Order 1200335: Business Planning Part V

Walmart.Week4 xRelevanceDiagram VRIOFramework
 

• Type of paperOther
• SubjectEnglish
• Number of pages3
• Format of citationAPA
• Number of cited resources4
• Type of serviceWriting

Revise supplements of the transformational plan from Week 4 Document (attached): -Briefly summarize the organization, the level of analysis, and the position you hold. -Briefly describe one driver of organizational transformation that can be undertaken at your position within the organization. Continue to develop your transformational plan: –Define continuous improvement and sustainability in the context of your transformation plan. –Use the VRIO framework (attached) to identify and support the organizational attributes which contribute to competitive advantage and support your transformation plan. –Use the concepts of decision, uncertainty, calculation, and value (attached-Relevance Diagram) to identify and support the primary factors affecting your transformation plan. –Identify and support which of the eight activities for successful mobilization (Holbeche, 2015) must be included in your plan. NOTE: Include in text citations

Walmart Company is one of the favorite multinational organizations in the United States operating retail supermarkets and stores. It has branches in more than fifty states and its headquarters at Arkansas and Bentonville. The Corporate was founded in 1962 by Sam Walton (Chan, 2017). To increase the profitability and market domination analysis was conducted innovation recommendation given. The proposal involves vertical integration and digital diversification. Being the retail manager in one of the stores I believe I have a role to play in achieving the objectives.

To attain the proposed aims, proper organizational drivers of transformation must be applied. The drivers are the highest level measures in a business process linked to strategic corporate goals. For instance to meet the goals of the Walmart Inc. as manager leadership is a crucial driver to consider. Leadership ensures that workers are supported and enthused to work on the innovation and to be active team players (Reibstein & Shankar, 2010). The responsibilities in transformational leadership include offering the purpose and vision, stimulating based on the exciting idea which involves setting up of milk processing companies, setting high standards, and positive reinforcement.

To support Walmart transformation plan, all stakeholders have a role to play. As a manager, the main activities include the involvement of external and internal stakeholders who are essential for enhancing the transformation plan. This includes working along with innovation manager and establishing communication mediums which involves the customers concerning the innovation. Another vital activity is to work together with my juniors to achieve transformation targets.

On the other hand cooperative, in general, has some activities to put in place to support the transformation. The main action is to exercise vertical integration. Walmart Inc., in this case, must articulate the supply chain process, set up more processing companies. This is intended to minimize the cost of supply hence, increasing the profits. Setting more malls also will support the transformation plan (Reibstein & Shankar, 2010). Another primary activity the company to consider is to adopt digital diversification. Technology improves efficiency and relationship between the customers. Digital diversification will enable the retailer to provide suitable cloud computing solution compared to those offered by tech giants.

An innovation strategy helps any company to grow its profits and market share through service and market innovation. The best innovation plan for Walmart to increase its incomes and market share is to embrace good leadership, digital diversification, and vertical integration. Good leadership plays a vital role in how innovation occurs in a company. Innovation leadership trickles the employees and the employers. Walmart management contributes a lot in maximizing the profits (“Innovation Strategy Coordination,). Motivating the workers increases their productivity. Implementing technologies that reach out customers also is a good strategy for transformation. Another essential approach is the set-up of the dairy and milk processing plant to cut the supply expenses and eventually increase profitability.

Having the transformational plan and innovation strategies in place the next step was to develop the plan. The activities in this phase included confirming the scope and interactions map of the innovations and processes to be renewed, identifying the technology required and finally developing the business case for change (Reibstein & Shankar, 2010). After this phase, innovation metrics were determined.

Innovation metrics are methods for determining the innovation efforts of an institution. It is not easy to measure innovation since is hard to separate it from business-as-usual activities for example improvement (Toomey, 2018). In our case here we use metrics that measured early stages of innovation. They included;

· Cost improvement Rate- our innovation was to reduce the supply cost which was evident after an early stage of the plan. Low cost per milk packet is a valuable competitive advantage.

· Growth Gap- the revenue growth was a notable hence positive impact of the transformational plan.

· Time to volume- the average cycle time was relatively understandable and minimal.

According to the techniques applied to measure the success of the innovations, it is evident that it was effective. The transformational plan leads to a significant increase in profit and domination of the market share. In conclusion, innovation is the main catalyst for organizational transformation. Statistics show that unsuccessful innovations fail our organizational transformation efforts (Toomey, 2018,). Walmart Inc. innovation has set the company becoming a Next Generation Organization.