19 Sep Write a 1000-1200 word paper that: Describes the results of your assessment of the labor market from which your selected organization draws candidates for open positions Explains the p

Labor Market

Write a 1000-1200 word paper that:

· Describes the results of your assessment of the labor market from which your selected organization draws candidates for open positions.

· Explains the population, demographics of the population, levels of education, and how much training may be required to prepare new workers drawn from this pool for positions in the firm.

· Use regional economic corporations, US Department of Labor and other sources to provide data.

In addition to the requirements above, your paper:

· Must be double-spaced and 12 point font

· Must be formatted according to APA style

· Must include an introductory paragraph with a thesis statement

· Must conclude with a restatement of the thesis and a conclusion paragraph

· Must reference a minimum of two recent scholarly resources

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Total Possible Score: 5.00

The Labor Market

Total: 2.00

Distinguished - Provides a comprehensive assessment of the labor market from which the organization draws candidates for open positions.  Cohesively and clearly analyzes the labor market by providing specific examples. 

Proficient – Provides an assessment that explains the labor market from which the organization draws candidates for open positions.  Assessment is not clearly discussed and is lacking some pertinent details.  Adequately analyzes the labor market. 

Basic – Provides a limited assessment which briefly explains the labor market from which the organization draws candidates for open positions.  Assessment is not clearly discussed and is not supported with examples.  Analyzes the market, but the analysis is either incomplete or lacking in detail. 

Below Expectations – Provides an assessment which does not clearly explain the labor market from which the organization draws candidates for open positions.  The assessment is vague and not supported with examples.   Market analysis lacks relevance. 

Non-Performance – The description of the results of the labor market is either non-existent or lacks the components described in the assignment instructions.

Population, Demographics, Education, and Training

Total: 1.00

Distinguished – Clearly and comprehensively explains the population.  The explanation provides detailed and relevant information on the demographics, levels of education, and how much training is required to prepare new workers.  

Proficient – Sufficiently explains the population.  The explanation is missing some details that are relevant to understanding the demographics, levels of education, and how much training is required to prepare new workers. 

Basic – Briefly explains the population.  The explanation is missing several details that are important to fully understanding the demographics, levels of education, and how much training is required to prepare new workers. 

Below Expectations – Fails to adequately explain the population.  The explanation is missing information on either the demographics, levels of education, or how much training is required to prepare new workers. 

Non-Performance – The explanation of the population is either non-existent or lacks the components described in the assignment instructions.

Research and Resources

Total: 1.00

Distinguished – Excellent use of scholarly sources for data.  The sources are academically valid and diverse. 

Proficient – Appropriate use of scholarly sources for data.  The sources are scholarly, but more diverse sources could have been used. 

Basic – Limited use of scholarly sources for data.  A limited number of sources are used, and some sources are not appropriate for this analysis. 

Below Expectations – Inadequate use of scholarly sources for data.  The sources are not scholarly in nature and lack pertinent information for an appropriate analysis. 

Non-Performance – The use of scholarly sources is either non-existent or lacks the components described in the assignment instructions.

Critical Thinking: Evidence

Total: 0.25

Distinguished -  Employs persuasive information from credible source(s), to develop an ample analysis or synthesis of the topic. Viewpoints of experts are scrutinized thoroughly.

Proficient – Employs applicable information from credible source(s), to develop an analysis of the topic.

Basic – Identifies applicable information from credible source(s), but may neglect the application of such information toward the analysis of the topic.

Below Expectations – Displays information from external source(s), but such information may lack credibility and/or relevance.  Neglects the application of such information toward the analysis of the topic.

Non-Performance – The assignment is either non-existent or lacks the components described in the instructions.

Written Communication: Control of Syntax and Mechanics

Total: 0.25

Distinguished – Displays meticulous comprehension and organization of syntax and mechanics, such as spelling and grammar. Written work contains no errors, and is very easy to understand.

Proficient – Displays comprehension and organization of syntax and mechanics, such as spelling and grammar. Written work contains only a few minor errors, and is mostly easy to understand.

Basic – Displays basic comprehension of syntax and mechanics, such as spelling and grammar. Written work contains a few errors, which may slightly distract the reader.

Below Expectations – Fails to display basic comprehension of syntax or mechanics, such as spelling and grammar. Written work contains major errors, which distract the reader.

Non-Performance – The assignment is either non-existent or lacks the components described in the instructions.

APA Formatting

Total: 0.25

Distinguished – Accurately uses APA formatting consistently throughout the paper, title and reference page.

Proficient – Exhibits APA formatting throughout the paper; however, layout contains a few minor errors.

