Discuss about the Walmart Invests in Digital Innovation.
In the past, work centered analysis (WCA) framework was viewed as a system. However in recent times, organizations are realizing that computer frameworks are more than just systems. They are work assistants and so there are more efforts being pulled in into making these systems work for the organizations. The scope of work goes beyond technical assistance but also in the gaining of information for use. The main issue lies in forming a balance between the two.
Walmart to date is still one of the biggest retailers globally with more than 50 stores in most continents. Just from a store it has managed to grow into the biggest retailing store. It supplies many items at discounted prices both locally and globally in more than one store every country it has based itself in. It has also made strides to move its retail into the e-commerce sector by selling items online management.
This report will focus on:
Walmart used strategies such as location and information based on the population spread of consumers within different states in the U.S.A. It focused mostly on the products that had quick sale value. This was based on the fact that products which are closer to the consumers ensure more consumers in the stores and also profits for the retailers. More to that, focusing on goods with discount values helped in improving sales for the retailers (Badkar, 2017).
Before the digital disruptions there was heavy reliance on filed hard copies for transactions. The managers and staff had to go through multiple receipts in order to identify the products that sell more and in the seasons where the products sell. More to that, it was hard to sell out products to the preferred consumers as there wasn’t much information on the customers. The shopping trends could only be determined through cashier customer relationships and through enquiries on phone or on mails. Advertisement was highly dependent on print ads on newspapers, billboards and magazines. The business set up in the early 18th century, faced difficulties transitioning into new era after the introduction of information and information technologies due to limitation of innovation and creativity on their side. Walmart however, saw the wave of change and knew there was need to improve on the old systems, incorporate new ones in order to serve the customers’ needs and achieve customer satisfaction (Buss, 2017).
In the onsite of the 20th century, the world of e-commerce came to life. Goods to be sold through stores and supermarts were done through help of delivery companies. It was no longer that much of a necessity for the consumers to walk into the stores and purchase the products. They just had to look them online from dealers, manufacturers or online stores and have them delivered to their homes. This extended from the previous TV sales where products were sold on TVs through calls and delivered to the consumers. (Escher, 2018).
The digital technology has changed the direction of business and service delivery and has brought about new opportunities and challenges to public and private organizations. The new wave of technology that started mid-19th to 21st century and still on going, has brought about transformative changes to the organizations. This has been through cyber security, smarter cities, mobile devices that have been used for personal use and even work. The digital disruption has brought about emergence of products, services and business disruptions to the new era. Digital disruption saw the fall of Kodak from the mainstream market due to lack of adaptability to the changing times when the rise of smartphones with supportive cameras came into the market from different brands. The gadget culture saw male population gain interest with the likes of drone and mega cameras for filming. Brands like Sony and Canon rose in the markets. Digital disruption saw the rise of Amazon.com one of Walmart biggest competitors selling everything online and also shipping to multiple locations globally (OCM, 2014).
The advantages is that one is able to use mobile banking, Visa online transactions and online banks like Payza and Paypal to pay to bought items or products, made the transactions easier and faster. There have been challenges with the digital disruption especially with customer information, privacy invasion and safety of their accounts. This is due to the hacking that has risen over time throughout the online world from different servers. But even so, there is a goal to easen shopping experiences through social media mergers, and also to make online transactions safer through data protection and encryption (OCM, 2014).
Walmart has spent the last 5 years heavily investing in the Information Technology department and placed special focus on obtaining as much current information as they could about their customers and the goods they consume. Point of sale (POS) is a system that focuses slowly on customer preferences as opposed to overstocking items and checking for what sells out more. This means as the customer purchases build up, a pattern of purchase can be established and that helps on determining the goods that need more restocking when compared to others (Howland, 2017).
The WCA framework is based on running ideas about organizing though processes about various concepts. This helps identifying areas or topics that should be considered for change and how interrelated they are. This is made possible through incorporation of models that show the complexity of a concept and alternatives that may work instead. In the case of Walmart retailers, the three main WCA frameworks incorporated include automated teller machines, Walmart’s point of sale and Walmart.com website. This was based on the WCA framework that focuses on customers, products and information technology as explained in the diagram below (Ignatius, 2017).
The Walmart enterprise focuses on the customers who shop for products in the stores and those who shop for the products via online markets from the store like Walmart.com website both locally and globally. Through the purchases a pattern is built up on products that are in demand via seasons, throughout seasons, prices, types of products, and manufacturing companies. Based on the information gathered about the consumers management the company is able to determine the participants that are suitable for the products (McFadden, 2008).
When the enterprise became more profitable, Walmart broke out to more regions across the country and globally as well. They therefore needed to use computerized systems in order to help them keep track of purchases and sales and also, to store in customer information so as to determine, what they require and bring it to them. All these processes are all determined in the WCA framework. For Walmart to realize the return of investments and become profitable, they had to incorporate value chain processes. In value chain, there is both primary and support processes. These help in realizing value for customers (Stanford, 2016).
This is made possible as information is coordinated between different organizational sectors among them, production where goods are produced, sales where the coordination of different markets for the products are determined and actualized, marketing where the strategies for sales of goods is determined and finances where the profits, revenues and taxes are tabulated. In the past, Walmart enterprises handled business processes using the human systems. In the last five years, the enterprise has invested much on information systems using technologies such as bar code scanners and computers in order to identify the items that were sold and also to calculate the bills (O’Keefe, 2017).
More to just incorporating the world of e-commerce, it’s important for the company to invest heavily into social media where the current wave of sales is taking shape. This can be made more frequent and powerful through sponsorships and ambassadors that help market the enterprise to the online community. Sales on platforms such as Facebook, Instagram and others like shopify spreads the reach of products to the consumers. This creates volumes in sales and creates more awareness of the brand.
This can be made possible by having famous social media influencers and marketers reach out to the masses and online community. More to that, partnership with major online shops to market their products to as many people as they can. Brand ambassadors also create buzz about a brand and brings in huge sales for the company.
Conclusion
It’s clear that with the onset of change, businesses and organizations have to change with the times, if they stand a chance of succeeding and realizing full benefits and profits for their enterprises. More to that, there is need to link operations and other sectors that utilize information with technologies in order to coordinate events, and reach to the customers according to their preferences.
References
Badkar, M., 2017. Walmart reports strongest US sales in 8 years. Financial Times, p. 1.
Buss, D., 2017. Walmart Invests in Digital Innovation; New Stores, Not So Much. Brand Channel, p. 1.
Escher, 2018. Digital Disruption in the Postal Industry. Escher , p. 1.
Howland, D., 2017. Walmart focused on digital, dials back store growth. Retail Drive, p. 1.
Ignatius, A., 2017. We Need People to Lean into the Future”. Harvard Business Review, p. 1.
McFadden, R. D. M. A., 2008. Wal-Mart Employee Trampled to Death”.. New York Times, p. 1.
Neff, J., 2017. HOW WALMART FOUND ITS FOOTING IN THE AMAZON ERA. AdAge, p. 1.
OCM, 2014. Digital Disruption: What Is It and How Does It Impact Businesses?. Oxford College of Marketing (OCM), p. 1.
O’Keefe, B., 2017. What’s Driving Walmart’s Digital Focus? Paranoia, Top Exec Says. Fortune, p. 1.
Stanford, R., 2016. Basic Concepts The Work Centered Analysis Framework. Dutton e-Education Institute , p. 1.
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