How Wal-Mart Done the Transformation Strategically free essay sample

Executive summery In this report had analyst How Wall-Mart done the transformation strategically to win the market in situation of financial crisis? The fanatical crisis becomes huge threat to all organizations in the world. Because it becomes challenge to Wall-Mart also. Through this report I had highlight the causes for problem happens and rectify the problems through measurements with statistical data. Then this report had explained what are the steps that taken by Wall-Mart to achieve their vision. So Wall- Mart Implement the strategic plan call Project Impact is based on three strategic initiatives that will improve the benefits to the customer. The three initiatives are; Save Money, Live Better; Win, Play, Show; and Fast, Friendly, Clean. Then finally conclusion come up with suggestions to increase the Wall-Mart productivity, efficiency, effectiveness an their brand image to win the market. About Wall-Mart Wall-Mart helps people around the world save money and live better anytime and anywhere in retail stores, online and through their mobile devices. We will write a custom essay sample on How Wal-Mart Done the Transformation Strategically or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Each week, more than 245 million customers and members visit our 10,900 stores under 69 banners in 27 countries and e-commerce websites in 10 countries. Wall-Mart has become known for their always low prices because of their effective cost leadership strategy. However, along with this success has come much criticism on the value of their merchandise and the ethics behind their strategies. The following will explore how they operate and Just how sustainable Wall-Marts strategies are for the future. Problem question How Wall-Mart done the transformation strategically to win the market in situation of financial crisis. This case analysis on how Wall-Mart faces to the US financial crisis. The fanatical crisis becomes huge threat to all organizations in the world. Because it becomes challenge to Wall-Mart also. So Wall-Mart needs a big change to win the market in this situation. Because Wall-Mart selling end consumer products. They are doing retail business with people. So crisis become m ore and more sensitive with the growth strategy of Wall-Mart. Despite the financial crisis in America, Wall-Mart stores continue to do well and even exceed sales expectations. As business slows down and more people are laid off from work, they will continue to shop but do so with a tighter hold on their purse strings. Wall-Mart is clearly providing a service for the low income ND frugal minded shopper by keeping prices down. Specifics * Financial Crisis The financial crisis of 2007-2008, also known as the Global Financial Crisis and 2008 financial crisis, is considered by many economists. It resulted in the threat of total collapse tot large financial institutions, the bailout tot banks by national governments, and downturns in stock markets around the world. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of U. S. Dollars, and a downturn in economic activity leading to the 2008-2012 global recession and contributing to the European sovereign-debt crisis. * Consumer purchasing power Consumer buying power is the behavior of a consumer in regards to how he spends money on goods or services. Consumer buying power does not remain static year after year. Changes in the value of the currency, inflation of product prices and average wages all factor into the consumer buying power figures. Higher prices might mean that buying power shifts to necessities such as clothing and housing and away from entertainment. Conversely, if it is found that average wages are increasing and the prices are remaining low, then buying power can shift toward industries that fulfill the wants of the consumers as well as the needs. So cause of that consumers purchasing quantity of goods depends on individual purchasing power of customer. * Less Efficiency in store management As customers has no enough time to spend shopping. They like well organized and convenience place for shopping in minimum expend of time. Measurable * Inflation rate: In simple language, inflation meaner rising prices and it shows the increase in cost of living. In economics, inflation is explained as rise in the general level of prices of goods and services in an economy over a period of time. High inflation distorts consumer behavior. Because of the fear of price increases, people tend to purchase their requirements in advance as much as possible * By taking how many average time spending by customers inside the Wall-Mart. This will show the shopping convenience of our shells arrangement and goods storing to customer. And it should analyze with the value and the quantity of consumers purchasing basket. * Take the research on most consumable products f Wall-Mart customers and how much time spending to buy that products. * Monitor the inventory control data to measure inventory movement of goods in store. Literature review SOOT analysis: is a structured planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a Wall-Mart. Porters five forces model Porter five forces analysis is a framework for industry analysis and business strategy development. It draws upon industrial organization economics to derive five forces that determine the competitive intensity and therefore attractiveness of a market. Alternatives Improve the store efficiency of inside of the store. Wall-Mart wants to improve the customers in-store experience as well as becoming more efficient in and out of each store. Merchandising with back end logistics. * Financial