in the United States, Canada, Mexico and other countries in the world. It has its headquarters in Arkansas in the United States from where its global operations are managed. Sam Walton founded Wal-Mart Corporation in the year 1962. It became incorporated as a trading company in the year 1969 and began trading in the New York Stock Market in the year 1972. Wal-Mart has witnessed immense growth due to sound management. It had more than 3,000 stores and 750,000 employees. It had annual revenue of more than $ 100 billion as at the year 2012. Wal-Mart uses different names in the countries it operates. In Mexico it is called Walmex. It is goes by the name ASDA in the Great Britain and Seiyu in the Eastern Asian country of Japan. Wal-Mart also operates in Canada, Brazil, Argentina and Puerto Rico as a wholly owned company. Wal-Mart consumers can also shop Wal-Mart through their easy to access the website (Wal-Mart, 2014).
Mission, Vision and Values
Wal-Mart’s mission statement is “saving people money so they can live better lives”. Wal-Mart’s mission statement influences decision-making and service delivery at all Wal-Mart’s stores. Wal-Mart’s mission statement aligns to its slogan “Save money live better”. The firm executes its mission statement by offering goods to consumers at low prices. The company, however, fails in fulfilling the second component of its mission statement that is enabling people to live better lives. According to Ungar (2013), one of the major criticisms of the mission statement is the low wages it offers to its employees that make it impossible for its employees to make ends meet. People also criticise Wal-Mart due to the low quality imported products it sells to its customers. There have been numerous claims of Wal-Mart selling hazardous products to consumers in some of the stores.
Wal-Mart’s vision is “To be the best retailer in the heart and minds of consumers and employees”. It aspires to become a global leader in the retail sector. Wal-Mart has already succeeded in fulfilling the part of the vision statement that targets global leadership in the retailing industry. Its vision statement points to the hearts and minds of people. Wal-Mart provides an opportunity for its employees and consumers to benefit financially in a bid to win their hearts. Wal-Mart appeals to the hearts of its Employees by giving them an opportunity to earn wages and those of their customers by enabling them save money by selling them goods at low prices. (Wal-Mart, 2014)
According to Meeks & Che.
1
2
Wk2
Walmart - Managing Change Paper
Name
Institution
Walmart is among the biggest retail corporations in the United States and the world. It has branches in nearly all the major cities in the United States and many countries worldwide. However, the dominance of Walmart has been threatened by the rise of online and digital marketing centers that have taken advantage of lower pricing to attract customers. Online ventures have gone as far as taking advantage of the traditional Black Friday shopping that was started by Walmart. The one thing that Walmart should change is the way it treats its employees.
Strategic human resource has become influential in the 21st century as evidenced by the high number of companies that attribute their success to strategic human resource management (Hamid, 2013). The company is faced by the increasing competition across the world that threatens to finish its dominance in the retail sector. The first step towards changes starts with getting the right people to steer the change. Therefore, the success of Walmart boils down to a quality human resource team manning the company. A group of motivated employees is in a good position to develop cutting edge strategies that will help Walmart to retain its dominance in the retail sector.
Walmart should consider offering improved compensation, better work experience, and comprehensive benefits (Dessler, 2015). Transparency should also be upheld to ensure that all employees understand performance appraisals and awarding. The company should also develop new ways to attract talented employees who can guide the organization to the future. Strategic human resource management will allow Walmart to create a highly motivated workforce that can counter any strategy developed by competing organizations (Hamid, 2013). The team will also improve the current programs under Walmart Corporation.
Comprehensive benefits and good compensation has seen organizations like Google, Apple, and Microsoft succeed. It is bound to have the same effect in Walmart as the company faces increased competition.
WK3
Shared Vision and Organizational Culture
Team “A”
MGT426 – Managing Change in the Workplace
January 14, 2016
University of Phoenix
Shared Vision and Organizational Culture
Importance of Understanding Shared Vision in Change Management
Without a vision, there is no future. This is a statement that every organization understands very well and knows its implications. A shared vision is important as it plays a role in change management because it is the driving force for all organizational change it initiates. By definition, a shared vision is the guideline through which all organization processes, goals and objectives are built. Whether change is occasioned by external forces such as the political, social, economic and technological factors or internal forces such as organizational policy and structure, it is important to develop a vision to provi.
How to create sales excellence and implement strategy - Mercuri InternationalMercuri International
The Global Sales Excellence Survey is packed with powerful and practical insight from the world’s best performing companies.
It comes with a self-assessment document that you can request from Mat at Mercuri via matthew-everitt@mercuri.co.uk
It answers 2 key questions;
1) What are the differences between higher, middle and lower performing companies?
2) What are the sales excellence factors that the better performing companies concentrate on?
Established in 1960,the survey is brought to you by Mercuri International and data from 15,000 client cases, 250,000 participants, and 60 + industry sectors, every year.
