Walmart Inc. Company
Walmart Company uses multiple strategies to attract customers and achieve business goals. The company deals with retail and wholesale of merchandised products and eCommerce (Lu, 2019). Strategies management plays an essential role in the company by tracking the progress of the annual plan (Rothaermel, 2016). It creates a high level of awareness of organization gaps and provides focus on what activities that will make the company more attractive. This paper aims to describe multiple strategies used by Walmart Company.
Walmart has adopted a corporate strategy and business strategy. Corporate strategy involves searching value and competitive advantage through participation in different industries and markets (Andersen & Andersson, 2017). Walmart Company participates in eCommerce to reach more customers through online sales of products. It operates chains of hypermarkets, discount department stores, and grocery stores and uses corporate strategy to look at how the business impacts each other. It uses a corporate strategy to manage resources, risk, and return across the firm without focusing on competitive advantage. Corporate strategy has enabled Walmart Company to allocate resources, portfolio management, plan organizational design, and ensure strategic tradeoffs (Andersen & Andersson, 2017).
Walmart Company has also adopted a business strategy that involves the search for competitive advantage within a single business line (Braun, Latham & Cannatelli, 2019). It uses related-constraint diversification because it earns less than 70% from its main business line and its other business line share a product, technological, and distribution lines (Braun, Latham & Cannatelli, 2019). The business strategy enables the company to develop a business plan, which is the big plan for the conceptual structure of the business model. Business strategy has enabled the company to create a new market, which is Ecommerce used in sales of products online (Park & Mithas, 2020).
In conclusion, Walmart uses to strategic management to track the progress of the annual plan. It uses corporate strategy and business strategy to achieve a competitive advantage. Corporate strategy involves searching value and competitive advantage through participation in different industries and markets. It has also adopted a business strategy that requires a search for a competitive advantage within a single business line. The plans are necessary because they create a high level of awareness of organization gaps.
References
Andersen, T. J., & Andersson, U. (2017). Multinational corporate strategy-making: Integrating international business and strategic management. The Responsive Global Organization: New Insights from Global Strategy and International Business, 13. https://www.emerald.com/insight/content/doi/10.1108/978-1-78714-831-420171001/full/html
Braun, M., Latham, S., & Cannatelli, B. (2019). Strategy and business models: why winning companies need both. Journal of Business Strategy. https://www.emerald.com/insight/content/doi/10.1108/JBS-01-2019-0005/full/html
Lu, M. (2019). Evaluation of Financial Situation of Walmart Company. https://dspace.vsb.cz/bitstream/handle/10084/135576/LUM0006_EKF_B6202_6202R010_2019.pdf?sequence=1
Park, Y., & Mithas, S. (2020). ORGANIZED COMPLEXITY OF DIGITAL BUSINESS STRATEGY: A CONFIGURATIONAL PERSPECTIVE. MIS Quarterly, 44(1). http://search.ebscohost.com/login.aspx?direct=true&profile=ehost&scope=site&authtype=crawler&jrnl=02767783&AN=141995167&h=JArMmIOBjvLqQOO6N5JezHIUcxw3uOz%2FtjPEvS7iTYRvrlBdc%2F4u41EsDfvkNnqAWRGhpgQLzruoKSgX214%2Bgw%3D%3D&crl=c
Rothaermel, F. T. (2016). Strategic management: concepts (Vol. 2). McGraw-Hill Education. https://www.amberton.edu/media/Syllabi/Spring%202020/Graduate/MGT6203_21.pdf