The study is intended to show the important aspects of the way in which the selected industry is seen to be operating. The main concept of the report has been further seen be based on the varied types of research objective and content of the research. It has been assessed as per the way by which business is carried and customer needs are met in the organisation. The important aspect of the report has been further able to state on the diverse type of the other consideration which has been further seen to be based on function of the organisation and how they communicate at work. Some of the different types of the other consideration of the strategic direction, culture, leadership guidance and enterprise of the report has been further able to consider the different types of the ethical issues, data gathering process, storing and the overall treatment of the information (Mishra and Ansari 2013).
The main form of the industry selected for the study has been identified with retail industry and the company selected is Wesfarmers Limited. Wesfarmers Limited is recognised as Australian conglomerate with its headquarters in Perth. The main operating regions of the corporation have been further seen to be identified in the Australia and New Zealand. Some of the important consideration of the product dealing of the company has been further seen to be identified in form of chemicals, coal mining, fertilisers, industrial products and various types of the safety products. The total standing of the company has been seen to be standing at AU$65.98 billion in the financial year 2016. The Australian company has been further seen to be based on the different types of the consideration for being one of the largest private employers in Australia with more than 205000 employees (Lee 2013).
1. The retail industry is seen to characterise the various types of the intermediaries between the wholesalers, consumers and the manufacturers of the product. The retail industry has been seen to include the different types of the consideration related to buying of the goods from the wholesalers and manufacturers and reselling of the same to the consumers. It has been also seen that the retailers are able to carry a number of the functions to add value for the goods supplied and the utility provided to the consumers. Some of the main functions exercised by the retailers have been further considered with the various types of the considerations which have been seen to be associated to the convenience for the consumers to purchasing of the goods. The market discovering mechanism has been further based on the different types of the important consideration with after sales ancillary services (Cao 2014).
The development of the Australian retail industry is stated with the factors which have been conducive with several ranges of factors such as convenience of the consumers and market discovery of the products. However, this has been further seen to be based on the various types of the consideration which has been conducive in the advent of Australian retail industry along with the diverse range of other factors. Some of the main form of the technological advances has been seen to be based on the different type of the important consideration for the retail industry which has been identified with the digital age and online experience of the users. The important form of the working has been considered with the segregation of the operation into various divisions. The aforementioned divisions have been further seen to be considered with Coles, Home Improvement and Office Supplies, department stores, Kmart and Target. The chemical retail division of the company has been seen to be considered with the operations named “Wesfarmers Chemicals, Energy & Fertilisers (WesCEF)”, this has been seen to be responsible for producing and marketing of various types of the gas products, chemicals and fertilisers. The consideration of the other activities has been further seen to be based on the Wesfarmers safety and business which are prevalent in the regions such as “Blackwoods, NZ Safety, Bullivants, Coregas, Blackwoods Protector, Safety Source, Total Fasteners, Packaging House, King Gee, Hard Yakka, Stubbies and GotStock” (Smith-Gander 2014).
The main form of the development of the Australian retail industry has been further able to state on the varied range of the factors which has been related to the changing nature of the consumer preferences and competitive pressures along with the various types of the innovative factors. It has been further discerned that the different types of the important consideration made in the retail industry which has been seen to be focused on internet and digital technology (Cachinho 2014).
Some of the main form of the adoption to the changes for Wesfarmers has been seen to be associated to dealing with online supermarket services such as Coles Online. Coles online has been discerned another sub division of Wesfarmers and considered as one of Australia’s largest online retail companies. The main form of the services offered by Coles has been further seen to be based on the consideration for the availability of the products online (Balasescu 2014).
It has been also discerned that on 16 June 2014, Wesfarmers was able to complete its sale of insurance services in terms of broking and premium funding of the operations. This particular service of the company has been further seen to include the “OAMPS Insurance Brokers in Australia, OAMPS UK, Crombie Lockwood in New Zealand, Lumley Finance and Monument Premium Financing” (Mitchell, Edelman and Chaudhury 2014).
2. This section has been further seen be based on the varied types of research objective and content of the research. It has been further able to discern the way by which business is carried and customer needs are met in the organisation. The important aspect of the report has been further able to state on the different type of the other consideration which has been further seen to be based on function of the organisation and how they communicate at work. Some of the diverse types of the other consideration of thee strategic direction, culture, leadership guidance and enterprise. The report has been further able to consider the different types of the ethical issues, data gathering process, storing and the overall treatment of the information (Brenes, Ciravegna and Montoya 2015).
The main aspect of the report content has been further seen to be based in providing a market discovery mechanism, other services provided by retailers and the consideration for the changing role of retailers. The retailers has been further able to enable the various types of the services which has been seen to be conducive with the physically reducing the packaging of the goods purchased in smaller amount of the quantities. The retailers have been further able to provide the various aspects of the sales outlets which were closer to the consumers and typically provided by the wholesalers and manufacturers.
