Walmart Management Strategies
Controls
Management by objective (MBO) is a useful tool in both planning and control. It is the best management evaluations control that can be used by Walmart to determine the progress of the company as well as the issues that may be facing the operations. This type of control evaluates the progress by assessing the attainment f the objective set by the management as well as the failures that may have occurred in meeting the objectives (Deresky, 2017). Wal-Mart is one of the leading retailers in groceries and other products face stiff competitions from other organization, including Amazon, an online retailer, as well as Alibaba renowned online retail in Asia. Walmart has a vast market share in the retail industry, accounting for over 15% in all the categories of the products they deal with, including groceries. MBO can be used to measure and evaluate the progress made in the set objectives in any given period. The company has witnessed substantial expansion on its market shares and sales; therefore, with MBO, the company will be able o monitor and asses its progress as well as the shortcomings. The objectives that fail to be met in terms of marketing, reduced market shares, or increased competition can be determined by the control and call for corrective measures (Ferrell, 2016).
Management information system (MIS) is yet another method of management control that will come n handy for Walmart. This is based on the information collected from the company departments within a given timeframe. The information collected and used includes internal aspects such as the quality of products, the productivity of the employees, the brand as well as the management strategies used in Walmart (Hwang & Park, 2015). The external environment information includes the target market segments’, the capabilities of the company, the market shares, as well as the level of competitions. With this information, the company is capable of making significant decisions that affect the company one way or the other.
Implementations
The supervisors in Walmart will monitor the progress of the employees in all the departments. This will enable the management to have first-hand information on any issues that may arise in the implementation of these controls. It will also ensure that progress is well monitored and tracked. The department heads will also have additional responsibilities in managing and assessing the implementations of the management controls (Hill et al., 2014). With their oversight, they will be able to have a better chance of taking corrective measures in cases where any aspect of the process encounters hurdles. The information presented by the management Information system will also be used in the implementation process to make the necessary changes in relations to the market environment, the brand, quality of products as well as the pricing. These implementations will be measured by the availability of up-to-date information and their relevance to the operations of Walmart.
Marketing management
Walmart has retailer’s stores in different locations across the globe that is used for the distributions of its goods and services. North and South America are the main regions, followed by Europe and Asia. Walmart also distributes a range of products depending on the needs of the consumers. Their objectives are to ensure that they have all the products their customers need. The marketing objectives and targets are an expansion of market share as well as gaining a competitive advantage over their other retailers, including Amazon (Hwang & Park, 2015). The sales and marketing department has the responsibility of managing the marketing strategies; however, the other departments also provide information that is relevant in the decisions making process pertaining marketing.
References
Deresky, H. (2017). International management: Managing across borders and cultures. Pearson Education India.
Ferrell, O. C. (2016). Marketing strategy. Place of publication not identified: Cengage Learning.
Hill, C. W., Jones, G. R., & Schilling, M. A. (2014). Strategic management: theory: an integrated approach. Cengage Learning.
Hwang, M., & Park, S. (2015). The impact of walmart supercenter conversion on consumer shopping behavior. Management Science, 62(3), 817-828.