Woolworths Business Report: Analysis Of The Company’s Growth
Question
Task
What you are required to do;
You will be supplied on Moodle with initial industry research on either of three nominated industries and some information on the company assigned to you by the lead lecturer, for which you are to develop a strategic plan. The format of the situation analysis will be outlined to you during the lectures. You are to use the techniques which will be covered in the first 4 lectures as the basis of your analysis. Simply restating research data without your critical analysis will not be acceptable. You must identify the major issues with which the company must cope in your analysis.
You will need to supplement this research with your own research.
Students are required to undertake a detailed analysis of the nominated market in Australia and the external factors affecting that industry. The analysis should cover market structure, segmentation, distribution channels, competitors and trends for the total market. In addition, you will also be required to undertake an internal analysis of your chosen company in order to identify their core capabilities and competencies and any competitive advantage they may possess. From this analysis you will highlight the key issues facing the industry and the company and put forward an initial range of potential future strategies which the company may consider.
Answer
Executive summary:
In this woolworths business report the main subject is to put on light on a reputed super market company named Woolworths Supermarket. In this woolworths business report there is a brief discussion about this company’s growth by planting some process that gives this company a push towards its success. With this report it is come to know how the proper gaming plan this company has gave the satisfaction to their customers. There is also a view about this company’s business profits and the strategies they take for their company’s growth. This woolworths business report is written to give the core idea about a successful business industry Woolworths and their way to success goals.
Introduction:
In this woolworths business report there is a depth outlook about the situations of an Australian Supermarket company Woolworths. This WoolworthsSupermarketCompany is located at BellaVista in Australia. Woolworths Limited owns this supermarket. This reputed organization has founded from 5thDecember, 1924 (Friedman, 2018). In this Supermarket company there is 1, 50,000 employees are involved in their work. This supermarket company has provided grocery, fruits, packaged food, meat, stationary items and many more items. There are near about 1000 store are located all over in Australia (Botkin, Elmandjra & Malitza, 2014). Organizational parents of this company are WoolworthsGroup. This company has done their level best and take their company on pick of success from any other company. In this woolworths business report, there is a view this supermarket company’s marketing situation, financial conditions, competition with other company and the strategies that give this company another name and fame (Saéz et al., 2015).
Market size and trends:
WoolworthsSupermarket is one of the biggest retailers of Australia. As per report of 2018 Woolworths enjoys better return from the small business (Turker & Altuntas, 2014). This reputed company has 31% market share in retailing that gives the more profit to this company. This company is considered to one of the biggest contributor in Australian economy producing 4.1% of GDP or $53billion in this country (World Health Organization, 2014). This company has also spread its business in NewZealand. In NewZealand there are near about 156 store are opened that is not bad for this business. This gives the extra points and profits to this reputed organization (US Department of Health and Human Services). The trend also put its impact on the reputation of WoolworthsSupermarket. In this supermarket store people can get grocery items, packaged food, fruits, stationary items, health &beauty supplements, pet and baby supplies, house hold items. This company has also sold its own magazines. Many people of Australia have chosen this supermarket as their first choice. A number of people are mainly liking the products that this company has provided in low price is a plus point for this company’s reputation (Moon et al., 2015). The marketing area of this company is very strong. As per report this company has get enough profit in present day.
Financial and corporate performance:
Woolworths Supermarket is doing their best in the business market. The financial conditions are growing well. This company has provided their goods in low price. For that the customers have chosen this supermarket as their choice. The qualities of products arebetter than any other company that gives the extra marks to this reputed company. As per report of 2018 the Woolworths Group has done their level best. In this year their sales/revenue is 56,965 that is very good for this company’s way of profit and better than earlier. The net profit of Woolworths Company this year is $2.5billion (Csikszentmihalyi & Larson, 2014). That amount of increasing from last year is 6.1%. The corporate performances are also good of this reputed company. The team of Woolworths Company always ready for their company’s growth. The employees who are working in this company are always busy in their work. They are always busy to think some innovative thought. This company has executed its most typically financial, important parameter and market share holder performances. Last year this reputed company has invested their little amount but they have got more profit with this business. The above concept is the profits that this company has earned give the super success to Woolworths Organization.
