Strategic Planning SWOT Analysis Assignment Completed

The Strategic Planning Swot Analysis Assignment Completed In Topic 3

The Strategic Planning: SWOT Analysis assignment completed in Topic 3 helped you identify a strategic goal within your sphere of influence. This assignment asks you to visually represent the cause-and-effect relationship among goals, operations, and stakeholders. In addition, this assignment seeks to examine the impact on various operational processes within the selected organization. According to your Management textbook, a strategy map "is a visual representation of the key drivers of an organization's success, showing the cause-and-effect relationship among goals and plans." Refer to Exhibit 7.4 in the textbook. A strategy map seeks to align organizational goals into strategy and provide clear direction for the organization.

Review the mission statement of your selected organization. Prior to creating a strategy map, identify your stakeholders. Complete a stakeholder analysis to identify and prioritize the various stakeholders. Refer to the "Stakeholder Analysis" resource from Mindtools and complete all steps. Based on your strategic goal, create a strategy map using Microsoft Word, Microsoft PowerPoint, Microsoft Visio, or other software.

Include only the required perspectives (financial, customer, internal, and learning and growth) that pertain to the strategic goal in your map. The cause-and-effect relationships are described by connecting arrows. APA format is not required, but solid academic writing is expected. This would be on the Walmart Corporation.

Paper For Above instruction

Introduction

Strategic planning is a fundamental aspect of organizational management that ensures a company's objectives align with its mission, resources, and stakeholder expectations. A critical component of strategic planning is the development of a strategy map, which visually illustrates the cause-and-effect relationships among various organizational goals across different perspectives. This paper details the creation of a strategy map for Walmart, focusing on a strategic goal identified through SWOT analysis, and includes stakeholder analysis to prioritize key stakeholders influencing and affected by the organization’s strategies.

Overview of Walmart and Its Mission Statement

Walmart Inc. is a global retail giant renowned for its extensive network of hypermarkets, discount department stores, and grocery stores. Its mission statement emphasizes providing customers with “low prices every day” through operational excellence, customer service, and a commitment to innovation (Walmart, 2022). This mission guides Walmart’s strategic initiatives, including expanding e-commerce capabilities, improving supply chain efficiencies, and enhancing customer experience.

Stakeholder Identification and Analysis

Identifying and prioritizing stakeholders is pivotal in aligning organizational strategies with stakeholder expectations. Using the stakeholder analysis framework from MindTools, key stakeholders for Walmart include:

  • Customers: The primary recipients of Walmart’s services and products.
  • Employees: Frontline staff, supply chain workers, and management personnel.
  • Suppliers: Manufacturers and distributors providing merchandise.
  • Shareholders: Investors seeking sustainable financial returns.
  • Community and Regulators: Local communities and government agencies overseeing business practices and compliance.

Prioritization considers the stakeholders’ influence on strategic outcomes and the potential impact of organizational initiatives on them. Customers and shareholders are top priorities due to their direct influence on sales and profitability, while employees and suppliers are crucial for operational efficiency, and community/regulators ensure compliance and reputation.

Strategic Goal and Its Selection

Based on the SWOT analysis, a strategic goal for Walmart is to enhance its e-commerce platform to improve customer satisfaction and competitiveness amid rising online shopping trends. This goal leverages Walmart’s strengths in supply chain logistics and addresses threats from competitors like Amazon by creating a seamless multichannel shopping experience.

Development of the Strategy Map

The strategy map aligns with the Balanced Scorecard approach and includes four perspectives relevant to Walmart's strategic goal:

  1. Financial Perspective: Increase revenue through expanded e-commerce sales and improved profit margins.
  2. Customer Perspective: Improve customer satisfaction and loyalty via a user-friendly online interface and reliable delivery services.
  3. Internal Process Perspective: Optimize supply chain logistics and inventory management to support online order fulfillment.
  4. Learning and Growth Perspective: Foster innovation through employee training and technology adoption to sustain e-commerce growth.

The cause-and-effect relationships are depicted through arrows connecting these perspectives. For example:

- Enhancing employee training (Learning and Growth) leads to better supply chain efficiency (Internal Process).

- Improved internal processes enable faster delivery and inventory management (Internal Process), which enhances customer satisfaction (Customer).

- Increased customer satisfaction drives higher sales and revenue (Financial).

Visual Representation of the Strategy Map

A visual strategy map is constructed using Microsoft PowerPoint, illustrating these relationships with labeled boxes for each perspective connected by arrows. The map starts with Learning and Growth at the base, impacting Internal Processes, which, in turn, influence Customer outcomes, culminating in improved Financial performance.

Conclusion

Creating a strategic map for Walmart serves as a clear guide for aligning organizational activities toward a common goal—expanding e-commerce capabilities. By understanding and illustrating the cause-and-effect relationships among perspectives, Walmart can better coordinate efforts, allocate resources, and measure progress. Stakeholder analysis ensures that strategic initiatives address the priorities of those most impacted, strengthening stakeholder relationships and organizational success. Strategic maps thus form a vital part of strategic planning, providing clarity and direction needed for continual growth and competitiveness.

References

  • Kaplan, R. S., & Norton, D. P. (2004). The Strategy Map: Guide to Aligning Intangible Assets. Harvard Business Review.
  • MindTools. (2023). Stakeholder Analysis. https://www.mindtools.com/pages/article/newPPM_07.htm
  • Walmart. (2022). About Walmart. https://corporate.walmart.com/our-story
  • Norton, D. P., & Kaplan, R. S. (2001). The Strategy-Focused Organization: How Balanced Scorecard Enterprises Thrive in the New Business Environment. Harvard Business School Publishing.
  • Hrebiniak, L. G. (2005). Making Strategy Work: Leading Effective Execution and Change. Pearson Education.
  • Kaplan, R. S., & Norton, D. P. (2006). Alignment: Using the Balanced Scorecard to Create Corporate Synergies. Harvard Business Review Press.
  • Johnson, G., Scholes, K., & Whittington, R. (2008). Exploring Corporate Strategy. Pearson Education.
  • Porter, M. E. (1985). Competitive Advantage: Creating and Sustaining Superior Performance. Free Press.
  • Daft, R. L. (2010). Organization Theory and Design. Cengage Learning.
  • Robinson, S. P., & Judge, T. A. (2019). Organizational Behavior. Pearson Education.

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