Balanced Scorecard Of Wal
Balanced Scorecard of Wal-Mart
苏晓瑞 2012201689
Background of Wal-Mart
Wal-Mart is an American multinational retail corporation that operates a chain of discount department stores and warehouse stores. Headquartered in Bentonville, United States, the company was founded by Sam Walton in 1962 and incorporated on October 31, 1969. It has over 11,000 stores in 27 countries. Now Walmart has become the world’s largest company by revenue, according to Fortune Global 500 list in 2014, as well as the biggest private employer in the world with 2.2 million employees.
Walmart’s mission statement is “ to help people save money so they can live better”. Its final objective is “ to be the best retail store with a large assortment of high quality and low prices.” So Walmart’s general strategy is cost leadership strategy an high quality strategy. Also Walmart’s strategy are all customer-oriented, aiming to improve customers’ satisfaction.
Balanced Scorecard analysis
Strategy and objectives analysis
So based on Walmart’s objective of “ becoming the best retail store with a large assortment of high quality and low price” and general strategy of cost leadership and high quality strategy, we can break down them into operational level, considering the four aspects of balanced scorecard. Only in this way, can we make every aspect of balanced scorecard consistent with the objective and strategy of the company.
According to Walmart’s CEO Doug McMillon’s outline of the company’s growth strategy at the Annual Meeting in 2014, he said the general objectives and strategy of Walmart “to invest in new capabilities and to continue improving the customer experience” . Based on that objective in mind, McMillon also gave two key points that will drive the company moving forward. 1. Increase customers’ satisfaction with price. Assortment, access and experience. 2. Increase the return over and manage capital in a disciplined, thoughtful manner.
So before we give concrete KPI in each aspect of
苏晓瑞 2012201689
Background of Wal-Mart
Wal-Mart is an American multinational retail corporation that operates a chain of discount department stores and warehouse stores. Headquartered in Bentonville, United States, the company was founded by Sam Walton in 1962 and incorporated on October 31, 1969. It has over 11,000 stores in 27 countries. Now Walmart has become the world’s largest company by revenue, according to Fortune Global 500 list in 2014, as well as the biggest private employer in the world with 2.2 million employees.
Walmart’s mission statement is “ to help people save money so they can live better”. Its final objective is “ to be the best retail store with a large assortment of high quality and low prices.” So Walmart’s general strategy is cost leadership strategy an high quality strategy. Also Walmart’s strategy are all customer-oriented, aiming to improve customers’ satisfaction.
Balanced Scorecard analysis
Strategy and objectives analysis
So based on Walmart’s objective of “ becoming the best retail store with a large assortment of high quality and low price” and general strategy of cost leadership and high quality strategy, we can break down them into operational level, considering the four aspects of balanced scorecard. Only in this way, can we make every aspect of balanced scorecard consistent with the objective and strategy of the company.
According to Walmart’s CEO Doug McMillon’s outline of the company’s growth strategy at the Annual Meeting in 2014, he said the general objectives and strategy of Walmart “to invest in new capabilities and to continue improving the customer experience” . Based on that objective in mind, McMillon also gave two key points that will drive the company moving forward. 1. Increase customers’ satisfaction with price. Assortment, access and experience. 2. Increase the return over and manage capital in a disciplined, thoughtful manner.
So before we give concrete KPI in each aspect of