A corporation is a legal entity which is separate from its owner. A corporation enjoys all the facilities like an individual entity. The corporation has all rights to get into a contract and form legal relationship with the third party. A corporation is often referred as a legal entity.
A corporation under its name deal into different form of business in order to conduct normal course of business. It is therefore necessary for an organization to operate with different portfolio within an organization. This will help the business to earn sustainable profits (Jobber and Ellis-Chadwick, 2012).
The given report is based on the retail giant Coles and its business Strategies in order to attain a concrete market growth. The corporation in the recent time has helped Wesfarmers to attain a significant market share. Coles is efficiently running the retail chain in all over Australia through more than 700 stores. For the purpose of attaining excellence in the business Coles has formed effective relationship with the investors and suppliers. They are only selling the products from different suppliers but also manufacturing their own products. They have a whole product line of its dairy products, gluten free products etc. These products form to be an important part in revenue generation.
The Australian super market chain is owned by Wesfarmers was founded in the year 1914. It is a huge corporation with more than 741 stores located in all over Australia. The giant has employed more than 1, 00,000 employees together with Woolworths. Together they have occupied almost 80 percent of the total Australian Market. The retail giant was founded by G.J Coles when he opened his first retail store in Melbourne. The store saw an expansion in the year 1958 by acquiring 54 John Connell Dickins grocery store. The company is currently using heavy handed technology to form effective relationship with the dealers. The brand has adopted various branding and advertising strategies in order to take over the whole Australian market. The brand is using aggressive advertising and promotion strategies and changing the course of retail industry in Australia. The brand introduces multiple schemes for their loyal customers. They introduce different loyalty programs that have helped in seeking attention of customers across Australia. The employees at Coles are given special training in order to uphold their commitment towards best practices. Everyone at Coles is aware about the efficient practices that need to be followed. They have a commitment towards ethical practice and hard work in order to attain high level of efficacy. The different product range sold by Coles are highly revenue generating and forms to be an important part to Wesfarmers.
Apart from the other products Coles sell its own product range at its store. It has widened its portfolio by adding new product range. The highly competitive Australian retail market is thereby causing threat to the corporation. Under such a situation where the super cheap retailers like Aldi are also competing by selling their own product range. It has become evident for the brand to compete against other by forming effective business and marketing strategies in order to attain goals(Malhotra,2008).
Coles is currently selling its own product range which includes gluten free products and the dairy product. Apart from these product Coles has managed to manufacture other products by forming their own manufacturing unit. This has helped them to attain serious goals by identifying the current market need. In such a market scenario it is evident that the organization needs to develop market strategies that help in fulfilling the requisite goals. In a long run it is evident that the company should focus on deriving efficient market strategies in order to attain goals(Grönroos, 2007)
Coles has strategic business unit that has helped them in attaining desired results. The dairy product line is strategic business unit for the organization. The dairy product line has helped Coles in attaining distinguished goals. The dairy product line has helped them in defining distinguished business. The strategic business unit has helped them in attaining defined results. This is necessary for an individual to define effective strategies in order to form good results. A strategic investment in the business unit is required to attain targets(Lovelock,2011).
There are multiple strategic units in Coles. The report is regarding Coles. The strategic business Unit is Coles Dairy Product.
A strategic business unit is a part of business that is developed in order to attain sustainable results. The purpose of developing a strategic business unit is to increase the proficiency. The purpose of a strategic Business unit is to increase the overall revenue in the organization. The organization spends strategically on the units in order to increase business. Strategic business units have a long term profit generation portfolio of the business (Aaker, Kumar, and Day, 2008).
A product portfolio is a part of a business organization selling different types of goods in the market. it is the collection of all the products offered by a company.
There are various products that are sold under the product name of Coles. Previously Coles were engaged in selling products that are brought in from the supplier. With an increase in the competition Coles has started its own production unit. The dairy product unit has helped Coles in identifying variety of goals. It is now able to sell the quality products to the customers at a competitive price. Australia is a land to dairy products. The strategic investment in the dairy product unit will help the brand to attain desired results. Within a short period the brand is able to attain desired goals (Armstrong, Kotler, Harker and Brennan, 2012).
A product line is a specific commodity which is developed by the business organization in order to sustain competition. The product line is a specific commodity manufactured under the brand name. It is necessary that the organization need to develop strategies in order to attain desired results. The product line has developed at Coles in order to serve market unit (Gummesson, 2011).
The business Unit forms a strategic unit for Coles in deriving appropriate revenue. The strategic Unit has a revenue generation. The business Unit has a purpose to meet the needs of the customers across Australia.
The revenue center at Coles is its own manufactured products that are made in order to attain desirable profit. On a long term the dairy industry will make considerable good results. This will however help in making profits for the business unit. It is necessary that the dairy product unit provide various products that help in attaining a significant market share. There are more products that are manufactured by the company adding g sustainable profit to the company. On a long run it is desirable that the company has to make profits that help in attaining desired results under extreme external pressure. Coles is known for selling dairy products at a cheaper rate while comparing it with the other brands. It is highly recommended brand portfolio. However in the recent past there were crises regarding the price of dairy products. Farmers were not happy with the low price of dairy products that was sold by Coles.( Jain and Haley, 2009). Food and liquor sales at Coles increased by 2.9 per cent to $7.85 billion in the first quarter of the 2017.