We take your sales to a higher level.
http://mercuri.co.uk/how-can-mercuri-international-help
RUNNING HEAD MISSION STATEMENT MISSION STATEMENT OF DREAM C.docxcowinhelen
RUNNING HEAD: MISSION STATEMENT
MISSION STATEMENT OF DREAM COMPANY 5
Mission Statement of Dream Company
Jackie L. Howell JR
Columbia Southern University
In any company in the industry that brings many people together to work for a common goal, they need something that guides them (Dewitz, 2014). For example, the workers need to be informed their job description by the human resource manager. The human resource manager should guide, protect and nurture them to help in the delivery of desired results. As a result, the human resources mission statement plays a very significant role. It helps guides the workers and makes them stay committed to the tasks assigned to them (Dewitz, 2014). Therefore, a company should have a clear defined mission statement understood by every stakeholder. The paper provides an analysis of a company of choice and looks at some of the mission statements to help come up with a suitable mission statement.
Several big companies around the world offer various goods and services, and they tend to have one similarity. It involves their humble beginnings which leave a person wondering how they have made their up to the current state (Dewitz, 2014). After seeing how there has been a great rise in the number of businesses, there is a need for more banking systems. As a result, the company of choice involves a banking system that will help potential investors obtain the required starting capital. The current business persons face a lot of frustration from the existing banks due to high-interest rates (Dewitz, 2014). Some of them have considered leaving their business idea as they cannot meet the process of acquiring the startup capital.
The mission statements of the already operating companies do not favor many customers who mostly constitute business people (Dewitz, 2014). The mission statement forms a primary marketing strategy for any business that wants to thrive in the industry (Dewitz, 2014). It helps in capturing the company’s chief brand position and makes it remain competitive among the rivals. By studying the samples of human resources mission statements provided, they differ in some aspects. In the first example, the company here only stresses on the idea offering quality products and services to the customers. It does not indicate how the employees will be equipped, motivated and guided to implement the quality customer service.
The second sample seems to the most attractive and suitable to market the company as compared to the rest. It ensures that all customers receive quality products and services. Also, it first provides that every worker is equipped with appropriate skills through training to enable them to deliver what customers need. The mission statements work well when it addresses both the needs of the consumers and workers (Fazlzadeh, & Malekpour, 2015). It ensures that employees have a safe and comfortable working environment. ...
1Unit 1 IP Walmart[Type text][Type text][Type text]2.docxeugeniadean34240
1
Unit 1 IP: Walmart
[Type text] [Type text] [Type text]
2
Unit 1 IP: Walmart
Unit 1 Individual Project: Walmart
Human Resources Strategy MGT652-1503C-01
By
Andrew T. Robison
AIU Online
08/01/15
Company’s History
Wal-Mart is a standout amongst the best organizations according to numerous media outlets, studies, reviews and prevalent inclination by purchasers on the global market. It is evident that Sam Walton established it in the 1940s. Sam began a rebate store at the place where he grew up and soon discovered that the provincial market needed his items and business sector thought. In this way, he took an outing around the nation with his wife and returned to begin the organization that every individual now knows as Wal-Mart. Wal-Mart incorporates different levels of leadership that has power to implement policies and strategies, which endeavors to control the company’s products and brands. In this regard, Wal-Mart’s organizational structure is broken into three main three parts. It is evident that Wal-Mart’s organizational structure depicts on product, market and geographical structure. Notably, Wal-Mart is a global business organization hence its market structure clearly presents different responsibilities of the top management together with the subordinate staff (The Economist, 2006).
Company’s mission statement
Wal-Mart’s mission statement is to save customers money in order to make them live better livelihoods. It is apparent that Wal-Mart is one of the retail giants with stores scattered across the globe. The store offers its customers with a wide variety of groceries, merchandise, pharmaceuticals among other household goods. United States economy has greatly benefitted from Wal-Mart business operations. Notably, Wal-Mart has the pervasive reputation of having the least cost of any self-regarding store. This is an added advantage since the business is presently searching for items that have the most elevated quality and bear the least cost in the meantime. It remains clear that Wal-Mart is one of the main organizations, which has adequately verged on that actuality. In addition, Wal-Mart does not just carry new business to foreign showcases but also carries the business society in addition to them (Barbaro, 2006). They picked up a more amazing impart of the United States advertise in light of the easier expenses of exchange contrasted with other equal organizations.
Wal-Mart’s core values
Wal-Mart’s beliefs remain to be the foundation of its business culture. The company’s core values and beliefs are founded on striving for excellence, service to customers’, respect for individual and acting with integrity. In each week that passes, statistics indicate that more than one hundred customers shop at Wal-Mart. It is evident that ten out of eight Americans usually shop at Wal-Mart stores and this is due to their reduced prices. This move has encouraged a large number of potential Americans to do mass shopping at the store, however .
6
Competitive Advantages
MGT/498 Strategic Management
Wal-Mart is the world’s largest retailer and deals in general merchandise where the products that they deal in are varied. The largest merchandise that Wal-Mart deals in is grocery, which accounts for up to 56% of the sales (Gallo, 2013). The grocery industry is highly fragmented with several players meaning that the competition levels are very high. For Wal-Mart, there are certain strategies that are being applied to achieve competitive advantage. The company, therefore, has come up with a strategy known as everyday low prices which have helped the company to gather a huge market share. This is the same strategy that has been applied by Toyota as they manufacture low price cars that can suit low-income earners who wish to enjoy the experience of owning a car.
