Walmart’s Stakeholders: Analysis & Recommendations - Panmore Institute (2024)

FAQs

What are some recommendations for Walmart? ›

Suppliers, customers, competitors, governments, and local community are the main external stakeholders of Walmart. There are thousands of suppliers working for the company globally. Without them, trading will be almost impossible. Therefore, regular communications and support for them is vital for Walmart.

In his proposed model, there are 12 main stakeholders in retailing: customers, suppliers, competitors, government, financial community, service providers, employees, managers, landlords, owners, community and activists.

A stakeholder analysis is a process of identifying these people before the project begins; grouping them according to their levels of participation, interest, and influence in the project; and determining how best to involve and communicate each of these stakeholder groups throughout.

A stakeholder is a party that has an interest in a company and can either affect or be affected by the business. The primary stakeholders in a typical corporation are its investors, employees, customers, and suppliers.

What is Walmart's Swot Analysis In 2022? Walmart's SWOT analysis identifies the company's strengths in its strategic and efficient business model. The analysis also reveals Walmart's weaknesses in maintaining thin profit margins, often culminating in low employee wages.

Walmart boasts over 11,700 stores and serves about 270 million customers. Its business strategy is mainly based on “being competitive in terms of assortment, differentiating with the way people access, leading in terms of price, and delivering an incredible experience with the motto of EDLP (Every Day Low Prices).”

The three initiatives are: Save Money, Live Better. Win, Play, Show. Fast, Friendly, Clean.

Walmart has a hierarchical functional organizational structure. This structure has two features: hierarchy and function-based definition. The hierarchy feature pertains to the vertical lines of command and authority throughout the organizational structure.

The Mission Statement and Purpose of Walmart

Walmart's current mission statement and its advertising slogan, which are prevalent at the company's headquarters in Bentonville, Arkansas—the place where it all began—are the same: "Save people money so they can live better."

What is Walmart CSR? ›

Walmart CSR strategy rely on the following three principles[1]: Creating economic opportunity for our employees, suppliers and people who work in retail and retail supply chains beyond Walmart. Enhancing the sustainability of operations and product supply chains for people and the planet.

The easy way to remember these four categories of stakeholders is by the acronym UPIG: users, providers, influencers, governance.

Whatever approach is used, there are three essential steps in stakeholder analysis: 1) Identifying the key stakeholders and their interests (positive or negative) in the project; 2) Assessing the influence of, importance of, and level of impact upon each stakeholder; and 3) Identifying how best to engage stakeholders.

The stakeholder analysis (Excel) tool developed in STAR2Cs helps to identify the stakeholders that are important for a given project and to define for each of them an appropriate level of participation (inform, consult, advise, co-create, co-decide).

A stakeholder's primary role is to help a company meet its strategic objectives by contributing their experience and perspective to a project. They can also provide necessary materials and resources.

Why Are Stakeholders Important? To sum it up - without stakeholders there would be no projects. Engaging project stakeholders can bring many benefits to the project. They can get involved in the decision-making process and influence the organisation's actions in a way that is helpful to the project management team.

A stakeholder can be a wide variety of people impacted or invested in the project. For example, a stakeholder can be the owner or even the shareholder. But stakeholders can also be the employees, bondholders, customers, suppliers and vendors, too. A shareholder can be a stakeholder.

What are Walmart's biggest weaknesses? ›

Walmart encounters several problems that include stiff competition, negative reputation, constraints in business acquisitions and joint ventures, and stringent cultural values in foreign markets (Kneer 25). There is stiff competition from other retail stores that have adapted a low-price strategy.

Low Prices

Walmart's “Every Day Low Price”, strategy of providing good quality products at lower rates has been a major competitive advantage over other retailers since decades. This was made possible by coming up with efficient and smart cost structures that enabled low prices for everyone.

It is a publicly-traded family-owned business. The Walton family owns the company. It was the largest U.S. grocery retailer in 2019. The business model of Walmart primarily revolves around brick-and-mortar retail, however; it is gaining momentum in e-commerce as well.

We build customer loyalty and trust by offering great merchandise at Every Day Low Prices. Our model is simple: We take costs out of our business and pass the savings along to customers. We call it the “productivity loop.” By operating for less, we can lower our prices.

Ten years ago, Walmart set out three aspirational goals tied to sustainability: create zero waste, operate with 100 percent renewable energy; and sell products that sustain our resources and the environment.

Walmart's supply chain management strategy has provided the company with several sustainable competitive advantages, including lower product costs, reduced inventory carrying costs, improved in-store variety and selection, and highly competitive pricing for the consumer.

What is Walmart's company culture? ›

At Walmart, every associate is expected to practice behaviors consistent with four core values - "Service to the Customer", "Respect for the Individual", "Strive for Excellence" and "Act with Integrity" which trace back to the start of Walmart and are consistent around the world.

Sam Walton founded a values-driven company that today is grounded in four core values: respect, service, excellence, and integrity. These values are timeless. When our behaviors are aligned to those four values, we'll build trust, create the right environment for our teams, and generate success.

The Walmart slogan of 'Save Money. Live Better' has been used by the company since 2007 and represents its desire to help customers save money. All the Walmart slogans and logos often represent the retailer's values of providing low prices, which continues to help it succeed as a leading retailer.

Walmart Inc.'s corporate mission is “to save people money so they can live better.” This statement reflects the ideals of the company's founder, Sam Walton. Strategic decisions in the business are a direct manifestation of this mission statement, which is synonymous to the company's slogan, “Save money.

The company is also working to implement worker safety programs at facilities worldwide, including a 24-hour confidential helpline to keep all of those who work under the Walmart umbrella safe from harm. Within the US, Walmart and Sam's Clubs are carrying out responsible sourcing initiatives via the domestic market.

Our commitment to integrity is reflected in our actions. From ensuring the food and products we sell are safe; to using technology and data ethically and responsibly; to investigating concerns raised by our customers, associates, and stakeholders. Our commitments are embedded into every action we take.

Going Green

In 2017, Walmart announced Project Gigaton, an ongoing effort with the aim of avoiding one billion metric tons (a gigaton) of greenhouse gases across its global value chain by 2030. Hundreds of the firm's suppliers have committed to reducing their carbon output as part of the initiative.

Research reveals the most important stakeholder group of organizations are employees – who come ahead of customers, suppliers, community groups, and especially far ahead of shareholders.

What are stakeholders needs? ›

Stakeholder needs and requirementsStakeholder needs and requirements represent the views of those at the business or enterprise operations level—that is, of users, acquirers, customers, and other stakeholders as they relate to the problem (or opportunity), as a set of requirements for a solution that can provide the ...

For example, the following are normally considered primary stakeholder groups: customers suppliers employees shareholders and/or investors the community. Secondary stakeholders are those who may affect relationships with primary stakeholders.

First, identify who your stakeholders are. Next, work out their power, influence and interest, so that you know who you should focus on. Finally, develop a good understanding of the most important stakeholders, so that you know how they are likely to respond, and how you can win their support.

Stakeholders can be classified based on their influence on the project or the project team. This method of classification includes: Upward: Senior management, sponsor, steering committee. Downward: Project team members and experts working on the project.

Attracting and Retaining Employees

Treating employees as valued assets, promoting a nondiscriminatory work environment and actively involving employees in important decisions are examples of how these stakeholder influence a business, according to job and career website Indeed.com.