Business Analysis Part Iii Essay - 1297 Words

Business Analysis Part III Beverly Mahone MGT/521 December 3, 2012 Robert dAlessio Business Analysis Part III Strategy management is the key to success in any organization. However, without the proper strategy and implementation, it is difficult for any business to survive regardless of the industry or the size of the company. The largest retail company in the world is Walmart. The success of Walmart is because of its sound strategic management decisions and it ability to implement its strategic decision. A major factor in the continued growth is the rapid growth strategy. The future for Walmart looks bright. Increasing profits and recognizing social and ethical responsibilities will provide Walmart with a comfortable†¦show more content†¦The effects of the economic trends are also felt by Walmart. In an effort to cut cost, Wal-Mart had to eliminate health insurance coverage for part-time employees and increasing premiums for others (Wright, 2011). This strategy allowed Walmart to cut costs without eliminating positions or increasing prices. Before the economic downturn Wal-Mart implemented strategies to increase profits. In 2005, Walmart implemented a plan to target wealthier consumers with a more modern marketing campaign (Kabel, 2006). Walmart began stocking more high-end merchandise to cater to this group of consumers (Kabel, 2006). The ability to stay in business relies on a company’s ability to increase business during good economic times as well as bad. The two strategies Walmart used (targeting wealthier customer base and eliminating health coverage) proved that Walmart knows how to adapt to changing markets. Walmart has an awareness of the strategies to implement during economic upswings as well as downturns. Wal-Mart also focuses on meeting strategic goals to increase the bottom line for the company. One tactic Walmart started implementing involved opening stores in urban areas. However, the stores will be much smaller than the typical 150,000 square foot â€Å"big box† model (Massey, 2010). The â€Å"Smallmart† stores allow the company to enter areas where large open areas are slim (Massey, 2010). This strategy allows the company to access an unobtainable customer base, bring jobs toShow MoreRelatedHow to Write an Extended Business Studies Response Essay754 Words   |  4 Pageswill be assessed on how well you: * demonstrate knowledge and understanding relevant to the question * apply relevant business case study/studies and contemporary business issues * communicate using relevant business terminology and concepts * present a sustained, logical and cohesive response Remember an extended response is a structured essay not a business report with an executive summary and dot points throughout. Suggested word limit: 800 words. 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