Current Strategies
To manage its competitive environment, Wal-Mart is currently deploying a variety of strategies, most of which stem from its relentless core generic strategy of cost leadership,but some of which represent beyond-cost approaches. “Our everyday low price position is the basis for our business,” wrote Rob Walton in Wal-Mart’s 2006 annual report. He added, “While this core principle is critical to our growth and business strategy, by itself it is not enough anymore.”According to Scott in this year’s shareholder letter, Wal-Mart is confronting “a period of perhaps the most rapid and profound change in our Company’s history. With our transformation plan, we are committed to staying “Out in Front’ of the changes around us.” The corporate plan,encompassing previous change initiatives as well as newer ones,rest on “five pillars” : “broadening our appeal to our customers, making Wal-Mart an even better place to work, improving operation and efficiencies,driving global growth,and contributing to our communities.