For every organisation it is important that they deal with the IS Strategy, Management and Acquisition. These terms are used to make a company differentiate from others by designing effective policies. The IS strategies help in managing the operational, administrative and strategic needs of an organisation. This report consist a detail description of Woolworth that is one of the largest organisation of Australia. The various terms that are discussed are some of the IT management structure. The governance structure and processes of Woolworth and the role of corporate officers are discussed. The ways that could be used to mitigate the risk are designed so that they can improve the changes for better success.
It is one of the largest Australian company, it has headquarters in Bella Vista. It is classified as a largest grocery store. It has captured around 80% of the Australian market. They started from very initial level of selling groceries only but later added up on selling magazines, DVDs, basic products, health and household products. It has around 800 supermarkets in Australia, with around 1000 stores in the country. The company grew after 1924 as they captured huge audience from the market. They sell variety of goods and services by expanding their grocery range. They have gained value in the Australian market due to their loyalty schemes and rewards that helped in gaining customers trust. Woolworths work on a simple and new shopping way as they understand the shopping demand and work on it. They have allowed customers to shop online by a single touch and support customers by delivering the products at their door step. They work on offering superior services, range and value to the clients. The marketing strategy works in listening to the demands of customers, placing customers and creating new and innovative ways to capture more audience. The motive of Woolworths is to offer fresh food to the Australian people as they source more than 96% of the fresh products. They have tied up with various local farmers for the business. The organisation is not limited to the super market but it has expanded to the wide range like in the liquor retailing industry, hotels and pubs and many other stores in Australia. They offer various financial services to the people, part from this they have expanded their services by offering the products online. The company also expanded the international market which helps in gaining brand image of the company. There are various competitors in the market among which Coles supermarkets is one of the firm (Barr, Mizrach, B., & Mundra, K. (2015). The revenue of Coles supermarket is much more than Woolworths. They are planning to bet these competitors by improving the quality of product and also enhancing customer satisfaction. This is done by keeping the prices relatively low as other companies so that they could capture wider audience.
The IS strategy is used by an organisation so that they can continuously change the system as per the demand and innovation of new technology. The IS strategies are used to change the technological requirement so that actual process could be transformed. The IS strategies make use of information technology so that they can bring change in the organisation by defining the strategies in a well-defined way. They basically work for improving the performance by undertaking steps for assistance. The goal of strategy is to build a strong relation with the customer so that sales could be increased. The IS strategies help in empowering the business portfolio so that more number of customers could be captured.
The IT management structure is used by the company is to bet the competitors and deliver services in sport span of time. The IT structure of Woolworth so well developed as they support in developing process framework in various sectors. IT management structure is used so that a clear understanding could be developed. It structure supported the organisation by managing all the operation to be completed i an effective manner (Hensher & Li, 2015) . The IT infrastructure that is used helps in identifying the radio frequency in the nearby area and it also helped the organisation in tracking the products and processes. It reduces the overall work load by making all the process automatic. They make use of electronic tracking system so that better visibility can be provided to the customers. Apart from this, they use various sensors so that organisation activities can be done automatically (Makhitha, 2017). They have adopted social media as a platform so that communication can also be done in a flexible way. They use high source of technology in every sector so that operations become flexile. IT structure helped the organisation to complete the operations in a structured way. By using these IT platforms, it has been beneficial for Woolworths as the overall organisational structure is improved by delivering objectives in an effective way (Barr, Mizrach, B., & Mundra, K. (2015).
The nature of business is retail industries that deliver large number of services to people around the world. It is a chain of Retail Company with the vision of being largest in the entire retail groups. They nature of business is focused on quality by delivering the product so that business could be expanded and could reach to larger audience. The nature of business is to seek the values in the entire dimension. The company operates in seven segments. The Woolworths clothing and general merchandise covers all the products of households, clothing’s, lifestyle products and other basic services. The nature of business is not restricted; it operates in all its subsidiaries. The motive of the organisation is to gain long term success so that better profit margins could be built with more profitable customer relations. They are more towards the retail market and they majorly contribute for the social development in people. They focused on improving the relations with the customers and valuing the perception (Woolworthsgroup, 2017). The nature of business is very competitive as there are many other companies working on the same venture, thus they have various competitors in the market. They work on the strategy so that they differentiate themselves from other competitors. The strategy deployed by the Woolworth s to capture more audience, as profit of the organisation is directly dependent on the sale of the products (Havens, 2017). The organisation is only under any other third party as they are owned solely by the owner. The nature of business is to make a good brand image in the market as they do not make money as they priority. The type of business is a merchandise type as they buy products and sell them at the retail price. They do not change the form of products and sell them to end users as it is. It is a form of corporate business as they have separate legal personalities (Lau, Nakandala & Shum, 2018). The owners have a complete liability in the entire sector as they control all the basic activities.
