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how can Wal-Mart earn above average returns using the industrial organization model and the resource based model
I think weegy research or pro would work better for this type of question.
Expert answered|OxTornado007|Points 5948|
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Asked 10/20/2012 5:27:57 PM
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how globalization and technology changes have impacted walmart
Weegy: Globalization and technology changes have impacted walmart A key component of Wal-Mart’s strength is its dominance over suppliers. [ This reverses the historical dependence of retailers upon manufacturers. Wal-Mart is a monopsony in relation to the supply chain — that is, it is the overwhelmingly dominant market for the manufacturers’ products (for many, it is the only retail outlet). It shapes the structure and location of manufacturers, forcing them into the same low-wage, low-cost system as the retailer. It dominates supplier production and logistics. The sweatshop empires of Nike and some of the clothing companies are miniscule compared to Wal-Mart. Manufacturers have become dependent upon Wal-Mart’s ability to market their goods — and must respond to Wal-Mart’s requirements. Wal-Mart stores are the biggest marketing channel for consumer products in the world and the 20 million customers who shop there on an average day represent a bigger market than could be reached by traditional mass media advertising. Wal-Mart demands low prices, a “pull” (production of goods in response to a closely monitored system that predicts the likely customer demand) and “just-in-time” delivery of goods. Suppliers must make their production and delivery system “transparent” (which Wal-Mart is able to force on them through the use of electronic forms of data and inventory control). Wal-Mart sets up its own distribution apparatus as well, replacing wholesalers. Wal-Mart tells suppliers how and where to produce their goods. They are forced to locate overseas, seeking sweatshop labour to meet Wal-Mart cost and delivery requirements. This, in turn, also creates new logistics and transportation systems. It’s no accident that today Wal-Mart imports more goods from China than either the United Kingdom or Russia. This has both contributed to and resulted from a new spatial division of labour: ‘developed’ countries lose manufacturing, but the role of low-wage retailing and ... (More)
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Asked 10/20/2012 4:59:38 PM
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how can Wal-Mart earn above average returns using the industrial organization model and the resource mofel
Weegy: Hello, We need to formulate and implement strategies that lead to competitive advantage. [ Thus, the strategic management process is used to match the conditions of an ever-changing market and competitive structure with a fi rm’s continuously evolving resources, capabilities, and competencies. Strategic leaders guide the strategy-creation process, help the organization acquire and develop needed resources, manage relationships with key organizational stakeholders, and develop adequate organizational controls to ensure that the process is successful in leading to desired firm outcomes. The strategic management process is the full set of commitments, decisions, and actions required for a firm to achieve strategic competitiveness and earn above-average returns. The firm’s first step in the process is to analyze its external and internal environments to determine its resources, capabilities, and core competencies— the sources of its “strategic inputs.” With this information, the firm develops its vision and mission and formulates its strategy. To implement this strategy, the firm takes actions toward achieving strategic competitiveness and above-average returns. Effective strategic actions that take place in the context of carefully integrated strategy formulation and implementation actions result in desired strategic outcomes. It is a dynamic process, as ever-changing markets and competitive structures are coordinated with a firm’s continuously evolving strategic inputs. ] (More)
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Asked 10/20/2012 5:32:06 PM
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