Current Challenges Walmart Faces and Solutions:

a) E-commerce Competition: Walmart faces intense competition from online retail giants such as Amazon, as well as emerging e-commerce players. This requires adapting to the changing landscape and finding ways to enhance the online shopping experience.

Solution: Walmart can continue to invest in its e-commerce infrastructure, including website optimization, mobile apps, and delivery capabilities. Expanding its online product assortment, offering competitive pricing, and providing personalized recommendations can help attract and retain online shoppers.

b) Labor Management:Labor-related challenges include employee turnover, maintaining a skilled workforce, and managing a diverse workforce across different locations.

Solution: Walmart can focus on employee engagement, providing training and development opportunities, and offering competitive compensation and benefits packages. Implementing advanced workforce management systems can optimize scheduling, ensure adequate staffing levels, and provide real-time communication channels for employees.

c) Regulatory Compliance: Compliance with regulations and laws in different regions can pose challenges, including labor laws, environmental regulations, and data privacy requirements.

Solution: Walmart should establish a dedicated compliance team that stays up-to-date with local regulations, conducts regular audits, and ensures consistent adherence to legal requirements. Collaborating with industry associations and local authorities can provide valuable guidance on navigating complex regulatory environments.

d) Customer Experience: With increasing customer expectations, providing a seamless and personalized shopping experience is crucial for Walmart's success.

Solution: Walmart can leverage data analytics to understand customer preferences, personalize recommendations, and improve the overall shopping experience. Investments in technology, such as self-checkout systems and mobile payment options, can streamline the purchasing process and reduce waiting times.

Overall, Walmart can address these challenges through a combination of technology adoption, collaboration with suppliers and stakeholders, investment in sustainability initiatives, and a customer-centric approach.

question:

1. Were there differences between your opinions on subjects and that of the speaker? Why is there a difference in opinion? How would this impact your future business decisions?
2. Was there anything that surprised you? How has this changed your perspective on business?
3. Are cultural differences enough to stop you from expanding a business into other countries? Why or why not?
4. What are the factors you will consider in your decision to make or buy a product/service?
5. How will you conduct supplier's assessment, selection, contract negotiation and management?