Walmart's Strategic Information Management - Business Plan Example

Question 1

Walmart is a company whose foundation dates back to 1962 in the Rogers rural city of Arkansas. It has remained the world’s largest retailer regarding its revenue and the number of employees. By 2015, Wal-Mart had a total of more than 2.2 million employees all over the world. The company acquires revenues worth billions. The operation and success of Wal-Mart are attributed to its mission and vision statements. The company takes pride in its vision and mission statements that has informed its decisions and business operations.

The Wal-Mart’s Vision and Mission statement.

Vision statement

The success of Wal-Mart is informed by its founder, Sam Walton’s ideas. His ideals have always been emphasized in the vision statement stating that the company strives to be the best retailer in all their customers and employees’ minds and hearts. Wal-Mart also aims at achieving the retail industry’s top position The Company has currently performed and fulfilled its vision of being the best retailer.Walmarts vision statement further points to all the people’s minds and hearts. They highly value their customers and employees. They have managed to influence clients and staff minds and hence realizing an increased financial performance and benefits. The low prices at Wal-Mart enable consumers to save money while employees earn their wages through working.

Mission statement

Walmart’s decisions are directed to its mission. Their mission statement is to save the people’s money to enable them to live better. Their statement can always be seen in the firm’s slogan which says, save money. Live better. It has strictly adhered to their mission statement and succeeded in enabling people save since consumers have been able to save money from their low prices. Despite that, however, many discussions have arisen regarding the living better part of the mission statement. Many have criticized the company and accused them of paying lower wages to their employees, thereby hindering them from living better lives.

Question 2

The Wal-Mart Company plays a significant role in enhancing customer shopping experiences. It has also developed the latest technologies aimed at connecting their stores with the largest data of warehouses. Their technology is further aimed at redefining the e-commerce generation and enhancing retail experience. It has built faster and better and efficient programs in support of their operations. Wal-Mart uses technology in making store tracking and shelves restocking much easier thereby cutting costs. It has created reliable routes through technology. Forecasting of demands is also made easier through technology (Robbins & Coulter, 2005).

The company’s complex technology aids in the management of logistics and customers focus. The company uses identification tags that are guided by radio frequencies. Radio frequencies have numerical codes which are scanned and used in tracking goods along a supply chain. Smart tags are yet another technology embraced by Walmart. Scanners read these smart tags and enable employees to know to replace items from shelves. Walmart has invested in the development of an app known as savings catcher. The app has allowed easier access to their digital resources and promotions to their in-store customers. The firm values customers trusts, and it endeavors to maintain the confidently and security of all the customers. They have modern technologies used in identifying fraudsters hence can protect their brands. It has also embraced modern technology in dealing with shoplifters and security threats to the firm. For example, the company uses a facial recognition technology. The company is transforming how people shop in their outlets worldwide (Robbins & Coulter, 2005).

Question 3

Information and technology is a vital thing in any process based on communication. The ability of an organization to communicate relies on its information technology. When relating to customers, it is important to remain trustworthy, reliable and timely. Information technology is useful in information processing. In the global business world, many firms have adopted the use of mobiles such as smartphones, Blackberries, and Tablets technologies so as to improve the experience of customers as well employee’s job satisfaction at an internal level. Using mobile and wireless technologies can be of benefit to Walmart and other companies alike. The social media platforms cannot be left behind in gaining better customers attraction and loyalty. The social media enables an engagement with a company and customers. Information and technology personnel should also be supported with good business plans. The wireless technology facilitates faster communication processes in the company, about customer satisfaction (Galliers & Leidner, 2003).

Information technology should also be employed in collecting customer feedback to gain customer attraction, satisfaction, and loyalty. Feedbacks will enable the company to make changes and improvements aimed at ensuring customer satisfaction hence information technology assists in decision making. Customer satisfaction can be measured. Feedback collection creates an insight allowing better customer experiences. It is noteworthy that retaining and winning customers is not an easy task. Therefore, business ventures must always strive to win customers confidence and trust. Walmart and other business ventures can use information technology to invest in improving customer experience and make them keep coming back, make referrals and eventually beat their competitors (Galliers & Leidner, 2003).

A company can launch online surveys. Questionnaires can be sent to customers through emails. Through that, the clients can be asked about the particular things they would need and eventual create consistent and personal experiences. Using online questionnaires would aid in information collection from large samples and diverse regions while upholding customers’ confidentiality. Online surveys are less costly, and automatic response is eased hence faster analysis. A firm must be concerned with its financial performance. Therefore, there is a need to improve in its information technology roles and personnel. Financial performance can only be achieved through customer focus. Customer focus will attract more customers and an increase in revenue.

