Potential Risk Factors
Project Plan Jonathan Matos University of Phoenix November 25, 2019
Project plan
The presentation aims at describing the project for exploring new markets for Walmart company.
The industry has been faced with emergence of other companies that could easily substitute Walmart services.
Hence, there is a need to ensure the competitiveness of the company through expanding its market shares.
The presentation aims at describing the project for exploring new markets for Walmart company. The industry has been faced with emergence of other companies that could easily substitute Walmart services. Hence, there is a need to ensure the competitiveness of the company through expanding its market shares.
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Organizational information (Walmart)
Mission: “To save people money so they can live better.”
Vision: “Be the destination for customers to save money no matter how they want to shop.”
Values: The company has four major values, that is, “respect, strive for excellence, creating a business of better service for clients and also strategies for competition.”
Structure: The organizational structure is mainly the vertical command and the authority line.
Culture: The organizational employees behave in a way that they measure the capacity of the company to add value in its provision of services (Ferguson, 2015).
Mission: “To save people money so they can live better.”
Vision: “Be the destination for customers to save money no matter how they want to shop.”
Values: The company has four major values, that is, “respect, strive for excellence, creating a business of better service for clients and also strategies for competition.”
Structure: The organizational structure is mainly the vertical command and the authority line.
Culture: The organizational employees behave in a way that they measure the capacity of the company to add value in its provision of services (Ferguson, 2015).
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SWOT Analysis and Market trend research
The strengths of Walmart company include convenience towards meeting client’s requirements. This is mainly through ensuring that their stores are opened at all times in such a way that the clients can access them at any time. This has created a solid client base for the company (SMITHSON, 2015).
The main weakness for the company is the low prices for goods that lead to a low profit margin. The other weakness is that the company mostly employs the part-time employees, which plays a key role in minimizing their job security. Consequently, the employees do not provide the best services for the company.
The strengths of Walmart company include convenience towards meeting client’s requirements. This is mainly through ensuring that their stores are opened at all times in such a way that the clients can access them at any time. This has created a solid client base for the company (SMITHSON, 2015). The main weakness for the company is the low prices for goods that lead to a low profit margin. The other weakness is that the company mostly employs the part-time employees, which plays a key role in minimizing their job security. Consequently, the employees do not provide the best services for the company.
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SWOT Cont…
The company opportunities include that it has a thriving online retail. It also has well developed retail stores. The fact that it has low prices for the products also increase its competitiveness. It also has a good relationship with the clients.
Threats include competitiveness from companies such as Amazon. Fall in the company income would also lead to economic downturns for the organization (Swot analysis of Wal Mart, n.d.).
The company opportunities include that it has a thriving online retail. It also has well developed retail stores. The fact that it has low prices for the products also increase its competitiveness. It also has a good relationship with the clients. Threats include competitiveness from companies such as Amazon. Fall in the company income would also lead to economic downturns for the organization (Swot analysis of Wal Mart, n.d.).
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Project objectives
The main aim of the project is to discover new markets for the organization so as to enhance the competitiveness of the company.
This involves discovering the upcoming economic sectors in different regions of the world and integrating them within the organizational operations when possible.
The project also aims at establishing a clear guide that should be followed when exploring new markets within the world.
The main aim of the project is to discover new markets for the organization so as to enhance the competitiveness of the company. This involves discovering the upcoming economic sectors in different regions of the world and integrating them within the organizational operations when possible. The project also aims at establishing a clear guide that should be followed when exploring new markets within the world.
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Measuring success
The organizational success is measured based on the company sales and the returns that are acquired form the sales.
Hence, promoting more sales for the company would ensure more productivity and profitability of the company.
The more the sales, the more the profits and consequently the higher the success rates for the company.
The organizational success is measured based on the company sales and the returns that are acquired form the sales. Hence, promoting more sales for the company would ensure more productivity and profitability of the company. The more the sales, the more the profits and consequently the higher the success rates for the company.
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Value of the project to the organization
The project is important to the company especially for the reason that it works towards opening up new opportunities for the company.
The company will also be able to compete amongst other companies especially for the reason that it will be in a position to attract more clients from different regions.
Exploring new markets implies diversification of products. Consequently, the company will be able to attract more clients based on the kinds of products offered.
The exploration of new markets would also increase the company sales. This implies that the company would make more profits (How Walmart Builds Its Corporate Culture, 2016).
The project is important to the company especially for the reason that it works towards opening up new opportunities for the company. The company will also be able to compete amongst other companies especially for the reason that it will be in a position to attract more clients from different regions. Exploring new markets implies diversification of products. Consequently, the company will be able to attract more clients based on the kinds of products offered. The exploration of new markets would also increase the company sales. This implies that the company would make more profits (How Walmart Builds Its Corporate Culture, 2016).