The governance framework of the Woolworth is a set of many policies that lays out basic rules and regulations that need to be adopted by the company. The governance structure covers the basic safety and health policy, diversity policy so that no conflicts occur between the employees and at the work place. It also covers the basic risk management techniques so that business operates in all the condition. The policies are procedures are designed to remove all the legal conflicts that can exist in the system. The policies are designed to keep an agreement that operations will remain confidential. Woolworths have undertaken personal policies that cover all the recruitment processes, promotion and performance evaluation so that a good workplace environment is maintained. Apart from this, various occupational health and safety procedures are built. The policies also cover the rules regarding who is eligible to access the information. There are various policies that are designed for the way the business operations should operate so that chances of conflicts are removed. They also have a backup and a recovery procedure that is developed beforehand so that business continues to work in all the condition (Woolworthsgroup, 2017). The HR policies are also designed they help in the recruitment process by identifying who is eligible to the particular designation. The policies also cover the import and export rules so that no trade barriers are faced. The common procedures that are used by Woolworth are in the field of human resource, marketing and finance department so that they can support the supplier by reducing the waste (Potdar, Gautam, Singh, Unnikrishnan & Naik, 2016). These policies are designed to improve the quality and increase the efficiency.
The corporate officers’ role is to sense the direction of the organisation and managing the values that are created by the shareholders. The role of corporate officers in an organisation is to control the system by making sure that no conflict arises. It is a legal way through which operations are controlled in an organisation. They have the right to make decisions for the company. The corporate officers of the company make sure that relationships between the employees are maintained in an organisation. They ensures that the business take place in an ethical and transparent manner. The officers also develop risk management control so that business continues to work even at time of failure. They deal with the progress report as they manage all the decisions and operations. They make sure that all the activities of Woolworths are managed properly by maintaining and increasing the value. They work on increasing the powers and responsibilities so that they can bet the shareholders. The corporate officer’s role is to create better experiences together so that customer’s satisfaction is improved. The brand image of the organisation is dependent on the customer’s experience (Safrudin, Rosemann, Recker & Genrich, 2014). The main role of these officers in the company is to ensure that overall activities are managed properly by maintain the business integrity and professionalism. The long term goals are to set up the primary objectives so that company can complete their operations without breaching the duties that are assigned to them. They also look at the statements of the company with the trading practices. They make sure all the tax legislations are met and all the operations are monitored effectively (Thompson & McLarney, 2017). There are various situations where company faces issue due to economic risk r other approaches, thus corporate officer’s work on these strategies to mitigate such risks. The risk acceptance and avoidance are deal with these officers. Thus, these officers adopt various business strategies so that all the social, legal and environmental obligations are managed. They work on the strategies to improve the customer awareness and support the suppliers so that sale increases (Wirtz, Daiser & Mermann, 2018).
The governance structure of the organisation includes various committees that ensure that all the activities and goals are accomplished. The social and ethics committee ensure that rules are undertaken to support the responsibility of every individual. The social and ethics committee make sure that there are no conflicts faced by an individual. The main role of governance structure is to maintain a smooth work flow and have a clear planning regarding the operations. The decision making of a process moves from chairman to directors to group executive to other committee members (Rambe & Ndofirepi, 2016). The other governance structure also covers the audit members as they offer an independent oversight by monitoring the integrity of all eth financial actions. There are various remuneration committees that ensure that the employees gain fair promotions and a transparent form of communication takes place. They are also responsible for a clear risk assessment plan so that effective plans and policies are implemented so that negative impact from the company’s strategy could be removed (Woolworthsgroup, 2017). In Woolworths there are time where decision need to be taken and objectives need to be achieved. The governance structure of the organisation can be seen as a focal point where all the corporate governance ensures that sustainable growth will be active by implementing all the ethical and cultural laws. They also define governance structure so that principals are transparent and fair for all the clients. They complies all the government principals with the basic requirements of the company.
