Employing Strategy in a Competitive Environment Research Paper - 1

Employing Strategy in a Competitive Environment - Research Paper Example It is important for the organization to review all the employment policies and do necessary changes to maintain its good brand reputation. Economical Growth of US economy got affected due to recent financial crisis and economic recession. Recently, people are trying to consume low priced quality products. In addition to this, competitive pricing strategy of several local and international competitors is affecting the market share growth of Walmart (Lamb, Hair & McDaniel, 2008). It will be effective if the organization tries to introduce economically priced differentiated products by reducing its business operation cost. Social The organization terminated employees during and after the financial crisis and recession. Although it is considered as the leading employer within the country, but this strategy affected its brand image. They need to focus on employee specific strategies and business practices in order to get support from government and stakeholders. Technological Technologica l development of US motivated Walmart to implement advanced technology in business operation process. This adoption of advanced technology is resulting in job loss of employees. It is creating a negative image and perception. The organization should use both manual and automatic process in business organization. A technological process or machine cannot run without effective knowledge of employees. Environmental Recently the organization faced several environmental issues regarding cutting of trees in order to produce and distribute wooden furniture to the target customers. Walmart should follow each and every environmental policy developed by government and should use substitute resources of wood in furniture manufacturing process. It would not hamper the market share as demand of customers is ever rising. Strength and Weaknesses This part of the report will evaluate the organization’s strengths and weaknesses based on above environmental scan. Strengths Walmart is the large st employer in US. The organization gets huge political support from the government as it helps to minimize the unemployment rate of the country. In addition to this, adoption and implementation of advanced technology in business process is helping the organization to meet customer satisfaction and current market demand. Differentiated product line is helping the organization to achieve phenomenal market share growth (Draft, 2009). Continuation of these strategies and business practices will help organization to reduce business operation time and develop a potential client base that can be considered as major competitive advantages. Weaknesses Lack of sustainability in business operation, failing to follow environmental policies, job loss during the economic slowdown and critical workplace conflicts are considered as major weaknesses of Walmart (Pride & Ferrell, 2004). The organization needs to reform and modify their business operation strategies to mitigate business associated ris ks and challenges. Competitors K-Mart is one of the major and leading competitors of Walmart in US market. K-Mart also operates within the same industry with similar kind of business model. This retail chain offers differentiated products in competitive price to increase the number of target customers and market share. But Walmart has effectively introduced several unique strategies that helped them to achieve potential competitive advan