Operational Planning
Operational Planning
I. Introduction Operational planning is setting up procedures and processes at the lower level of the company in order to meet the overall goal of the company. There are different factors for each company that affects the operational plan and how it is laid out. The operational plan can also greatly influence the success of a company. There is a direct correlation between the operational plan and a company's strengths and weaknesses. The operational plan must also take into consideration the various opportunities open to the company as well as current trends and threats in the market. All of these factors are very apparent in the way Wal-Mart has set up its operational plan.
II. Factors that Influence Operational Planning There are many factors that go into the day to day operational planning at Wal-Mart. Wal-Mart's goal is to provide quality goods at low prices to its customers. This goal is reflected in its operational plan. There are four key factors that influence Wal-Mart's operational plan and they are the customer, finance, the processes, and adaptability. The customer is the driving force at Wal-Mart. As its goal states, the customer is the primary importance to the company above all other things. Finance is also very important. In order to provide low cost quality items, Wal-Mart must keep its overhead low and ensure that it really does pay less for items to be sold. Wal-Mart has many different processes which help it attain its goals. Whether it be the process of motivating its employees or the process used to collect data on market trends. Finally, Wal-Mart's operational plan is adaptable. It must be in order to adapt to changes in the market, customer likes and dislikes, or changes in financial status for the company.
III. Strengths and Weaknesses Organizations such as Wal-Mart pursue competitive advantage through low-cost strategies. Their large size allows them to sell their products and services at a lower
I. Introduction Operational planning is setting up procedures and processes at the lower level of the company in order to meet the overall goal of the company. There are different factors for each company that affects the operational plan and how it is laid out. The operational plan can also greatly influence the success of a company. There is a direct correlation between the operational plan and a company's strengths and weaknesses. The operational plan must also take into consideration the various opportunities open to the company as well as current trends and threats in the market. All of these factors are very apparent in the way Wal-Mart has set up its operational plan.
II. Factors that Influence Operational Planning There are many factors that go into the day to day operational planning at Wal-Mart. Wal-Mart's goal is to provide quality goods at low prices to its customers. This goal is reflected in its operational plan. There are four key factors that influence Wal-Mart's operational plan and they are the customer, finance, the processes, and adaptability. The customer is the driving force at Wal-Mart. As its goal states, the customer is the primary importance to the company above all other things. Finance is also very important. In order to provide low cost quality items, Wal-Mart must keep its overhead low and ensure that it really does pay less for items to be sold. Wal-Mart has many different processes which help it attain its goals. Whether it be the process of motivating its employees or the process used to collect data on market trends. Finally, Wal-Mart's operational plan is adaptable. It must be in order to adapt to changes in the market, customer likes and dislikes, or changes in financial status for the company.
III. Strengths and Weaknesses Organizations such as Wal-Mart pursue competitive advantage through low-cost strategies. Their large size allows them to sell their products and services at a lower
References: T.S. Bateman & S.A. Snell. (2004). Management: The New Competitive Landscape (6th ed.). McGraw-Hill/Irwin. New York, NY. Wal-Mart and GE Consumer Finance Plan to Issue a New Credit Card By Discover. 2005. Retrieved on January 21, 2005 from http://www.walmartstores.com/wmstore/wmstores/Mainnews.jsp?BV_SessionID=@@@@0416297765.1106457350@@@@&BV_EngineID=cccgadcmjgijhdmcfkfcfkjdgoodglh.0&pagetype=news&template=NewsArticle.jsp&categoryOID=-8300&contentOID=14432&catID=-8248&prevPage=NewsShelf.jsp&year=2005