WalMart for a Strategic Management and Business Policy

Wal-Mart has existence over all the customer supplies industries that endure in the US, for the reason that it is the number-one supplier-retailer of the majority of our customer goods, not still toys, clothes, shoes but home applications, electronic goods, sporting products, food, bicycles, groceries (Anderson, 2003).
Business strategy: By viewing the universal compaction and such a huge working structure of Wal-Mart, I will suggest that they need to adopt a low-cost leadership theme for Wal-Mart. The reason behind this business strategy selection is that: in the present era, we are facing a very hard competition from a lot of competitors and the low prices Business strategy is the only solid and more attractive strategy in present environment (McCune, 1994).
How this business strategy will facilitate and help Wal-Mart in becoming a well-established business? By this business strategy, they can emphasize on selling high-quality. Wal-Mart low price philosophy will cut advertising expenses and reduce other expenses. It will create an image of reliability and fair play in the minds of clients. This Business strategy will become a defense against competition in the industry.
Next, I will present the program and the main decision that they should take for the successful implementation of the strategy. They should develop a mechanism by which management controls the processes for directing, development, scheming, organizing, and controlling program operations. They should create a financial control that comprises the comparison of what they have really accomplished with what they have premeditated in their budget and as such it is individual business task amongst a lot of and encompasses but one facet of the wider practice of management control (Thompson et al, 1995). Let have a look at procedures and stages for corporate development by this business policy, here I will present these procedures in the form of steps, by following these steps they can achieve better implementation.