crisis * Low purchasing power cause for reduce the consumption ability of people. * Exchange rate fluctuation is affect when working as multinational company as a globally. * Inflation * Atmosphere changing the interior designing and arrangements for easier shopping experience, Implementation * Implement the strategi c plan call Project Impact: The Company is in the beginning takes of a massive store and strategy remodeling effort, which it has dubbed Project Impact. One goal of Project Impact is cleaner, less cluttered stores that will improve the shopping experience. Another is friendlier customer service. Wall-Mart is embarking on an ambitious U. S. Store remodel program as part of its three-year strategic plan, dubbed Project Impact Save Money. Live Better. (A marketing message directed at consumers) Win. Play. Show. (An organizing principle for decisions about merchandising and assortments) Fast. Friendly. Clean. (A direction or the in-store experience) * Change the promotional strategy. Change Logo Change colors * Save Money. Live Better. The goal is to create a clear value proposition within a integrated communication strategy to achieve a high level of consumer trust. Outline of the components needed to achieve this goal: Consistent In-Store Brand Message Standardized printing specifications for suppliers Incorporate themed graphics on displays / less national branding ratio Preferred suppliers for themed graphics and display vehicles Common message that addresses consumers needs in Wealth ; Health Improve the Merchandise Flow Wall-Mart has a merchandise replenishment cycle of no more than 48 hours. Wall-Mart has adopted efficient processes such as cross-docking which as reduced operating costs, increased throughput, reduces inventory levels and eliminates unnecessary handling and storage of product. * Supply Chain Transformation Wall-Mart are working to improve efficiencies in the supply chain and especially in transportation. * Price Leadership The Company is well known for its Every Day Low Pricing, but Wall-Mart is aiming to give the consumer greater value for each product category. Integrated Brand Communication Although Wall-Mart is looking to reduce the overall number of suppliers and products. This initiative sees Wall-Mart optimizing the products in each of its stores. Reducing the number of products, and perhaps reducing the number of overall suppliers, Wall-Mart can encourage suppliers to reduce prices. * Win. Play. Snow. The goal is to create greater clarity, reduce inventory and increase sales growth on the shelf and in the store. Outline of the components needed to achieve this goal: Win Wall-Mart to pursue aggressively to Gain Share Play Opportunities to Capture Growth items where Growth Profit can be balanced Show Items that must be maintained to retain one-stop shop. Skis and suppliers will be rationalized to drive efficiency * Fast. Friendly. Clean. The goal is to create a faster, cleaner, and friendlier shopping environment to generate increased trips and cross-department shopping. Outline of the components needed to achieve this goal: Improve Sightlines and Navigation More overhead signage Less Inventory Lower Shelves Wider Aisles Removal of Pallets in Action Alley To Develop Overall Convenience Calculated department positioning Faster, more approachable check-outs Educational Signage Singular Price Points Fewer SKIS * To Enhance Atmosphere wall-Mart TV Focus on Unbeatable and Rollback Savings Softer Store Color Tones * Project Impact stores reshape Action Alley, the aisles where promotional items were pulled off the shelves and prominently displayed for shoppers. Those stacks both crowded the aisles and cut off sight lines. Now, the aisles are all clear, and you can see most sections of the store from any vantage point. Conclusion Wall-Mart needs a big change to win the market in this situation. Because Wall-Mart selling end consumer products. They are doing retail business with people. So crisis become more and more sensitive with the growth strategy of Wall-Mart. To face that challenge Wall-Mart had Implement the strategic plan call Project Impact: The Company is in the beginning stages of a massive store and strategy remodeling effort, which it has dubbed Project Impact. Wall-Mart had planned to transform the organization that they gain the experience from financial crisis. So transforming the organization within the crisis period is a big challenge. Because the project impact was very huge investment at that time. They change their marketing message to Save Money. Live Better to create a clear value proposition to achieve a high level of consumer trust. And they use Win. Play. Snow strategy to reduce inventory and increase sales growth on the shelf and in the store. The Wall-Mart shopping true online is also reduce the customer traffic and help to open Wall-Mart shopping roars of the day. According to my think online shopping is good for normal goods. Through inline we cannot touch and feel the product physically. So online shopping is not good for product like cloths. I propose the RIFF technology for store management at Wall-Mart. One such technology is radio-frequency identification, or RIFF, which transfers data stored on tags on a product or other object, facilitating identification and tracking. Wall-Mart can be use RIFF technology for about a decade and cites numerous benefits, including more efficient inventory management. The company can introduce RIFF to track pallets of merchandise traveling along its supply chain, including at warehouses. Then its help to cutting the volume of excess inventory in Wall-Marts massive supply chain and slashing out-of-stock occurrences.

