Walmart: Navigating a Changing Retail Landscape (2018) Case Study Solution
Walmart’s Objectives for Future
Walmart Inc. aimed at laying out sustainability vision to the company’s suppliers and employees. The company is finding ways to use more renewable energy, further reduce waste& sell products that would sustain people & environment.These objectives sounded easy in a way. Simply become more efficient, cut down on waste, and convince its legions of suppliers to manufacture sustainable goods. The efforts of the company to operate more efficiently would help its bottom line and produce significant environmental value. The leaders of the Walmart know the fact that the absence of credible sustainability standards would most likely hamper their capability to market new goods and generate profit returns. In addition to this, the company aims to double the global rate of improvement in energy efficiency, substantially reducing waste generation via reuse, recycling, reduction and prevention, and ensure that people have awareness and information for sustainable development.
Strong & Weak about Walmart’s Approach
Walmart Inc. has always been a pioneer and leader in anticipating market opportunities, thinking out of the box and executing effective strategies in order to capitalize on them. The company always capitalizes on the sustainability opportunity and uses business power to improve social and environmental concerns. The unprecedented success of the company is driven by enduring and strong commitment to offer high value services and products to its end customers. The focus on sustainability is an evolution of the value of Walmart. The aggressive sustainability strategy has been effectively implemented by company, and its rapid progress is mainly due to its excellence in strategy execution and strong management’s commitment towards offering high quality products to customers in sustainable and responsible manner. Certain actions, including raising public awareness, seeking regulatory change, as well as working with suppliers to develop sustainable goods;have resulted in strong brand image, competitive advantage, reduced cost, and increased productivity.They have improved the way Walmart operates its business.
The challenging aspect for the company are to maintain balance between sustainability and cost due to the reason that labeling a low cost product sustainable is challenging for the company to justify charging a high price for the same product bearing that label. The stain able practices are preferred by the customers yet they are unable to pay premium for the product. So, it is difficult for the company to create a mass market for the low priced sustainable goods. The cost is another weak of sustainable business practice, because it requires company to train its employees, invest in dedicated programs to uplift society and protect the environment.
Shared Value Creation Approaches for the Work of Controllers
The controllers in business have responsibility to design a budget that enhances the accuracy of the reported financial results of the company. So, for controllers’ shared value creation is to drive the productivity through better utilization of business resources, partners and employees, and save distribution cost through improving logistics and reducing the packaging. The shared value creation demonstrates an effective allocation of budget to create new operating procedures and policies to allow the company to seize the market and maximize the revenue. Adapting creating shared value (CSV) approaches allows the business to strengthen the local economies, create an educated and motivated pool of potential workers and enhance the public profile. The controllers are accountable to ensure that the business developsprofitable product and services that would meet the needs of customers, while improving the local communities, fulfilling social issues and reducing the negative impact on environment.
Conclusion
Walmart Corporation has established itself as the highest profitability firm due to its relentless efforts in providing the utmost and exceptional quality products to its customers. The company owns several department stores chains and has continually generated massive profit returns. Walmart has partnered with Feeding America to improve nutrition and quality of food in the charitable meal system, to increase the capacity of fresh goods, and to reduce the wastage of food in communities across the country. In 2005, the company committed to double the fleet efficiency and built strong partnership with General Electric to educate customers about the advantages of fluorescent bulbs, which reduced emission and consumed less energy. The company also supports transparency and measurement in its value chain and work with suppliers for the purpose of reducing packaging & product waste as well as helps in preserving the natural resources.The company aims to double the global rate of improvement in energy efficiency, substantially reducing the waste generation via reuse, recycling, reduction and prevention. The company is determined to ensure that people have awareness and information regarding sustainable development………….
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