Question 4

A business venture that seeks to succeed has to check on its external and internal factors affecting its operations. For this reason, a SWOT analysis, and an examination is essential for the Walmart’s business venture.

The company’s strengths.

Walmart is a robust retail brand representing quality and value. It offers its customers value for their money through a provision of varieties of products. With the help of the firm’s associates, a one stop policy has been established that has been copied by other companies around the world. Such a strength has enhanced Walmart’s ability to maintain the loyalty of the customers and attract them as well. Walmart has globally expanded. It has been able to purchase a retail in the United Kingdom. Wal-Mart has been able to employ an elaborate information and technology system in its global and local operations. Information technology has enabled it to monitor its other countrywide stores. Procurement services at Walmart are also supported by information technology. Modern technologies are used by Walmart to manage and handle both international and local logistic operations. Through information technology, Walmart has managed to beat competitors and efficiently serve its markets.

Weaknesses

Weaknesses are bound to exist in any business venture. Since Walmart is a large retail managing numerous product lines and serving a large consumer population. The result of this is a large control span. Despite having better information and technology services, Walmart has often found it difficult monitoring all its operations. This is a weakness that most business ventures have faced. A company is then forced to depend on the store managers and employees goodwill in the smooth’s business operations. Product diversification is another weakness of most business ventures. Walmart has product diversification across various sectors such as food, clothing and furniture thereby limiting its flexibility. Supply chain management is made complicated by such diversification. Constant hitches in logistics are likely to be experienced in such a case

Opportunities

A business venture with vast resources will have various opportunities. Walmart has numerous resources making it in a position to merge with; takeover or even form alliances with the other retailers in the global market. Resources also enhance a business opportunity to expand and acquire a high economic power-commerce is important to any business as a firm will get a chance to attend to more customers and make shopping convenient. Customers far from Walmart reach can access their services through E-commerce.

Threats

Performing business is usually targeted for global and local competitions hence putting pressure on company’s ability to maintain its consumers and develop useful strategies for business. A business ability to enter a global market makes it gullible to political troubles of their operations. Walmart has faced challenges in trying to adapt to standards and foreign rules in their global market transactions. Competitors in foreign countries may have an influence on their governments and inhibit their penetration. Malpractice may also arise in the competition. With increased globalization, manufacturing costs have gone down fuelling competition. A business venture in most instances faces disturbances from environment’s lobby associations and labor unions. Walmart has been accused of failing to protect the environment, and many have urged people to boycott Walmart’s products. A business venture must always try to be active in corporate social responsibilities to attract customers and partnerships.

Question 5

Setting goals in an organization is significant as it gives room for long lasting visions and motivations. The goals for the information technology strategic plan include; integration and access. Information and technology will ensure planning and delivering related information services to allow customers access any needed information, at the time, where and when needed. The second is providing service delivery. Information and technology will exceed or meet all requirements of technological service deliveries. Goal three will be to leverage the emerging, innovative and existing technologies with an aim of streamlining and improving business processes. The fourth goal will be security and privacy. Information technology will always ensure integrity, privacy, appropriateness and reliability of sources of information. Finally, information technology will embrace modernity. It will ensure all aspects of it are in agreement with the modern technologies existing in the modern world (Jeyarathnam, 2008).

Question 6

The implementation of the strategic plan comes with various positive impacts to an organization. It ensures that a firm is always in check and never caught unaware by any existing issue. Good planning will make it easier for management of matters arising in an organization. The strategic plan also ensures stability in an organization. With the dynamic business world, it is possible for an organization to face instabilities. Therefore, the strategic plan comes in place to ensure that a company can run despite the challenges it may face. Strategic planning enhances an organization’s financial performance. Customers despise disappointments; a good strategic plan will ensure that when a company promises a customer about something, delivery is assured. A company must be concerned with financial performance, and this can be gained through customer focus. The plan will enable focus on many customers and referrals that in return will increase an organization’s profits or revenues (Jeyarathnam, 2008).

Reference

Galliers, R. & Leidner, D. (2003). Strategic information management. Oxford: Butterworth-Heinemann.

Robbins, S. & Coulter, M. (2005). Management. Upper Saddle River, NJ: Pearson Prentice Hall.

Jeyarathnam, M. (2008). Strategic management. Mumbai: Himalaya Pub. House