Wal-Mart has created a successful vendor relationship, which has enabled the company to move a mile away from the competitors such as Costco and Safeway and Kroger. Successful vendor relationship ensures that forward supply chain is flawless and that customers can get the products that they need at the best moment, and the best condition needed. This is the same criteria of competitive advantage that has been adopted in Coca-Cola and A.O Smith Water Products. Vendors are very important in ensuring that business is meeting the consumer needs and that they receive proper feedback since the vendors have close contact with the consumers. Toyota has developed such a strong relationship with its vendors who are spread across the world making it easy for them to do business compared to the competitors (Gallo, 2013).
In business the most important factor to success is communication. Most businesses have failed due to their inability to create a proper communication network. For a business such as Wal-Mart that operates several stores and deals with various suppliers, it is very important that communication is made efficient. This is what has happened in Wal-Mart, Toyota, ATT, Coca Cola, Apple, Qantas Airline, Nike and A.O Smith Water Products. Multinational, in particular, need a communication model that ensures all the international branches are linked with the home country as it ensures synergy in operation.
Wal-Mart values its employees more than any other asset that they own. Most businesses have failed to consider their employees as an asset and usually treat them as outsiders. For instance, Nike has had several instances in the 90s when they were accused of mistreating foreign workforce in Asia. Wal-Mart, ATT, and Qantas Airline have shown that a motivated employee is a productive employee. It is the employees who will serve the customers better to elicit frequent returns to business.
The two very important competitive strategies that would ensure that Wal-Mart continues to be innovative and sustainable is having efficient operations management and valuing the employees. When employees are treated well, they feel moti.
Business Strategic PlanLatisha BellKaplan UniversityMT460-.docxRAHUL126667
Business Strategic Plan
Latisha Bell
Kaplan University
MT460- Final Project :The Strategic Plan
Introduction
Businesses usually require strategic plans in order to manage market competition.
This calls for proper planning by the management team so as to achieve the planned.
This is usually done through a strategic plan document.
This is a document that is used to communicate the goals and actions needed to achieve them (Capon, Farley & Hulbert, 1987).
This document features Walmart stores for the strategic plan case.
To successfully implement a strategic plan, a corporate should define clearly their mission, vision, objectives , actions and strategies.
This helps the corporate produce a blueprint of what they are expecting to plan.
The above are mainly the cornerstones of strategic planning.
This is because if an organization clearly defines its vision, mission, objectives, strategies and actions, then it will be capable on focusing on short goals while still implementing the short goals.
2
Background Information
Walmart is one of the r known retail giants in the world.
Walmart is a retail store that deals with a wide range of home use and general use items.
These product categories range form groceries to drugs and many more other general use items.
Its customers are generally the common people and citizens of the stores environs.
Walmart is distributed in different countries making it a common and popular brand.
Walmart is a brand that has a large client base.
It has existence in around 28 countries with 11,500 stores in operation.
The key strategic model used by Walmart is that they target on improving their consumers’ experience.
This has been achieved by offering services at consumer friendly retail prizes.
Through Walmart's journey, the brand has observed a great portion of success.
3
Vision and Mission
Vision:
To be the best retailer in the hearts and minds of consumers and employees.
Mission:
Saving people money so they can live better.
Philosophy:
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.
The company’s vision aims at attracting its customers through winning their hearts with the best retail services ever.
The company’s mission aims at saving the customers money by offering the best retail services through subsidized offers.
This shows that Walmart keeps the value of integrity in its core business values.
The other value can be seen from Walmart’s philosophy that encourages teamwork.
This shows that team work is also a core business value for Walmart
4
Leadership and organizational culture
Walmart’s success strategy is based on the Porter’s Model.
It keeps is generic strategic based on cost leadership.
The organization aims at keeping their product and service prices low.
It has been greatly known for offering market subsidized prices for its products.
This becomes that main selling point of the or ...
1BUSINESS PLAN1Business Plan AssessmentKeesha WestrEttaBenton28
1
BUSINESS PLAN 1
Business Plan Assessment
Keesha Westry
University of Phoenix
STR/581
Business Plan Assessment
The document used to communicate the goals of an organization and the actions needed to achieve these goals, and the other critical element is known as a strategic plan. All organizations need to have a strategic plan because it serves several purposes. This essay will discuss the purpose of Walmart's strategic plan, key objectives, the key performance indicators, and recommend initiatives to improve the strategic plan.
The strategic plan of Walmart gives the company clarity, direction, and focus on what it is supposed to do and achieve by way of a written document. The direction and plan are achieved by connecting the organization's missions and vision by addressing the purpose, vision, and company plan (Jindal et al.,2021). The strategic plan gives the roadmap to success for Walmart. The strategic plan also drives organizational alignment in Walmart. It also communicates the message of what Walmart wants to achieve and the strategic direction of Walmart.
The key objective of Walmart is to provide safe and affordable food and other products to people globally. They will try to achieve this objective through means which enhance economic opportunity, environmental and social sustainability (Jindal et al.,2021). The second key objective of Walmart is to improve the lives of people globally. Walmart achieves market development by lowering the prices of its products and services. The low price strategy has attracted new customers in return, increasing the profits of Walmart. They have also achieved market development by diversifying the products they have to ensure that all the customer requirements are met. The market development strategies fit my plans because they take into consideration the customers' needs and finances.
