6 - 7 Essay Example | Topics and Well Written Essays - 250 words

6 - 7 - Essay ExampleStrategy is done through the application of door guards five force model to reduce supplier power, which enables them to price their goods at a lower price than competitors in the market.One of the factors that have as well as helped Wal-mart is innovation and change management. With an embracement of change through creative ideas, Wal-mart is able to stay before other competitors by continually changing their strategies to fit the market. As already mentioned, using a business model based on cost leadership has also helped Wal-mart. This strategy helps them manage their suppliers and share business risks with them, thus lessen costs and ultimately the final price faced by the customer. However, despite the market leadership enjoyed, Wal-mart has continually lost customers to its competitors who have attractive prices and better convenience. This privy be related to problems of managerial capability, which can be overcome by innovation. Wal-mart ask to stop f ocusing a lot on meeting shareholders needs and instead focus more on customers