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Project metrics
They include:
The organizational sales from the new markets.
The list of developing countries.
Potential clients.
Prices of warehouse establishments.
Strategies on the location.
Trained employees in the new regions (Walmart, 2015).
They include:
The organizational sales from the new markets.
The list of developing countries.
Potential clients.
Prices of warehouse establishments.
Strategies on the location.
Trained employees in the new regions (Walmart, 2015).
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Timelines
Assessment of the brand awareness in other countries would take one week.
Price reviews to attract more clients would take one week.
Survey on particular countries that would be the target would take about four weeks.
It would take about one week to identify 10 countries from which the operations can be started.
Analysis of the potential customers would take about one week.
Review of government needs would take four weeks.
Establishment of the expenses behind installation of warehouses would take five weeks.
Establishment of the new markets guide would take four weeks.
Establishing a good relationship with new suppliers would take about three weeks.
Analysis of methods and strategies would take four weeks.
Identification of well-qualified workers would take four weeks.
Evaluation of the labor expenses would take 5 weeks.
The assessments are described as follows:
Assessment of the brand awareness in other countries would take one week.
Price reviews to attract more clients would take one week.
Survey on particular countries that would be the target would take about four weeks.
It would take about one week to identify 10 countries from which the operations can be started.
Analysis of the potential customers would take about one week.
Review of government needs would take four weeks.
Establishment of the expenses behind installation of warehouses would take five weeks.
Establishment of the new markets guide would take four weeks.
Establishing a good relationship with new suppliers would take about three weeks.
Analysis of methods and strategies would take four weeks.
Identification of well-qualified workers would take four weeks.
Evaluation of the labor expenses would take 5 weeks.
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Responsible parties
They include:
The marketing director called Tristan.
The HRM manager called George.
The international relations manager called Christine.
The finance manager called Kenya.
The sales director by the name Solomon.
They include:
The marketing director called Tristan.
The HRM manager called George.
The international relations manager called Christine.
The finance manager called Kenya.
The sales director by the name Solomon
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Potential risk factors
Among the risks would be market and opportunity risk especially since the new countries would have a large population, of whom it is impossible for the entire population to like the brand.
Financial risks associated with opening up new stations for a company.
Technological risks since the company will require to install technological devices that match the technologies in the new locations.
Among the risks would be market and opportunity risk especially since the new countries would have a large population, of whom it is impossible for the entire population to like the brand. Financial risks associated with opening up new stations for a company. Technological risks since the company will require to install technological devices that match the technologies in the new locations.
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Contingency plans
To curb the issue of market and opportunity risks, there is a need for the organization to clearly define the target clients. This way, they will be in a better position to design and produce products that match the clients needs.
The project plan ought to ensure realistic amounts of cash are allocated for the different project metrics (Martínez, Galván & Alam, 2017).
The company need to incorporate the technological expenses amongst the other budget so as to ensure complete feasibility of the project.
To curb the issue of market and opportunity risks, there is a need for the organization to clearly define the target clients. This way, they will be in a better position to design and produce products that match the clients needs. The project plan ought to ensure realistic amounts of cash are allocated for the different project metrics (Martínez, Galván & Alam, 2017). The company need to incorporate the technological expenses amongst the other budget so as to ensure complete feasibility of the project.
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References
SMITHSON, N. (2015, August 13). Walmart SWOT Analysis & Recommendations - Panmore Institute. Retrieved May 16, 2016, from http://panmore.com/walmart-swot-analysis-recommendations-case-study
Swot analysis of Wal Mart. (n.d.). Retrieved May 16, 2016, from http://www.quality-assurance-solutions.com/swot-analysis-of-wal-mart.html
Ferguson, E. (2019). Walmart’s Mission Statement & Vision Statement, Generic & Intensive Strategies - Panmore Institute. Retrieved 7 November 2019, from http://panmore.com/walmart-vision-mission-statement-intensive-generic-strategies
How Walmart Builds Its Corporate Culture. (2016, June 21). Retrieved November 7, 2019, from https://www.glassdoor.com/employers/blog/learn-best-walmart-builds-corporate-culture/.
Martínez, A. B., Galván, R. S., & Alam, S. (2017). Financial Analysis of Retail Business Organization: A Case of Wal-Mart Stores, Inc. Nile Journal of Business and Economics, 3(5), 67-89. Retrieved from https://www.researchgate.net/publication/320824848_Financial_Analysis_of_Retail_Business_Organization_A_Case_of_Wal-Mart_Stores_Inc
Walmart (2015). Walmart 2015 Global Responsibility Report. Retrieved from: https://cdn.corporate.walmart.com/c0/24/2383f0674d27823dcf7083e6fbc6/2015-global-responsibility-report.pdf