Walmart near grand canyon university

The purpose of this assignment is to evaluate change management strategies and their impact on organizational outcomes and to effectively communicate a change plan.

Using the research gathered in the Topic 6 and 7 assignments, develop an organizational change plan and communicate it to relevant stakeholders in a bulleted executive summary (500-750 words) composed of the following sections: summary, introduction, method (if applicable), findings, conclusions, and recommendations. The executive summary must that address the following:

Need for change, role of management in change, and importance of change to stakeholders.
Change agents and their future role in the organization.
Identification of area for change and communication of this information from management to employees and change agents.
Identification of two proactive steps the organization needs to take today to avert potential change-related problems.
Identification and explanation of significant obstacles that could be encountered by each of the following: management, employees, change agents, and two other significant stakeholders.
Identification of two potential sacrifices that the organization might need to make to accomplish the goals/objectives of this organization.
The three most essential resources the organization needs to sustain the required changes?
Explanation of change management strategies that would help the organization integrate change and the impact of these strategies on organizational outcomes.
Discussion or revisions that could be made to the vision and mission statements of the organization.
Communication plan identifying techniques and channels to be leveraged to effectively influence the change.
Summarize the estimated timeline for plan implementation.
This benchmark assignment assesses the following programmatic competencies:

BS Applied Management

3.1: Evaluate change management strategies and their impact on organizational outcomes.

BS Business Management

5.4: Evaluate change management strategies and their impact on organizational outcomes.

5.3: Leverage communication techniques and channels to effectively influence a contemporary workforce.

Organizational Change Research: Part 1

Directions: Visit the website for the company you have selected and obtain a copy of the annual report. Locate three to five additional resources that provide data and information about the organization. You will use this research to determine potential areas for organizational change and to address questions related to planning and managing change within the company.

Company Name: Walmart, Inc.

Company Vision: “Be THE destination for customers to save money, no matter how they want to shop.” (Lore, Walmart Corp, 2017, p. 5)

Company Mission: “To save people money so they can live better.” (Walmart.com, 2020, p. 1)

Criteria

Research Findings

Citation of Sources Provide APA citations for the company’s annual report and the other research sources utilized in completing the assignment. Please see the full reference list at the bottom in proper APA format.

What are the indicators of an awareness of a need for change within the selected organization?

Walmart has staked its importance in the big box store industry for decades. The massive one-stop-shop has representation in almost every product line along with irrefutable economic contribution through employment. Walmart has undoubtedly transitioned through many global and societal shifts; however, considering a global pandemic and nearly 63% of consumers buying online, their digital footprint must become both bigger and better than before to stay competitive (Crets, 2020).

Already projecting a loss of over $1.1 billion in its e-commerce sector this year, the retailer must deploy efforts to maximize sales (Repko, 2020). Its digital opportunities steer to compensate for the 20% reduction in their store capacity as well as competition with Target’s 70% of Walmart’s digital success while being only a quarter of the size of the super retailer (Desai, 2020).

According to UpGuard (2020), to carry the previously reputable storefront brand successfully into the digital age, the business must address domain registration, network security, and website securities. The expected cost for Walmart and other retailers is $25 billion in the next four years (Minocha, 2020).

Crets, S. (2020, November 11). COVID-19 drives a surge in online holiday shopping. Digital Commerce 360. https://www.digitalcommerce360.com/article/coronavirus-impact-online-retail/

Desai, J. (2020, August 25). Target, Walmart, or amazon: which e-commerce giant is the best. Stocknews.com https://stocknews.com/news/tgt-amzn-wmt-target-walmart-or-amazon-which-e-commerce-giant-is-the-best/

Minocha, S. (2020, April 2). E-commerce losses due to online payment fraud estimated to exceed $25bn by 2024. Ecommerce Next. https://www.ecommercenext.org

Repko, M. (2020, July 30). Walmart cuts corporate roles as it merges online, store businesses. CNBC.com https://www.cnbc.com/2020/07/30/walmart-cuts-hundreds-of-corporate-roles-report-says.html

Walmart. (2020, November 18). UpGuard.com Retrieved November 18, 2020 from https://www.upguard.com/security-report/walmart

What role does management play within change for this organization?

During the COVID-19 pandemic, management has promised the customers they will do everything in their power to maintain a clean and sanitary store, “We’re taking preventative measures to keep our stores clean and maintain a healthy environment.” (Walmart.com, 2020, p. 1).

Despite dropping their in-store sales drastically from the fiscal year 2019 to the fiscal year 2020, they are still the top retailer in the Fortune 500. Walmart’s e-commerce sales have increased since the beginning of the pandemic by offering curb-side pick-up and now their new Walmart+ with limited delivery radius.

In the next fiscal year of 2021, Walmart’s management will have to drastically find ways to compare their sales from the previous year. It may include rearranging the stores to keep up customer satisfaction, especially with the new programs implemented.

Walmart.com (2020, July 21). Walmart Invests $428 Million More in Associates

with Another Special Bonus; Totaling $1.1 Billion in Special Bonuses So Far This Year. Bentonville, AK https://corporate.walmart.com/newsroom/2020/07/21/walmart-invests-428-million-more-in-associates-with-another-special-bonus-totaling-1-1-billion-in-special-bonuses-so-far-this-year

How will this awareness of change be important to at least three stakeholders in the organization?

Walmart’s changes will impact their customers the most. Any changes that affect prices will also affect the buying patterns of the customers.

The employees would be the next group to feel the effects of any change the company makes. If these changes negatively impact the company, employees could see lay-offs and pay cuts.

