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Internal business process perspective
Internal-business-process-perspective entails identification of various processes which are critical in a firms effort to attain the shareholders and customers objectives (Lessem, 1998, p.140). Through incorporation of internal-business-process-perspective, a firms 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.
In its operation, Wal-Mart Stores Inc. has integrated the concept of internal-business-process-perspective. The decision arose from the firms committed of ensuring that its operations result into a high level of customer satisfaction. In addition, it is the firms objective to ensure that the shareholders wealth is maximized.
Internal-business-process objectives
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 firms 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 customers 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 firms 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 firms 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 firms objective to improve its post sale services will also contribute towards attainment of the firms mission of ensuring a high level of customer service. This objective is also related to the firms 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 customers present and future product requirement will enhance the firms objective to attain a strong corporate culture by establishing a relationship with the customers.
Moreover, the three objectives have a relationship with the firms 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 firms 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.
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 firms 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.
Conclusion
The above objectives are critical in the firms 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 firms objectives, targets, measures, and actions in relation to internal-business-process-perspective.
Reference List
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.
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