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Powerpointexample.pptxFinal Presentation
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February 28th 2021
Laura Hurff
February 27, 2021
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Company Description
Business Ethics Processes
Operations Management Processes
Marketing Management Processes
Recommendations for Innovation and Performance
References
Agenda
Walmart Inc.
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Formerly known as Wal-Mart Stores Inc., now Walmart Inc.
Sam Walton is the original founder of Walmart Inc
Walton mission statement was
“To save people money so they can live better.”
(About Us).
Company Description
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Corporate Social Responsibility/ Strategies
Walmart aims to;
source responsibly to eliminate waste and emissions
sell sustainable products
protect and restore nature.
Goal is to reach
Zero transmission operations by 2024
Zero waste in key markets 2025
Want to help neighbors live better lives
Frequently partake in volunteer/ emergency relief
(About Us).
Business Ethics Processes
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Code of Ethics
Walmart has 4 main beliefs:
Respect for the individual
Pride in service to customers
Strive for Excellence
Act with Integrity
(About Us).
Business Ethics Processes
Respect for the individual
“We value every associate, own the work we do, and communicate by listening and sharing ideas.”
Pride in service to customers
“We’re here to serve customers, support each other, and give to our local communities.”
Strive for Excellence
“We work as a team and model positive examples while we innovate and improve every day.”
Act with Integrity
“We act with the highest level of integrity by being honest, fair and objective, while operating in compliance with all laws and our policies.”
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Type of Organizational Structure
Hierarchical Functional Organizational Structure
Shows employees easily who they report too
Lower employees feel unheard
Slow communication of ideas or issues
Has to travel through steps to the top
(Johnson, 2017). (Lombardo, 2019).
Operations Management Processes
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Communication Dynamics
Focus on integrated marketing communication
Helps build strong/ mutually gainful relationships with possible stakeholders/customers
Sam Walton: clear and effective communication to consumers
“upward” form of communication
Customer problem becomes corporations problem
(UKEssays, 2018).
Operations Management Processes
Sam Walton left his vision for Walmart that still holds to this day, of using the integrated marketing strategy to communicate clearly and effectively with its consumers to better understand their thoughts and feelings on products and how they can be better treated in their stores.
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Transformational Processes
How they keep goal “save money, live better lives”
2 ways
Pay less for inputs
Use fewer inputs per unit of products
Rely on tons of products
Primary source of input is finished products sold from various businesses
(Ivypanda, 2020).
Operations Management Processes
Retail stores cover areas such as clothing, food, home care products, automotive care, health and beauty products, electronics, toys, sporting goods, lawn and gardening care items, jewelry, and hardware to name a few
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Supply Chain Strategies
Supply strategy is imperative for Walmart’s success
Eliminated chain links=cut down cost
Strategic Vendors to ensure lowest price possible to customers
Cross-docking= direct transfer from inbound or outbound truck without needing extra storage
Technology to help track inventory and restock shelves
Easy for consumers to pull merchandise to to store than stocking on shelves
(Lu, 2018).
Operations Management Processes
Originally, the owner, Sam Walton even would buy merchandise for his store in bulk and transport it himself to cut out some costs.
Cross docking: Keeps inventory and transportation costs down, reduces transportation time, eliminates inefficiencies.
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Total Quality Management
Ensure products are best quality for consumers
Suppliers have to meet federal, state and local laws as well as Wal-Mart specific requirements
Expect brand suppliers to hold their supply chain to same standards
3 tiers of quality standards
Lowest: minimum quality expectations
Middle: market average quality
Top: For some products as well as employees
(About Us). (Smithson, 2020).
Operations Management Processes
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PERT Chart
Operations Management Processes
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PERT Chart
Operations Management Processes
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Product or Service
Provide various products and services at their different type of stores
Walmart supercenters, Walmart Discount Stores, Walmart Neighborhood Markets
Products:
electronics, apparel, toys, home furnishings, health and beauty aids, hardware, groceries and more
Services:
protection plans, Sam’s Club Memberships, custom cakes, business services (registries), Vision and health services (pharmacy/health clinics) ( About Us.).
Marketing Management Processes
“Walmart Supercenters offer a one-stop shopping experience by combining a grocery store with fresh produce, bakery, deli and dairy products with electronics, apparel, toys and home furnishings” (About Us.). Some are even 24 hours with small specialty shops provided inside such as banks, hair and nail salons, restaurants or food chains, and vision centers. Walmart Discount Stores are smaller than Supercenters and offer things such as electronics, apparel, toys, home furnishings, health and beauty aids, hardware and more (About Us.). Unlike Supercenters, Walmart Discount Stores do not provide groceries. Lastly, Walmart Neighborhood Markets were designed to create a smaller footprint on the earth and were for areas that are in need of a pharmacy, affordable groceries, and merchandise. “Markets offer fresh produce, meat and dairy products, bakery and deli items, household supplies, health and beauty aids and a pharmacy” (About Us.).
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Place and Distribution
Over150 distribution centers
One of largest distribution supplies
6,100 tractors, 61,000 trailers, more than 7,800 drivers
Strong eCommerce platform= purchase products without having to go to the store
Great geographical placements in USA
(About Us.).
(Walmart marketing mix - Understand walmart's marketing strategy, 2020).
