Wal-Mart for a stratgic mangement and business policy essay

Wal-Mart for a stratgic mangement and business policy - Essay Example It has driven lesser retailers out of commerce; forced companies to be well-organized, commonly leading these suppliers to move industrial jobs overseas; and changed the routine that yet large and reputable productions do. Wal-Mart has existence over all the customer supplies industries that endure in the US, for the reason that it is the number-one supplier-retailer of the majority of our customer goods, not still toys, clothes, shoes but home applications, electronic goods, sporting products, food, bicycles, groceries (Anderson, 2003). Business strategy: By viewing the universal compaction and such a huge working structure of the Wal-Mart, I will suggest that they need to adopt low cost leadership theme for Wal-Mart. The reason behind this business strategy selection is that: in the present era we are facing a very hard competition from lot of competitors and the low prices Business strategy is the only solid and more attractive strategy in present environment (McCune, 1994). How this business strategy will facilitate and help the Wal-Mart in becoming a well established business? By this business strategy they can emphasize on selling high-quality. Wal-Mart low price philosophy will cut advertising expenses and reduce other expenses. It will create an image of reliability and fair play in the minds of clients. This Business strategy will become a defense against competition in the industry. Next I will present the program and main decision that they should take for the successful implementation of the strategy. They should develop a mechanism by which management controls the processes for directing, development, scheming, organizing, and controlling program operations. They should create a financial control that comprise comparison of what they have really accomplished with what they have premeditated in their budget and as such it is individual business task amongst a lot of, and encompasses but one facet of the wider practice of management