SWOT and competitive advantage:
Strengths: This company has already hold 80% of shareholder that decrease the chance to compete with other rival companies. This company has enough trust about their brand that is highly recommended by the customers. Thus decrease the threat of competition.
Weakness: This company has needs to work on managing perception and balance management across income strata. This also helps the company in increase their business by almost 55% (Larson & Csikszentmihalyi, 2014). Woolworths Group’s business experts also implanted some additional benefits to the employees. The extra bonus and high salary of employee give the courage to do their works faithfully.
Opportunities: Woolworths Company has good customer tracking system. They also provide the good facilities to the customers. They have home delivery facilities that bring the company different mode of activity. They are keeping the customer shopping bills and give the assurance that they have enough stocks and they can provide that without any issue. They also give the promotions to those customers who are shopping in their store in regular basis. They inform the customers about the offers are running. This company always tries to sell their products in low price for that they have more customers who give them the profit in their business area.
Threats: Competitors’ market strategy has remained a major threat for Woolworths. In current business scenario, Coles is the primary competitor of Woolworths.
Strategic options: To achieve the goal of success Woolworths has implemented some strategies:
They always want to give the first priority to their customer. They know the values of customers. The customers are the only object who gives the profit, fame and the success they want. They are always culturing the customers need. With this they are trying to meet their customer hunger in different ways they can.
In present day, Woolworths Organization is trying to put their impact in their Drinks Business (Adams, Tenney & Pew, 2017). They are creating some innovative things that differed the new one with the oldest one. The people of Australia always love to drink. To keep this thought in the mind the WoolworthsGroup are trying to do something different in their.
Drinks Business: This company is planning how to stay connected with the customer easily. They are using social networking sites to being connected with the customers of Woolworths. It helps the company most in this business.
This company has made their own portfolio where they are unlocking their value. With this the customers come to know about the products of this reputed company that helps the company to get profit in this business by their customers.
They always think about the customer satisfaction. For that they want to provide the best qualities to the customer and always want to keep their stores full.
Recommendations: To more growth Woolworths need to more concentrate on the products that are supplied to the customers. The online store has need to more improvement. Supply chain should be checked repeatedly to avoid the worries about the competitions with their rival company. This company has to obey the rule and regulations that are applied for reduce cost. WoolworthsGroup has to pay more attention in controversial operation with the supplier. This company should have to solve their delivery issues that are bringing headache to this company’s reputations. Sometime online store of this company is creating problems in product delivery and dealing with customer. It is recommended in this woolworths business report that this company should pay more attention to solve these problems. The quality issues are another big issue. They should have to improve the qualities of the products they are selling in the store. They should have to keep the objections that customer dose and have to solve with their some interesting way by giving them their promotions. If the customer issues are solved then all problems will be shot out step by step.
Conclusion:
The overall task has provides an outlook of WoolworthSupermarketCompany’s business statement, their profits and their strategies. It is concluded in this woolworths business report that this it is come to know that this company is running successfully in present day. The business planning and implementation of innovative thing help the company most. This company has improved their business in interesting way. By giving the first priority to the customers they have won the customers’ trust that is very important to gain their reputation in business market. The shareholder that the company has, give the extra mark in marketing area. In this report it is clearly shown that the company has enough potentiality to fight against the problems. If the company can solve some smaller issues then no other company can compete with this reputed company. These all are showing the positive side of this company. This woolworths business report also provides how the company has reached their success goals by implanting some strong steps. The customers are getting more satisfaction from this company. For that they are not thinking about to go any other company to meet their need. Woolworths business report assignments are being prepared by our professional business assignment help experts from top universities which let us to provide you a reliable assignment help Australia service.
References:
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Friedman, F. (2018). The Bosnian Muslims: denial of a nation. Routledge.
Larson, R., &Csikszentmihalyi, M. (2014).The experience sampling method.In Flow and the foundations of positive psychology (pp. 21-34).Springer, Dordrecht.
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