Unit 6 Business Decision Making Assignment (GC0650)
Table of Contents
1.0 Introduction.
2.0 Overview of Wal-Mart
3.0 Case study on Wal-Mart
4.0 Wal-Mart Business Decision Making Problems and their importance.
4.1 Primary problems.
4.2 Secondary problems.
4.3 Importance of the identified problems.
5.0 Decision making in Wal-Mart
6.0 Problem-solving process of the complex decision making in Wal-Mart
7.0 Techniques Wal-Mart uses for complex decision making.
7.1 Regression Analysis.
7.2 Decision Tree Methods.
7.2.1 Evaluation of Decision Tree.
7.2.2 Calculation of value of uncertain outcome nodes.
7.2.3 Calculation of Value of Decision Nodes.
Result.
7.3 Break-Even Analysis.
8.0 Recommendation.
9.0 Justification of Recommendation.
10.0 Limitation of recommended models.
11.0 Conclusion.
12.0 References.
1.0 Introduction
Decision-making is a crucial part of a business like Wal-Mart. This report conducts a study on business decision-making based on a particular business organization namely Wal-Mart. The report, firstly, conducts research on Wal-Mart to identify its business decision-making problems in its marketing. The problems have been generated from a study of Wal-Mart’s report and a case study about its business decision making, where the problems are related to Wal-Mart’s decision making. Secondly, the report focuses on the problem-solving process of business decision-making in Wal-Mart. Thirdly, the study applied the techniques that Wal-Mart should use in decision making. Fourthly, the study recommends further improvement required for the present solutions. Fifthly, the study has given a justification for the recommendation needed in selected application areas with an explanation of functions, purposes, and potential users. Finally, the report outlines the limitation of the recommended model and the direction of its improvement
2.0 Overview of Wal-Mart
Wal-Mart is the biggest retailer in the world. It has expanded the business globally and been successful through its innovative thinking, creativity, and effective leadership through service, and commitment to saving consumers money. It has been creating a seamless experience for worldwide consumers so that they can do shopping anytime from anywhere through online, mobile devices, as well as in stores. It has also been bringing value and creating opportunities for consumers and local communities across the globe. Wal-Mart is operating more than 11,000 retail units in 71 banners across 27 nations, and e-commerce services through the website in 10 countries including the US, Canada, Mexico, China, Brazil, UK, German, Korea. It employs over 2.2 million staff over the globe, where 1.3 million are working only in the US. Wal-Mart is helping its customers across the globe to live better and save money through its undisputed discount strategy. It serves around 250 million customers every week, where only in 2014 its total sale was approximately 473 billion dollars (Wal-Mart, 2014).
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3.0 Case study on Wal-Mart
Wal-Mart is committed to providing excellent customer service and low prices. The low price provides more predictable sales and reduces the cost of request sales promotions. The unique cross-docking inventory system in Wal-Mart has enabled it to gain economies of scale and reduce costs of sales through continuous delivery of goods to stores within 48 hours and not keeping to inventory them. It leverages the buying power with bulks purchasing and goods distributions in its own way. In consequence, it can provide guarantees of low prices (Wal-Mart, 2014).
As Mattera (2013) notes, the leading marketing strategies of Wal-Mart are low prices, excellent customer services, and smiles which have gained its enviable success without depending on diversification to sustain its competitive advantages as well as growth. In addition, using advanced and sophisticated information systems in Wal-Mart transportation services and cross-docking inventory systems have enabled it to deliver goods at all times as customers required. However, one single business strategy looks like putting all of the firm’s eggs in a single industry basket which is a risk for Wal-Mart………….
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