Strategic Management and Strategic Competitiveness Assignment

Strategic Management and Strategic Competitiveness - Assignment Example Thus, strategic competitiveness can be regarded as a consequence or outcome of effective strategic management from a critical viewpoint. Undoubtedly, strategic management and strategic competitiveness are two fundamental attributes which are essentially required by modern day organizations to achieve as well as sustain in the leadership position. From a broader perspective, these two concepts can be identified as based various factors or managerial elements such as organizational vision, mission and its business administration strategies to name a few (Hitt, Ireland & Hoskisson, 2010). Based on this particular notion, the aim of the discussion henceforth will be to analyze the strategic competitiveness and the efficiency of strategic management process as practiced by Wal-Mart Stores, Inc. (Wal-Mart) in its regular business operations taking into account the effects of globalization and technological alterations in its international industrial context. Effects of Globalization and Te chnology on Wal-Mart One of the positive effects led by globalization which is identifiable in relation to Wal-Mart has been the exposure to worldwide consumer market. It can be stated in this regard that globalization has provided a noteworthy scope to Wal-Mart in terms of cost leadership advantages. It is worth mentioning in this regard that owing to the cost efficient market structure of Wal-Mart in its home country, the company had been able to market its products at a competitive price in the global consumer market. In other words, this globalization effect regulated a balance for permitting the expansion of quality products at a much lower rate in the global markets context which proved to be of great benefit to Wal-Mart (Kutztown University of Pennsylvania, 2005). However, globalization also imposes certain negative implications which are commonly identified in terms of increased competition and significant influence of governmental interventions. It is worth mentioning that owing to such influences, Wal-Mart also had to face certain disruptions in its strategic management processes in performing the responsibilities of Corporate Social Responsibility (CSR). Wal-Mart also had to witness significant challenges in relation to the diversity of cultures and market structures prevailing in different economic contexts all around the world. This can also be regarded as a vital challenge imposed by globalization effects upon organizations (Geref? & Christian, 2009). The effects of technology, in the similar context, can be considered as an important determinant which tends to impose significant impacts on the productivity of the retail outlets of Wal-Mart. Concerning today’s ever changing scenario, it can further be stated that the global retail market has been significantly influenced by the technology advancements. In relation to Wal-Mart’s strategic management initiatives in the global marketplace, can be observed as highly influenced by the te chnology effects. For instance, the company has been able to confirm efficient customer supply and almost accurate identification of the consumer demands. Technology has also played a vital role in increasing the efficiency of the overall business operations practiced in Wal-Mart