Role of strategic planning
In order to be successful in today’s rapidly changing business landscape, company leaders must consider how best to position their organizations in order to gain and maintain a competitive advantage. Strategic planning is a critical component of achieving that competitive advantage. For retail giants like Walmart, in particular, strategic planning provides crucial insight into the current and potential success of their diverse operations.
To prepare for this Discussion, review “Case 01: Walmart Stores” on pages C-2 to C-11 in Dyer, Godfrey, Jensen, and Bryce (2016) and consider the fundamental principles of strategic planning. Be sure to consider strategies for leveraging competitive advantage within a crowded industry.
Post an analysis of the role of strategic planning in establishing competitive advantage. Your analysis should include the following:
An assessment of the phase of the strategic planning cycle that might be the most useful for Walmart’s competitive advantage
An explanation of competitive differentiation as it relates to Walmart and similar retailers like Target and Dollar Tree. Be sure to address how Walmart’s choice of market focus contributes to its competitive advantage.
An assessment of Walmart’s value proposition, including why customers choose Walmart and whether advertised low prices are accurate
Be sure to support your work with a minimum of two specific citations from this week’s Learning Resources and at least one additional scholarly source.
Dyer, J. H., Godfrey, P., Jensen, R., & Bryce, D. (2016). Strategic management: Concepts and tools for creating real world strategy. Hoboken, NJ: John Wiley & Sons.
Chapter 1: “What Is Business Strategy?” (pp. 2–19)
Chapter 2: “Analysis of the External Environment: Opportunities and Threats” (pp. 20–45)
Case 01: “Walmart Stores: Gaining and Sustaining Competitive Advantage” (pp. C-2–C-11)
Bereznoi, A. (2014). Business model innovation in corporate competitive strategy. Problems of Economic Transition, 57(8), 14–33. doi:10.1080/10611991.2014.
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