The novel Hard Times Essay Example

The novel Hard Times Essay Example The novel Hard Times Paper The novel Hard Times Paper Essay Topic: Hard Times Woman On the Edge Of Time In the novel Hard Times, Mrs Sparsit is the housekeeper for the very outspoken Mr Bounderby, who is always talking about how self made he is although throughout the book he story alters a bit to fit the mood of the particular chapter. Mrs Sparsit is not portrayed, as you would expect a housekeeper to be portrayed. The connotations of her job have no similarities to her personality. Mrs Sparsit herself has had trouble in the past, although she had the status of an upper class female she lost her status in society due to debts her husband left her with. Mrs Sparsit married Mr Sparsit but when he got addicted to gambling he got into so much debt that he ended up passing away with them over his head. In Book 1 we are introduced to Mrs Sparsit as Bounderbys housekeeper but then she starts to make many hints that she has a particular spot for Bounderby that she cannot talk about. She is introduced as this elderly lady that presided over his establishment. Mrs Sparsit speaks of her hardship to Bounderby in the hope that he will understand because he speaks about being so hard done by in the past by his mother. Mrs Sparsit can relate to Bounderby and thats why she is so drawn to him in the novel, also because they are the same age she feels even closer to him. Mrs Sparsit is quite insignificant in the first Book but she placed there because she objects so much to Bounderbys marriage proposal to Louisa. We get many clues that Mrs Sparsit that Mrs Sparsit is fond of Mr Bounderby in more ways than one and we pick up on this because of her reaction to the marriage. In book 1 Mrs Sparsit is the fuel that keeps Bounderbys already huge ego going. Due to all the debts that she was left with Mrs Sparsit is financially dependent on Bounderby, and in her opinion she is his number one woman because she does all the womanly duties around the house. Also Bounderby depends on her for her womanly perspective on female issues. In Book 2, Mrs Sparsit becomes more significant and she is more constant through out the second book. She plays a more active role because she is sent to live in the bank because of the marriage and Mrs Sparsit is quite publicly annoyed so she decides that she is going to call Louisa by her first name and not her marriage name. She has so many objections against this marriage because she can see Louisa being a threat to her number one place in Bounderbys household, also she knows that she could be a better wife than Louisa therefore disagrees with this marriage but she will never get to show Bounderby what a wife she could be because of Louisa. Mrs Sparsit is so desperate to separate Bounderby and Louisa that she drives a wedge between them by commenting on every little detail about Louisa. In Book 2 Mrs Sparsit is sent to live in the bank Dickens relights the whole fact vs. fancy battle that takes place everywhere in the novel, because he says Mrs Sparsit considered herself, in some sort, the Bank fairy then goes on to say Townspeople who in their passing and repassing saw her there, regarded her as the Bank dragon. Dickens has used these examples to imply Mrs Sparsit personality of a spy who watches over Bounderbys household like a dragon would a layer. In this particular part of the novel Mrs Sparsit displays her weakness for spying as she goes and spies on Louisa and Harthouse, she tries to pick up as much information as she can to go back and tell Bounderby of Louisas cheating ways. Harthouse and Mrs Sparsit meet in the bank where she now lives, Harthouse makes spiteful comments to Mrs Sparsit in the hope that she will be more annoyed at Louisa coming in to Bounderbys household and snatching her place away, so it ends up that Louisa and Bounderby get divorced for Harthouse to marry Louisa. Therefore he says to her I presume, that Mr Bounderby the banker does not reside in the edifice which I have the honour of offering this explanation? It seems that Mrs Sparsit was placed in this