The important form of the research associated to the discussion has been discussed with consumers facing search costs and assessing of the information on the features of the new products which is seen to be entering in the marketplace. The specific cost will be further able to find the comparative information on the various types of the opportunities cost associated to physically moving of the sales outlets. The buyers may be further able to consider the various types of the important consideration which has been seen to be associated to the various typed of the important consideration related to the relative features of the new products. It has been further discerned that the retailers will be able to provide various types of the other aspects associated to the market mechanism and searching out and supply of the new products, considered with both the new and the existing models. It needs to be further understood that the different types of the important consideration for the development of the new products in the retail industry has been seen to be based on stimulating demand for the products through advertising and providing feedback to the manufacturers (Mitchell 2016).
The research objective has been further seen to be considered with the existing products as per the latest fashions. The demand can be further seen to be stimulated as per the demand of the products as per the advertising and providing feedback to the manufacturers associated to the changes with the consumer interest along with the products. The consideration of the different types of the other services has been further seen with the objects which are seen to be associated to the difficulties and the operations of the products which can be pointed out with the servicing and the warranty issues. The retailers will be also able to discern the various type of the other factor which has been seen to consider with the warranty issues. The retailers will be further able to facilitate the consumer purchases and providing the financial services. The consideration of the various types of the other services has been further seen to be based on the considerations of arranging of the financial services (Phillips 2016).
3. From the very beginning of 1914, Wesfarmers has been able to grow with “Western Australian farmers’ cooperative”, and in addition to this, Wesfarmers has been able to diversify its business operations in several sections. Some of the main types of the regions of the expansion have been further seen to be based on the consideration of the expansion opportunities in divisions associated to convenience stores, supermarkets, liquor, department stores and hotels.
Wesfarmers is seen to be committed to create value for its shareholders, employees, communities which are seen to be based on more than a century. The company has been further seen to be based on the creation of a long terms value and will be able to ensure create future value towards the community and the environment. The important form of the acknowledgement has been further considered to be changing in nature. As per the depiction of the performance of the company in 2016 and 11% has been seen to be increased as per the sustainability index. The consideration of the various types of the other assessment has been further able to discern that the organisation has been able to consider the cyber security and the labour practices indicators and human rights (Parnell 2013).
It has been further discerned that the different types of the consideration for the customer has been seen to be based on the different type of the assumption which been considered with the various types of the consideration made for the customer of the company. The community service for the company has been further seen to be considered with the various types of the factors as per the safety performance. It is observed that the safety performance is seen to be considered with the different types of the considerations to monitor the injuries and the lost time of the members for injuries. It has been also seen that the Wesfarmers has been regarded as one of the largest private sector employers and the shareholders approximately 530000.
It needs to be also considered that Coles division of the company formed in November 2007. This was seen to be considered as a result of Coles Group. It needs to be further discerned that Coles was able to provide fresh food, groceries, liquor, fuel, and merchandise to a customer base of more than 21 million. It has been also seen that the company is consisting of a team of 1020000 customers and operating in more than 2400 retail outlets (Fleischhacker et al. 2013).
Wesfarmers is strived to create a positive work environment which has been able to include the people irrespective of the genders, age, race, sex, cultural background, religion, family responsibilities and areas associated to the potential differences. The company has been further seen to include the different type of the aspect of the diversity values. The diversity values of the company included broadening of the experience, skills from a total pool of the top talent. This particular consideration has been further able include the several types of the other aspect which has been seen to be considered with providing of higher form of the alignment with the customer needs. The improvement in the creativity has been further discerned with improved form of creativity and innovation. The company has been also able to recognise the different types of the values which is seen to be related to the creation of the responsible corporate citizenship model.
Wesfarmers is regarded to create gender diversity which will be able to create a workforce of 55% of women and 45% of men. This has been further seen to be considered as the key opportunity for the leadership programs which have been seen to be held by women. The company’s main focuses has been considered with senior management in terms of getting more women in the senior role and create long term sustainability based on the performance of the group. The review of the divisional talent of the company has been further able to take into consideration the different type of the aspects for the enchasing the overall recruitment process, ensuring pay for equity and indigenous engagement of the employees. With the initiation of public “Reconciliation Action Plan (RAP)”, the company has been able to increase the indigenous employees by 20.5%.
The company has been seen to employ 220000 people, with 198000 employed in Australia itself. The people of consideration have been further seen to be considered as per total employment of 73%.
5. The board is seen to consider the different types of the approvals which has been seen to be related to the strategic direction with the group and this has been further able to guide and the monitor the management of the company also with the different type of the strategic plans which has been viewed in terms of the good governance practice. The strategic direction, culture, and leadership guiding the enterprise is evident with enhancing the interest of the shareholders and taking into consideration the various types of the other interest of the stakeholders. This has been seen in terms of the inclusion of suppliers, customers and community at large. The variety of the mix of the remuneration aspects has been seen to be considered as per the different types of the performance measures, incentives plans and this has been chosen as per the creating a strong link with the generation of satisfactory return for the shareholders (Smith-Gander 2014).