Walmart has improved purchasing their goods by creating a strong e-commerce platform, making it easier for its customer to purchase goods and services. It has also improved its process by using advanced information technology systems to trace products and have a network of distribution centers to deliver products to its customers and stores. Walmart has led to the development of people by the creation of jobs globally. The low pricing strategy has also helped poor people to access goods and services at a low price, making it possible for them to meet the basic needs of life (Stankevičiūtė et al., 2012). Walmart delivers its products and services through Express delivery which delivers goods to its customers in under two hours. One can also access their products and services by going to their retail stores. Yes, there is a way to improve quality over time by reducing the delivery time of the goods to its customers.
Walmart's key performance indicators are e-commerce sales key performance indicators that surround average order size and the shopping cart abandonment rate, and the customer services key performance i ...
Running head: Strategic Analysis 1
Strategic Analysis 8
Wal-Mart Corporation: Strategic Analysis
Name: Michael Carlson
Instructor: Robert Waters
Course: Bus480
Institution: Argosy University Online
Date: Jan 6, 2016
Wal-Mart Corporation: Strategic Analysis
Overview
Wal-Mart Corporation is a leading chain of retail stores in the world. It serves various global markets in the world operating in the United States, Canada, Mexico and other countries in the world. It has its headquarters in Arkansas in the United States from where its global operations are managed. Sam Walton founded Wal-Mart Corporation in the year 1962. It became incorporated as a trading company in the year 1969 and began trading in the New York Stock Market in the year 1972. Wal-Mart has witnessed immense growth due to sound management. It had more than 3,000 stores and 750,000 employees. It had annual revenue of more than $ 100 billion as at the year 2012. Wal-Mart uses different names in the countries it operates. In Mexico it is called Walmex. It is goes by the name ASDA in the Great Britain and Seiyu in the Eastern Asian country of Japan. Wal-Mart also operates in Canada, Brazil, Argentina and Puerto Rico as a wholly owned company. Wal-Mart consumers can also shop Wal-Mart through their easy to access the website (Wal-Mart, 2014).
Mission, Vision and Values
Wal-Mart’s mission statement is “saving people money so they can live better lives”. Wal-Mart’s mission statement influences decision-making and service delivery at all Wal-Mart’s stores. Wal-Mart’s mission statement aligns to its slogan “Save money live better”. The firm executes its mission statement by offering goods to consumers at low prices. The company, however, fails in fulfilling the second component of its mission statement that is enabling people to live better lives. According to Ungar (2013), one of the major criticisms of the mission statement is the low wages it offers to its employees that make it impossible for its employees to make ends meet. People also criticise Wal-Mart due to the low quality imported products it sells to its customers. There have been numerous claims of Wal-Mart selling hazardous products to consumers in some of the stores.
Wal-Mart’s vision is “To be the best retailer in the heart and minds of consumers and employees”. It aspires to become a global leader in the retail sector. Wal-Mart has already succeeded in fulfilling the part of the vision statement that targets global leadership in the retailing industry. Its vision statement points to the hearts and minds of people. Wal-Mart provides an opportunity for its employees and consumers to benefit financially in a bid to win their hearts. Wal-Mart appeals to the hearts of its Employees by giving them an opportunity to earn wages and those of their customers by enabling them save money by selling them goods at low prices. (Wal-Mart, 2014)
According to Meeks & Che.
1
2
Wk2
Walmart - Managing Change Paper
Name
Institution
Walmart is among the biggest retail corporations in the United States and the world. It has branches in nearly all the major cities in the United States and many countries worldwide. However, the dominance of Walmart has been threatened by the rise of online and digital marketing centers that have taken advantage of lower pricing to attract customers. Online ventures have gone as far as taking advantage of the traditional Black Friday shopping that was started by Walmart. The one thing that Walmart should change is the way it treats its employees.
Strategic human resource has become influential in the 21st century as evidenced by the high number of companies that attribute their success to strategic human resource management (Hamid, 2013). The company is faced by the increasing competition across the world that threatens to finish its dominance in the retail sector. The first step towards changes starts with getting the right people to steer the change. Therefore, the success of Walmart boils down to a quality human resource team manning the company. A group of motivated employees is in a good position to develop cutting edge strategies that will help Walmart to retain its dominance in the retail sector.
Walmart should consider offering improved compensation, better work experience, and comprehensive benefits (Dessler, 2015). Transparency should also be upheld to ensure that all employees understand performance appraisals and awarding. The company should also develop new ways to attract talented employees who can guide the organization to the future. Strategic human resource management will allow Walmart to create a highly motivated workforce that can counter any strategy developed by competing organizations (Hamid, 2013). The team will also improve the current programs under Walmart Corporation.
Comprehensive benefits and good compensation has seen organizations like Google, Apple, and Microsoft succeed. It is bound to have the same effect in Walmart as the company faces increased competition.
WK3
Shared Vision and Organizational Culture
Team “A”
MGT426 – Managing Change in the Workplace
January 14, 2016
University of Phoenix
Shared Vision and Organizational Culture
Importance of Understanding Shared Vision in Change Management
Without a vision, there is no future. This is a statement that every organization understands very well and knows its implications. A shared vision is important as it plays a role in change management because it is the driving force for all organizational change it initiates. By definition, a shared vision is the guideline through which all organization processes, goals and objectives are built. Whether change is occasioned by external forces such as the political, social, economic and technological factors or internal forces such as organizational policy and structure, it is important to develop a vision to provi.
