Hello all! We have conducted this meeting to discuss the overall strategy of our organization and the manner in which it has been able to ensure a strategic success in the competitive and advanced VUCA environment. The business environment can be stated to be very dynamic in nature and with respect to this, it has become very crucial for the different firms to ensure that they are successfully able to undertake a key analysis of the external environment which would assist the firm in ensuring considerable success in the long run. Our organization, the Woolworths Supermarket group has been in the business since a long period of time and has held the major share of the Australian supermarket. I am the CEO of the firm and hence, I have held this meeting in order to highlight the overall planned strategy of the organization and also discuss the different factors which have led to the particular strategy selection at large. The presentation will discuss the overall mission and vision of the firm which will then be followed by the discussion of the different factors of the external and internal environment. Based on this, the overall strategy of the organization will be discussed and the implementation strategy which the firm can adopt will also be discussed at large.
The Woolworths Supermarkets can be stated to be an Australian supermarket and grocery store chain which is involved in selling groceries like fruits, vegetables, packed food, household products, DVDs, health and beauty products along with pet and baby supplied along with other stationery items at large. The company has more than 1000 stores across Australia and some convenience stores as well with the same logo which helps them to shop goods and other related products. Along with this, Woolworths online is also present which sells goods in the online domain.
The company was found in the year 1924 under the name Wallworths Bazaar Limited and later turned out to be Woolworths Limited in Australia, The Company opened its first store in the Bargain basement whereby it looked to it that the brand offered all considerable products at a considerable price. The firm begun to perform well and with respect to this, they started gaining the attention of the employees and began to sell a large number of products like grocery, stationery and others and along with this, the company also offered a money back policy which further attracted the different consumers at large. As the firm began to gin success it began its transition from just a normal grocery store to a store which used to sell various other products as well. Currently, in the year 2018, the firm has made more considerations to ensure that it bans the use of the single use plastic bags during the procedure of checkout along with the brands like Coles and in the first three months, the firm has been able to make considerable improvements and improved upon the waste reduction which can be considered to be a good move and would not have been possible without the contribution of you, the employees who have stood as the backbone of the firm.
The vision of the firm is to satisfy the needs of the consumers and provide them with the best products whereby the mission of the company has been to find success at every region and keep expanding the business by successful amalgamation of employees and management.
The internal environment analysis along with the external environment analysis forms a major part of the organization and contributes towards the formulation of the strategy which then assists the various organizational members to engage in a strategy which will be beneficial for the overall welfare of the firm at large. The internal analysis of the organization was done using the SWOT analysis and I would like to present the analysis of SWOT as follows:
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1. It is one of the oldest as well as the well-known retail brands as present in Australia. 2. It has a large market share 3. It offers a large product to the different customers. 4. It has a sustainable CSR program 5. It shows a strong commitment towards the different employees as present in the organization. |
1. The firm took considerably late entry in the online domain. 2. Furthermore, it has been losing out on its competitive advantage. 3. The company lags international presence. |
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1. It can produce in house label products to win over the customers. 2. The brand can engage in better promotions to win back the different consumers. 3. It can use social media to win over the customer base. |
Competition with respect to Coles is one of the major threats. Aldi`s aggressive growth strategy Slow growth of online retail in Australia. |
Moreover, the external analysis which helped in the strategy formulation is the PEST analysis and has been presented as follows for the employees to understand it. The PEST analysis of the firm has been done as follows:
Woolworths Limited has not been a dormant firm and has taken considerable efforts to ensure that it is successfully able to take various strategies as well as initiatives which will then go a long way in ensuring success. The different strategies as adopted by Woolworths can be stated to be as follows:
Hence, after the given analysis, it can be recommended for the firm that it adopts an internationalization strategy, the firm has been present in the business environment since a long period of time and will be able to benefit largely if it is able to successfully use these advantages to their benefit in the external environment of the firm.
At first Woolworths would be required to successfully analyze the country whereby the firm would like to conduct the business and then it would be required to accumulate the resources with respect to which it would like to use in its plan.
The different challenges are as follows:
Hence, for this purpose the success will be measured in the following manner:
Hence, if the employees will be able to successfully provide their contribution, the organization will be able to achieve its long term goals as well as the objectives easily and any feedback as received will be appreciated.
Regards
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