University of Phoenix
Dr. Reid Conner
This paper will identify the strategies of three companies that have demonstrated strategic processes that are similar to Wal-Mart. The topics address in this paper will consist of the issues of different strategies utilized by those companies will be addressed, and the outcomes. Based on the various strategies the paper will explain how Wal-Mart could implement them to address the issues identified. General Electric-Supply Chain Management
General Electric (GE) is headquartered in Fairfield, Connecticut. The company is widely spread over 100 countries and has a workforce of more than 300,000 employees worldwide. GE has a diversified technology – six businesses are all aligned – reflecting the company’s capability to deliver and achieve excellent results (GE, 2008). The accomplishment of GE’s businesses is reflected in the expansive line of products and services the company offers which span many industries and customers worldwide. GE partners with its suppliers to create value and competitive advantage. As part of its supply chain management strategies, GE uses the partnerships to ensure timeliness and quality from the suppliers. GE also relies on the experiences of the suppliers when designing new product and delivering services to the supplier as well. The strategic process that the company uses includes integration with the suppliers, financial support, and training (GE, 2008). In structuring this GE has found an ideal way to keep costs low and quality high. This is a key benefit to the managers and the suppliers of the company especially for the company’s future success. In order to understand the way the strategic management process operates, one has to know the definition of the term. Strategic management is defined as a process with the flow of information. In the strategic management process, the flow of information involves historical, current, and forecast data on the operations and environment of the business. Managers evaluate the data in light of the values and priorities of influential individuals’ and stakeholders which are vitally interested in the actions of the business (Pearce & Robinson, 2004). All information collected from GE and many other companies in their situation could be beneficial to the company. Wal-Mart’s strategy is simple as well; cater the stakeholders and the customers. The strategic processes used by the managers of Wal-Mart offers positive outcomes for leadership, stakeholders and provide the moral and ethical culture for their employees. The strategy for future years to come is to keep customers happy and continue to follow their vision. Keep offering the lowest prices and striving to have the best customer service for the retail industry. Dell-Low Cost Leadership and Differentiation
People around the globe are familiar with one of the world’s leading personal computer (PC) manufacturer. Dell produces customized computers, laptops, and processors, which have made a common name for the PC and technology industry. The executives of Dell pride themselves in being one of the industries low cost leaders in the computer industry. This strategy of having low prices on computers and laptops has set them apart from the other leading competitors in the market. It was CEO Michael Dell’s vision for the company to produce high quality products and services at a low price in the PC industry. This particular strategy has worked for the company over the years, while sustaining the number two position in the industry. Although, the company has a low cost strategy in which has worked for the company over the years, but the company also has a differentiation strategy process. Dell is the only PC manufacturer that offers a customized product. Dell sells directly to its customers and manufactures to the customers orders. This has differentiated the company amongst the competition.
Wal-Mart has had similar...