Marketing Management Processes
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Price
“Save Money. Live Better”
Bulk sales maximize sales= don’t over price products
Bargain with most affordable companies to keep prices low
Customers can pay cash or installment on large purchases
More appealing
Everyday Low Price pricing strategies
Attracts large number of customers--> drives prices down
(Ferguson, 2019).
Marketing Management Processes
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Promotional Plan
Slogans
“lowest price store”, “worry-free fresh”, “save money, live better” and most known “everyday low prices”
Advertises across multiple platforms
TV ads, billboards, social media, and even their Ecommerce platform.
Incredible replacement policies and reliable warranties
(Walmart marketing mix - Understand walmart's marketing strategy, 2020).
Marketing Management Processes
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Digital Media Strategies
New strategy to be more reactive in real time
Take advantage of social trends in real time (twitter)
Using memes
Each store has a Facebook page run by an associate
Important to respond to consumers on social media
Marketing Management Processes
Final Recommendations
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Operations:
Change to Matrix Structure
Continue pushing for green technology
Ethics:
Continue having the consumer be heard
Continue monitoring employees performance
Maybe include ratings
Marketing:
Branch out on social media
No real ads being seen
New Slogan/ Reoccurring ad like progressive to be recognized
Have it stick with the consumer
Recommendations
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References
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About Us. Corporate. https://corporate.walmart.com/our-story.
Ferguson, E. (2019, February 13). Walmart's Mission Statement & Vision Statement, Generic & Intensive Strategies. http://panmore.com/walmart-vision-mission-statement-intensive-generic-strategies.
Johnston, M. (2020, August 28). Top Walmart Shareholders. Investopedia. https://www.investopedia.com/articles/insights/060416/top-4-walmart-shareholders-wmt.asp.
Lebednik, C. (2019, February 11). What Agencies Regulate Retail Stores? Bizfluent. https://bizfluent.com/list-6120957-agencies-regulate-retail-stores-.html.
Monllos, K. (2020, February 17). Walmart's new social media strategy has BOOSTED app DOWNLOADS 50%. Retrieved February 22, 2021, from https://digiday.com/marketing/walmarts-new-social-media-strategy-boosted-app-downloads-50/
References
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Establishing a Timeline for Walmart: Accurate Essays. (n.d.). Retrieved February 01, 2021, from https://www.accurateessays.com/samples/establishing-a-timeline-for-walmart/
Ferrell, O. C., Hirt, G. A., & Ferrell, L. (2020). Business foundations a changing world. New York, NY: McGraw-Hill Education.
IvyPanda. (2020, June 10). Walmart's Lean Manufacturing Tools.Retrieved from https://ivypanda.com/essays/walmarts-lean-manufacturing-tools/
Johnson, W. (2017, November 21). Functional Hierarchical Organization Structure. Retrieved January 28, 2021, from https://smallbusiness.chron.com/functional-hierarchical-organization-structure-30482.html
Lombardo, J. (2019, February 15). Walmart: Organizational Structure & Organizational Culture. Retrieved January 28, 2021, from http://panmore.com/walmart-organizational-structure-organizational-culture
Lu, C. (2018, October 4). Walmart's successful supply chain management. Retrieved January 31, 2021, from https://www.tradegecko.com/blog/supply-chain-management/incredibly-successful-supply-chain-management-walmart
Our Retail Divisions. (n.d.). Retrieved January 31, 2021, from https://corporate.walmart.com/newsroom/2005/01/06/our-retail-divisions
Smithson, N. (2020, August 21). Walmart's Operations Management: 10 Strategic Decisions & Productivity. Retrieved January 31, 2021, from http://panmore.com/walmart-operations-management-10-decisions-areas-productivity-case-study-analysis
UKEssays. (November 2018). GLOBAL INTEGRATED MARKETING COMMUNICATION. Retrieved from https://www.ukessays.com/essays/marketing/global-integrated-marketing-communication-strategies-marketing-essay.php?vref=1
What is a PERT Chart?: Definition, Examples, and Overview. (2021, January 26). Retrieved January 31, 2021, from https://www.productplan.com/glossary/pert-chart/
References
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Dudovskiy, J. (2016, March 30). Walmart segmentation, targeting and positioning - Research-Methodology. Retrieved February 11, 2021, from https://research-methodology.net/walmart-segmentation-targeting-and-positioning/
Ferguson, E. (2019, July 17). Walmart Inc.'s marketing mix (4ps) analysis & recommendations. Retrieved February 11, 2021, from http://panmore.com/walmart-marketing-mix-4ps-analysis-recommendations
Ferrell, O. C., Hirt, G. A., & Ferrell, L. (2020). Business foundations a changing world. New York, NY: McGraw-Hill Education.
Hanbury, M. (2020, January 19). This is what the average Walmart SHOPPER looks like. Retrieved February 12, 2021, from https://www.businessinsider.com/walmart-shopper-demographics-average-is-white-woman-2020-1#overall-white-shoppers-were-in-the-majority-across-the-board-followed-by-hispanic-shoppers-5
Services. (n.d.). Retrieved February 11, 2021, from https://www.walmart.com/cp/services/6163033
Walmart customer loyalty is rising to the top. (2020, March 11). Retrieved February 11, 2021, from https://www.customer.com/blog/retail-marketing/walmart-customer-loyalty-rises-to-top/
Walmart marketing mix - Understand walmart's marketing strategy. (2020, July 27). Retrieved February 11, 2021, from https://corporatefinanceinstitute.com/resources/knowledge/other/walmart-marketing-mix/
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