What are the unique hurdles that companies need to be aware of when implementing the foundations of strategic planning

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 Assignment: Foundations of Strategic Planning The foundations of strategic planning include a diverse group of theories, models, and real-world application opportunities. One of the most crucial skills for a strategic planning professional is knowing not only how to implement a plan, but why it is necessary. Part of this skill can also involve business professionals taking into account potential strategic planning considerations like benefits, challenges, and possible reasons not to use it at all. To prepare for this Assignment, consider the need for and importance of strategic planning in an organization. Further, consider any potential ramifications of strategic planning, including both minor and major organizational changes. Be sure to consider your experience as a business practitioner and independent scholar in developing your perspective. By Day 7 Submit a 3- to 5-page evaluation of the benefits and challenges of implementing strategic planning within an organization. Your evaluation should include the following: • What are the steps of the strategic planning cycle? Be sure to include a condensed description of the value of each step to a professional organization. • What are the long-term business benefits of strategic planning? • What are the unique hurdles that companies need to be aware of when implementing the foundations of strategic planning? Explain with specific examples from scholarly sources. • Based on your research and/or personal experience, would there ever be a reason why an organization would benefit from not utilizing strategic planning? Provide a rationale for your answer with specific examples from scholarly sources. Note: Be sure to use the APA Course Paper Template (6th ed.), found in this week’s Learning Resources, to complete this Assignment. Also, refer to the Week 1 Assignment Rubric for specific grading elements and criteria. Your Instructor will use this rubric to assess your work. Please Note: For each page of your paper, you must include a minimum of two APA-formatted scholarly citations. Submission and Grading Information To submit your completed Assignment for review and grading, do the following: • Please save your Assignment using the naming convention “WK1Assgn+last name+first initial.(extension)” as the name. • Click the Week 1 Assignment Rubric to review the Grading Criteria for the Assignment. • Click the Week 1 Assignment link. You will also be able to “View Rubric” for grading criteria from this area. • Next, from the Attach File area, click on the Browse My Computer button. Find the document you saved as “WK1Assgn+last name+first initial.(extension)” and click Open. • If applicable: From the Plagiarism Tools area, click the checkbox for I agree to submit my paper(s) to the Global Reference Database. • Click on the Submit button to complete your submission. advantage within a crowded industry.

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