Module 04 Course Project – Mapping Strategic Goals
The stage is set for your strategic goal to become a reality. Before that can happen, you’ll need to think through and map out the tasks within the project. This assignment will focus on planning out the individual aspects of the project using the project management tools that you’ve previously learned. You will be able to use Word or Excel for this assignment. (Choose whichever you’re more familiar with.) It’s important to think through the goal you’re trying to accomplish and how you’ll reach it. The more detailed you can be with your tasks, the smoother the project management cycle will go. Your submission this week should accomplish the following:
Create a basic chart that lists out at least 8 tasks required to complete your chosen strategic management goal and estimates on how long each will take to complete.
Create a Gantt chart using the tasks listed in the previous chart.
Create a network diagram using the tasks listed out in the previous chart.
Analyze your created Gantt chart and network diagram. Identify two potential issues that may be a cause for concern when the project gets underway.
In the instructions it says “using the previous chart diagram”… here is the previous work:
It was earlier pointed out that Walmart best strategic move should entail focusing on establishment of an effective presence that will enable competition with giant online retailers such as Amazon and Alibaba which have taken e-commerce by storm (Lester, Forman & Loyd, 2008). Already Walmart has a well-to-do supply system hence can leverage it enabling shorter delivery times when compared to the competitors. More so, its outlets are closer to consumers hence shorter delivery times are highly possible. On the other hand, it is imperative to point out that the company needs to invest hugely in technology, delivery channels (Two-Way), and human capital in order to fully realize the goal. The online consumer numbers are growing by each passing day hence the traditional retailer cannot let the opportunity pass. More so, e-commerce has already been predicted to be the future of retail. Though the organization has been focusing on improving its online establishment, there is more that needs to be done which call for a hefty investment as looked into in the following operational budget. Operational Budget Item Estimated Budget Need assessment task $1,500,000 Recruitment and selection of 3,000 new employees $3,000,000 Training of new recruits $4,200,000 New Annual wages for the employees $180,000,000 Benefits and incentives $30,000,000 Construction of a tech centers $140,000,000 Purchase of New systems and security software $45,000,000 Investment on a Two-Way supply system $100,000,000 Inventory Management $3,000,000 Internet advertising $5,000,000 Maintenance and repair on Annual Basis $2,000,000 Miscellaneous Expenditure $3,000,000 Total $516,700,000 With an annual budget of $526.7 million, Walmart will be able to attain an effective online presence that is able to compete and meet the needs of the online shoppers. As earlier outlined, consumers are looking for low unit prices and shorter delivery times which can be attained by Walmart. However, it is imperative to assert that internet advertising need to be focused on in reaching out for online users and consumers. Capital Budget The two long-term assets that will enable completion of the goal entails human capital and the online store (system). It was earlier asserted that when it comes to e-commerce, human capital is key as it is central to how customers and online users are engaged (Shaw, 2006). They need to be made feel at home and appreciated so that they will not shift to other online stores. In this light, Walmart needs to ensure that employees’ skills are upto date and that retention is focused on. More so, when it comes to e-commerce online advertising is key hence marketers need to be motivated so that they can come up with innovative ways of reaching out for more consumers. On the other hand, the online store (system) is also a long term asset that will highly impact completion of the goal. It has been established that the nature of an online store affects the consumer behavior. For instance, users are normally looking for stores where they can easily navigate (Shaw, 2006). More so, product information needs to be provided online. For the older generations, they have lower internet use proficiency hence the website must be user-friendly. Further, the website needs to be active for twenty four hours so as to ensure that all queries of users are addressed in a timely manner. Essentially, the organization needs to pay attention to such factors when it comes to the store becoming a long-term asset. References Lester, D., Forman, A. D., & Loyd, M. (2008). Internet Shopping and Buying Behavior of College Students. Services Marketing Quartely 27(2), 122-137. Shaw, M. (2006). An introduction to ecoommerce and Digital economy. New York: Sharpe.