External & Internal Environments Overview Walmart Business Capstone
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
n this assignment, you are to use the same corporation you selected and focused on for the Strategic Management and Strategic Competitiveness assignment.
Using the corporation you chose from the Week 3 assignment, Strategic Management and Strategic Competitiveness, examine the industry in which the entity operates. Use any or all of the following resources to conduct research on the company:
- Company website.
- Public filings from the Securities and Exchange Commission’s Filings & Forms page.
- Strayer University’s online databases.
- The Lexis Advance database.
- Other miscellaneous sources. Note: the company’s annual report will often provide insights that other resources may not include.
Use the External and Internal Environments Template [DOC] to ensure that your assignment meets the requirements.
REQUIREMENTS
Write a 4–6 page paper in which you do the following:
- Choose the two segments of the general environment that would rank highest in their influence on the corporation you chose.
- Assess how these segments affect the corporation you chose and the industry in which it operates.
- Considering the five forces of competition, choose the two that you estimate are the most significant for the corporation you chose.
- Evaluate how well the company has addressed these two forces in the recent past.
- With the same two forces in mind, predict what the company might do to improve its ability to address these forces in the near future.
- Assess the external threats affecting this corporation and the opportunities available to the corporation.
- Give your opinions on how the corporation should deal with the most serious threat and the greatest opportunity. Justify your answer.
- Give your opinion on the corporation’s greatest strengths and most significant weaknesses.
- Choose the strategy or tactic the corporation should select to take maximum advantage of its strengths, and the strategy or tactic the corporation should select to fix its most significant weakness. Justify your choices.
- Determine the company’s resources, capabilities, and core competencies.
- Go to the Strayer University Online Library to locate three quality references. Note: Wikipedia and similar websites do not qualify as academic resources.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
The specific course learning outcome associated with this assignment is as follows:
- Analyze the effects of the general environment, competition, threats, opportunities, strengths, and weaknesses relative to a corporation.
- By submitting this paper, you agree: (1) that you are submitting your paper to be used and stored as part of the SafeAssign™ services in accordance with the Blackboard Privacy Policy; (2) that your institution may use your paper in accordance with your institution’s policies; and (3) that your use of SafeAssign will be without recourse against Blackboard Inc. and its affiliates.
I have attached the paper from assignment one that must be used when completing this assignment. Please let me know if you have any questions.
Week 3 Strategic Management and Strategic Competitiveness Assignment
Lashuna Boatman
Strayer University
BUS 499 Business Administration Capstone
Professor Brian Grizzell
10/26/2020
Week 3 Strategic Management and Strategic Competitiveness Assignment
The task in context involves strategic management and strategic competitive analysis carried out on a public company. The chosen public corporation is Walmart Inc. one of the largest corporations within the retail industry. With that regard, an analysis is to be carried out to determine how globalization alongside the change in technology has impacted Walmart Inc. in the past years. Additionally, the industrial organization model and the resource-based model gets deployed to help figure out how Walmart Inc. would deploy such approaches and realize revenue margins above its current average revenue. Another examination will be ascertaining how the corporation’s mission statement and vision statement have contributed to the overall success experienced at Walmart. Then the last section takes a look at how different groups of stakeholders linked to Walmart have also influenced the company’s success witnessed today.
Globalization
The ability of many corporations to be able to operate in geographical regions away from their motherland can be attributed to the concept of globalization. Globalization is defined as the existence of a scenario where countries and their respective corporations progressively become inter-reliant on one another (Hitt et al., 1). The interdependence becomes evident through a number of factors as presented by the impact globalization has had on Walmart Inc. The movement of assets required to facilitate the provision of goods and services is evidence of how globalization has impacted Walmart. In the process of expanding its territory and global market share Walmart has been able to open up a number of retail shops in other continents like Asia and even some parts of Africa. It is because of globalization, that the retail company is able to invest resources harnessed in the United States to another country in a different country. Besides intercontinental flow of capital knowledge and skills are also able to be transferred across borders, and competition at a global level. That is the reason why Walmart is able to move out of the USA and set up a store in India for instance and compete with Indian retail companies without sparking any legal concerns. As a result, Walmart has enjoyed an increased revenue base from its stores situated in different parts of the world.
Technology
Walmart has enjoyed for some time the title as one of the largest retail companies in America. However, just like any other corporation, they have been at risk of being threatened by technological developments. The category of the technological invention that has impacted Walmart’s operation is the disruptive technological inventions. Disruptive technological inventions are characterized by their tendency of rendering irrelevant prevailing technology by coming up with new approaches that result in newer opportunities (Hitt et al., 1). Disruptive technology has impacted Walmart in a number of ways, and in order for the retail company to maintain their position, they have had to adopt technologies that disrupt existing markets and keep them ahead of the curve. For instance, as a way of keeping up with the growing online shopping method, Walmart had to create more value with their operations by developing a technology called Alphabot. The development has hastened the online shopping procedures by improving procedures for picking products, packing, and faster deliveries to customers shopping at Walmart (Thomas, 2). This approach as result creates a new market for Walmart while devaluing the existing online shopping approaches used by other retail companies.
