Discuss about the IOSR Journal of Mechanical and Civil Engineering.
The Woolworth is identified as one of the most popular retailer shops of Australia. The organization is expanding its root worldwide and they are also managing concept of business on an organized level. The expansion of the business on the overseas level is identified as the most definite way to develop the business perspectives. There are various reasons of expanding the business on an international level. Some of the reasons are coordination with the customers, generation of the revenue, management of the products and other aspects. The report shown below is the solution for the expansion of the business on a wide level. Some of the most highlighted points are specified below in the form of points.
The report shown below is considered as the formal report, which is helpful in highlighting the various sections which are defined below in a suitable format:
The company is identified as one of the most popular and well recognized retailer shops. It is colloquially identified as the Woolies with its specific identity in Australia. The organization has its priorities in selling and managing food products like milk products, meat, tinned products, dairy products and packed products. There are approximately 980 stores worldwide, which are running successfully. The first store of Australia was laid down in the year 1924 in Sydney (Woolworths Team, 2017). After this store, there are various subsidiaries of the company that are being opened in the nearby areas. The organization is full of services and possesses a strong vision to attract more and more customers towards themselves. There are various opportunities and processes identified which are helpful in promoting the process in a proper direction. The organization is also successful for surviving in the market and also able to manage its competitors in a definite form. Nearly, 35% of the total population of Australia is purchasing the products from the nearby stores of the Woolworth. The expansion of the product and the selling of product in the worldwide market are increasing its publicity on the international level too.
The local existence of the market is organized and managed, but the international expansion and processing needs a special platform and focus too. The major purpose of selecting the organization is the expansion of the market on an international level (Ordonez, 2016). Though the organization is performing well on a local level and sale of the organization is also remarkable, but on an international level, if the Woolworth switches towards the Europe, the opportunities will get increasing simultaneously.
For introducing a new concept of business and to make a suitable investment in the market, the country which got selected here for this report is the Eastern European country. There are various trade policies and trading perspectives mentioned in the Eastern Europe. The other small countries which can contribute in the trading aspects are named as the Belarus, Moldova and Russia. The trading aspects are mainly conducted in two sections. These are identified as the Eastern section and Western section. To manage the balance between these aspects, the two sections are mentioned on priority. To manage the equilibrium in both the aspects, the section is divided into two parts. The famous researcher Neal also defined that the concept of trading and aspects related to it are also improved from the year 1940. Before that, the trading aspects were not managed in a definite manner. Due to this unorganized management, Woolworth also didn’t invest in the areas of Eastern Europe. Since the developing perspectives are described from that time, the trading aspects and the expansion of international business were also magnified. The CDP-ECOSOC committee is identified as one of the group which may help in defining the most appropriate trade policies for pursuing the international trade and criteria related to it. Apart from these details, the economic and financial aspects of the organization are also framed. This will be helpful in promoting the various trade policies on a specific level. Other than these general details, some of the details related to the PEST analysis are defined below in the specific manner.
The overseas expansion is identified as one of the criteria on the basis of which, the evaluation of the organization can be considered (Gupta, 2013). The overseas expansion may also aid in supporting the financial as well as the economic aspects in context to the organization. Apart from this, to increase the sales of the product and to make it global identity, the overseas expansion for the products is required majorly
Macro analysis of the country is successful in delivering the most specific approaches in a specific way for performing the trade worldwide. The macro analysis will assist in framing the most specific aspects for the business improvement in the proper direction. But, before initiating any new concept in the market, it is essential to manage the PESTLE analysis of the country. This will be helpful in managing the business and also improves the output related to the business.
