Summary:

This paper is divided into four sections to explore and answer the question, “What makes Wal-Mart the best in the industry.” The four sections are: 1) retailing industry at the time of Wal-Mart’s innings, 2) Wal-Mart’s Competitive advantage and key components, 3) Wal-Mart’s Strategy and 4) Sustainable growth of Wal-Mart. Although these sections offer a view to understand how Wal-Mart has made itself the dominate retailing business in the world, Wal-Mart’s strategy is to be the focus of this summary.

Wal-Mart strives on three generic strategies consisting of Focus Strategy, the Differentiation Strategy and overall cost leadership. Expanding their already 4000 stores, continuing to provide goods under its own legal brand, and buying in bulk to lower consumer prices is other strategies employed by Wal-Mart.

Article Quote:

“It is learnt that Wal-Mart strives on three generic strategies consisting of Focus Strategy, the Differentiation Strategy and overall cost leadership. Managers strive hard to make their organizations unique, distinctive and identify key success factors that will drive the customers to buy their products.Thus, firm specific resources and capabilities are crucial in explaining the firm’s performance.”

Link: http://www.articlesbase.com/strategic-planning-articles/strategic-management-a-case-study-of-walmart-inc-945260.html

Cleaver planning and implementation have given Wal-Mart the ranking of #1 largest retailing business in the world. Strategic and operational planning enabled Wal-Mart to be a cost cutting leader, giving them a huge advantage over competitors. What makes Wal-Mart standout is also that they implement their plans very well. Implementation should be an ongoing daily exercise that structures objectives and tasks with the strategic plan at the core.

For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/