It can be stated that corporate governance structure of Woolworth is to enhance the value of shareholders so that funds could be protected. They make sure that policies and practices are designed to ensure that financial report and governance level is disclosed (Woolworthsgroup, 2017). They make sure that all eth directors, senior executive and employees are ethically responsible for their work and goals.
It is important for every organisation to have a mitigation plan so that they can address a risk management plan in case of failure. They make sure that the organisation network is free from all the IT related threats. Thus for dealing with IT related threats the organisation use antivirus software, firewalls and using updated software. Apart from that, the company has a pre-defined plan so that they can deal with the risk. They follow a step by step approach through which risk could be mitigated. The first step deals in identifying the risk and controlling the sources through which risk is penetrating in the system. The second step involves measuring the impact of risk on the business operations (Spillan & Ling, 2015). Then all the risks are analysed and they are prioritised according to their impact. The risks that have an adverse effect are treated priory so that it doesn’t affect future operations. Once the risks are prioritised then actions steps are undertaken. The action steps are the mitigation step to safeguard all the operations. This could be done by taking backup of the data packets. Once the action plans are taken, errors and bugs are monitored at the regular interval of time to assure that it doesn’t affect the system (Laurie, Faber & Claasen, 2018). Woolworth follows an approach of keeping a backup plan which could be used in case of failure. Woolworths follow a top to down approach in identifying the risk and designing safety functions that includes business review at regular interval of time, external and internal audits related to the operations. Apart from that, the company has a separate team of risk engineers and other advisers (Okanga & Drotski, 2016). The roles and responsibilities for risk management team in an organisation is summarised in the diagram below.
The success of an organisation lies on adapting to the changes according to the market demand. Thus it was announced that by the end of 2018, the company would stop selling plastic straw and Woolworth’s supermarket will launch something new. They planned to offer reusable bags so that wastage could be removed. They started with a new package coalition bringing so that they could contribute in improving the overall economy of the country. They have also undertaken various steps to make positive change happen and are committed to offer opportunities. For the success rate they have designed various policies that aim to remove the cultural conflicts and gain trust of the customers. They make sure that resources are used wisely so that emission of carbon dioxide is reduced (Woolworthsgroup, 2017). Apart from that, the horizon of the company in the upcoming years deals with the making the services online so that users can easily access the services and making it convenient for the customers to access the services from anywhere. They are planning to bet the shopping opportunities in Australia by bringing up new area. They have kept a vision of growing the core business to serve the customers with better choice and value. They purse new areas so that innovation in services could be accomplished (Morrison, 2016). They are responsible for making market power so that they support for local manufactures. They manage and minimise environment carbon emission so that a healthy workplace is maintained. In the future, they are working to expand their services and reach out to larger audience (Kumaresan & Liberona, 2018). They are focused more on distributing the assets of the organisation so that they can build an effective environment.
Conclusion
It can be concluded that the report was carried out on the organisation that is Woolworth as it is classified as one of the largest Australian organisation. This report consist a detail description about the strategies that are used by the company. The nature of the business and its governance structure are discussed. The role of corporate officers in the organisation is discussed along with the ways that are used by an organisation to mitigate the risk are discussed. There are various ways through which risk need to be mitigated. Thus, this report covers the ways through which risk can be removed. The basic risk management approach that is used by the organisation is making sure that the network is free from bugs and errors. The role of officers in an organisation is to deal with the relationship so that employee to employee elation is maintained which contributes in improving the overall performance.
References
Alkhadim, M., Gidado, K., & Painting, N. (2018). Perceived crowd safety in large space buildings: the confirmatory factor analysis of perceived risk variables. Journal of Engineering, Project, and Production Management, 8(1), 22-39.
Atkinson, D. (2016). CONCEIVING A MARKETING STRATEGY IN THE ERA OF DYNAMIC CAPABILITIES. Economic and Social Development: Book of Proceedings, 386.
Barr, J., Mizrach, B., & Mundra, K. (2015). Skyscraper height and the business cycle: separating myth from reality. Applied Economics, 47(2), 148-160.