How to create sales excellence and implement strategy - Mercuri InternationalMercuri International
The Global Sales Excellence Survey is packed with powerful and practical insight from the world’s best performing companies.
It comes with a self-assessment document that you can request from Mat at Mercuri via matthew-everitt@mercuri.co.uk
It answers 2 key questions;
1) What are the differences between higher, middle and lower performing companies?
2) What are the sales excellence factors that the better performing companies concentrate on?
Established in 1960,the survey is brought to you by Mercuri International and data from 15,000 client cases, 250,000 participants, and 60 + industry sectors, every year.
We take your sales to a higher level.
http://mercuri.co.uk/how-can-mercuri-international-help
RUNNING HEAD MISSION STATEMENT MISSION STATEMENT OF DREAM C.docxcowinhelen
RUNNING HEAD: MISSION STATEMENT
MISSION STATEMENT OF DREAM COMPANY 5
Mission Statement of Dream Company
Jackie L. Howell JR
Columbia Southern University
In any company in the industry that brings many people together to work for a common goal, they need something that guides them (Dewitz, 2014). For example, the workers need to be informed their job description by the human resource manager. The human resource manager should guide, protect and nurture them to help in the delivery of desired results. As a result, the human resources mission statement plays a very significant role. It helps guides the workers and makes them stay committed to the tasks assigned to them (Dewitz, 2014). Therefore, a company should have a clear defined mission statement understood by every stakeholder. The paper provides an analysis of a company of choice and looks at some of the mission statements to help come up with a suitable mission statement.
Several big companies around the world offer various goods and services, and they tend to have one similarity. It involves their humble beginnings which leave a person wondering how they have made their up to the current state (Dewitz, 2014). After seeing how there has been a great rise in the number of businesses, there is a need for more banking systems. As a result, the company of choice involves a banking system that will help potential investors obtain the required starting capital. The current business persons face a lot of frustration from the existing banks due to high-interest rates (Dewitz, 2014). Some of them have considered leaving their business idea as they cannot meet the process of acquiring the startup capital.
The mission statements of the already operating companies do not favor many customers who mostly constitute business people (Dewitz, 2014). The mission statement forms a primary marketing strategy for any business that wants to thrive in the industry (Dewitz, 2014). It helps in capturing the company’s chief brand position and makes it remain competitive among the rivals. By studying the samples of human resources mission statements provided, they differ in some aspects. In the first example, the company here only stresses on the idea offering quality products and services to the customers. It does not indicate how the employees will be equipped, motivated and guided to implement the quality customer service.
The second sample seems to the most attractive and suitable to market the company as compared to the rest. It ensures that all customers receive quality products and services. Also, it first provides that every worker is equipped with appropriate skills through training to enable them to deliver what customers need. The mission statements work well when it addresses both the needs of the consumers and workers (Fazlzadeh, & Malekpour, 2015). It ensures that employees have a safe and comfortable working environment. ...
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
PayPal Services Features-
🟢 Email Access
🟢 Bank Added
🟢 Card Verified
🟢 Full SSN Provided
🟢 Phone Number Access
🟢 Driving License Copy
🟢 Fasted Delivery
Client Satisfaction is Our First priority. Our services is very appropriate to buy. We assume that the first-rate way to purchase our offerings is to order on the website. If you have any worry in our cooperation usually You can order us on Skype or Telegram.
24/7 Hours Reply/Please Contact
usawebmarketEmail: support@usawebmarket.com
Skype: usawebmarket
Telegram: @usawebmarket
WhatsApp: +1(218) 203-5951
USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
The key differences between the MDR and IVDR in the EUAllensmith572606
In the European Union (EU), two significant regulations have been introduced to enhance the safety and effectiveness of medical devices – the In Vitro Diagnostic Regulation (IVDR) and the Medical Device Regulation (MDR).
https://mavenprofserv.com/comparison-and-highlighting-of-the-key-differences-between-the-mdr-and-ivdr-in-the-eu/
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
Call 8867766396 Satta Matka Dpboss Matka Guessing Satta batta Matka 420 Satta...
Odec assign ul
1. UC2F1101 IBM Individual assignment on ODEC 2011
Wal-Mart‟s Logo (Walmart,2001)
Intoduction
Wal-mart was formed in 1962 in United States of America. The first Wal-Mart discount store
was opened in Rogers, Ark. The company broadened its business to 276 stores in 11 states by the
end of 10 years time. They became an international company in 1991 by opening their Sam‟s
Club near Mexico City.
The CEO of Wal-Mart Stores is Mike Duke (Wal-Mart annual report, 2011).
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 1
2. UC2F1101 IBM Individual assignment on ODEC 2011
Wal-Mart‟s global mission statement. (Wal-Mart annual report, 2011).
Wal-Mart’s Objectives.
To work with CEO of Wal-Mart US, Bill Simon and his team to achieve
positive comparable store sales.
To find tremendous opportunity to grow in US through supercenters and new
formats, such as Wal-Mart ExpressTM in urban and rural markets.
To attract new members through improved member experiences.
To recruit, develop, and retain future leaders is important to Wal-Mart success
and give importance for women leaders.
To expand into new markets through web presence where Wal-Mart does not
have physical appearance.