Investors are Walmart’s main priority. Walmart would need all changes approved by the investors first. These changes will ultimately affect their bottom line either negatively or positively.

Suppliers to Walmart could either be the least or most affected by changes. If the change benefits the supplier’s contract, they would see an increase in profits. If the change does not benefit their contract, they would see a loss in profits and possibly bankruptcy.

Meyer, P. (2017, March 25). Walmart’s Stakeholders: Analysis & Recommendations. Panmore Institute. http://panmore.com/walmart-stakeholders-analysis-recommendations

Who are the agents of change within the organization?

The agents of change start with organizational development, management-level employees, and human resources assisting to see if they have all hires and resources for leading the change. There is upward communication from survey feedback to make sure they are heard. Downward communication comes with the new change to ensure Walmart stays successful during rapidly changing times.

According to the COO of Walmart, Bariso, by providing career growth for their employees through role changes, management roles, and skills training, they can perform better and more efficiently (Bariso, 2020 pg. 1). While this starts with higher management, it is not achieved just there. It is also employees with leadership positions that carry out the change for them. According to Brown, organization development provides a process in which managers can focus on adapting their methods and leading the change. Meeting the goals during changing times and work environments is crucial (Brown, 2011, pg. 62).

It is a whole-team concept that will make Walmart better. Realizing their employees are their strength and rewarding them by being investing in their future career path will benefit the organization as well.

Bariso, J., (2020). Walmart Just Made a Change That Could Shape Its Future for Years. It's a Lesson in Emotional Intelligence. Ink.com https://www.inc.com/justin-bariso/walmart-just-made-a-change-that-could-shape-its-future-for-years-its-a-lesson-in-emotional-intelligence.html

Brown, D. R. (2011). An Experiential Approach to Organization Development, Eighth Edition, Pearson Education, Inc. London, U.K. https://viewer.gcu.edu/d6YEDw

What role do these people play in the future of the organization?

All people involved with the company of Walmart, including the COO, managers, employees, human resources, suppliers, and buyers, play a role in the future of the organization. In 2020, the need for change is clear and demanding. Walmart has launched curbside pickup and processed online orders like never before. All while providing a clean and safe store for their employees and customers.

They must work together to meet the growing demand for change, so the business does not suffer more losses than they can handle. Walmart’s company vision is to “be the destination for customers to save money, no matter how they want to shop” (Lore, Walmart Corp. 2017, pg.5). To make this vision a reality, Walmart must make changes both in-store and online.

For example, employees could become personal shoppers for people who order online. Store employees must also take on the task of cleaning and sanitizing more than ever before. Everyone has a role to play to create change within the company.

Lore, Marc (2017). Walmart Corp Investment Community Meeting Moving With Speed. Silicon Valley, CA https://cdn.corporate.walmart.com/a3/4d/478a7f164c17a504976c7d6deb2f/icm-2017-marc-lore-show-final.pdf

References

Bariso, J. (2020, September 21). Walmart Just Made a Change That Could Shape Its Future for Years. It's a Lesson in Emotional Intelligence. Inc.com https://www.inc.com/justin-bariso/walmart-just-made-a-change-that-could-shape-its-future-for-years-its-a-lesson-in-emotional-intelligence.html

Brown, D. R. (2011). An Experiential Approach to Organization Development, Eighth Edition, Pearson Education, Inc. London, U.K. https://viewer.gcu.edu/d6YEDw

Crets, S. (2020, November 11). COVID-19 drives a surge in online holiday shopping. Digital Commerce 360. https://www.digitalcommerce360.com/article/coronavirus-impact-online-retail/

Desai, J. (2020, August 25). Target, Walmart, or amazon: which e-commerce giant is the best. Stocknews.com https://stocknews.com/news/tgt-amzn-wmt-target-walmart-or-amazon-which-e-commerce-giant-is-the-best/

Lore, Marc (2017). Walmart Corp Investment Community Meeting Moving With Speed. Silicon Valley, CA https://cdn.corporate.walmart.com/a3/4d/478a7f164c17a504976c7d6deb2f/icm-2017-marc-lore-show-final.pdf

Meyer, P. (2017, March 25). Walmart’s Stakeholders: Analysis & Recommendations Panmore Institute. http://panmore.com/walmart-stakeholders-analysis-recommendations

Minocha, S. (2020, April 2). E-commerce losses due to online payment fraud estimated to exceed $25bn by 2024. Ecommerce Next.com https://www.ecommercenext.org/e-commerce-losses-due-to-online-payment-fraud-estimated-to-exceed-25bn-by-2024/

Repko, M. (2020, July 30). Walmart cuts corporate roles as it merges online, store businesses. CNBC.com https://www.cnbc.com/2020/07/30/walmart-cuts-hundreds-of-corporate-roles-report-says.html

Walmart.com (2020, July 21). Walmart Invests $428 Million More in Associates with Another Special Bonus; Totaling $1. Billion in Special Bonuses So Far This Year. Bentonville, AK https://corporate.walmart.com/newsroom/2020/07/21/walmart-invests-428-million-more-in-associates-with-another-special-bonus-totaling-1-1-billion-in-special-bonuses-so-far-this-year

Walmart. (2020, November 18). UpGuard.com Retrieved November 18, 2020 from https://www.upguard.com/security-report/walmart

Walmart.com (2020). Walmart.com's History and Mission. Silicon Valley, CA https://www.walmart.com/help/article/walmart-com-s-history-and-mission/a62ce500758c4746a211d00d7c2acfcd