Bigmart from using top-down method of strategic planning

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Reference no: EM132204509

The practice of strategic planning varies among international companies and over time. This exercise examines key differences in the kinds of strategic plans that are developed and the methods used in developing these plans. This exercise also examines trends in terms of who is involved in strategic planning, how the planning is done, and the contents of strategic plans.

Read the case below and answer the questions that follow.

BigMart, Inc., operates an international network of large retail stores offering a broad array of consumer goods, ranging from clothing to housewares to packaged food items. Although their business is growing, especially in international markets of Latin America and Asia, competition in this price-sensitive retail sector is intense. BigMart must ensure that every store carries the range of products that meet the needs of each particular geographic market that the company competes in, while simultaneously controlling costs. Achieving this means that BigMart relies on close coordination among the various functions of the company (e.g., purchasing, logistics and information systems, retail operations, human resources, financial, and administrative) as well as carefully managing its relationships with external stakeholders such as suppliers.

a) What are some of the potential benefits, and concerns to BigMart from using a top-down method of strategic planning?

b) What are some of the potential benefits, and concerns to BigMart from using a bottom-up method of strategic planning?

Reference no: EM132204509

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