In Customer Intimacy and Other Value Disciplines, Treacy and Wiersema
highlight three distinct “paths” or strategies to market leadership.
They include operational excellence, customer intimacy, and product
leadership. This paper will highlight how Wal-Mart has successfully
implemented the operational excellence strategy, as well as consider
future initiatives within this strategy that Wal-Mart can still
incorporate. The discussion will than focus on the customer intimacy
strategy and explain how Wal-mart has also incorporated this strategy
in a variety of its operations. The product leadership strategy will
also be briefly discussed, however, due to its limited scope in this
particular environment, it will not be emphasized.
Wal-Mart has effectively implemented an operational excellence
strategy in its quest to continually lower costs and deliver products
and services with minimal difficulty or inconvenience. Whether it be
through reducing costs, through its various relationships and
practices with suppliers or controlling energy consumption by
monitoring and controlling lights, heat, A/C, etc from their head
office or even managing inventory efficiently, Wal-Mart has
effectively minimized both variable and fixed costs while also
ensuring stock outs are minimized. Wal-Mart has also effectively
eliminated (non-value) added production steps as it successfully
re-defined the integrated retailers relationships with its
manufacturers. Wal-Mart has also been successful in implementing a
variety of IT systems that have also facilitated this strategy.
Whether it’s through their own...
... middle of paper ...
... other employees? The skill level
of employees would also dictate, what services could be offered at the
various branches, which leads into what financial services entails.
Does financial services simply mean a financial institution where you
can have a savings, chequing or credit card accounts and have other
services such as payroll cheque cashing, money orders, etc. or would
this encompass investment accounts, etc. in which employees would have
to be very thoroughly trained and certified. Due to the limitations
of the later, financial services would be deemed as the first
description. Although, on examining the Wal-Mart website’s financial
services page, it only offered credit cards, which is interesting.
Was this the intended expansion strategy, or did other factors impede
further product or service expansion?
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