Management Planning Paper –Wal-Mart
Management Planning Paper - Wal-Mart
In today’s global market, corporations must have a plan if they are to be successful. Throughout this planning process management must approach this procedure in a conscious and systematic way. Deciding what to do and how to do it are the important steps that must be followed in this planning process. This article will provide examples of these and other ethical issues Wal-Mart has had to overcome.
Basic Planning Process
Six steps make up basic planning process and they are;
1. Situational Analysis – managers and planners should glean, understand, and review data relevant to the planning issue
2. Alternative Goals and Plans – base on the situational analysis substitute plans should be created on the chance that an obstacle presents itself
3. Goal and Plan Evaluation – planners will assess the advantages and disadvantages of their goals and plans. This includes considering possible repercussions.
4. Goal and Plan Selection – After assessing the various advantages and disadvantages of multiple plans, the most viable plan will be selected.
5. Implementation – Once the goals and plans have been selected, it is time to implement them. Managers and employees must understand the plan if they are to be successful at implementing it.
6. Monitor and Control – This step is essential if the organization is to be successful.
Monitoring the goals set by the plan and determining their success is imperative. If the plan is not meeting the expected goals changes must be made. However, this plan must include corporate social responsibility along with proper ethical business behavior.
Wal-Mart Corporate Social Responsibility
In 2005 Wal-Mart made a commitment to become a more environmentally sustainable retailer. They called their plain “Sustainability 360.” The plan took a look at their businesses inward and outward to find ways that they could reduce their affect on the environment. The plan also evaluated the how it could keep
In today’s global market, corporations must have a plan if they are to be successful. Throughout this planning process management must approach this procedure in a conscious and systematic way. Deciding what to do and how to do it are the important steps that must be followed in this planning process. This article will provide examples of these and other ethical issues Wal-Mart has had to overcome.
Basic Planning Process
Six steps make up basic planning process and they are;
1. Situational Analysis – managers and planners should glean, understand, and review data relevant to the planning issue
2. Alternative Goals and Plans – base on the situational analysis substitute plans should be created on the chance that an obstacle presents itself
3. Goal and Plan Evaluation – planners will assess the advantages and disadvantages of their goals and plans. This includes considering possible repercussions.
4. Goal and Plan Selection – After assessing the various advantages and disadvantages of multiple plans, the most viable plan will be selected.
5. Implementation – Once the goals and plans have been selected, it is time to implement them. Managers and employees must understand the plan if they are to be successful at implementing it.
6. Monitor and Control – This step is essential if the organization is to be successful.
Monitoring the goals set by the plan and determining their success is imperative. If the plan is not meeting the expected goals changes must be made. However, this plan must include corporate social responsibility along with proper ethical business behavior.
Wal-Mart Corporate Social Responsibility
In 2005 Wal-Mart made a commitment to become a more environmentally sustainable retailer. They called their plain “Sustainability 360.” The plan took a look at their businesses inward and outward to find ways that they could reduce their affect on the environment. The plan also evaluated the how it could keep
References: Bateman, T. S. (2009). Management: Leading & Collaborating in a Competitive World (8th ed.). New York, NY: McGraw-Hill/Irwin. Baue, B. (2009). The Latest Corporate Social Responsibility News: Walmart and Sustainability: Oxymoron or Salvation – or Both? Retrieved from http://www.csrwire.com/press_releases/27370-The-Latest-Corporate-Social-Responsibility-News-Walmart-and-Sustainability-Oxymoron-or-Salvation-or-Both- Ferdinand, A. (2007). Wal-Mart Determined to Lead int COrporate Social Responsibility. Retrieved from http://www.mccombs.utexas.edu/news/pressreleases/blackwell07.asp National Organization for Women. (n.d.). Always In Court; Always Wal-Mart: Legal Developments. Retrieved from http://www.now.org/issues/wfw/wm-legal.html Wal-Mart. (2009). Wal-Mart 2009 Sustainability Report. Retrieved from http://walmartstores.com/sites/sustainabilityreport/2009/en_overview.html