Strategic Plan Part 2: SWOT Analysis Paper

Business Innovation

Every organization aims at having the largest market share in the market through which it operates. Due to this reason, therefore, organizations feel the need to differentiate their products, to make them much better and customer attracting than those of their competitors. This process requires organization decision makers and other individuals to obtain ideas through which they can be able to improve their operations in such a manner. The activity of creatively formulating a new idea or product with an aim of improving the condition and performance of an organization or even formulating a new organization is well identified as innovation. The most innovative organizations currently emerge the most popular and well-placed organizations in the market, since, through the new ideas, then create and provide highly preferred products by the customers, and thus they obtain more sales, which in return reflect in their gains. This paper provides a new division of Walmart Stores, Inc. that presents a new product which Walmart stores does not offer, which is however highly innovative and if implemented and developed would provide the organization with numerous gains (Mckeown, 2014).

Propose a new product or service for the new company division. The division should be customer-focused with an innovative mission statement. Ensure that you are differentiating your product or service.

Walmart Stores Inc. is a corporation that operates as an American Multinational Retail Corporation, which manages to operate a chain of grocery stores, discount department stores, and hypermarkets. The organization, therefore, has purchased a wide variety of products, stores them and then distributes and sells them in its already fully established stores. With this organization having Been involving in the activity of retail selling products for a long time, it has already established customers that are loyal to its products, and much other retail organization that obtains the products from Walmart stores. It is these exact advantages that Walmart has, which most product producing organizations lack to become highly successful. This is because even though an organization might produce one of the best existing products, without a proper distribution channel and customers willing to buy that product, it is definite that the organization would not acquire gains. The organization has also managed to understand fully the purchase trends of the customers, the products that they prefer and those that they do not. Walmart is thus among the organizations that are better placed to produce customer attracting products.

With a clear understanding of these facts, the division I would create for this organization is a production division that will involve in the production of a small number of products that are likely to serve the customers much better than those already in the market. The specific products that the organization should produce in this department are fast moving goods like toothpaste and other household products like the blue band. The division should have its values, vision, and mission, but they should also align with the mission and vision of the organization. The organization’s Mission Statement is “Saving people money so they can live better.” With an understanding of this mission statement, the mission of the new division should be “ensuring that people get the best, with the least being required of them.” This statement is highly innovative and well aligned to the organization’s current Mission statement.

The products that the new division of this organization should produce, with toothpaste and the blue band being examples should be highly perfected. To achieve this, the organization should carry out preference and taste of the customers research regarding these products in its stores, and thus acquire an understanding concerning how to create even much better products than those in the market. These products would be highly beneficial to the customers and at the same time, they would help the organization obtain numerous gains. It is thus a highly innovative idea for this organization to create this division.

Describe how the division addresses customer needs and achieves competitive advantage.

Customers always prefer the best products above all other products. The price of the products also contributes to their products. The relevance of this division is the creation of much higher in quality products than those the organization offers to consumers in the market, but at the same time ensure that they retain price that is ranging similar to those products that consumers have been purchasing comfortably. For this reason, therefore, the organization would greatly be benefitting the organization. To ensure that the needs of the customers are fully addressed, the organizations require understanding those needs. It is for this purpose that the research concerning consumer preferences explained earlier is necessary. With this information and all the necessary capital, the organization is thus capable of providing high-quality products that are likely to address the needs of the consumers.

Concerning competitive advantage, the organization has already formulated a path that can lead to its success. To begin with, the organization’s stores have been in operational in many countries and for a long time. They have managed to be well established. The distribution channels of the products, therefore, are already well placed. The organization has also obtained household customers that are loyal to its products and thus for that reason, an introduction of the newly produced and differentiated products would be highly successful, with many individuals highly willing to purchase them. Since the products are formulated out through research on tastes and preferences of the customers, the majority are likely to like them and thus for that reason, the products that the division produces would simply acquire a competitive advantage over all other products.

Create a vision and a business model for this new division that clearly demonstrates your decision on what you want your business to become in the future.

This new division will be purposed to numerous high-quality product production. The vision statement that will, therefore, guide it is “to be the best organization in the high quality production of household goods offered at the lowest possible prices.” This vision will guide the organization in its production activities, by ensuring that it only produces the highest quality products only. It will also guide the organization to ensure that it produces products whose price will be in a similar range to many other easily purchased products. The division will have a business model of a production organization where there will be a Department of obtaining the required supplies which in most cases will the production materials necessary. There will then be a production department which will have the well skilled personnel, with the main purpose of making the production of the innovative products well described to them. The division will, also, contain a group of people whose main purpose will be identifying the most probable products that the organization can easily and in a cheap way increase quality and manage to provide high-quality products, and then describes the product, and how it should be produced to the production department. After production successfully takes place, it is handed over to Walmart’s organization marketers and distributors to distribute to the stores (Ferguson, 2016).

Explain how the vision, mission, and value of the new division align with the company's mission and vision.

The mission of Walmart organization as explained earlier involves an explanation of saving their money to make them live better. The division’s mission, on the other hand, involves producing high-quality products that will be sold to the people at low prices and thus the two clearly align and mean almost the same thing. The vision of the division is becoming the best in the production of the specific products that the organization will produce. This statement is similar and aligns with that of Walmart since it also involves the organization being well understood as the best in a retail business.

Summarize how the vision, mission, and values guide the division's strategic direction.

The vision, mission, and values of the division clearly guide the direction that the division takes. Concerning its mission, to begin with, the products that the organization creates requires being of high quality since the mission requires the organization to provide the best products. It also guides the organization to ensure that the production process is cheap, to enable the organization to charge fair prices for the same. The vision of the Division, on the other hand, requires that it manages to be the best organization that produces high-quality products at low and affordable prices. This, therefore, directs the division towards perfection, since it is only through it that it can manage to be the best. The values help all individuals within the division to remain focused towards the accomplishment of the goals that the division has.

Define your guiding principles and values for your division in the context of culture, social responsibility, and ethics.

The division will still operate under the Walmart Company. For that reason, therefore, employees within this division will operate using the operational ethics and values that are similar to those of Walmart Company. The social responsibility of the organization and that of the division will be similar since the division is within the organization. The division will, however, formulate its culture because it involves with different activities that Walmart organization does not (Lombardo, 2015).

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