Basic – Exhibits basic knowledge of APA formatting throughout the paper.  Layout does not meet all APA requirements.

Below Expectations – Fails to exhibit basic knowledge of APA formatting.  There are frequent errors, making the layout difficult to distinguish as APA.

Non-Performance – The assignment is either non-existent or lacks the components described in the instructions.

Written Communication: Word Requirement

Total: 0.25

Distinguished - The length of the paper is equivalent to the required number of words.

Proficient - The length of the paper is nearly equivalent to the required number of words.

Basic - The length of the paper is equivalent to at least three quarters of the required number of words.

Below Expectations - The length of the paper is equivalent to at least one half of the required number of words.   

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.

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Targeted Work Class: Walmart

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Targeted Work Class: Walmart

Current trends in business and technology illustrate how workers and work processes will change entirely over the near future and bear pintsized similitude to the work environment as it stands today. How employees work includes where, when, why, and with whom they work. On the other hand, Mujtaba (2020) affirms that work processes describe the means through which human resources create value for their organizations. In this respect, what are Walmart’s key work processes and employees? Walmart’s essential work process and employees are retailing and software engineers, inventory management specialists, and store managers, respectively. The components are part of the parties that will see Walmart meet its current strategic challenges, including limited inventory and market.

Work process refers to how employees make value for an organization. Employees’ value in business transpires through profits. In other words, workers’ value to an organization is helping it make profits. Walmart’s leading source of revenue; hence, profits is in-Store Merchandise Sales. The online retailer makes the lion’s share of its earnings through retail sales. For a case in point, in 2020, Walmart accrued a whopping $370 billion in retail sales, leading to a 9.26% revenue share of the total retail sales worldwide, which was $25.04 trillion in 2020 (Mujtaba, 2020). As such, Walmart’s primary work process is online retailing, also known as electronic commerce or e-commencing.

Because it is an online retailer, Walmart depends heavily on technology components to generate income. For this reason, technology personnel are some of the key workers at this organization, and the value of their salaries vindicates this point. For instance, Walmart’s software engineers earn a whopping $123,821, more than co-managers, who pocket about 58,417 (Muñoz, 2021). Other than software engineers, inventory management specialists and store managers are other essential workers behind Walmart’s profitability and sustainability. Both employees facilitate efficient retailing. For example, inventory management specialists record daily deliveries, analyze different suppliers, and evaluate new shipments. On the other hand, Muñoz (2021) demonstrates that store managers are responsible for superintending daily operations of stores, ensuring smooth and effective operation. They also motivate sales teams, create business strategies, train new staff, and develop promotional materials. Thus, these employees form the pillar of Walmart’s work processes.

Although it is a sustainable company with massive flexibility, Walmart faces tremendous strategic challenges. Foremost, while it is the biggest global online retailer with sales of about $135 billion, the business’ services are limited to only about 26 countries outside the U.S, despite sourcing merchandise from more than 100 nations (Bedford et al., 2021). The company has no stores in some of the world’s largest markets, including Germany, South Korea, India, and Russia. Secondly, Walmart retails only a limited inventory. The organization offers some but not many other merchandises, even those with high ready demands. For instance, Bedford et al. (2021) illustrate that the organization does not stock handgun ammunition, Zantac, men’s magazines, Odwalla, hot and spicy cheez-it grooves, snack subscription boxes, and recently stopped offering E-cigarettes. More so, Mujtaba (2020) argues that Walmart faces stiff competition, for example, in Canada, North America, and Mexico from brands such as Kmart, ShopKo, Soriana, Mejjer, Giant tiger, Costco, and Commercial Mexicana, among others. Walmart also suffers a poor reputation stemming from its low prices, low wages, and sexual exploitation (Philippou, 2018). One of the change priorities going into the future would be to solve these strategic challenges. Essentially, the business will need to expand into other markets globally, starting with Germany, South Korea, India, and Russia. Walmart should also expand its inventory to stock the products it does not offer today to serve all customer needs, tastes, and preferences. The business will also have to improve its prices and wages and address the sexual exploitation at its stores appropriately to enhance its reputation. Otherwise, a collapse, though gradual, will be inevitable.