$1 milk was the strategy of the brand in order to invest on the brand in the recent time. But there were issues as most of the milk was imported from abroad causing a huge issue. However Norco dairy cooperative, has signed a deal with Coles to supply the Coles brand of milk in northern NSW. This has helped in gaining a significant market growth within the period(Dairy.2017).
The brand has currently undertaken various different measures to provide sustainable products to their customers. For the reason to provide sustainable growth Coles has collaborated with dealers and suppliers. This has helped the brand to attain desirable growth. The super market business in Australia is doing extremely well in the present business scenario. Australia is a market to fresh business of food and it has become evident that they have diversified business looking onto the current market opportunities (Hollensen, 2015).
Revenue is the income that is generated from a business. It forms to be an important part to the business in order to grow. The organization can sustain in the competitive atmosphere if they have huge profits. The revenue center is the head business unit who has to make an investment in the business by finding specialized revenue unit(Freeman, 2010).
The external environmental analysis helps in identifying the effective business opportunity by analyzing the Political, Economic, Social, Technological, Environmental and Legal operating environment. This is an effective procedure carried out by the business organization in order to evaluate the overall business.
The political factors are the external factors that are responsible for attaining desirable environment for the business. It is therefore necessary for a business organization to understand the political environment. This will ensure long term sustainability of business (Hitt, Ireland and Hoskisson, 2012. ).
The Australian political system is feasible for the people to conduct business. It is therefore helping the retail business to grow efficiently. Coles has made efficient business investment in the field of Market investment in order to understand the market.
The economic conditions are related with the rate of inflation and purchasing power of an individual. It is evident for an individual to understand the economic feasibility. This will help the business to make considerable profits(Klein, 2009).
The economy in Australia has high purchasing power. They make a huge investment in buying goods that are important in the day-today activities. In such a scenario it is witnessed that the Economic environment is feasible in order to make long term profit.
Technological advancement is important for a business unit. It is important to understand the technology and its uses in order to understand the overall purpose of business. In today’s competitive environment it has become evident that the technology needs to be made highly efficient in order to make a huge market difference(Thompson and Martin, 2010).
At Coles the technology is used at every place and effective measures are taken in order to attain desirable growth. The technological environment is effective and will be helping the business in making desirable profits in future.
Environment safety is one of the most important concerns of a business. In such a business scenario it is important to take care of the environmental needs. This will help the business to make effective growth under extreme pressure. Environment is important for a business in order to attain profits. Sustainability is possible only if an individual give special attention to environment.
Coles is giving special attention to the environmental needs. The environment is important for a business to attain sustainable objectives. This is also very important for a business to give priority to environment in order to implement desirable changes.
The legal environment is important for the business in order to implement important policies. The legal environment helps in business to undertake desirable objectives(Newell and Peng Hsu,2007).
The legal environment in Australia is favorable for Coles. They are taking special care of the legal requirements in order to earn desirable profits. The long term sustainability is only possible if proper legal measures are taken by the company. Coles is giving special consideration to the legal environment.
Coles has a sustainable business unit that helps the business to grow under immense competition. They have a separate dairy unit that is helping the business in making desirable profits. On a long run it is desirable that the company has to make profits that help in attaining desired results under extreme external pressure. The $ 1 milk sold by the brand is the strategic move that has helped the business in earning remarkable profits(Townsend,2016).
Apart from the business unit Coles is a name across Australia for providing quality product. They are selling a wide range of products which has helped the business in attaining desirable results. . They are only selling the products from different suppliers but also manufacturing their own products. This strategy has helped the business to attain desirable market growth within a short period of time(Alexander and Doherty, 2009).
Strategic Direction is a significant enabler for governance in development projects that can draw their necessities through Strategic Goals via Portfolio Requests
the company should focus on diversifying the business which will help them to attain a desirable future growth. Coles is conscious about the well-organized practices that need to be followed. They have a promise towards ethical practice and hard work in order to attain high level of efficacy. In such a competitive atmosphere strategic direction plays a crucial role in attaining targets(Varley and Rafiq, 2014).
Conclusion
It is recommended that Coles should plan to expand in other countries as well. It is seen that the company is doing well in its own country. Expansion will help the business in attaining desired goals. The company is currently using heavy handed technology to form effective relationship with the dealers. They need to focus on developing relationship with the local dealers. This will help the business in attaining desired results. The report includes all the essentials in order to attain desirable market growth.
References
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Freeman, R.E., 2010. Strategic management: A stakeholder approach. Cambridge University Press.
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Thompson, J.L. and Martin, F., 2010. Strategic management: awareness & change. Cengage Learning EMEA.
Townsend,S.2016. Half of the major milk brands sold in Australia are owned by overseas companies. ONLINE. Available at: https://www.dailytelegraph.com.au/news/nsw/half-of-the-major-milk-brands-sold-in-australia-are-owned-by-overseas-companies/news-story/eb18d442f02bf09ccb556291cfe992c1 Accessed on: 17 April 2017
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