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Strategic Planning Essay

1631 words - 7 pages

16Strategic and Financial Planning: Wal-MartMark Embriani, Ellen Jones, Devon Knowles, Laurie MartinFIN/370August 25, 2014John RapaStrategic and Financial Planning: Wal-MartWal-Mart started over 50 years ago as a small company providing consumers with low prices and convenient shopping. Throughout the years Wal-Mart has shown continued growth for it shareholders by focusing and developing new ways maintain lower prices and customer satisfaction. The 2014 annual report posted by Wal-Mart expressed the need to improve upon their e commerce business. This strategy requires both strategic and financial planning on Wal-Mart's behalf to develop the best possible e commerce experience for the ...view middle of the document...

Currently being beta tested in Denver, Colorado and other areas around the world Pangaea will offer customers many more products than before and lower more competitive pricing which customers expect under the Wal-Mart brand. Mr. Ashe states that their "back to basics strategy", using social media and other sources will help Wal-Mart target how their customers shop, either using their new "Wal-Mart to Go" testing drive up and drive through customer service, or the technology in UK stores , the Asda Direct Kiosk which allows customers to order products from the catalog while in the store or in China using the Yihaodian app to order and pay for products using the customer's phone, Wal-Mart is improving the way it reaches its customers in the United States and in the 27 countries around the world.Financial Planning and Cost'sE-commerce will affect the organizations financial planning due to making sure they are up to date on the latest technology and the research that goes along with making sure they are update with the latest technology. They will have to make sure they have a good team of employees that can handle the technology part of the company. The company intends on creating a transformative growth by adding capabilities in e-commerce and mobile commerce. They tend to view their business through the eyes of the customers; they tend not to think about the stores, clubs and websites independently.According to "Wal-Mart 2014 Annual Report" (2014),"We'll continue to invest to enhance technology platforms and expand fulfillment networks, including new facilities in Pennsylvania, Indiana and Brazil. Infrastructure investments help us to be nimble platform, Pangaea, will deliver a world-class integrated customer experience and improve our website speed, flexibility and scalability when it begins to roll out later this year. We're also leveraging global best practices to increase site visits and add services such as the Asda Direct kiosk - which allows customers to order from online catalogs while they're still in the store - to grocery delivery and drive-through pickup, which we're testing in Denver in the U.S. In fiscal 2015, we expect Global e-commerce gross merchandise value, which includes digital sales of Wal-mart goods and third-party sales through our sites, to exceed $13 billion" (page 16).The e-commerce initiative affected the costs and revenues of the supply chain in a positive way. Wal-Mart's Global e-commerce had an increase in sales above the $10 billion mark, which is a 30% increase in sales over the past years. The corporation has a strong focus on e-commerce and has it fully embedded within each of their businesses. Wal-Mart will continue to increase their investment into e-commerce as new opportunities present themselves (Wal-Mart 2014 Annual Report, 2014).RisksThere are many risks associated with this identified initiative including financial risks as well as ethical risks. With e-commerce there is a concern for security with the...

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