A Competitive Strategy Of Wal Mart - 983 Words

A competitive strategy deals with the particulars of how the management team plans for competition and safeguarding their competitive advantage within the industry. Devising a competitive advantage is vital to the sustainability of an organization. Utilizing the low-cost provider strategy has been a very popular strategy for many organizations. This strategy is one form of competitive strategy that attempts to provide the lowest prices as compared to its direct competition. The low-cost strategy is appealing to a wide range of customers since many customers based their purchases on the price of the items. For example, the low-cost strategy is one that is most associated with the mega-retailer Wal-Mart. Because Wal-Mart’s strategy has been to focus on the low-cost aspects, it has pushed the retailer into becoming one of the major retail stores world-wide. The low-cost strategy has been a particularly successful strategy in Mississippi. With the unsteadiness of the economy toda y, most consumers are more conscious of the price factors. Along with the state of the economy as a whole, Mississippi has for many years been considered one of the most poverty-stricken states in America. However, it can also be viewed as Mississippi has consumers that value money and chooses to spend their money on necessary things rather than unnecessary things. According to Deuteronomy 15:7-8, â€Å"If among you, one of your brothers should become poor, in any of your towns within your land thatShow MoreRelatedWal Mart s Competitive Strategy Essay1439 Words   |  6 PagesA company’s competitive strategy defines, relative to its competitors, the set of customer needs that it seeks to satisfy through its products and services. For example, Wal-Mart aims to provide high availability of a variety of products of reasonable quality at low prices. Most products sold at Wal-Mart are commonplace (everything from home appliances to clothing) and can be purchased elsewhere. What Wal-Mart provides is a low price and product availability. McMaster-Carr sells maintenance, repairRead MoreThe Five Competitive Strategies For Wal Mart1540 Words   |  7 Pages Five Competitive Strategies The five generic competitive strategies are low-cost provider, broad differentiation, focused low-cost, focused differentiation strategy, and best-cost provider strategy. According to the textbook, â€Å"a company’s competitive strategy deals exclusively with the specifics of management’s game plan for competing successfully† (Gamble, 93). The main objective of a low-cost provider is to achieve a lower overall cost than its main competitors and rivals by means of underpricingRead MoreCompetitive Strategies and Government Policies Paper on Wal-Mart1908 Words   |  8 PagesCompetitive Strategies and Government Policies Paper on Wal-Mart ECO/365 University of Phoenix Week 5, Learning Team Assignment March 18, 2013 Management has recognized the effect of changes in the real-world competitive environment and government policies on other industries and anticipates similar events occurring in their industry, so they ask you for a report considering the following points. Write 1,400 – 1,750-word paper of no more than in which you describe how each of the followingRead More1. Identify and Evaluate the Strategies That Wal-Mart Has Historically Pursued to Create and Sustain a Competitive Advantage.1587 Words   |  7 PagesDAVID BANJO MGT 4199 1. Identify and evaluate the strategies that Wal-Mart has historically pursued to create and sustain a competitive advantage. Answer: Wal-Mart’s pursuit and ability to sustain a competitive advantage has allowed the company to make use of many strategies. One of the strategies that Wal-Mart has made use of is the Expansion strategy. The company realized that building a new store will allow for increase market share value. The company opened new locations in the communityRead MoreToday, More Than Ever, The Ceo Of Wal-Mart Has To Undertake1177 Words   |  5 PagesToday, more than ever, the CEO of Wal-Mart has to undertake new products, organizational growth, the increase of competition, and a changing workforce due to technological developments. In response, the CEO must place Wal-Mart in a position to be responsive to changes. Part of putting Wal- Mart in the right place for change is dependent on the CEO ability to take advantages of the strategies recommended. For instance, Wal-Mart must exploit innovation and use technology to increase sales, also toRead MoreWal-Mart Stores Inc.: Dominating Globa l Retailing1218 Words   |  5 PagesWal-Mart Stores Inc.: Dominating Global Retailing The retail industry in the U.S. has become saturated, and the market is control by a few big retailers. They all offer very similar products, so the differentiating factor are usually quality and price. Competitive advantage comes from innovative strategic thinking, funds to buy other competitors, and impeccable execution. In addition, the global economic crisis has increase customers’ price sensitivity, and has put more pressure on retailers. Read MoreCompetitive Advantage Vs. Competitive Strategy1514 Words   |  7 PagesC. Competitive Advantage Related Theory Competitive strategy is the moves and methods that the firm has taken and is taking to appeal buyers, improve its market position, and to endure competitive pressures. The strategy is about what a firm’s capability to try to knock off competitors and attain competitive advantage, which can be offensive or defensive. There are three approaches to competitive strategy, which are low-cost leadership strategy where struggling to be the overall low-cost manufacturerRead MoreEssay on Walmart, Information System1629 Words   |  7 Pagessystems as a strategic tool to improve their competitive advantage. Choose one of these companies (Toyota or Wal-Mart) and prepare an essay of 1500 words on: a) how information systems are used strategically by the company to gain a competitive advantage b) discuss if it is possible for the company to maintain this advantage in the future. You are expected to use the competitive forces and/or value chain model in your analysis. In this essay, Wal-Mart was chosen to be the case to analysis. FirstlyRead MoreWal-Mart Case Study1723 Words   |  7 Pagesextent is Wal-Mart’s performance attributable to industry attractiveness and to what extent to competitive advantage? Wal-Mart is a company which operates in the service sector, more specifically in the â€Å"Discount, Variety Stores/Retail† industry. The company’s superior performance is demonstrated through the fact that it was America’s largest company (in terms of revenue) in 2002, and the reputation of the company is reflected in the opinion of â€Å"Fortune† who have identified Wal-Mart as one of theRead MoreSwot Analysis : Resource Based View Essay1540 Words   |  7 Pagessustained competitive advantage encompasses a firm’s wide range of resources such as organizational, social, and individual phenomena that are valuable, rare, imperfectly imitable and non-substitutable (VRIN). Therefore, it is crucial and vital for the relevant resources to possess all four of the VRIN attributes in order to be the firm’s sustained competitive advantage (Barney, 1991). Additionally, he also added that competitive advantage relies heavily on the chance of a competit or’s competitive duplication