Wal-Mart

Wal-Mart

Introduction

New era has brought new prospects with it, in almost every domain, and the most effected domain by the ever increasing developments and the new aspects of operations, is the business arena. Gone are the days when business could be successful, by carrying out even the most conventional techniques and strategies by the companies and still manage to accumulate the desired outcome. However, the current circumstances have changed to a significant degree, and now the whole phenomenon revolves around the new considerations and implications.

Blue Ocean Strategy for Wal-Mart

As discussed earlier, the modern times have brought new implications and dimensions to the business operations of even the giants. Similar is the case with Wal-mart. In order to evade the saturation that has started to pile up in the industry, as suggested earlier, it is highly imperative that Wal-Mart creates a new market space for it, within the same industry, via adopting the blue ocean strategies.

There exists no doubt that Wal-Mart very adeptly, managed to break free from the conventional shackles of the industry's processing, and create a new and distinct market space for itself, hence bringing forth the phenomenon of the blue ocean strategy for the retail giants. Primarily, their motives in breaking free from the shackles revolved around the intention of rendering a desirable lifestyle to a common American, in the mist affordable manner (Coburn, 2011).

Moreover, the success of their strategy also lied in the fact that apart from rendering the shopping convenience to their customers (with respect to the locations or accessibility), what Wal-Mart offered was a large array of product, of different categories under a single roof. However, it will not be wrong to say that their earlier developed blue ocean is not that blue anymore. Therefore, it is highly imperative that Wal-Mart opts to tap to new unacknowledged and unattended markets, as well as the customers' space. For this purpose, the key of Wal-Mart's new blue ocean strategy shall revolve around catering to and attracting the non-customers, or the customers which were earlier ignored by Wal-Mart (Kim & Mauborgne, 2005).

Four Hurdles in Those Strategies

Undoubtedly, for numerous companies the phenomenon of the blue ocean strategy is an extremely lucrative endowment of the modern period. However, the common belief that everything possesses a downturn, as well, is applicable on blue ocean strategy too. There lie a few impediments or hurdles in the course of the successful ...