Research Proposal
Jeannie Tillery
STR/581
October 14, 2013
Professor Wallace
Research Proposal
The purpose of this paper is to outline the research approach that will be used for Wal-Mart’s Strategic Plan. This plan will ensure that the organization’s vision, mission, people strategies, and values are in alignment. The following paragraphs will identify and discuss the sources that will be used to perform external and internal environmental analyses.
Vision, Mission, and Values
Wal-Mart’s business plan on Mission and vision statements 2">vision statement is “to give ordinary folk the chance to buy the same things as rich people” (“Examples of Vision Statements”, n.d.).
Wal-Mart’s mission statement is “to help people save money so they can live better” (“Is the Walmart Mission Statement a Good One!”, n.d.).
According to New Charter University 2013,
“Mission and vision both relate to an organization’s purpose and aspirations, and are typically communicated in some form of brief written statements. A mission statement communicates the organization’s reason for being and how it aspires to serve its key stakeholders. The vision statement is a narrower, future-oriented declaration of the organization’s purpose and aspirations. Together, mission and vision guide strategy development, help communicate the organization’s purpose to stakeholders, and inform the goals and objectives set to determine whether the strategy is on track.”
The Essay on Mission vision
... the mission, vision and value statements of McDonald’s, Bank of America, Rangs Group, BRAC University and IBA, University of Dhaka. Mission statement A mission statement defines the organization’s purpose ... higher education and research. It aims at attracting brilliant students, teachers, scholars, and from all over the world. Mission statement The mission of NSU ...
Wal-Mart has values that help guide their decisions and leadership. These values are “the 3 Basic Beliefs: Respect for the Individual, Service to our Customers, Striving for Excellence” (Walmart, n.d.).
These values represent Wal-Mart’s beliefs in which they are emotionally invested.
External and Internal Environmental Analysis
“A SWOT analysis is a comprehensive look at a company’s strengths and weaknesses, or internal factors, as well as external factors it faces in the market” (Suttle, n.d.).
When a SWOT analysis is used in a business plan it helps the organization clarify its short and long term goals. “The SWOT analysis, often found in marketing plans, becomes a useful tool for planning and competitive analysis” (Berman, n.d.).
“A company usually starts a SWOT analysis by studying its strengths, such as a strong brand name or good reputation, and weaknesses, like inexperienced management or poor distribution” (Suttle, n.d.).
The other internal factors that are studied and analyzed include specificity, objectivity, and leverage.
“Subsequently, an external environment SWOT analysis enables a company to ultimately determine how it can exploit its strengths and minimize weaknesses to compete” (Suttle, n.d.).
The external factors that are studied and analyzed include significance, opportunities, threats, prevention/solution, and considerations.
Here is an example of a brief SWOT analysis for Wal-Mart:
Strengths
* Huge selection of products at competitive prices
* Supplier discounts
* Have their own branded products
* Buying power
Weaknesses
* Organization control in regards to managing large number of employees
* Customers question quality of goods because of low prices
* Suppliers are concerned about price as well as ability to supply as needed
Opportunities
The Essay on Internal And External Factors Of Wal-Mart
Wal-Mart is a company that has always presented the image to go the extra mile to meet customer satisfaction. They have been able to grow in times when most companies were facing hardship. The implementation of walmart.com in January 2000 was a major step for the Wal-Mart organization. Their globalization, e-business, and ethics have been essential in the success of this and any company. Many ...
* Expansion into other countries
* Partnerships with other countries
* Home delivery of products
Threats
* Competition from similar organizations
In conclusion, the strategic plan for Wal-Mart will ensure that the organization’s vision, mission, people strategies, and values are in alignment. A SWOT analysis will be used to determine the internal and external factors that need to be focused on to determine how to “exploit its strengths and minimize weaknesses to compete” (Suttle, n.d.).
References
A SWOT Analysis of Wal mart – the World’s largest Company. Rapid Business Intelligence
Success. Retrieved from
analysis-of-wal-mart.html
Berman, C. (n.d.). Internal Factors of SWOT Analysis in Marketing.
Retrieved from http://smallbusiness.chron.com/internal-factors-swot-analyis-marketing-
69172.html
Examples of Vision Statements. (n.d.).
Rapid Business Intelligence Success. Retrieved from
http://www.rapid-business-intelligence-success.com/examples-of-vision-statements.html
Is the Walmart Mission Statement a Good One! (n.d.).
Rapid Business Intelligence Success.
Retrieved from
-statement.html
New Charter University. (2013).
Principles of Management. Retrieved from new Charter
University, BA351 website.
Suttle, R. (n.d.). External Environmental SWOT Analysis. Small Business.
Retrieved from http://smallbusiness.chron.com/external-environment-swot-analysis-
1421.html
Walmart. (n.d).
Walmart Statement of Ethics. Retrieved from
