Business Strategy and Public Relations
Another issue being debated and discussed is the concern of the local residents, as well as the governments, that the existence of Wal-Mart in their areas will congest their roads due to the increase of traffic. One of this example can be seen on the case of the local government of Inglewood, California. The government of Inglewood rejected the application of Wal-Mart to build a store in their place due to the potential problem stated above. Analysis
For a company which is big and successful as Wal-Mart, it is already expected that one of the main challenges that it has to face and continue to address is the stiff competition being presented by its rivals in the industry. We cannot say that Wal-Mart is new to this problem. It is of course given that before the company has reached the zenith of its industrial success that it has able to weather and overcome the stiff, cutthroat rivalry that is in existence in the industry of retail industry in the United States, and even internationally.
Since competition is a common issue that the company has to face, and even if it has able to amass considerable revenue and profit during the past several years in its local and international operations, the retailer firm ought to practice caution and wise business strategies in its business schemes and dealings. The presence of heavyweight players in the field, like Carrefour and Home Depot, is something that the company should not ignore. But instead should pay attention to and adjust its business strategies according to the moves of such named retailer rivals.
There is no escaping the fact that the existence of competition in the industry will be there as long as there is a demand and lucrative potential to gain profit and revenue. This Wal-Mart has accept and address everyday, every week, every month and every year so as to remain the dominant player in the industry. Meanwhile, the company of Wal-Mart is suffering from a bad press basing on several cases when the local residents and governments denied the company to put up a store in their places.
For the company like Wal-Mart to expand and sustain the growth that it has been experiencing for the last several decades since it first operated, the firm needs to expand. But how can it expand locally when it is suffering from bad press. This issue on the first sight may seem harmless, but for a company as big and successful as Wal-Mart, this negative press from the local residents and governments is something of a big problem. Wal-Mart management should understand that these very people are its public and any negative impression or reaction from them towards the company is considered a big, huge problem of public relations.
And this issue must be addressed as soon as possible before the image of Wal-Mart is compromised without a way out. Alternatives Business Strategy and Public Relations There are a countless cases wherein a company troubled by stiff competition and weakened by bad image from the press is salvaged from sure and inevitable downward bankruptcy by the mere intelligent use of deft business strategy and good public relation campaign. Right now, there are new initiatives that can be done by the organization of Wal-Mart Store.
First it can create a policy wherein there will be a focus on diversity issues in hiring new employees for the company. This business strategy, emphasizing that diversity does not just happen accidentally and by mere blabber of the mouth, is enough for the company to earn positive points from the eyes of the local residents. This policy should be reinforced with the right “systems, processes and leadership” so as to make it work (“Diversity, n. d. ). If the company can do this then we can say that the company is on the right path.