The political environment of the country is quite flexible and manageable in comparison to the other countries. As the Eastern Europe is identified in the manageable mode, so it is compulsory for the country to generate some flexible rules. By the help of this, most of the trading opportunities will be identified on a wide level. Apart from this, the legal aspects of the country are also well developed and identified. Before introducing the concept of new business, legal formalities are less in numbers. The passing of new projects, management of new trading perspectives and identification of innovative trading ideas are some of the aspects which should be legally sanctioned. For all these processes, the legal perspectives are not very tough. The easy processing of the legal aspects will be mentioned on wide landscape. In fact, the introduction to the new concept and approval from the organization can easily be done with the help of legal authorities (Kolios & Read, 2013). These authorities are successful in delivering the best approach for the organization (i.e. Woolworth). By making the legal aspects easier, the trading perspectives may also become more reachable.
For Woolworth, the financial ups and downs and management of resources are identified as the common situation to be handled. But, while introducing the business in a new country, various economic perspectives are noticeable. The main criteria are related to the profit generation. The changing economy and fluctuation in the market aspects are considered as the noticeable changes. So, it is essential to cope up with the continuous changes which are being observed while introducing the concept of business. Some of the common aspects which are being observed in the economic market are identified as sudden increment and decrement in the share value, strong competition in the local market, a sudden increment in the prices of product and the introduction of new retail chain with the concept of different price (Leuven, 2016). The European integration is also identified which may help in introducing the concept of support and suitable management for introducing the new concept of the business in the international market. By identifying fluctuations in the global market, management of economic perspectives may become easier. In fact, the Woolies can also plan their definite approach in the suitable direction, so that, the situation can be managed and in a controlled manner.
The culture and ethics followed by the Eastern European countries possess different life style and cultural aspects. Before proceeding towards major aspects, it is essential to identify a definite location for opening the store. This identification of the store will be helpful in promoting the business in a definite manner. The European life style is free and people from every age group tries to purchase the products from the nearest areas. The products related to the daily requirements are also purchased by the people locating in nearby areas. As per the cultural aspects and the demand of the products, it should be kept in the stores (Mahara, 2013). This will be helpful in improving the sale of the products. The cultural values of the organization will be helpful in promoting the sale of definite product.
Ethically, the customers are very particular about the food products. According to purchasing and the likes of the customers, the stores have to keep the products. The location and specific products restricted according to that may also help in managing the aspects related to the organization. The preparation of bill receipt, management of the orders defined by the customers, proper arrangement of the stock and suitable clearance of the stocks are managed by the organization only. This will assist in managing the organization in the ethical manner. This ethical aspect may also increase the trust of customers in the correct direction (Callahan, 2006).
The last aspect relates to the technical perspective. The technical perspective is identified as most developed and approaching aspect, which may be helpful in providing the suitable assistance in a correct direction. The technical perspectives are considered as one of the supporting features, which assist in changing the actual perspective related to the trading. Similarly, in promoting the trading perspectives of Woolworth, the technical backbone of the Europe helps a lot (Tirole, 1991). For promoting the online business facilities, the European country is successful in delivering the most promising software which may provide suitable feedback for the processing in a framed manner. Some of the common softwares that may help for the calculation are related to the SAP, Database & multiple calculations and many other aspects. Apart from this, the most advanced and well approached range of softwares are also defined which may help in promoting the working perspectives (Mussida & Sciulli, 2016).
Performing the business on an international level is not considered as an easy task. There are various challenges that are faced by the managers as well as the business on the specific level. To overcome these challenges and to manage the business, it is essential to get them resolved on a definite level. The business promoting managers should be diversified in nature. The different services and the presentable nature of managers helps in providing suitable assistance. The managers also face the issues related to the language and culture. They have to manage the circumstances as per the cultural aspects related to the country (Patton, 2010).
Apart from this, the business itself has to face various challenges. Some of the common challenges that a business (i.e. expansion of Woolworth) is facing on the wide level are also defined briefly. Firstly the management of specific identity on the international level is the biggest challenge which the organization is facing. Secondly, the organization faces specific issues related to the cultural aspects. The adaptation according to the culture and delivering of the services as per the requirement of the organization is also considered on a rapid level. Similarly, issues related to the selling of the product and management related to the product are also identified as some of the basic challenges that are being faced by the people of the organization (Singh, 2013). For managing the challenges, some of the common theories of international trade management are defined below.
