Wal-Mart has been in business for many years and are showing no signs of slowing down. The advantage of being in business for that period of time is building a reputation rather it be good or bad. Overall for the most part it has been good, thereason for the company have good success is being open to change. Wal-Mart cannot continue success if they were not open to change and new innovative ideas. The reason companies start to fail is because of their mental model and mindset.
The mental model and mindset are a comfort zone for some businesses because they are accustomed to a way if thinking or a way of doing things without being creative or coming up with something new. At Wal-Mart or any business, management has to be ready to change the mental model and mindset to stay on top of the business. This document will go into four steps of changing the mental model and mindset that has to be embraced at Wal-Mart. Steps To Change Mental Model and Mindsets.
For Wal-Mart to continue its long-running success, the company needs to realize that there are changes that need to take place from time to time. The first step to change the mental models and mindsets is to recognize the power and limits of mental models (Wind, Crook, & Gunther, 2005). If Wal-Mart believes that because they are strong they will always be strong, then they will surely fail. By implementing the first step, Wal-Mart can overcome the negative side of their mental models that they currently see as positives.
Not all mental models are negatives. In addition, not all negative mental models start out as such. Some of them are positive at first, but evolve into negatives as a result of the current events and issues. For example, Wal-Mart may currently view all Japanese made electronics as superior. So they may only sell these electronics. Although it may be true now, in five years Japanese electronics may be the worst choice for consumers. If Wal-Mart realizes the limits of that mental mindset, then they will be more inclined to change electronics providers.
The second step to change the mental models and mindsets is to keep your mental models relevant (Wind, Crook, & Gunther, 2005). Relevancy in the business world is crucial if a company is to stay successful. That is true for mental models and mindsets as well. For Wal-Mart to keep their mental mindsets relevant they need to create a small department within the company that monitors current business trends that affect their sales. For example, (as previously stated) if Wal-Mart believes that Japanese electronics are of the highest quality, then they need to use the new department to monitor other company’s electronics quality.
If Japan suddenly starts producing electronics that are of low quality, then the department would need to have a backup company or country that they could start buying products from. These products would have to be of the same or better quality than the original Japanese products. Steps To Change Mental Model and Mindsets The final two steps that are required to help Wal-Mart during the change of the mental models and mindsets is the process of overcoming inhibitors to change and being able to transform its own world of business.
In order for Wal-Mart to overcome inhibitors to change they must dismantle the older order and find common ground to bridge adaptive disconnects (Mitroff & Linstone, 1993). As a business Wal-Mart must be able to adapt to changes that may arise and be able to act quickly on mental models and mindsets that need to be corrected. Wal- Mart must consider any obstacles that could come from dismantling the older order of process. In a business nothing is ever set in stone, so if a particular item is not selling well, it must be relocated to where customers have a better visual of the item or simply take the item out of the shelves.
A good strategy would be to somehow find common ground to bridge any potential adaptive disconnects. Wal-Mart has a strong relationship with its vendors and suppliers but most importantly its customers. Any miscommunication or disloyalty with these types of resources could cost Wal-Mart significantly. Being able to find common ground that makes business sense would be the best approach for Wal-Mart to take whenever a mental model mindset needs to be corrected. The final step is for Wal-Mart to be able to access models quickly through intuition to ransform its business world by developing and refining its own actions (Mitroff & Linstone, 1993). Wal-Mart is notoriously known for having one of the best bargains in its industry but could improve its business even more by implementing new models or mindsets that may be necessary to elevate the company to higher standards. Allowing customers to fundamentally understand the concepts and actions that Wal-Mart could potentially transform would be a pivotal point of emphasis for the company to implement.
Conclusion. This document has just introduced the four steps in changing mental models and mindsets through hard work and dedication. Also mentioned is the fact that nothing is set in stone when it comes to running a business, a successful business. At Wal-Mart understanding your products or the way you want to sell your products is very crucial in staying productive. If a product or service does not meet the set standard then as stated earlier the mental model and mindset has to be changed and during those changes, Wal-Mart has to stay relevant and undented to the consumer. This will show the customers that time and effort is spent into this well oiled machine.
Mitroff, Ian I. and Harold A. Linstone. The Unbounded Mind: Breaking the Chains of Traditional Business Thinking. New York: Oxford University Press, 1993. Wind, Y. , Crook, C. , & Gunther, R. (2005). The Power of Impossible Thinking: Transform the Business of Your Life and the Life of Your Business, 1e. Retrieved from ecampus. phoenix. edu.