MGMT Term Paper Example | Topics and Well Written Essays - 1250 words

MGMT - Term Paper Example It is their management which is primarily responsible for the formulation of strategies, assigning goals, implementation of strategies, tracking the success of these by matching them to their predetermined goals. This is done in my forms however their strategic thrusts rely heavily on feedback which they receive. The most effective feedback is by the numbers which are generated by each store. These are then forwarded to the headquarters by the use of the vast digital network. In 2007 Wal-Mart was labeled one of the most competitive and innovative companies in the world (Plambeck, 2007). Their ability to be innovative is critical for them being able to achieve sustainability through measures that positively impact and reduce strain on the environment. This they do by three ambitious goals: incorporating as much of renewable energy as they can as part of their operations, minimizing the creation of waste and continuously striving to sell products which lead to sustaining their resources as well as the environment. As far as innovation is concerned an analysis of the activities and measures taken by Wal-Mart focus on incorporating a culture which aids the organization through making efficient use of a learning culture. This can be seen in the extensive measures taken by Wal-Mart to facilitate learning of the employees and introducing frequent training sessions. From the instance an employee starts working at Wal-Mart they undergo a extensive customer service training, they also undertake on the job training and ongoing formal training as far as responsibilities of the work are concerned. Analysis suggests that initially it was customer service and the ten foot rule applied to the workforce which served as driving forces for Wal-Mart’s innovative culture. Suggestions, feedback and communication with the employees were valued and some of their suggestions were even adopted