Discussion: Strategic Planning for Walmart
In order to be successful in today’s rapidly changing business landscape, company leaders must consider how best to position their organizations in order to gain and maintain a competitive advantage. Strategic planning is a critical component of achieving that competitive advantage. For retail giants like Walmart, in particular, strategic planning provides crucial insight into the current and potential success of their diverse operations.
To prepare for this Discussion, review “Case 01: Walmart Stores” on pages C-1 to C-11 in Dyer, Godfrey, Jensen, and Bryce (2020) and consider the fundamental principles of strategic planning. Be sure to consider strategies for leveraging competitive advantage within a crowded industry.
Write an analysis of the role of strategic planning in establishing competitive advantage. Your analysis should include the following:
An assessment of the phase of the strategic planning cycle that might be the most useful for Walmart’s competitive advantage
An explanation of competitive differentiation as it relates to Walmart and similar retailers like Target and Dollar Tree. Be sure to address how Walmart’s choice of market focus contributes to its competitive advantage.
An assessment of Walmart’s value proposition, including why customers choose Walmart and whether advertised low prices are accurate
Be sure to support your work with a minimum of two specific citations from this week’s Learning Resources and at least one additional scholarly source.
Refer to the Week 1 Discussion Rubric for specific grading elements and criteria. Your Instructor will use this rubric to assess your work.
Read a selection of your colleagues’ postings.
By Day 5
Respond to at least two of your colleagues’ postings in one or more of the following ways:
Compare your initial posting with that of your colleague, including insights on the role of the strategic planning cycle.
In what ways do you agree or disagree with your colleague on competitive differentiation, and how can this enhance/expand on your understanding of competitive advantage?
Provide a suggestion for an additional competitive advantage strategy to better support your colleague’s posting, including a rationale for your suggestion.
Learning Resources
Required Readings
Dyer, J., Godfrey, P., Jensen, R., & Bryce, D. (2020). Strategic management: Concepts and cases (3rd ed.). John Wiley & Sons.
Chapter 1: “What Is Business Strategy?” (pp. 1-16)
Chapter 2: “Analysis of the External Environment: Opportunities and Threats” (pp. 17-43)
Case 01: “Walmart Stores: Gaining and Sustaining Competitive Advantage” (pp. C-1-C-11)
Bereznoi, A. (2014). Business model innovation in corporate competitive strategy. Problems of Economic Transition, 57(8), 14–33. doi:10.1080/10611991.2014.1042313
Walden University. (n.d.). APA course paper template. https://academicguides.waldenu.edu/writingcenter/templates/general#s-lg-box-20293631
Required Media
Olsen, E. [virtualstrategist]. (March 3, 2021). Overview of the strategic planning process [Video file]. Retrieved from https://onstrategyhq.com/resources/video-overview-of-the-strategic-planning-process/
Note: The approximate length of this media piece is 5 minutes.
Sull, D. (2012, August 14). Simplify your strategy [Video file]. Retrieved from https://hbr.org/2012/08/simplify-your-strategy.html
Note: The approximate length of this media piece is 3 minutes.
Optional Resources
Olsen, E. [virtualstrategist]. (2012, April 9). What is strategic planning, really? [Video file]. Retrieved from https://youtu.be/mLJ34L5UW4E
Note: The approximate length of this media piece is 4 minutes.