Fin 370 Week 1 Strategic Initiative Paper Fin/370
1
Strategic Initiative Paper
Walmart
FIN/370
2
Strategic Initiative Paper
Companies have to develop a plan both long term and short term. This is necessary for corporations so they are able to budget and know exactly what there goals are and how they plan to achieve them. They set target points and come up with methods to achieve the targets and goals. A company has to know who their competition is and how they plan to beat them and what methods they have to use in order to accomplish this. The company has to also know why it wants to get to a specific goal? What implications will follow? Such planning is called a strategic plan. A strategic plan is the brain of an organization and the voice that creates the company culture. Strategic planning is …show more content…
Their total capital expenditures for 2014 was $13,115 this not only included e-commerce but them also building new stores and expanding their business locally and globally.
Being a large company as Wal-Mart, it is extremely important that there are strategic plans in place to keep cost down. Some of the ways in which this can be achieved are as followed: Consider Resource Acquisition: In the event that Wal-Mart as a whole or particular sites made the decision not to expand any further to cut cost it would be wise for them to acquire other businesses. Starting their own distribution system can assist with cost because it will allow them to buy from manufacture directly.
New Policies: Cut cost by coming up with a plan to limit travel reimbursements such as transportation lodging and meals.
Shipping and Freight: Negotiate pricing with multiple carriers. In other words companies that Wal-Mart has done business with for many years, inquire about loyalty rates.
Ask for special seasonal discounts. Using the packaging that is provides by the carriers are sometimes a lot cheaper meaning more money for Wal-Mart to do other things. (In a
Business mind- have the customer absorb more of the
Strategic Initiative Paper
Walmart
FIN/370
2
Strategic Initiative Paper
Companies have to develop a plan both long term and short term. This is necessary for corporations so they are able to budget and know exactly what there goals are and how they plan to achieve them. They set target points and come up with methods to achieve the targets and goals. A company has to know who their competition is and how they plan to beat them and what methods they have to use in order to accomplish this. The company has to also know why it wants to get to a specific goal? What implications will follow? Such planning is called a strategic plan. A strategic plan is the brain of an organization and the voice that creates the company culture. Strategic planning is …show more content…
Their total capital expenditures for 2014 was $13,115 this not only included e-commerce but them also building new stores and expanding their business locally and globally.
Being a large company as Wal-Mart, it is extremely important that there are strategic plans in place to keep cost down. Some of the ways in which this can be achieved are as followed: Consider Resource Acquisition: In the event that Wal-Mart as a whole or particular sites made the decision not to expand any further to cut cost it would be wise for them to acquire other businesses. Starting their own distribution system can assist with cost because it will allow them to buy from manufacture directly.
New Policies: Cut cost by coming up with a plan to limit travel reimbursements such as transportation lodging and meals.
Shipping and Freight: Negotiate pricing with multiple carriers. In other words companies that Wal-Mart has done business with for many years, inquire about loyalty rates.
Ask for special seasonal discounts. Using the packaging that is provides by the carriers are sometimes a lot cheaper meaning more money for Wal-Mart to do other things. (In a
Business mind- have the customer absorb more of the