Question

Describe a plan that might apply to Walmart Managememnt. What customer information might deliver more information for the company other than location? Be sure to include potential benefits and drawbacks that may affect company value.

Answer 1

“Always low Prices” slogan of Walmart in last 19 years had brought much of like us customers to the Walmart stores. Although they have changed the tag line recently as “Save Money Live Better” as per the change in the demand of doing the business more practical.

In the changing demand of retail stores across the world the business plan also needs the revamping process. The plan that might apply to the Walmart management would be more interconnected along with hierarchical.

The plan should be having specific units and then they are integrated. Such specific units are Strategic Management unit, Tactic Management Unit and Operational Planning Units.

The goal of the organization should be fulfilled by the company by the blue print of the company. As per the new organization goal of the company the strategic (company) level of goals and plans which shapes the tactical (divisional) level and the operational (departmental) level should be managed. Hence, the higher level of the management such as executive vice president and chief operating officer (top managers) responsible for establishing strategic goals and plans that reflect a commitment to both organizational efficiency and effectiveness by seeking to boost store efficiency by connecting in-store merchandising with “win, play, show” which guide merchandising assortment decisions. The cut in the merchandise allows Walmart be more selective about which product to carry and more committed to sell in high volume.

The tactical goals can be managed and planned by the middle managers, such as the head of major divisions or functional units. The company would do Walmart do super promotion aisle to shuffled departments for customer to have easier shopping and maximizing demands for Walmart.

The Operational plans and management done by the lower levels of the organization, such as individual departments and employees. So, the Front-line managers and supervisors develop operational plans that focus on specific tasks and processes and that help meet tactical and strategic goals by focusing on customer satisfaction. All the units at the end would be integrated with each other so for the gaining the advantage of the planning.

Walmart improve customer shopping experience by providing access and visibility to departments in the store that previously difficult to shop.

The customer information might deliver more information for the company other than location are as follows:

1. Media used by customer
2. Personal contacts
3. Surveys forms filled by the customers
4. Reviews and Feedbacks
5. Interviews
6. Time spent in the stores by the customers.

Social media actually helps in the advertising the product but it is also affecting the growth and value at the same rate too. Hence it is one side creates value and other side deteriorates the image if some unusual condition happens.

Personal contacts provide their information and this information would be helpful in order to analyses the pattern or trend of the customers buying decision. Hence it is helpful in the creation of company value.

The potential benefits that effects the company’s value is:

1. Positive reviews and feedbacks.
2. More time spend by the customer in retails stores of the company.

The drawbacks such as:

1. The viral of incorrect information in social media regarding business.
2. Negative feedbacks or reviews by the customers.
3. Decline in the share price.
4. Any kind of misconduct done by the employees of the company.