Performance Management : Walmart 's Philosophy

Q1. The growth of Internet and computer technologies have created new opportunities to better serve the corporations and consumers. Describe 3 new technologies that have changed the ways people communicate or the ways companies conduct their business.

In this paper, I will discuss the company Wal-Mart, which is a worldwide known retailer. I will particularly address two chapters. The first part of the paper will describe the way Wal-Mart’s employees are rewarded and recognized for their work. The second part will discuss the much controverted: labour relations and collective bargaining. First, I start by covering a bit of the history of the company as well as some important dates. Throughout its history, it is possible to see how fast the company grew in terms of stores, employees, and

Walmart is known throughout the entire world as one of the most popular chain department stores. Actually, most have probably visited a Walmart store in the past week. Though Walmart stores seem to be a normal part of life the average person more than likely has little knowledge that pertains to Walmart’s success and business culture. This paper will guide one through the history of the organization, why Walmart is successful, what could threaten or open new opportunities, and how might they hold a competitive advantage.

The employee should know where he/she stands in obtaining performance goals. Thus, providing feedback is an integral part of the task. The feedback should be delivered to the employee to motivate the employee but also help him/her identify any weakness in his/her performance and to help contribute to growth. The employee should leave the appraisal with knowledge of what he/she specifically needs to improve on

Recognition and positive feedback will help build the employee’s confidence and has a significant impact in maintaining good performance in the future. The employee is likely to be more committed and will serve as a positive influence to other employees.

Whether a leader defines success as career progression, sphere of influence, or the continual improvement of their management skills, there is one singular fact that all leaders must grasp in order to be effective and impactful: they have to become great providers and receivers of feedback. To grow in one?s ability to give and receive feedback, one ought to begin with learning to receive feedback well by recognizing

In business, three major strategies comprising of cost leadership, differentiation, and focus strategies exist. The focus strategy emphasizes on providing services and products to a specified buyer group or market segment within a given geographic market. The differentiation approach is often defined as provision of services or products that are perceived to be unique in the market place. Wal-Mart emphasizes on the long-term strategy of cost leadership. Through this strategy, the company ensures that it offers customers with quality products at relatively lower prices than other providers in the industry. Through overall cost leadership strategy, Wal-Mart has been offering better quality products at a lower price than any competitor can offer. For the organization to achieve this goal, it has developed long-term supply chain management, which ensures that products are made available to the market at the required time (Enz, 2010).

As a leader continues to encourage a behavior in a positive way, the employee will experience the consequence of a positive reinforcement in an immediate manner. The positive encouragement will also have a high importance on the employee thus causing the behavior to likely continue. Feedback and coaching will be a supportive player in this step. “They are the most underutilized levers for engaging people’s hearts and minds, and tapping their discretionary performance” (Bracksick, 2007). Braksick points out the problem of employee performance reviews and how one time a year in one power session is hardly enough to make a powerful

As a small electronics retailer competing against Walmart, I would clarify my target customers, streamline the number of products I sell, and expand the types of services I provide my target customers. To begin with, I would conduct a Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis to ensure I have made a complete, thorough, and objective assessment of my business and the competitive landscape (Parnell, 2008). Secondly, I would identify, review, and analyze my sales history, existing client list, and subscribe to a reasonably priced, Customer Relationship Management (CRM) service that would assist in analyzing my past, current, and potential customer base (Solomon, Marshall & Stuart, 2012). Lastly, after reviewing the CRM

As illustrated in its mission statement of "We save people money, so they can live better" (Furtwengler, 2009, p. 20), Walmart is aggressive in trying to offer products at competitive prices to foster loyalty and business from its customers, and in order to provide revenue to its shareholders. Walmart has many inside stakeholders, which includes its executive officers, board of directors, stockholders, and over 2.2 million employees worldwide (Walmart Corporate, n.d.). Outside Stakeholders for Walmart Stores Inc. includes its customers first and foremost, suppliers, local governments, and the communities in which it operates.

Different feedback strategys have been used as efficent tools in the promotion of progress and improvement in the professional world (Baker, A. Perrault D. Alain, R., 2013). De Janasz et al. (2014) explains some positive outcomes that result from shariying, asking and getting feedback from others in within a workplace; such as improving and reforcing employee relationships, enforcing a gainnful comunication, promoting teamwork, and increasing the performance of employees. Specificly De Janasz et al. (2014) develops the idea that providing constructive feedback, sustained by strong interpersonal communication skills, enables the individual recognize their strengths and wiknesses in a clear and non risky way, in order to look for the most accurate plan to improve, and obtain significant and necessary behavioral changes. Everyday Feedback as part of an organization strategy help employees feel confident about their possition and process inside the company, and promotes a clear path to achieve personal and organizational goals (Baker, A. Perrault D. Alain, R. (2013); citado en Levy and williams,

While researching this topic, so many things were found to be eye opening. One in which is the way that Wal-Mart conducted themselves when they had to manage their employees. How they dealt with promoting them and demoting them. Last year Wal-Mart started a new management style and wanted to promote more family time and create a less workload on each of the managers and employees. Therefore, they changed the schedule to becoming 3 days on and 3 days off which created more room for managers to fall into the field. Managers would be thrown into the position of an area of the store they knew nothing about and expected to understand each thing and help customers find exactly what they

There are so many organizational behavior concepts to take into consideration for the success or failure of any organization, business or company. The way these concepts are handled by management and employees will either keep the business open or these same concepts could end up in closure of this same business or organization. Management and employees are the people who will make the "win or lose" situation occur. Communication, motivation, and power and politics are some of the concepts that will cause a business to succeed or fail. Businesses must be competitive to stay alive, or these same businesses will

In an article from the U.S. Office of Personnel Management [OPM] (n.d.) it stated that “without feedback, you 're walking blind, at best, you 'll accidentally reach your goal, and at worst, you will wander aimlessly through the dark, never reaching your destination.” Feedback is a critical element in a managers “toolbox” when evaluating employees. It gives an employee a view of how good or bad their previous performance was and what or if they need to improve in their performance. It also reduces

Companies Performance Management system need to concentrate on the overall improvement the way the company performs. They achieve this by managing the performances of all personnel within the company no matter who they may be. This can be attained by ensuring that everyone within the company truly understands what the overall mission and goals that have been set for them within the company. Performance Management system has a very distinct way that it can manage the performance of the entire company and as long as everyone understands the goals that the company sets forth than the company as a whole will meet those goals. The developmental objective is fulfilled by defining the training requirements of the employees based on the results of the reviews and diagnosis of the individual and organizational competencies. (MSG)