Walmart will need the hands and brains of different human resources to change and meet these strategic challenges. Leadership, headed by the CEO, will obviously be critical. Outside this framework, expanding into other markets would necessitate the input of all the personnel mentioned above: software engineers, inventory management specialists and store managers. Without them, there would be no efficient website to facilitate the organization’s trademark online retailing. The company would also not have anyone to record daily deliveries, analyze different suppliers, and evaluate new shipments on the one hand and oversee daily operations of stores, and smooth and effective operation, respectively, on the other hand. Software engineers need knowledge, skills, and abilities, including brilliance in computer programming and Coding, problem-solving and logistical thinking, object-oriented design, software testing and debugging, and Software Development (Muñoz, 2021). On the other hand, inventory management specialists should boast excellent communication attributes, proficient keyboarding skills, and a good understanding of inventory control procedures. Muñoz (2021) posits that they should also be capable of working in an organized manner under minimum supervision. Lastly, store managers should be effective in communication, adaptability, sales experience, sales leadership, customer service, and people management.

Because workers need pay, compensation is another factor that dictates work processes. Walmart currently adopts a compensation strategy that uses base pay that follows the market rate. In this system, the company pays employees by their work hours. Nonetheless, the pay rates differ according to job position and working department relative to the organizational structure. The rates reflect the market because they fall within the market’s average compensation rates.

Walmart has become productive through retailing. Software engineers, inventory personnel, and store managers are some of its key workers. While it is one of the most valuable global e-commerce companies, Walmart needs constant reviews and improvements to remain profitable and sustainable.

References

Bedford, M., Cable, J., Oulicky, W., & Sanchez, C. (2021). Wal-Mart Strategic Management: An in depth analysis of Wal-Mart and its global strategic management and electronic distribution.  Academia. https://www.academia.edu/28713324/Wal_Mart_Strategic_Management_

Mujtaba, B. G. (2020). Wal-Mart in The Global Retail Market: Its Growth And Challenges.  Journal of Business Case Studies ,  3(2). https://www.researchgate.net/publication/228477402_Wal-Mart_In_The_Global_Retail_Market_Its_Growth_And_Challenges

Muñoz, B. C. (2021). 5 The Flexible Militancy of Walmart Retail Workers. In  Building Power from Below: Chilean Workers Take On Walmart (pp. 108-133). Ithaca, NY: Cornell University Press.  https://doi.org/10.7591/9781501714771-007

Philippou, M. (2018). Contemporary Issues in Management: Walmart.  Birmingham Business School. https://www.researchgate.net/publication/344496340_Contemporary_Iss

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Selection of a Firm

Selection of a Firm

Introduction

A business plan incorporates a company's concerns regarding vital resource issues. Typically, a company formulates its business strategy based on the resources at its disposal and the long-term results it hopes to attain. Therefore, the majority of businesses formulate their strategies with the objective of increasing their performance and keeping pace with the market's competition. The objective of this research is to identify an organization, discuss its nature, organizational structure as well as its business strategy. The selected organization for this paper is Walmart Inc. Walmart Stores Inc. is a well-known company that operates numerous locations across the globe including the United States, Mexico, Japan, United Kingdom India and Canada.

Nature of the Organization

Walmart is an international retail firm that was founded in the United States and maintains its headquarters in that country. Walmart is involved in the operation of many different hypermarkets, including food stores and discount departments, in a variety of nations all over the world. It is classified as a retail corporation in terms of its business operations. Sam Walton started the business in 1962, and since then he has been successful in growing it to be worth many millions of dollars. The company is a multinational discount retail chain. A stock split of the organization took place in May of 1972, and in 1981 Walmart expanded its activities to include the southern region of the United States (Pope & Pope, 2015). In 1993, under the leadership of Bobby Martin as president, Walmart established its international business. Subsequently, the corporation expanded into multiple states, which led to a rise in sales.

Walmart has a significant client base as a result of the low prices of the goods and services they provide, such as sports and recreation, electronics, delivery and pickup for household goods, and health insurance (Burbach, 2021). The management established two competing online stores, Walmart.com and Jet.com, which gave clients the option to buy goods from the nearby store, increasing their client base and providing them a greater chance in the market than their rivals. 

Organization Chart for Walmart

Chief Executive Officer CEO

The position of chief executive officer (CEO) is the most senior executive position in a company and is responsible for managing all aspects of the business. The chief executive also provides assistance in the selection of candidates for various higher positions and provides input into the organization's most important policy decisions. There are two assistant CEO’s one assistant is responsible for administration while the other is responsible for finances.

Assistant CEO in charge of Finance

Controls the company budgetary matters and has the authority to make important financial choices and monitor financial activities within the business and from its numerous international subsidiaries.

Assistant CEO in charge of Administration

The assistant chief executive helps the CEO in his tasks and, in his absence, can operate in his full authority, including key organizational decision-making, the hiring of higher positions, and the oversight of all administrative concerns in the institution's branches.