Industrial Organization Model
Just like any other company, Walmart Inc.’s objective among other targets is to increase revenue. In order to determine how much extra revenue above its normal average revue can be attained, it requires the adoption of an industrial organization model. The specific model appropriate to enable this simulation is the industrial organization model focusing on returns that are above average. Based on this model it is assumed that companies’ profitability tends to be more influenced more by factors from outside the company more than internal factors like management decisions (Hitt et al., 1). Therefore, Walmart can attain above-average returns by making decisions intended to capitalize on external factors. Some of the external factors make up the opportunities they can exploit and increase revenue. Walmart can increase its revenue to heights above its current average revenue by developing strategic plans based on some of the external influences. For instance, the company receives monthly payments of over $100 million paid by its customers using banking billing methods like credit cards and debit cards among other methods (Marcilla, 3). In the process, charges are incurred while processing payments. If the corporation adopts a banking method of its own, it would be making extra revenue off the processing charges.
Resource-Based Model
Unlike the industrial organization model, the resource-based model deploys organization’s internal capability as a way of increasing a firm’s profits. The best-recommended approach is coming up with a strategic plan built on an integration of the organization’s strengths. The strengths include all human capital and physical capital. With the resource-based model, Walmart Inc. can improve its profits through the development of a strategic plan that uses its large revenue base of over $400billions by integrating it with an approach where it sells a wider range of products (Marcilla, 3). The best approach is then evaluated and all the organization’s capital, human capital, and physical capital is deployed. As result, the increased sales will definitely result in higher revenue.
Vision
A corporation’s vision is stated in its vision statement. Whereby, the vision statement is a declaration of what the company wants to be in the future. A company’s vision guides the company’s actions and as a result, impacts the overall success level of the corporation. In the case of Walmart, their vision statement talks about being dedicated to the service that regardless of how their customers shop, they must still save money at the end (Walmart, 4). Taking an assessment of the company’s overall success, it is evident the vision statement is their guide. They are able to command a larger customer base due to the approach of selling their products at a relatively cheaper price.
Mission
A corporation’s mission acts as the specifier as it explains exactly which sector the corporation intends to offer its product or service. All that is given in a mission statement which is normally built on a vision statement. For instance, through Walmart’s mission statement, it becomes clear that they are inclined towards selling products at the retail level and the cheaper prices (Walmart, 4). Based on the company’s mission statement their mission is ensuring that people live better through saving their money. How that has impacted the company’s success is profound since the company has established itself as a giant retail company that sells its prices at a cheaper price. The company thrives on the pricing strategy, which is its secret to success, an approach that gives them an edge.
Stakeholders
Stakeholders can be attributed as the individuals and entities that contribute to the bringing up of a corporation and also keep it up and running. Stakeholders are individuals and entities within an organization that can be affected by the organization’s decision and their decisions can also affect the organization’s well-being. They are grouped into product-market shareholders, capital market shareholders, and organizational stakeholders. Under the product market, they include; main customers and suppliers of raw materials or commodities. Capital market stakeholders are the bankrollers of the business, they include; banks and company shareholders. In addition, organizational stakeholders are made up of employees and managers within the organization (Hitt et al., 1). In the case of Walmart, capital stakeholders are those initial investors in the company and those who own shares of the company on the stock exchange. Organizational stakeholders are its managers and employees. Customers and their suppliers make up the product market stakeholders’ category. With regard to the company’s success, stakeholders play a key role, especially the suppliers. Walmart relies on the supply of products from local suppliers for them to be able to adapt their pricing strategy. Their employees also accept minimum wage based on a part-time basis which allows the corporation to sell its product prices at relatively lower prices.
Sources
- Hitt, Ireland, & Hoskisson. 2020. Strategic management: Concepts and Cases: Competitiveness and globalization (13th ed.). Mason, OH: South-Western Cengage Learning
- Thomas, Lauren. 2020. Walmart Just Unveiled a New Technology that Could Help Defend its Position as America’s Largest Grocer, CNBC. Retrieved https://www.cnbc.com/2020/01/08/walmart-unveils-a-new-technology-for-its-grocery-business-alphabot.html
- Thomas, Lauren. 2020. Walmart Just Unveiled a New Technology that Could Help Defend its Position as America’s Largest Grocer, CNBC. Retrieved https://www.cnbc.com/2020/01/08/walmart-unveils-a-new-technology-for-its-grocery-business-alphabot.html
- Walmart, 2020. Walmart’s.com History and Mission. Retrieved: https://www.walmart.com/help/article/walmart-com-s-history-and-mission/a62ce500758c4746a211d00d7c2acfcd
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. 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Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. 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