particular part of the novel because she persistently follows Louisa and Harthouse that she finally ends up pushing Louisa to tell her father how unhappy she is with the marriage. Mrs Sparsit has been given the job of spying on people in the novel because she thinks that nobody would suspect an old housekeeper to be the towns gossiper, so she uses that to her advantage. Dickens has portrayed Mrs Sparsit in this particular way because he wanted Mrs Sparsit to see everybody miserable, as they had done when she was left with her husbands debt. So by her spying and interfering in Louisas marriage and her relationship with Harthouse it is her opportunity to get Bounderby and be happy for once in her life but it does not work out like that for her.

Research report on Australian financial services industry Essay

Research report on Australian financial services industry - Essay Example The economic recession spiralled by the subprime crisis has called upon business organizations particularly banks and other financial institutions to ensure better risk management practices. It also calls for financial institutions to increase the level of compliance. These calls for a collective effort on the part of bankers, central bankers as well as policy makers to formulate policies that seek to ensure financial health and stability of these crucial institutions of the economy. The present study would analyse the financial institutions in Australia with regards to their structure and legal framework. Special emphasis would be given to the banking sector in the report that would also analyse the challenges faced by the Australian banks. Structure of Australian Financial Institutions The Australian financial services industry is divided into a total of nine distinct sectors which includes deposit based financial institutions like banks and other credit agencies, non deposit based financial firms, the central bank, asset investing firms like stock trading companies, pension and superannuation fund management companies, auxiliary firms like stock brokers, mortgage securities firms, life insurance, general insurance and finally the insurance broking companies. The financial sector contributes about 18 billion Australian dollars to the nation’s economy which equals almost 8 percent of the total GDP of the nation. The nation has a total of 30000 financial institutions which also provide employment opportunities to a significant share of the population of the nation that is being pegged at 700000 individuals which includes approximately 6.4 percent of the total workforce in Australia (IBSA, 2010, p.4, 6). Figure 1: Assets of the Financial Institutions in Australia (Source: Austrade, 2009, p.13) The figure above shows the total assets of the financial institutions in Australia as of the year 2009. According to the statistics shown in the figure the total as sets of the financial institutions of the nation was 4431 billion Australian dollars. The compounded annual growth rate is being pegged at 11.8 percent starting from the year 1994. The financial institutions in Australia have also expanded their reach to across all the major and developing markets across the globe (Austrade, 2009, p.13). In terms of investment based funding assets the current value of the total assets in the nation is 541 billion AUD which is the fourth largest in the world. The figure is expected to grow to about 1979 billion AUD by the year 2015 (Austrade, 2009, p.16). Banking Industry in Australia As per the latest information from the Australian Reserve bank there are about 58 banks in the nation that includes 7 major banks, 7 local banks, 9 foreign banks incorporated in Australia and 35 foreign banks. The total cash and liquid assets including notes, deposits and coins apart from other liquid assets amounted to 3 percent of the total assets of residents in Aust ralia. Trading and investment based securities accounted for 9.3 percent and 6 percent respectively. The loans and advances segment including all forms of loans extended to the retail as well as corporate houses in the nation amount to 62.2 percent. Other