Running head: WAL-MART STRATEGIC PLANNING ON THE NEW DIVISION
WAL-MART STRATEGIC PLANNING ON THE NEW DIVISION
Wal-Mart Strategic Planning on the New Division
Strategic planning is critically important particularly in diversified organizations such as Wal-Mart stores (Hill, Jones and Schilling 2017). Wal-Mart is one of the largest department store retailers in the United States of America with 8500 stores across 15 countries (Del Giudice, Carayannis and Peruta 2011). This research paper provides a comprehensive analysis of Wal-Mart stores and generally the retail industry to develop a conceptualized new division that aims to provide fast food services to consumers. In today's world, more companies are opening up to compete with the fast food services whereas others are opening up new divisions to provide more innovative products (Del Giudice, Carayannis and Peruta 2011). Therefore, companies are left with the option to search for conceptualized and imaginative approaches that will enhance operational efficiency while at the same time reducing cost. The main focus for companies is to open up a new division that will meet consumers' needs and preferences thereby building a strong competitive advantage against competitors in the industry. Furthermore, this paper provides an effective action plan for growth and development of the new division and a clear path to achieving vision, mission and the overall objectives of the organization. Also, the paper provides insight into system choice on the principles of mission, vision and management standards and different qualities of social responsibility, culture, and ethics.
Proposed New Product or Service
In the current structure of the retail market, the cost of doing business is increasing as a result of stringent regulatory standards such as an increase in the minimum wage (Del Giudice, Carayannis and Peruta 2011). Wal-Mart is in search for an advanced division that will improve operational efficiency and value of the company. The management of Wall-Mart has desired for an extension of an eatery dealing with fast food(Del Giudice, Carayannis and Peruta 2011). The food eatery will offer different types of foods that will largely contribute to the revenue streams of the organization. The division will focus on foods such as burgers, sandwiches, pizzas and mixed greens with the help of robots to act as cashiers and attendants thus reducing the cost of running the business in the long run. This innovation has been tested across different fast food restaurants and has produced tremendous results. The new action plan is in line with the mission statement of Wal-Mart stores which is, "sparing individuals cash so they can live better (Del Giudice, Carayannis and Peruta 2011)."
Addressing Consumer Needs to Achieve Competitive Advantage
The overarching goal for Wal-Mart stores is to provide great value to their customers (Del Giudice, Carayannis and Peruta 2011). The new division will...