Wal-Mart Strategic Planning

Wal-Mart Strategic Planning

Introduction

Wal-Mart Stores, Inc., functions as the chain of discount departmental, largest grocery retailer store and warehouse. The company plan was initiated by Sam Walton in 1962. In 1972, it was incorporated in the New York Stock Exchange list and was branded as Wal-mart in 2008. According to the Forbes Global 2000 list, Wal-Mart Stores, Inc. is considered as 18th largest public corporation and one of the largest public corporations as per the revenue generation, of United States of America. It is also considered as one of the largest employer around the world with almost 2million people working under the banner of Wal-Mart. Wal-Mart Stores, Inc., run around 8500 stores (approximately) in 15 different countries around the world, with different retail names (Blumenthal, 2011).

Objectives

Wal-Mart needs to ensure that their products with give the consumers 100% quality satisfaction; therefore, they need to ensure they have plans in place to achieve superior customer satisfaction. Some of Wal-Mart s plans include building a team of associates who create the designs for the new strategies as well as a team of associates who will ensure that the aspects are safe and that they will be able to withstand dangerous circumstances. Wal-Mart will also have people who inspect the quality and ensure that everything works correctly (Brunn, 2006). Wal-Mart also has the manufacturer warranty that will cover problems within a certain time frame to ensure that the customer will continue to enjoy the purchase even if there becomes a problem down the road.

As a large company that depends on customer satisfaction, Wal-Mart needs to ensure they are selling and offering the best products and services. The objectives of the company are very simple; Wal-Mart wants to create products that will ensure and create happiness within their consumers and a product that he or she can have confidence in.

Functional Tactics

Wal-mart does not have a mission statement, but they constantly say that their mission is to “help people save money so they can live a better life.” They value their customers on the fact that they buy the products and they know what to do to keep them coming in. However, when was the last time you were at wal-mart and felt like a valued customer? How many times have you been to Wal-Mart and found someone smiling and giving you the knowledgeable product information you see on TV? The truth is that they know how to keep us coming in the doors with the lowest-prices, but the lack of customer service is below par.

Wal-Mart knows that they need to keep their shareholders happy. Every year they are breaking new grounds in every department, but year after year how are they doing it? By cutting cost wherever they can and opening new doors they are able to reach new heights for their stockholders. Wal-mart is also the largest employer with 1.2 million jobs (Dicker, 2005). This might sound like a great thing for all the neighborhoods that they operate ...