Reasons for Failure discussion
Read the discussions below, write response for each and explain reasons for failure discussion.
Discussion 1:
Walmart is one of the fortune 500 companies that have existed and thrived for a long time. Walmart was started in the year 1967. Despite the various challenges along the way, the company survived and has thrived for its excellence in multiple ways (Muñoz, 2017). First, Wal-Mart experiments with minimum risk. Walmart considers ensuring its business regarding various risks such as financial crises and fire outbreaks. The insurance protects the company from getting destroyed in case a threat materializes.
Despite the significant political changes over the years, Walmart always ensures that it aligns with the rule of law. While political changes take place, the rule of law guiding business takes effect. By obeying the law, Walmart is saved from the massive losses that many legal suits could cause.
Walmart adopts the agile form of management and operation. The firm changes with the changing demands in the market. With time, Walmart has accommodated the use of modern technology in its operations, thus ensuring the effective matching of current needs. Using better practices enhances efficiency and remaining in business in the long run.
Leadership fits in every aspect of the business. The strong leadership of Walmart enables the firm to meet the expectations in the market (Muñoz, 2017). The administration is agile and therefore changes operational tactics with the market demand changes. Quality leadership offers an excellent opportunity for the firm to thrive while meeting the expectations of all stakeholders.
References
Muñoz, C. B. (2017). Building power from below: Chilean workers take on Walmart. Cornell University Press.
Discussion 2:
An organization that comes to mind when I think of a business that has been around for a long time would be Disney. Walt Disney was not successful with his first few attempts at starting up a business, but he never gave up. His best creations came after his biggest failures (Mitsis, 2021). Walt Disney never settled, he was always trying to think of how to make things better and more fun, being innovative. This innovative spirt is what lead Disney to continually change, update and take risk.
Disney is now a versatile company, they have theme parks, streaming, movies, cartoons, cruise ships, and merchandise. Disney has been a business that has learned to change with the times and constantly being innovative. This company has pushed its own boundaries from animation to what it is today. This constant change and expansion was not something that happened over night, since the opening of Disneyland in 1955 the company has made many strategic moves to expand (Mitsis, 2021). The next big change was the addition of Disney having its own premium channel and this was not just in the United States it was globally. Then realizing that the times were changing yet again so the Disney Company decided to move into the online streaming. Once Walt Disney passed away the company suffered from the lack of successful productions (Mitsis, 2021). But the company started to reinvent and add new and exciting things to the parks, channels and streaming to keep the customers coming and interested.
Leadership within Disney all rely on one another for inspiration and collaboration even though each division is very different from each other. The organizational structure of the company helps to facilitate the operations and global operations seamlessly.
Mitsis, C. (2021, August 5). How Disney became the world’s entertainment leader. Strategy Study. Retrieved February 13, 2023, from https://www.cascade.app/strategy-factory/studies/disney-strategy-study
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