Expansion Strategy of Walmart Retail Stores †MyAssignmenthelp.com

Question: Discuss about the Expansion Strategy of Walmart Retail Stores. Answer: Introduction to Walmart Walmart is a very renowned American retail stores who provide a lot of products to their customers like the family apparels for all ages, beauty aids, household needs, electronic items, fabrics, toys and many more things (Walmart.com 2017). The headquarter of this organization is situated at Arkansas in USA. The founder of the organization is Sam Walton. This company is considered to be the largest company in the world regarding the revenue. They have their outlets all over the world and they are trying to open a new business in Saudi Arabia to expand their market in the Middle East Asia (Walmart.com 2017). Product and type of services As a global service provider, Walmart provides many kinds of services to their customers. They are the largest retail chain in the world and they are looking to retail products, photo services, pharmacy products, financial services and wireless service. They provide various electronic products to their customers like MP3 players, digital cameras, laptops and computers. They offer photo lab services as well (Walmart.com 2017). Apart from these things, Walmart offers several other things like the credit cards, debit cards, bill payment, money transfers, check cashing and printing and many such services. They also provide the T-mobile to their customers for a better customer service through wireless phone (Walmart.com 2017). Business statement The business statement of the organization Walmart says that they want to serve their customers better and they want that the people would be able to save their money by buying their products (Powell 2014). The advertisement slogan of Walmart also looks to save the money of the people. There are many processes and policies that they want to focus on to serve the customers in a better way. These are open door policies, Sundown rule, Grass Roots process and some more (Walmart.com 2017). Business vision The company Walmarts first priority is to serve its customers in a better way always. Their vision statement is To be the best retailer in the hearts and minds of consumers and employees (Walmart.com 2017). They desire to achieve the top position in the retail industry. They have had a great influence on the minds of the consumers and employees. The employees can earn the wages and this is why they will be looking to incorporate more varieties of products in their product archive (Anitha 2014). They want to provide products at low process to save the money of the customers. Business objective Walmart has certain objectives by which they will be able to utilize their mission. They want to build up some of the growth strategies by which they could expand in many countries outside their own country (Walmart.com 2017). They want to develop and execute certain strategies by which they could grow the e-commerce strategy. They want to speed up the global online channel growth by which they could develop new opportunities (Weng and McElroy 2012). They want to use new formats by which they could cater to the service to more customers. New platforms like Walmart Express will help them to communicate with more customers (Walmart.com 2017). The four managerial skills or functions that have to be performed in order to be applied to the Walmart Stores if it is opened at Saudi Arabia. a) The managers will have to understand the geographical condition and the economic situation of Saudi Arabia so that they will be able to apply the pricing strategies in that country. Walmart is an international organization so they will need to manage their definite weaknesses into their strengths (Kozina 2014). b) The human resource in Saudi Arabia is fair enough to provide the human strength that is needed to set up the infrastructure for the organization. There are a lot of people needed to be employed and take care of the whole business structure. The financial resources have to be managed by utilizing on the oil business of the Middle East Asia. The managers will have to take the full responsibility of the things that happen and manage the challenges that arise there (Kozina 2014). c) All the challenges that are evident in the managing of the business of Walmart will have to be addressed in this aspect by the managers. The planning has to be done properly to achieve the best achievements by Walmart in the Saudi Arabian region. As the region is very warm, they have to manage and innovate some things that should be provided suitable to the local atmosphere (Tutt and Duncan 2013). d) Walmart managers should ensure that the managers can control all the important things in the business. The objectives and mission of the organization will have to be accomplished by running the organization towards a grand success (Kaufman and Guerra-Lopez 2013). They can apply the various market expansion strategies and grow their business in the various regions (Tutt and Duncan 2013). The various stakeholders will have to be attached to this organization for a better result in their quest to expand in the markets of Saudi Arabia. Walmart can opt to open new markets like supermarkets and hypermarkets which the country has been lacking. The customers are the chief external stakeholders of Walmart and they should look to meet the demands of the customers. It is a concern for the Saudi Arabian people that their grocery stores are limited to baqalas. It is time for the people to look beyond the baqalas and get used to the supermarkets and the hypermarkets. One of the most important stakeholders in this context is the Saudi Arabian government (Buchholtz and Carroll 2012). The permission from the government to set up the government has to be sought to establish the supermarkets. Walmart managers will have to make the proper contacts with the local supplier of their products and trust in their worth (Buchholtz and Carroll 2012). The wholesale retail has to be supported by the government. The higher management should recruit the best talents from the Saudi Arabian human resource to get the best benefits as it will be very expensive to bring the American employees to this region and serve the purpose in this hot region, contrastive to that of cold in USA. This is how the stakeholders can be managed in Saudi Arabia if Walmart opts for expanding market to Saudi Arabia. References Anitha, J., 2014. Determinants of employee engagement and their impact on employee performance.International journal of productivity and performance management. Buchholtz, A.K. and Carroll, A.B., 2012.Business society: Ethics stakeholder management. South-Western Cengage Learning. Kaufman, R. and Guerra-Lopez, I., 2013.Needs assessment for organizational success. American Society for Training and Development. Kozina, A.W., 2014. Managerial roles and functions in negotiation process.Business, Management and Education,12(1), p.94. Powell, K.S., 2014. Profitability and speed of foreign market entry.Management International Review,54(1), pp.31-45. Tutt, K. and Duncan, C., 2013. Creativity and innovation.Independence,38(1), p.10. Walmart.com. (2017).Cite a Website - Cite This For Me. [online] Available at: https://www.walmart.com/ [Accessed 28 Oct. 2017]. Weng, Q. and McElroy, J.C., 2012. Organizational career growth, affective occupational commitment and turnover intentions.Journal of Vocational Behavior,80(2), pp.256-265.