Objectives taken from CEO’s statement (Wal-Mart annual report, 2011)
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 2
3. UC2F1101 IBM Individual assignment on ODEC 2011
They provide their services to customers 200 million times per week among 9667 retail units
situated in 28 different countries. The company employee‟s 2.1 million associates around the
world.
(Walmart,2001)
The company introduced their online store Walmart.com in 2000 where customers could reach
products easily in a more convenient manner. More than 1,000,000 products are available in
Warlmart.com and they provide special offers during holidays (Wal-Mart,2001).
(Walmart.com, 2011)
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 3
4. UC2F1101 IBM Individual assignment on ODEC 2011
Wal-Mart is a famous company among world that has been using Management by Objectives
system-MBO for the past years until now (Flood& Flood,2000). The company‟s success always
had depended on the way the management handles the new challenging problems that arise in the
business world. The company top level managers and employees have been following to achieve
set goals which are finalized to reach for the success of the organization. Hence, the assignment
would be continued on a description of management by objective system with relating on how
Wal-Mart Company arranges their working system focusing on it. Moreover it would also look
into some advantages and disadvantages of this system.
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 4
5. UC2F1101 IBM Individual assignment on ODEC 2011
SWOT Analysis of Wal-Mart.
Wal-mart Strengths Wal-mart Weakness
• Customer oriented • No formal mission statement
• SAM’S Club customers able to buy in • Membership only for SAM’S Club
bulk • Keep poor performing employees on
• Supercenters offer one stop shopping hand
• Satisfaction guaranteed programs • Old fashioned store policies
promoting customer goodwill • Few women and minorities in top
• Buy from local merchants when possible management
• Stock ownership and profit-sharing with
employees
• Leads industry in information
technology
• Ongoing development of its employees
• Strong community involvement
SWOT Analysis
Wal-Mart Opportunities Wal-Mart Threats
• Consumers want ease of shopping
• Internet shopping growing • Regulation of Wal-Mart pharmacies
• Dollar value increasing • Small towns do not want entry of
• Similar shopping patterns worldwide Wal-Mart
• Retail sales expected to increase • Bad media exposure for Kathie Lee
• Environment conscious consumers Brand
• Elderly population growing • Variety of competition
• Asian market virtually untapped by retail nationally, regionally and locally
• European Market untapped by retail • Substitute products more easily
because of intense competition
Source taken from (SooperTutorials,2011).
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 5
6. UC2F1101 IBM Individual assignment on ODEC 2011
As stated by DuBrin (2008, p.136), „Management by objectives (MBO) is a systematic
application of goal setting and planning to help individuals and firms to be more productive‟. It
is a system where in which the organizations leading managers set the key objectives that need to
be achieve and those objectives are focused when setting individual goals, so that a noteworthy
result would come which leads to success of the organization (DuBrin, 2008). According to
Koontz & Weihrich (2006, p.90), „Management by objectives is a comprehensive managerial
system that integrates many managerial activities in a systematic manner that is consciously
direct towards the effective and efficient achievement of organizational and individual
objectives‟. It is known that management by objectives is a widely used system in the world.
However, still there is no fixed definition for it. There are various ways in which people define
this system. People see it as a motivational technique, some think it is an appraisal tool and
others refer to it as controlling device. Prior to this it is known that this system is defined and
applied in various ways (Koontz & Weihrich, 2006).
Management by objectives consists of four main processes which are known to be establishing
goals, participation of employees in goal setting, creation of plans to achieve objectives and
performance feedback (McMillan,2011). The first process starts when the top management set
clear goals and objectives which are regarded to the mission and vision of the organization. The
middle managers then work with lower level managers to set different departmental goals. The
lower managers or unit managers share this with employees to set individual goals. These goals
are focused to complete the mission and vision. In order to enhance the goals to be effective
SMART acronym is used to set goals. Where „S‟ indicates specific, „M‟ indicates measurable,
„A‟ indicates agreed/achievable, „R‟ indicates realistic and „T‟ indicates time related (Mind
Tools,2011).
Specific
Measurable
Achievable
Realistic
Time Framed.
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 6
7. UC2F1101 IBM Individual assignment on ODEC 2011
Sometimes the goals are not that clearly set that we are not sure when it is achieved. Therefore,
Goals need to be specific which means it has to be clearly defined and understood so that the
employees would be able to make sure when it is achieved. Measurable means that the goals
must contain the amount needed to be achieved. For example for a store they need to specify the
percentage they want to target for sales. The company should target for goals that they are
capable enough to achieve. It is very important that the goals we set should be realistic which
means before we set we must make sure whether we have enough energy or talent that is needed
to achieve the goal. In other words the company must be a bit honest while in setting up the
objectives or goals. The last one is the time frame given to the goal to be achieved. It acts as a
motivating factor so that the people would try to achieve the result within the time given time
limit (Richmond, 2011).In such a way, Wal-Mart has been setting their objectives for the past
years which made them successful around the world. Their objectives do follow these
characteristics that they are being able to achieve those in the time limit given.
