Assignment: Foundations of Strategic Planning
To prepare for this Assignment, consider the need for and importance of strategic planning in an organization. Further, consider any potential ramifications of strategic planning, including both minor and major organizational changes. Be sure to consider your experience as a business practitioner and independent scholar in developing your perspective.
Submit a 3- to 5-page evaluation of the benefits and challenges of implementing strategic planning within an organization. Your evaluation should include the following:
· What are the steps of the strategic planning cycle? Be sure to include a condensed description of the value of each step to a professional organization.
· What are the long-term business benefits of strategic planning?
· What are the unique hurdles that companies need to be aware of when implementing the foundations of strategic planning? Explain with specific examples from scholarly sources.
· Based on your research and/or personal experience, would there ever be a reason why an organization would benefit from not utilizing strategic planning? Provide a rationale for your answer with specific examples from scholarly sources.
Note: Be sure to use the APA Course Paper Template (6th ed.), found in this week's Learning
Resources, to complete this Assignment. Also, refer to the Week 1 Assignment Rubric for specific grading elements and criteria. Your Instructor will use this rubric to assess your work. Please Note: For each page of your paper, you must include a minimum of two APA-formatted scholarly citations
Discussion Question: Strategic Planning for Walmart (480 Words)
To prepare for this Discussion, review "Case 01: Walmart Stores" on pages C-2 to C-11 in Dyer, Godfrey, Jensen, and Bryce (2016) and consider the fundamental principles of strategic planning. Be sure to consider strategies for leveraging competitive advantage within a crowded industry.
Post an analysis of the role of strategic planning in establishing competitive advantage. Your analysis should include the following:
· An assessment of the phase of the strategic planning cycle that might be the most useful for Walmart's competitive advantage
· An explanation of competitive differentiation as it relates to Walmart and similar retailers like Target and Dollar Tree. Be sure to address how Walmart's choice of market focus contributes to its competitive advantage.
· An assessment of Walmart's value proposition, including why customers choose Walmart and whether advertised low prices are accurate
Be sure to support your work with a minimum of two specific citations from this week's Learning Resources and at least one additional scholarly source.