To manage the business on the professional level, there are various theories mentioned, which may help in supporting the business and its expansion. The institution theory is considered as one of the most specific and promising theory, which aids in promoting the international business on a definite level. The theories also assists in providing the suitable assistance to face every circumstance related to the business. Other than this, the global management and international theories will be helpful in highlighting the most developed constraint related to the business in a proper direction. In short, the theories also act as the most promising source to manage the task in the right direction and provide the opportunities for the specific business expansion (ACCLR, 2016).
Conclusion
The above piece of work is successful in defining the basic aspects related to the Australian business on a wide landscape. The trade policies and basic structure related to the trading is also mentioned on the definite level. To manage the trading on an international level, various planned and structured steps should be identified. The promotional aspects will be more developed and properly defined. The management related to the international business also needs to be focused on the definite level.
References
ACCLR. (2016). The challenges of growing a business – and how to meet them. Retrieved from https://www.infoentrepreneurs.org/en/guides/the-challenges-of-growing-a-business—and-how-to-meet-them/
Callahan, W. (2006). Institutions, Culture or Ethics? Governance in Europe and East Asia. University of Manchester, England . Retrieved from https://ecpr.eu/Filestore/PaperProposal/dc701a4b-96c8-400f-9b8b-a00938d9be68.pdf
Gupta, A. (2013). Environment & PEST Analysis: An Approach to External Business Environment. International Journal of Modern Social Sciences, 2(1), 34-43. Retrieved from https://modernscientificpress.com/Journals/ViewArticle.aspx?YTDXIp8pwb35qABc+2BV/1WJUQnMuLGNSj0NcUX/H4nrYH2pOUyBFV904kXBzuJV
Kolios, A., & Read, G. (2013). A Political, Economic, Social, Technology, Legal and Environmental (PESTLE) Approach for Risk Identification of the Tidal Industry in the United Kingdom. Energies. Retrieved from https://www.mdpi.com/1996-1073/6/10/5023/pdf
Leuven, K. (2016). Economic Aspects of European Integration. Retrieved from https://onderwijsaanbod.kuleuven.be/syllabi/e/D0M09AE.htm#activetab=doelstellingen_idp5565936
Mahara, T. (2013). PEST- Benefit/Threat Analysis for selection of ERP in Cloud for SMEs. Asian journal of management research, 3(2), 365-374. Retrieved from https://www.ipublishing.co.in/ajmrvol1no1/volthree/EIJMRS3031.pdf
Mussida, C., & Sciulli, D. (2016, February 25). Disability and employment across Central and Eastern European Countries. IZA Journal of Labor & Development. Retrieved from https://izajold.springeropen.com/articles/10.1186/s40175-016-0049-7
Ordonez, C. (2016, January 26). Analysis of Supermarket: Woolworths, Coles & Aldi. Retrieved from https://prezi.com/pmbwbbcxxz_p/analysis-of-supermarket-woolworths-coles-aldi/
Patton, G. (2010). Common Organizational Challenges. Retrieved from https://www.gotogms.com/commonchallenges.php
Singh, D. (2013). Managing Cross-cultural Diversity: Issues and Challenges in Global Organizations. IOSR Journal of Mechanical and Civil Engineering (IOSR-JMCE), 3, 43-50. Retrieved from https://www.iosrjournals.org/iosr-jmce/papers/ICRTEM/ME/Volume-3/IOSRMG002.pdf?id=7622
Tirole, J. (1991). Privatization in Eastern Europe: Incentives and the Economics of Transition. Retrieved from https://www.nber.org/chapters/c10984.pdf
Woolworths Team. (2017). Woolworths official website. Retrieved from https://www.woolworths.com.au/: https://www.woolworths.com.au/
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