How Does Walmart Affect Financial Impact
Walmart: Risk Factors and Financial Impact
With all new product introductions, there are inherent risks to the organization. The largest risks to Walmart in their online grocery service line involve customer information protection/security, technology and financial viability. As customers enter their sensitive information online (demographic information and payment/account information), Walmart becomes responsible for keeping this information secure and protected from online hackers. Customer’s spending habits could also contain sensitive information and be at risk for hacking. The success of this venture and Walmart’s entire online presence is dependent on their ability to keep customer’s information secure and maintain a reputation of credibility.
Walmart is also relying on new technology to ensure this service line works. They are utilizing their website to place orders, software to route the orders to the appropriate store and then to the appropriate staff, GPS software to plan the most efficient routes to shop through the store and kiosk systems to hold the orders and dispense them when a customer comes to pick it up. Any delays, shutdown, etc. in any of these systems will cause major problems with the service and will …show more content…
Walmart will need to a system to monitor the implementation of this project to ensure it stays on time and budget. Once implemented, Walmart needs to continue to monitor the project for quality and performance. Walmart should use a CPM/PERT system to schedule the project implementation steps and monitor the progress of the implementation and performance of the service (Russell & Taylor, 2017, p. 374). A CPM/PERT will help Walmart’s project manager keep appraised of the project and give warning when risk or problems arise that could jeopardize the financial viability of the project. Early warning and oversight can help Walmart fix issues before they become too large to
With all new product introductions, there are inherent risks to the organization. The largest risks to Walmart in their online grocery service line involve customer information protection/security, technology and financial viability. As customers enter their sensitive information online (demographic information and payment/account information), Walmart becomes responsible for keeping this information secure and protected from online hackers. Customer’s spending habits could also contain sensitive information and be at risk for hacking. The success of this venture and Walmart’s entire online presence is dependent on their ability to keep customer’s information secure and maintain a reputation of credibility.
Walmart is also relying on new technology to ensure this service line works. They are utilizing their website to place orders, software to route the orders to the appropriate store and then to the appropriate staff, GPS software to plan the most efficient routes to shop through the store and kiosk systems to hold the orders and dispense them when a customer comes to pick it up. Any delays, shutdown, etc. in any of these systems will cause major problems with the service and will …show more content…
Walmart will need to a system to monitor the implementation of this project to ensure it stays on time and budget. Once implemented, Walmart needs to continue to monitor the project for quality and performance. Walmart should use a CPM/PERT system to schedule the project implementation steps and monitor the progress of the implementation and performance of the service (Russell & Taylor, 2017, p. 374). A CPM/PERT will help Walmart’s project manager keep appraised of the project and give warning when risk or problems arise that could jeopardize the financial viability of the project. Early warning and oversight can help Walmart fix issues before they become too large to