Signature Assignment: Strategic Plan: Implementation Plan, Strategic Controls, and Contingency Plan Analysis

It is very important for a company to ensure that it revolves its business operations to ensure that it is always performing well. This is realized after a retarded growth is experienced regarding profitability. One of the things that would reduce profitability can be increased competition, increased costs, poor financial management as well as reduced investor interests. Therefore, it is a requirement that it may relook into four major perspectives in order to rejuvenate the once bigger brand for part of its vision and strategy. These four perspectives are the main components of a balanced scorecard that include; financial, internal business processes, learning and growth, and customer (Kaplan & Norton, 2006). The major strategies will be purely based on the SWOT analysis that detailed areas of great need to the business. After that, a better communication plan will be outlined to state how the stakeholders will be informed on the major milestones that the company achieves.

Shareholder Value or Financial Perspective

The company has been losing its market share, revenues have reduced, and costs increased. This has led to reduced profitability given that the competition has been steadily increasing. Walmart in its plan to come back to better terms is going to do the following; the company is going to enhance its grocery products as well as technologically advanced products that are affordable and of high quality. It will work in close association with its suppliers who have been embroiled in the supply of poor quality together with our legal team to ensure that they abide by our strict laws of ensuring that their supplies are on par with the recommended qualities.

As a result, adding that we are targeting to renew our market dominance and control of the larger market, we believe this will improve our profitability as well as give the company a larger market share (Kaplan & Norton, 2006). The new division will revisit all the projects that are currently being worked on by the company and evaluate their potential. Those that are unprofitable will have to be stopped for further planning or simply done away with. A better financial management system will be put in place and be monitored by the division to ensure that there are no loopholes and gaps in handling the company’s finances.

Customer value perspective

A business’ success is gauged on its ability to retain its current customers as well as attain much more. The ability to retain or attain more other will be a key factor in establishing how satisfied they are, what value they feel they have impacted the business and the business impacts to them. Some of the objectives that are aimed at increasing the number of customers are by improving on the technology used in Walmart as well as the efficiency (Cassidy, 2016). Good technology will assure the customers of their privacy; they will have more time to engage in other activities when the processes of buying and getting whatever, they need have been improved to reduced time.

Through a rewards system that the new division will propose, prepare and implement, we believe that the company will be adding some value to the customers, give them affordable yet quality products. This will mean that the staff is trained on how they can receive complaints, recommendations, and requests from the customers and act on them with due respect. More research and development will be conducted to find out on what the customers need, what is available for them what can be done to help one another and what should be done away with.

Process or Internal Operations Perspective

Walmart has many activities that take place to serve their many customers. This makes the workers to abide by their responsibilities and ensure that they do not let work pile up. Some of the things that the company measure is processed performance, productivity, operation metrics and the impact of the organizational change. To have positive results, the company has strategized on how new technological developments can be enhanced to help all the workers produce more quality results. It is against the company’s objectives to make their staffs working robots but rather give them a reason to use the resources at their disposal to even do better work.

Most of the operations have to there be automated without anybody losing his or her job but rather work on the areas that have been automated to ensure that all the processes are running smoothly. The new division will look at ways of integrating the automated process without losing any aspect of the process. Employees will be constantly evaluated on how they utilize their additional resources to ensure that no one faces further challenges of productivity, performance, and operations.

Learning and Growth (Employee) perspective

The essence of getting a job is to learn new ways as well as grow to higher ranks. There is the need for employees to change their roles and take higher roles as a sign of growth. What makes this to be possible is form the fact that they are constantly trained on how they can use the modern technology to ease their work. This makes the employees happy and will love working for the company. It's important to have staffs that are well trained to increase the level of organizational capability. With more technological innovation, we will not lose employees to the competing firms but we shall retain them as it is very expensive to hire new employees and loose talents.

The company intends to organize monthly training sessions for the employees on the use of any technology at their departmental level. The company will be conducting quarterly internal shifts of departmental members so that they may learn all the company processes and will reward the employees who will go beyond the company's provision in recommending and introducing better practices within their departments that will seem to help each other and the company at large. This way we will be encouraging self-exploration and innovation.

The communication plans

By implementing the above strategies, I find that the company will start gaining back its status like increasing customer loyalty, receiving many new customers, launching newer and quality products, retaining employees and finally efficiently serving the customer as well as controlling the many costs that reduce the profitability of Walmart gradually.

References

Cassidy, A. (2016). A practical guide to information systems strategic planning. CRC press.

Cervone, H. F. (2014). Improving strategic planning by adapting agile methods to the planning process. Journal of Library Administration, 54(2), 155-168.

Gray, J. E. (2015). Integrating the Principles of Total Quality Into the Strategic Planning Process for a Federal Services Acquisition Organization (Doctoral dissertation, California State University, Dominguez Hills).

Kaplan, R. S., & Norton, D. P. (2006). Alignment: Using the balanced scorecard to create corporate synergies. Boston, Mass: Harvard Business School Press.

Smith, R. D. (2013). Strategic planning for public relations. Routledge.

Smithson, N. (2017, January 17). Walmart SWOT Analysis & Recommendations. Retrieved from Panmore: http://panmore.com/walmart-swot-analysis-recommendations-case-study