BMGT 152 Principles of Management : Theory Considered by Wal-Mart
Choose and support a management theory that is used by Walmart
Describe the company’s Corporate Culture using concepts from textbook
Conduct a PESTLE Analysis
Identify the type of structure the Company uses and why does it work
Answer:
Introduction
Wal-Mart is considered as one of the biggest retail company. It can be stated that the company provides a broad range of products with the low pricing strategy in its retail stores. The company also provides its merchandise by considering the e- commerce websites like walmart.com. So, in this paper the discussion will be made on the management theory, corporate culture, and Pestle analysis and also on the overall company structure.
Management theory considered by Wal-Mart
It can be stated that Wal-Mart takes into consideration the human relation theory. This is one of the theories which are considered so that it can be easy to accomplish goals and objectives in an effective manner. In human relation theory it can be seen that the focus is given on the individual attention and also on the recognition aligning with the
human relations. In this theory the factor related to motivation is also given to the employees so that they can give their best to accomplish the desired goals and objectives. In this it can be seen that Wal-Mart focuses on the enhancing the motivation of the employees so that they can give their best towards the organizational goals and objectives. By considering this theory it can be simple for the employees to enhance the productivity of the employees and it can help the company to attain positive outcome in the workplace. Human relation theory focuses on the maintaining the social needs by rewarding the employees in the workplace. By giving rewards the confidence level of the employees boost and also it can be easy to achieve positive outcome (Leuprecht & Sokolsky, 2015).
Also, one of the management theories which are considered by the company is related to the administrative theory which is given by the Henry Fayol. In this the managers consider the scientific approach to manage the work and also it emphasizes on enhancing the overall productivity level by treating the workers like machines.
Corporate culture of Wal-Mart
The corporate culture of the company is related with proper planning. It can be seen that the top management of the company focuses on proper planning as it helps to maintain the activities in a proper manner. Through planning it can be easy for the organization to consider the right directions and also the management can give proper direction to the employees who are managing their routine activities in the workplace.
Also, through proper planning it can be easy for the managers to take right decisions which are beneficial for the company. This is one of the best methods which are considered by the company and it assists the company in fulfilling the overall demand of the employees.
The culture of the company emphasizes on giving services to the customers in a proper manner as it can help to enhance the overall image in the competitive market.
Wal-Mart also recognizes the overall contribution of the employees as it can assist in achieving the positive outcome. The company also strives for maintaining the overall performance of the individuals and teams. Also the main aim of the company is to promote the virtue of honesty and fairness. It can be stated that it is important for the employees to maintain integrity in the workplace so that it can be easy to maintain the competitive advantage.
In the workplace, it is important to focus on maintaining the communication and it is done by the company. The company focuses on proper flow of communication as it helps to resolve the conflict of the employees and also it shows proper direction to the employees in the workplace. The communication also considers proper internal and external factors as it can help to solve the issues and also it boost the confidence level of the employees in the workplace (Shafritz, Ott & Jang, 2015).
Pestle analysis of Wal-Mart
This is one of the important aspect through which it can be easy to manage the overall competitive advantage.
Political factor
It has been seen that Wal-Mart has to consider the political framework to manage the overall activities of the company. In 2013, it can be analyzed that the company has been engaged in convincing the workers to make the political contribution to the republicans that supports the pro-business conservations like Cruz and Boehner (Caraway, 2016).
Economic factors
It can be stated that the revenue and profits of the company has been impacting the overall range of the economic factors. Like the currency exchange rate between USD and also the other currencies is one of the important factor that has direct impact on the overall profits.
Also, the cost of labor is one of the essential factors which impact the company and also the revenue.
Social factor
It can be analyzed that company has the opportunity to consider the healthy lifestyle trend which can enhance the market share. Urban migration can also be the option which should be considered by the company (Spicer & Hyatt, 2017).
Technological factor
The company can enhance the overall investment in all the three aspects. The company has the opportunity to market its products and services with the help of social media or sites. Online marketing can also enhance the overall revenue of the company.
Environmental factor
To achieve the sustainability in the business activities, it is important for the company to improve the overall efficiency. Technological innovation can help in improving the overall efficiency of the business. The improvement in the policies and standards on the products which are sold in the retail stores can also be boosted by focusing on the ecological aspects.
Legal factor
Tax reforms can be considered as one of the potential threat that can lead to the increase in the tax rates. The company should focus on the food safety regulations as it can help in boosting the overall quality standards if the company. Also, boosting the human resource practices can helps in focusing on the regulations related to employment (Smith & Crawford, 2019).
Structure of Wal-Mart
The company considers the hierarchal functional organizational structure. This structure emphasizes on the two features which can be hierarchy and also function based. The Wal-Mart organizational structure is related to it as it can be seen that directives which come from the top management of the company are implemented by the middle managers down to the rank in the stores of the company. It has been analyzed that Wal-Mart has the department for the overall activities of the human resource management and also there is a department of the information technology and the separate department related to marketing (Geisler & Wickramasinghe, 2015).
The impact of the company on the hierarchical functional organizational structure is the overall responsibility of the corporate managers which influence the activities of the company. It can be seen that the new policies and strategies which are created by the company are directly passed to the regional officers down to the store managers. In this way it can be easy to monitor and control the overall hierarchical structure of the company. The low level of organizational structure cannot be adjusted in a proper manner as it is one of the lengthy communication and approval on the process also consider the middle managers and corporate managers of the company. This is one of the structures which are followed by the company and it helps to manage the overall activities of the company in the competitive market (Josefy, Kuban, Ireland & Hitt, 2015).
Conclusion:
So, it is concluded that company should focus on the strategies so that it can be easy to accomplish goals and objectives in the competitive market.
References:
Caraway, B. (2016). OUR Walmart: a case study of connective action. Information, Communication & Society, 19(7), 907-920.
Geisler, E., & Wickramasinghe, N. (2015). Principles of Knowledge Management: Theory, Practice, and Cases: Theory, Practice, and Cases. Routledge.
All things great and small: Organizational size, boundaries of the firm, and a changing environment. The Academy of Management Annals, 9(1), 715-802.
Leuprecht, C., & Sokolsky, J. J. (2015). Defense Policy “Walmart Style” Canadian Lessons in “not-so-grand” Grand Strategy. Armed Forces & Society, 41(3), 541-562.
Shafritz, J. M., Ott, J. S., & Jang, Y. S. (2015). Classics of organization theory. Cengage Learning.
Smith, N. C., & Crawford, R. J. (2019). Walmart: love, earth (A). In Managing Sustainable Business (pp. 247-271). Springer, Dordrecht.
Spicer, A., & Hyatt, D. (2017). Walmart’s emergent low-cost sustainable product strategy. California Management Review, 59(2), 116-141.
Buy BMGT 152 Principles of Management : Theory Considered by Wal-Mart Answers Online
Talk to our expert to get the help with BMGT 152 Principles of Management : Theory Considered by Wal-Mart Answers to complete your assessment on time and boost your grades now
The main aim/motive of the management assignment help services is to get connect with a greater number of students, and effectively help, and support them in getting completing their assignments the students also get find this a wonderful opportunity where they could effectively learn more about their topics, as the experts also have the best team members with them in which all the members effectively support each other to get complete their diploma assignments. They complete the assessments of the students in an appropriate manner and deliver them back to the students before the due date of the assignment so that the students could timely submit this, and can score higher marks. The experts of the assignment help services at urgenthomework.com are so much skilled, capable, talented, and experienced in their field of programming homework help writing assignments, so, for this, they can effectively write the best economics assignment help services.