Govender, S. (2017). How social media can be used to engage and interact with consumers in the retail industry: an analysis on Woolworths’ online strategies (Doctoral dissertation, The IIE).
Greenland, S. J., Johnson, L., & Seifi, S. (2016). Tobacco manufacturer brand strategy following plain packaging in Australia: implications for social responsibility and policy. Social Responsibility Journal, 12(2), 321-334.
Havens, J. M. (2017). Error in Table in Defining Rates and Risk Factors for Readmissions Following Emergency General Surgery. JAMA surgery, 152(7), 706-706.
Hensher, D. A., & Li, Z. (2015). 18 Urban freight: freight strategy, transport movements and the urban spatial economy. London, Tel-Aviv and Oxford, 273.
Klettner, A., Clarke, T., & Boersma, M. (2014). The governance of corporate sustainability: Empirical insights into the development, leadership and implementation of responsible business strategy. Journal of Business Ethics, 122(1), 145-165.
Kumaresan, A., & Liberona, D. (2018, August). A Case Study on Challenges and Obstacles in Transforming to a Data-Driven Business Model in a Financial Organisation. In International Conference on Knowledge Management in Organizations (pp. 263-276). Springer, Cham.
Lau, H., Nakandala, D., & Shum, P. K. (2018). A business process decision model for fresh-food supplier evaluation. Business Process Management Journal, 24(3), 716-744.
Laurie, S. M., Faber, M., & Claasen, N. (2018). Incorporating orange-fleshed sweet potato into the food system as a strategy for improved nutrition: The context of South Africa. Food Research International, 104, 77-85.
Makhitha, K. M. (2017). Challenges affecting small craft producer business growth and survival in South Africa. Journal of Business and Retail Management Research, 11(3).
Morrison, K. (2016). Woolworth: adding character to the British high street, 1909–1939. History of Retailing and Consumption, 2(2), 85-96.
Okanga, B., & Drotski, A. (2016). Integrated business model for mitigating e-retail information security risks. Journal of Contemporary Management, 13(1), 1364-1393.
Potdar, A., Gautam, R., Singh, A., Unnikrishnan, S., & Naik, N. (2016). Business reporting on biodiversity and enhancement of conservation initiatives. International Journal of Biodiversity Science, Ecosystem Services & Management, 12(3), 227-236.
Rambe, P., & Ndofirepi, T. M. (2016). Influence of small business ethics on buying decisions of customers: A case of indigenous owned fast-food outlets in Zimbabwe. Journal of Economics and Behavioural Studies, 8(5), 169-183.
Safrudin, N., Rosemann, M., Recker, J. C., & Genrich, M. (2014). A typology of business transformations. The 360º Business Transformation Journal, 2014(10), 24-41.
Spillan, J. E., & Ling, H. G. (2015). Woolworths: An Adizes Corporate Lifecycle Perspective. In Business History Conference. Business and Economic History On-line: Papers Presented at the BHC Annual Meeting (Vol. 13, p. 1). Business History Conference.
Thompson, J., & McLarney, C. (2017). What effects will the strategy changes undertaken by next Plc have on themselves and their competition in the UK Clothing Retail Market?. Journal of Commerce and Management Thought, 8(2), 234.
Wirtz, B. W., Daiser, P., & Mermann, M. (2018). Social Media as a Leverage Strategy for Open Government: An Exploratory Study. International Journal of Public Administration, 41(8), 590-603.
Woolworthsgroup.. (2017). CORPORATE GOVERNANCE STATEMENT. Retrieved from https://www.woolworthsgroup.com.au/icms_docs/182380_Corporate_Governance_Statement.pdf.
Woolworthsgroup.. (2017). WOOLWORTHS HOLDINGS LIMITED 2011 GOOD BUSINESS JOURNEY REPORT. Retrieved from https://www.woolworthsholdings.co.za/wp-content/uploads/2017/12/2011_good_business_journey_report.pdf.
Woolworthsgroup.. (2017). Woolworths Limited Response to Issues Paper. Retrieved from https://www.pc.gov.au/inquiries/completed/regulatory-burdens/manufacturing/submissions/25_woolworths_limited/sub025.pdf.
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download