The managing director off the Wesfarmers has been identified with the day to day management of Wesfarmers and business this functions and the company’s leadership team. The main form of the details of the members of the company has been further seen to be based on the different type of the important consideration which has been taken into consideration as per the Wesfarmers Leadership Team. The important aspect of leadership team has been considered with the Wesfarmers Leadership Team managed by Linda Kenyon.
6. The various type of the consideration for the ethical behaviour for the company has been further seen to be taken into with the different types of the policies such as whistleblower policy. As per the various types of the terms of the consideration of this policy the various types of the employers will be able to be get encouraged with the various aspects related to the illegal, fraudulent or the undesirable conduct. This has been considered with the protection of the disclosure officer.
The different types of the process for the data gathering process has been further considered with Group’s retail networks to ensure that they are able to secure and treat the data in an effective manner.
The group has been further seen to be considered with Target accounting scandal which has been taken against the staff. The main aspect of the scandal has been able to see that the income of the company has been inflated by $ 21 million in 2015. The funds were seen to be flowed with rebate a deal of 30 international suppliers which has been able to boost the earning’s of Target.
Conclusion
As per the industry analysis some of the main functions exercised by the retailers are based on the various types of the considerations which have been seen to be associated to the convenience for the consumers to purchasing of the goods. The market discovering mechanism has been further based on the different types of the important consideration with after sales ancillary services. Wesfarmers is regarded to create gender diversity which will be able to create a workforce of 55% of women and 45% of men. This has been further seen to be considered as the key opportunity for the leadership programs which have been seen to be held by women. The company’s main focuses has been considered with senior management in terms of getting more women in the senior role and create long term sustainability based on the performance of the group. With the initiation of public “Reconciliation Action Plan (RAP)”, the company has been able to increase the indigenous employees by 20.5%.The main aspect of the scandal has been able to see that the income of the company has been inflated by $ 21 million in 2015.
References
Balasescu, S. (2014) ‘Contributions To the Foundation of the Marketing Mix for Retail Companies.’, Bulletin of the Transilvania University of Brasov. Series V: Economic Sciences, 7(1), pp. 17–24. Available at: https://liverpool.idm.oclc.org/login?url=https://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=97253852&site=eds-live&scope=site.
Brenes, E. R., Ciravegna, L. and Montoya, D. (2015) ‘Super Selectos: Winning the war against multinational retail chains’, Journal of Business Research, 68(2), pp. 216–224. doi: 10.1016/j.jbusres.2014.09.030.
Cachinho, H. (2014) ‘Consumerscapes and the resilience assessment of urban retail systems’, Cities, 36, pp. 131–144. doi: 10.1016/j.cities.2012.10.005.
Cao, L. (2014) ‘Business Model Transformation in Moving to a Cross-Channel Retail Strategy: A Case Study’, International Journal of Electronic Commerce, 18(4), pp. 69–96. doi: 10.2753/JEC1086-4415180403.
Fleischhacker, S. E., Evenson, K. R., Sharkey, J., Pitts, S. B. J. and Rodriguez, D. A. (2013) ‘Validity of secondary retail food outlet data: A systematic review’, American Journal of Preventive Medicine, 45(4), pp. 462–473. doi: 10.1016/j.amepre.2013.06.009.
Lee, A. (2013) ‘Aussie sale and leaseback first unlocks real estate value.’, International Financial Law Review, p. 22. Available at: https://search.ebscohost.com/login.aspx?direct=true&db=buh&AN=91543210&site=ehost-live.
Mishra, A. and Ansari, J. (2013) ‘A conceptual model for retail productivity’, International Journal of Retail & Distribution Management, 41(5), pp. 348–379. doi: 10.1108/IJRDM-03-2013-0062.
Mitchell, S. (2016) ‘Target scandal triggers Wesfarmers crackdown’, The Australian Financial Review, p. 1. Available at: https://search.proquest.com.libraryproxy.griffith.edu.au/docview/1779905198?accountid=14543%0Ahttps://HY8FY9JJ4B.search.serialssolutions.com?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&rfr_id=info:sid/ProQ%3Acentral&rft_val_fmt=info:ofi/fmt:kev:mtx:journ.
Mitchell, V., Edelman, D. and Chaudhury, A. (2014) ‘Predicting retail brand extension strategy success: A consumer based model.’, Journal of Customer Behaviour, 13(2), pp. 93–111. Available at: 10.1362/147539214X14024779483555%5Cnhttps://search.ebscohost.com/login.aspx?direct=true&db=buh&AN=99409512&lang=de&site=ehost-live.
Parnell, J. A. (2013) ‘Uncertainty, Generic Strategy, Strategic Clarity, and Performance of Retail SMEs in Peru, Argentina, and the United States’, Journal of Small Business Management, 51(2), pp. 215–234. doi: 10.1111/jsbm.12010.
Phillips, K. (2016) ‘The “effects test” hints at a rift on the right’, Business Spectator Online.
Smith-Gander, D. (2014) ‘Call for greater courage.’, Governance Directions, 66(7), pp. 390–391. Available at: https://search.ebscohost.com/login.aspx?direct=true%7B&%7Ddb=bth%7B&%7DAN=101914863%7B&%7Dsite=ehost-live.
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