Evaluation of the Wal-Mart Strategic Plan and the Success of its Implementation

Evaluation of the Wal-Mart Strategic Plan and the Success of its Implementation
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Evaluation of the Wal-Mart Strategic Plan and the Success of its Implementation
Methods for Evaluation of Strategic Goals
The core strategic goal of Wal-Mart’s lending plan is to increase its customer base, its sales, and ultimately its profitability. In this way, the business is able to lend much-needed funds to those that are really in need while still making decent profits in the process. As such, this lending plan needs to be effectively monitored to ensure that the above-mentioned strategic goals are being achieved (Klubeck, 2011). To facilitate this process, a number of Wal-Mart’s business metrics will have to be regularly analyzed to ensure that the plan is achieving its intended goals. First and arguably most importantly, customer loyalty and retention will have to be analyzed (Okes, 2013). This metric will measure the loyalty of customers and particularly those that are beneficiaries of Wal-Mart’s lending plan. A higher rate of customer retention and loyalty will indicate a satisfied customer base, which will make it easier for Wal-Mart to align their future plans with their customer needs.
In a similar vein, the cost of customer acquisition will also be important in this plan. By spending as little as possible and attracting as many customers as possible, Wal-Mart stands to expand its lending plan further, which only signals increased profits in the future (Eckerson, 2010). The amount of money that is lent out to customers will also need to be closely monitored to ensure that Wal-Mart does not lend more than it can afford to risk, hence avoiding any pitfalls that may arise from bad debts. Positive figures in the above-mentioned metrics will indicate a successful plan implementation, and for this reason, Wal-Mart has to constant...