Human Resource Managers

The human resource manager is responsible for the well-being and performance of employees. They are responsible for recruiting and terminating employees based on their performance and conduct. In addition to reviewing employee compensation and other perks such as medical coverage, the human resource manager is also responsible for fostering positive working circumstances. They select high-performing staff and award them in various ways so as to boost their morale and work ethic.

Marketing Managers

The job of marketing managers includes conducting market research on a variety of topics, including the pricing strategies of competitors and customer preferences. In order to enhance sales turnover, marketing managers also help spread awareness of the company's products by using a variety of media, including social media.

Regional Managers

Walmart has developed a number of stores in different countries, each region now has a regional manager who is responsible for assisting in the formulation of important regional policies. A regional manager's responsibilities often include assisting in the assessment of employee performance, monitoring sales turnover, and ordering supplies.

Management Trainee

The responsibility of the management trainee includes providing training and induction services to newly hired employees, as well as providing these services to staff members who have been promoted. Every region has its own training program for aspiring managers.

Customer Service Supervisor

The client service supervisor assists in the general supervision and efficient functioning of the store to ensure that customers are served effectively. In addition, they oversee the actions and conduct of cashiers, shelf stackers, and sales workers. Client service supervisors also collect stock information that aids in order placement.

Cashier, Stocker and Sales Supervisor

The staff who work on the ground are the Cashier, Shelf stackers, and Sales Staff; as they interact with consumers, they are able to assist them with their purchases. They are responsible for ensuring that consumers receive the very best service within the allotted period when they make a transaction.

Business Strategy of Walmart

Walmart has a number of business tactics that give it an advantage over its rivals. The two generic approaches this company employs are cost leadership and differentiation. Implementation of these models provides the company with a competitive edge by attracting a larger clientele.

Cost Leadership

According to the framework invented by Michael Porter, cost leadership is a form of generic competitive plan that places an emphasis on lowering expenses (Bruijl & Gerard, 2018). Walmart is capable of competing on the basis of low selling prices since it is a manufacturer of retail products and connected business outputs that has low production costs (Ferguson, 2018). The pricing strategy of the company places a primary strategic emphasis on maintaining competitively low prices. The company’s’ key selling feature is low prices. The corporation takes advantage of the numerous cost-cutting approaches, which enables it to maintain prices at a competitive level. For example, the firm is able to achieve low costs in operations by using automation and other technologies, as well as by minimizing the amount of money spent on human resources.

Differentiation Strategy

Walmart implemented a complicated differentiation strategy in order to assure the continued growth of the company and the loyalty of its customers. In addition to this, they developed the company such that the consumer and the company both serve each other's needs. By implementing a differentiation approach, Walmart is capable of giving their products and services a distinguishing quality that their rivals lack and that consumers perceive to be superior (Ferguson, 2018). In the event that suppliers raise their prices, Walmart has a good opportunity of covering the increase by transferring on the cost to clients due to the distinctive future they provide in their goods and services.

Particular aspect of the company to focus on.

Ethics and integrity

The company should establish international ethics to aid in fostering a culture of honesty by formulating and enacting norms for ethical conduct applicable to all parties around the world. International ethics is accountable for fostering an institution's integrity culture. This includes defining and enforcing ethical conduct policies for all parties worldwide. The company should encourage integrity as a daily practice by providing ethical consistency education. 

Conclusion

In conclusion, the objective of this research was to identify an organization, discuss its nature, organizational structure as well as its business strategy. Walmart is a retail business that was established in 1962 by Sam Walton. In 1993, under the leadership of Bobby Martin as president, Walmart established its international business. Walmart has a significant client base as a result of the low prices of the goods and services they provide. The organization has a hierarchical organization structure led by the CEO. Walmart has a number of business tactics that give it an advantage over its rivals. The two generic approaches this company employs are cost leadership and differentiation. Implementation of these models provides the company with a competitive edge by attracting a larger clientele.

References

Bruijl, D., & Gerard, H. T. (2018). The relevance of Porter's five forces in today's innovative and changing business environment.  Available at SSRN 3192207.

Burbach, C. (2021). Walmart Strategic Analysis.

Ferguson, E. (2018, August 22). Walmart's generic competitive strategy and Intensive Growth Strategies. Panmore Institute. Retrieved August 24, 2022, from https://panmore.com/walmart-generic-competitive-strategy-intensive-growth-strategies

Pope, D. G., & Pope, J. C. (2015). When Walmart comes to town: Always low housing prices? Always? Journal of Urban Economics, 87, 1-13.

CEO

Assistant CEO Administration

Human Resource Mangers

Marketing Managers

Assistant CEO Finance

Regional Managers

Management Trainee

Customer Care Supervisors

Cashiers, Stockers and Sales Associates