University of PhoenixThis paper will identify the strategies of three companies that have demonstrated strategic processes that are similar to Wal-Mart. The topics address in this paper will consist of the issues of different strategies utilized by those companies will be addressed, and the outcomes. Based on the various strategies the paper will explain how Wal-Mart could implement them to address the issues identified.
General Electric-Supply Chain ManagementGeneral Electric (GE) is headquartered in Fairfield, Connecticut. The company is widely spread over 100 countries and has a workforce of more than 300,000 employees worldwide. GE has a diversified technology - six businesses are all aligned - reflecting the company's capability to deliver and achieve excellent results (GE, 2008). The accomplishment of GE's businesses is reflected in the expansive line of products and services the company offers which span many industries and customers worldwide.
GE partners with its suppliers to create value and competitive advantage.
As part of its supply chain management strategies, GE uses the partnerships to ensure timeliness and quality from the suppliers. GE also relies on the experiences of the suppliers when designing new product and delivering services to the supplier as well. The strategic process that the company uses includes integration with the suppliers, financial support, and training (GE, 2008). In structuring this GE has found an ideal way to keep costs low and quality high. This is a key benefit to the managers and the suppliers of the company especially for the company's future success.
In order to understand the way the strategic management process operates, one has to know the definition of the term. Strategic management is defined as a process with the flow of information. In the strategic management process, the flow of information involves historical, current, and forecast data on the operations...