(Wal-Mart annual report, 2011)
The second process is employees participation in the decision making process. This is the
process where employees and managers work together so that they clearly set the work to be
done in a much effective and efficient manner. Thus making the employees feel satisfied and
they feel they are being valued to share views within the decisions made to the future progress of
the company. Wal-Mart gives importance to participate their employees in the meetings to share
their views. In fact, the company does have „open-door policy‟ where employees can share their
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 7
8. UC2F1101 IBM Individual assignment on ODEC 2011
view and suggestions to the managers (Wal-Mart, 2011).The founder of the Wal-Mart Sam
Walton said, „It‟s more important than ever that we develop leaders who are servants, who listen
to their partners-their associates-in a way that creates wonderful morale to help the whole team
accomplish an overall goal‟ (Wal-Mart,2011).
Suzan Chambers Executive Vice President chatting to associates right before a meeting
(Wal-mart,2001).
The next process is implementing plans which mean the objectives and set goals are changed
into action. The departmental manager‟s assign employees the task to complete which are
aligned to the organizational objectives. This includes the necessary resources being provided to
perform the task. Thus a time limit given to perform the task so that the goal set would not go for
a waste ( Rahman, 2009).In Wal-Mart even they does the same thing and their managers had
proved that their plans are worth enough. Cathy day a pharmacy manager of Wal-Mart proved
that her plan of action worked best to reach their goal. The pharmacy employees wore pins with
the saying, „Why wait an hour someplace else?‟ Through this phrase being focused their team
worked serving for customers which improved customer service to an excellent level. Thus
increasing the sales by nearly 300% and build customer loyalty too (Wal-Mart, 2001).
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 8
9. UC2F1101 IBM Individual assignment on ODEC 2011
The last process is where the employees are given feedback for their performance. They
feedback time would be set to an agreed time period which means for example at the year ending
period. If the feedback is good it would be based on the efficient work, time, and energy given
by the employee to achieve the goal or objective. If the feedback is not good and objective and
set goal is not achieved as planned then managers and group member would sit and find out the
reason and what was the thing that cause the result like this. They would analyze the case and set
new clear objectives to be attained within a given time period. Through this process the
employees are being informed about their own progress and what else they need to achieve
(DuBrin, 2008). Company Wal-Mart also follows the process and it has been shown very clearly
that they provide the employees with required training specifically designed to the particular area
which the employee works in and also there goal is to provide way for employees to improve
their ability through giving them the opportunity to gain knowledge from various training
programs. Wal-Mart Company make note of that developing their employees is the key
advantage they gain for the improvement of the service given from the organization (Wal-
Mart,2011).
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 9
10. UC2F1101 IBM Individual assignment on ODEC 2011
Advantages of using MBO system.
No matter which system a company uses they gain some advantages and disadvantages from it.
Likewise, Management by objectives also gives some advantages to companies. The system
provides a very fair way of evaluating the performance of employees. As everyone is given their
individual goal set with time limit provided to achieve and that particular employee‟s
performance would be judged for the actual completion of goal. Through this the employees in
that organization would feel satisfied for the way them being judged and find that all of them are
treated in the same manner (Archer North,2010).Therefore for a company like Wal-Mart
handling a diversified group of employees gain this benefit by using the MBO system.
Another benefit is that the system itself forces to bring out clear objectives which make the
participation and ideas from all levels of the organization. Moreover, all the staffs starting from
higher to lower management would have a broader knowledge of what to be focused on and
achieved (Hahn, 2007). In addition, the high employee involvement makes the employees to be
satisfied and committed to the organization. They are happy that they are being involved in
decision making to the organization which they feel their work being valued.
“We are a stronger team when we include different perspectives and ideas at every
level and across all areas of our company.”
– Mike Duke, President and CEO, Wal-Mart- (Wal-Mart diversity and inclusion report, 2011).
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 10
11. UC2F1101 IBM Individual assignment on ODEC 2011
Prior to this, the discussions that are held to set goals would enhance better communication and
understanding between the managers and employees. Thus, making the employer and employee
relationship better and which make them much easier to solve problems that arise in the working
environment (Rahman, 2009).Many huge companies such as Wal-Mart could gain many
advantages from the management by objectives system. Wal-mart Company that consists more
than 2 million employees worldwide (Wal-Mart,2011), would find this system beneficial for
them in order to maintain the employee satisfaction and commitment.
Mike Duke, President and Chief Executive Officer chatting with associates (Wal-Mart
annual report,2011).
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 11
12. UC2F1101 IBM Individual assignment on ODEC 2011
Mostly it also helps the whole organization to have a clear understanding of what is required
from them. Moreover, this system encourages the organizations output in a way that everything
goes in an organized manner to bring out good revenue for the year. Wal-Mart gains profit by
following the MBO system.
