Analyze the role of strategic planning in establishing competitive advantage

Writer: Please write 4page assignment and follow the rubric Discussion: Strategic Planning for Walmart In order to be successful in today’s rapidly changing business landscape, company leaders must consider how best to position their organizations in order to gain and maintain a competitive advantage. Strategic planning is a critical component of achieving that competitive advantage. For retail giants like Walmart, in particular, strategic planning provides crucial insight into the current and potential success of their diverse operations. To prepare for this Discussion, review “Case 01: Walmart Stores” on pages C-2 to C-11 in Dyer, Godfrey, Jensen, and Bryce (2016) and consider the fundamental principles of strategic planning. Be sure to consider strategies for leveraging competitive advantage within a crowded industry. Week 1: Foundations of Strategic Planning You may have heard the idea that failing to plan is planning to fail. In the business world, it seems impossible that any company could succeed without a well-constructed plan and the structures in place to support the execution of that plan. Strategic planning includes the processes and systems that allow business leaders to map out their vision for achieving success. Critical to this success is the importance of not only understanding the foundational theories behind strategic planning but knowing how to apply those theories as a business practitioner and leader within an organization. This week, you will begin by analyzing the role of strategic planning in establishing an organization’s competitive advantage. Then, you will take a quiz to validate your understanding of APA formatting and citation criteria relevant for supporting doctoral course work. Finally, you will evaluate the benefits and challenges of implementing strategic planning with an identified organization. Learning Objectives Independent scholars will: • Analyze the role of strategic planning in establishing competitive advantage • Validate understanding of APA formatting and citation criteria to support doctoral course work • Evaluate the benefits and challenges of implementing strategic planning within an organization Photo Credit: Boldizsár Nádi/Moment/Getty Images ________________________________________ Learning Resources Note: To access this week’s required library resources, please click on the link to the Course Readings List, found in the Course Materials section of your Syllabus. Required Readings Dyer, J. H., Godfrey, P., Jensen, R., & Bryce, D. (2016). Strategic management: Concepts and tools for creating real world strategy. Hoboken, NJ: John Wiley & Sons. • Chapter 1: “What Is Business Strategy?” (pp. 2–19) • Chapter 2: “Analysis of the External Environment: Opportunities and Threats” (pp. 20–45) • Case 01: “Walmart Stores: Gaining and Sustaining Competitive Advantage” (pp. C-2–C-11) Bereznoi, A. (2014). Business model innovation in corporate competitive strategy. Problems of Economic Transition, 57(8), 14–33. doi:10.1080/10611991.2014.1042313 Note: Retrieved from the Walden Library databases. Walden University. (2015). APA course paper template (6th ed.). Retrieved from https://academicguides.waldenu.edu/ld.php?content_id=7980596Required Media Olsen, E. [virtualstrategist]. (2012, September 5). Overview of the strategic planning process [Video file]. Retrieved from https://youtu.be/sU3FLxnDv_A Note: The approximate length of this media piece is 5 minutes. Sull, D. (2012, August 14). Simplify your strategy [Video file]. Retrieved from https://hbr.org/2012/08/simplify-your-strategy.html Note: The approximate length of this media piece is 3 minutes. Optional Resources Olsen, E. [virtualstrategist]. (2012, April 9). What is strategic planning, really? [Video file]. Retrieved from https://youtu.be/mLJ34L5UW4E Note: The approximate length of this media piece is 4 minutes. _________________________

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