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Strategic Choice and Evaluation - Essay Example

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In order for it to achieve long term growth, it needs to choose an effective strategic direction. The grocery retailing store industry is highly competitive and is subject to…
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Strategic Choice and Evaluation
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Strategic Choice and Evaluation

A grand as well as the generic strategy will also be adopted to enhance growth. Such strategic plan components will guarantee that Wal-Mart remains a leader in the industry (Giudice, Carayannis & Peruta, 2011, pp. 104-105). This paper gives a limelight to the strategic alternatives and offer sound recommendation on the best strategies to implement based on the current climate in the retailing industry.
It is undoubtedly obvious that all the value disciplines, including product leadership, customer intimacy, and operational excellence are likely to benefit Wal-Mart in exceptional ways. However, one of the most effective disciplines that the firm can adopt is operational excellence since it will enhance the internal operations and do away with wastes within the internal processes. Using such a value discipline will also continue giving the firm a competitive edge and improve on its logistics as well as purchasing. To do this, it must continue focusing on offering low prices by negotiating with the suppliers to reduce their costs through economies of scale. As a result, this helps it to offer diverse products with competitive service, while at the same time maintaining affordable or reasonable prices. Placing an immense focus on operational excellence will also help in mitigating the prevailing risks in the business world of been undercut on prices by the rival firms such as Target (Lynch, 2013).
Coming up with an excellent supermarket chain that is capable of accommodating growth requires high degree of operational excellence. In that case, the firm must also be focused on adopting projects that boosts productivity and reduces costs. It should also continue investing in information technology to improve on the inventory system, communicate promptly with the suppliers, and deliver the necessary data on time. Continuous improvement on operational excellence will go a long way to improve the firm’s productivity, offer ... Read More
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