Strategic Management - Essay Example

Download file to see previous pages Apart from being the most successful retail stores globally, it has been a model among many top-level companies. Walmart has consolidated a significant part of the market share, and has a wide business that offers a significant extent of business to suppliers and manufacturers giving the company an edge over suppliers (Vance & Roy 1994). The retail store has overcome turbulent periods beating the competitive chain-store market since its inception by sticking to its mission, vision, objectives and goals (See Appendix: Figure 6). Nevertheless, its competitiveness is has been threatened by the emerging e-commerce resellers such as Amazon (Wohlsen 2013) On the other hand, Age UK operates in a conspicuously competitive market namely financial, retail markets and conventional fundraising. The current uncertain economic climate in the UK has affected the company’s financial position due to decreased funding from the government (See Appendix: Figure 6). This has prompted it to focus more on the high donations that is attributable to the increasingly high pressure on the aging population and the local partners (Bowman & Faulkner 1997). The paper concludes that even as Wal-Mart and Age UK are both enterprises with almost similar strategies, they are confronted by different challenges that have prompted them to diversify their strategies to maintain their market share, extend geographical frontier through acquisitions and organic growths (Age UK 2011). Faced by the imminent threat from online retail stores, Wal-Mart, which is unceasingly in pursuit of horizontal, vertical and geographical expansion by pushing for technology applications as an integral part of its strategy. The company has trampled on its competitors through its supremacy in inventory management and supply-chain logistics. Age UK on the other hand hopes to expand geographically through venturing further to cover disasters. Additionally, even as Age UK has launched a new radio station and increased financial services offerings to its customers, Wal-Mart anticipates its online strategy to contribute further to the bottom line (Wohlsen 2013). This paper recommends that if Wal-Mart has to keep up with the viciously competitive reselling industry, it must pay its workers well to avert the prevalent strikes to restore its public image, it should also leverage on its financial background to increase global presence. It should also branch out to new sectors including pharmacies, warehousing, automotive repair and grocery sale. Additionally, it should take an innovative approach in reselling and venture further into online retailing. Conversely, Age UK should invest in expanding its direct and financial services to support retain fundraising. It should also improve its information dissemination from its partners into their CRM system (Age UK 2011). Walmart’s Strategic Positioning Strategic positioning includes showing an organisation’s current positions in the marketplace. This helps understand the approaches both organisations have adopted (Hitt et al 2007). Walmart is the world’s largest retailer, one of the biggest corporations as well as the largest employer. The company has unique business models that are accustomed to the ...Download file to see next pagesRead More