Internal business process perspective
Internal-business-process-perspective entails identification of various processes which are critical in a firm’s effort to attain the shareholder’s and customer’s objectives (Lessem, 1998, p.140). Through incorporation of internal-business-process-perspective, a firm’s management team is able to identify the core operational processes which require to be improved. The resultant effect is that the firm is able to attain a high competitive advantage.
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In its operation, Wal-Mart Stores Inc. has integrated the concept of internal-business-process-perspective. The decision arose from the firm’s committed of ensuring that its operations result into a high level of customer satisfaction. In addition, it is the firm’s objective to ensure that the shareholder’s wealth is maximized.
In an effort to improve its competitive advantage by improving its internal business processes, Wal-Mart Stores Inc. intends to achieve three core objectives.
First, the firm’s intends to integrate the concept of product innovation in its strategic management process. This will apply to all its products. Secondly, the firm aims at attaining operational excellence by gaining a comprehensive understanding regarding the customer’s product and service requirement. This will be attained by identifying the current and future product and service need amongst its customer.
Thirdly, the firm intends to improve its post sale services so as to improve the level of customer satisfaction. All the three objectives have a strong relationship with the firm’s mission. Through incorporation of the concept of product innovation, the firm will be able to undertake a continuous refinement of its products and services. This will be achieved through incorporation of the current manufacturing technology. This objective is also related to the firm’s customer perspective. Through product innovation, the firm will be able to refine its products thus ensuring that its customers attain value for their money.
In addition, it will be possible for the firm to attract and retain customers. The firm’s objective to improve its post sale services will also contribute towards attainment of the firm’s mission of ensuring a high level of customer service. This objective is also related to the firm’s financial objective of objective of initiating a vibrant corporate social responsibility making the customers to be more loyal to the company thereby bringing profitability. In addition, gaining knowledge regarding the customer’s present and future product requirement will enhance the firm’s objective to attain a strong corporate culture by establishing a relationship with the customer’s.
Moreover, the three objectives have a relationship with the firm’s vision which entails establishing the firm as a firm offering the best services and products for our customers and also enabling them to attain value for their money on a global scale. In order to achieve this, a high level of effectiveness and efficiency in the firm’s internal processes is vital (Kaplan & Norton, 2002, p.96). Through product innovation, attaining operational efficiency and ensuring a high level of customer satisfaction, the probability of the firm attaining excellence are high.
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Measures, target and action
In order to attain the above objectives, the firm will incorporate a number of measures, targets and actions. In an effort to attain effective product innovation, the firm’s management team will conduct a comprehensive brand extension. This will be achieved by conducting a consumer market research to determine the most effective way to undertake product innovation. This will contribute towards ensuring that a large number of customers are satisfied.
On the other hand, an employee training program on how to handle the customers will be formulated in an effort to ensure effective post sale service. In addition, new technologies will be implemented to reduce the time taken while handling customers (Page, 2010, p.110). The firm will integrate the concept of Customer Relationship Management (CRM). To attain operational efficiency, the concept of division of labor and specialization will be integrated. This will be attained by incorporating new technologies so as to improve customer handling. In all the objectives, the firm has set targets as illustrated in the table below.
The above objectives are critical in the firm’s internal business processes. Therefore, it is paramount for the firm to ensure that they adhere to these internal processes. To position itself in the market, Wal-Mart Stores will incorporate the formulated all the financial customer and internal business process objectives. The table below gives a summary of the firm’s objectives, targets, measures, and actions in relation to internal-business-process-perspective.
|Incorporating the concept of product innovation in its strategic management processes.||The firm will undertake brand extension so as to ensure that its various brands appeal to a wide range of customers.||The firm intends to have numerous brand extensions so as to improve the shareholder’s wealth with a margin of 25% annually.||A continuous market research to determine the best way to improve the firm’s products and services will be conducted.|
|-Attaining operational excellence by developing an understanding of customer product and service requirement.||The firm will incorporate the concept of division of labor so as to ensure that the employees become specialized in their duties.||The firm intends to reduce cycle time in its manufacturing process with a margin of 20% within a period of one year.||The firm will incorporate new technologies so as to improve customer handling.|
|The firm intends to improve its post sale services in an effort to improve the level of customer satisfaction.||The firm will integrate an employee training program. This will contribute towards ensuring that the employees appreciate the importance of effective service delivery. In addition, the firm will implement the concept of Customer Relationship Management (CRM).||The firm targets to increase its customer base with a margin of 25% within a period of one year.||Continuous review of customer’s response regarding the firm’s level of service will be conducted.|
Kaplan, R. & Norton, D. (2002). The balanced score card. New York: Harvard Business Press.
Lessem, R. (1998). Management development through cultural diversity. New York: Routledge.
Page, S. (2010). The power of business process improvement: 10 simple steps to increase effectiveness, efficiency and adaptability. AMACOM DIV American Mgmt Assn.