(Wal-Mart Annual report, 2009)
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 12
13. UC2F1101 IBM Individual assignment on ODEC 2011
Disadvantages of using MBO system
However, Management by objectives system makes company to face some disadvantages as
well. It makes the whole organization to be more focused in achieving the goals and objectives
which sometime makes them to lack behind other important issues unfocused. For example the
objective to be focused can be to „In FY12 we reduce cost to 2% to 4%‟, and to achieve this
company might lack behind the maintenance work. Managers being human beings they make
mistakes while evaluating the performance in a favored manner. This could be a common issue
that could be seen from the system. There might be a chance where the managers who evaluate
employee performance are not well trained and they just do it without paying much attention as
they are not fully motivated by giving knowledge about the system. This whole problem can lead
to low satisfaction level among the employees and may result failure at the end (Hahn,2007).As
Wal-Mart being a big successful company they need to focus on minimizing such issues in their
system in order to remain competitive and to gain customer loyalty. There might come times
when managers fail to give enough knowledge about the philosophy of Management by
Objectives. In this case it would lead to a failure of the system as it involves high level of
employee involvement. While in the process employee‟s performance is being evaluated, they
must know what is required by them and what are the benefits gained from such a system. The
failure in these steps would not bring the best outcome from the system to the
organization.(Koontz & Weihrich, 2006). Sometimes managers set goal and objectives that are
too high which makes employees demotivated which may affect the whole work of organization
(Hahn,2007). Likewise, there are situations where managers fail to be flexible enough in goal
setting and in performance judgment process which makes employees to progress to the work
slower. Thus, management sometimes hesitates to give rewards or promotion to the achievement
of goals (McMillan,2011).These common issues should be focused by the management of such
companies like Wal-Mart as they follow MBO process.
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 13
14. UC2F1101 IBM Individual assignment on ODEC 2011
Conclusion
To conclude, I would like to say that management by objective is an effective system to be used
which could bring out various benefits to the organization. However, those companies who use
the system must focus to those issues which may lead to conflict and try as much to minimize
those issues.
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 14
15. UC2F1101 IBM Individual assignment on ODEC 2011
References
Archer North, 2010. Results Method: Management by Objectives (MBO). [online] Available at:
http://www.performance-appraisal.com/results.htm [Accessed 18thAugust 2011]
ArticlesGratuits.com, 2007. Management by Objectives. [online] Available at:
http://en.articlesgratuits.com/article.php?id_article=1443 [Accessed 20th August 2011]
Career-intelligence.com, 2011. Setting SMART Goals: A better way to track your progress.
[online] Available at: http://www.career-intelligence.com/management/SmartGoals.asp [Accessed
15th August 2011]
Daffodil International University Forum, 2009. Management by Objectives. [online] Available
at: http://forum.daffodilvarsity.edu.bd/index.php?topic=305.0#top [Accessed 16th August 2011]
DuBrin, A. J., 2008. Essentials of Management. [e-book] Cengage learning. Available at:
http://books.google.com/books?id=dNThzoekGQcC&printsec=frontcover#v=onepage&q&f=false
[Accessed 17th August 2011]
Flood, P. & Flood, P.C., 2000. Managing strategy implementation: an organizational behavior
perspective. [e-book] Wiley-Blackwell. Available at:
http://books.google.com.my/books?id=4xe2ZmFpSrgC&pg=PA33&lpg=PA33&dq=walmart+uses+mbo&s
ource=bl&ots=24OVq_2MgZ&sig=DoCJwEcW8G3qp3NO4ZOeBzTADPc&hl=en&ei=y61OTvmWCYvxrQfG
0-GZAw&sa=X&oi [Accessed 15th August 2011]
Koontz, H. & Weihrich, H.,2006. Essentials of Management: an international perspective.
Available at:
http://books.google.com/books?id=OSAkMZ3SMQ0C&pg=PA90&dq=management+by+objectives+exam
ples&hl=en&ei=omY6Tvy4HM-
qrAef6JAh&sa=X&oi=book_result&ct=result&resnum=#v=onepage&q=management%20by%20objective
s%20examples&f=false [Accessed 15th August 2011]
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 15
16. UC2F1101 IBM Individual assignment on ODEC 2011
Mind Tools, 2011. Management by objectives (MBO): motivating people by aligning their
objectives with the goals of the organization. [online] Available at:
http://www.mindtools.com/pages/article/newTMM_94.htm [Accessed 14th August 2011]
Reference for business, 2011. Management Styles. [online] Available at:
http://www.referenceforbusiness.com/management/Log-Mar/Management-Styles.html [Accessed
14th August 2011]
SooperTutorials, 2011. Wal-Mart Swot Analysis. [online] Available at:
http://www.soopertutorials.com/business/strategic-management/1846-wal-mart-swot-analysis.html
[Accessed 15th August 2011]
Walmartstores.com, 2001. Walmartstores.com. [online] Available at: http://walmartstores.com/
[Accessed 15th August 2011]
Wal-Mart-Sustainability Progress to Date 2007-2008, 2011. Wal-Mart-Sustainability Progress to
Date 2007-2008. [Online] Available at:
http://walmartstores.com/sites/sustainabilityreport/2007/index.html [Accessed 17th August 2011]
Walmart, 2001.Annual report 2011. [Online] Available at:
http://walmartstores.com/sites/AnnualReport/2011/financials/Walmart_2011_Annual_Report.pdf
[Accessed 16th August 2011]
Walmart,2001.Annual report 2009. [Online] Available at:
http://walmartstores.com/Search/?q=employee%20satisfaction&t=a&p=1&s=r&fd=a&fa=p [Accessed
16th August 2011]
Walmart,2001.Diversity and inclusion report 2011.[Online] Available at:
http://walmartstores.com/Search/?q=diversity%20and%20inclusion%20at%20walmart&t=a&p=1&s=r&f
d=a&fa=p [Accessed 17th August 2011]
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 16
17. UC2F1101 IBM Individual assignment on ODEC 2011
Mariyam Ulya Asim/TP021480/ University College of Technology and Innovation. Page 17