Wal-Mart Lending Plan: Strategy and Communication Channels

COMMUNICATION PLAN: WAL-MART LENDING PLANByInstitution
Communication Plan: Wal-Mart Lending Plan
The Lending Plan by Wal-Mart is essential in aiding the company gain a competitive advantage. Proper management of the plan is important for its success, so that the community, stakeholders and the business benefits immensely in the end. This communication plan seeks to highlight the method of disseminating the action plan to all stakeholders.
Strategy and Communication Channels
The reason for implementation of the action plan is to achieve a value based business activity, which aims at increasing customer base with the long-term goal of gaining perpetual profits (Allen, 2009). It is essential for the beneficiaries and the company to maintain a high level of responsibility by adhering to the loan requirements and managing the process effectively. The beneficiaries shall receive short-term loans with lower interests to use within Wal-Mart, while the management shall ensure all loaners comply with loan requirements and pay on time. Profit is essential for any businesses and the aim of this business implementing this plan is to gain profits, while enhancing the lives of its customer and the community (Li & Sui, 2016).
Both informal and formal communication strategies shall be of use in creating awareness among the stakeholders. The management shall use presentations and action plan leaflets during staff meeting or board meetings to highlight the progress and plans of the initiative (Lapointe & Beaudry, 2016). Additionally, the company shall use e-mails or phone calls to engage staff members, especially from critical departments such as supply, purchasing, and finance departments to assess the impact of the initiative. The company shall reach the beneficiaries through brochures, company website, social media page, annual general meetings, advertisement, and information on receipts by capturing key languages used by the lenders. The company will offer brail scripts to blind beneficiaries.
Goals o...