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MGT 403 Strategic Management

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MGT 403 Strategic Management

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Course Code: MGT403
University: Saudi Electronic University

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Country: Saudi Arabia

Describe about the Strategic Management For Woolworths Organization.

The following report is based on the identification of the strategic goals of Woolworths Organization. Woolworths Organization is an Australian supermarket store chain that is owned and operated by Woolworths Limited (coburnarchitecture.com.au 2016). Woolworth is the largest supermarket store of Australia and along with Cole’s supermarket; the company forms a near duopoly in the Australian retail market. The competitive nature of the market in Australia forces the management of Woolworths to ensure the implementation of the correct set of strategies that best suits the interests of the organization. Strategic management generally refers to the identification and implementation of the different strategies that are needed for the smooth operations of the organization. The following report will basically project on the ways by which the company maintains the track record for the smooth growth of the organization and the ways by which the company helps its shareholders to maximize their profit (coburnarchitecture.com.au 2016).
Project Statement
The identification of the strategies that are implemented in the business by the managers or the supervisors are said to be Strategic Management.  Strategic Management also involves the managers and the supervisors to undertake crucial decisions and actions to make sure that the planning of the organization moves forward in the correct path (macrobusiness.com.au 2016). The proper and effective implementation of the strategies helps the organization to determine the performance of the company in a proper and effective manner.
Project Topic
The following report is based on the strategic management of Woolworths which is an Australian supermarket chain. The management of the company works in close cooperation with the Australian farmers and cultivators and in turn promotes the use of home grown domestic products (macrobusiness.com.au 2016). The following strategy to work in tandem with the farmers is generally done to ensure the presence of the best quality products to its customers. Both the mission and vision statement of the organization is designed in such a way that it addresses the needs of the common people and also caters to their demands. The mission statement of the organization aims to highlight the key elements that would e required to serve the purpose of the stakeholders. On the other hand the vision statement describes the future oriented declaration; Goals and the planning that are generally undertaken by the management of the organization. Apart from this the company has also aims to deliver the customers with the proper experience related to shopping each and every time. The statement also includes the fact that the organization leads the customers to a profound knowledge about each and every products of the organization (Madsen and Walker 2015).
Purpose of the Research
The strategic planning has a number of different objectives. Some of them are as follows;

The efficient maintenance of the different kinds of track records that helps to build new partnerships and grow the business accordingly
The expansion of the business and extension of the brand reputation
To stay dedicated and concentrate all the different efforts towards the Company itself
Implementing strategies and planning that are the most suitable and stable for the business organization.

Literature Review 
The report has been successful in highlighting the different types of the elements in the strategies undertaken by the management of the business to ensure their growth as the giant of supermarket chains in the island continent, Australia (Cummings and Worley 2014). Apart from this the strategies will also be addressing and supporting the idea of their international expansion. The formation and implementation of the proper strategic analysis depends on the proper selection of the goals and objectives of the mentioned Company. The goals identified by the Business organization are as follows;

Creation of a large customer base
Implementation of the strategies in a proper way to support the sustainability of the business
Empowering the portfolio business
Ensuring the continuation of search for innovation and new strategies to gain competitive edge in the market over their rivals

The above mentioned goals can only be achieved by formulating a great retail team that generally listens to the customers, employees and the suppliers of the business. The employees generally receives continuous feedback from the customers and accordingly reports to the management.
The main objectives of the business are as follows;

Uniqueness in Business-The retail business has a unique characteristic in it which is the ever changing mentality of the customers of the organization. The management of the company has to adapt to these changes accordingly and ensure that they change their strategies in the same pace (Cummings and Worley 2014). The main reasons for the change are the availability of a number of different kinds of retail stores and new kind of products in the offering. The customers have the tendency to opt for the best products and services that are available to them in a particular time. Thus the management has been changing accordingly to ensure that they meet the demands and needs of the customers. The management has also started a feedback option for the customers where the customers are able to provide their feedback to the management of the company regarding the different goods and services. This helps the management of the business to get a clear idea of the needs of the customer and the changes that they expect from the organization (Saeidi 2015). Thus following such kinds of feedbacks and completing the changes helps the organization to sustain in the market and increase the demand of the products that are sold in the stores of Woolworths.
Focusing on the customers-Official figures estimates the number of customers who avail the services of the retail giants crosses 20 million (Cummings and Worley 2014). Being one of the best and the largest retail stores of Australia, the company ensures that each and every of its employees works in coordination and helps in the success of the organization. The training program of the company helps the organization to instill a sense of responsibility in every employee to work for the company by serving all the customers in a proper and efficient manner. The proper behavior of the employees towards their customers helps the organizations to attract more and more customers and ensure their success in the market. The more the labor of the employees towards their customers, the more are the chance of success of the organization in the market.  
Innovations in shopping-The innovative approaches in shopping that is being practiced nowadays will dominate the future of shopping (coburnarchitecture.com.au 2016). Some of the main approaches include the likes of online shopping, phone shopping and many others as such. The rise in the use of mobile technology has been the main reason behind the growth of the shopping innovations. Woolworths has recently introduced a mobile application that will be helpful for the shoppers to shop all the necessary items at one click of their mobile. The items that will be ordered will be delivered within a particular time limit. Apart from this the absence of ample time has also been one of the main reasons for the innovative shopping procedures.

Internal and External Analysis of the firm
Internal Analysis
The Internal analysis of the firm is mainly estimated by the identification of the strengths and weaknesses of the organization. The internal analysis of Woolworths is carried out by the management of the organization to ensure the strengths of the organization and use them in a coordinated and efficient way to mitigate the weakness of the Company. The strengths and weaknesses of the company are given below; 



ü Largest Retail store of Australia
ü Largest Market share of retail business in Australia
ü Strong Financial Performance
ü Proper and Efficient Growth

ü Absence of International Presence
ü Restricted geographical presence in comparison to Cole’s or David’s
ü Business is restricted to New Zeeland and Australia

External Analysis
The external analysis of the business is generally said to be the opportunities and threats that the business will have during its operations (macrobusiness.com.au 2016). The external analysis of the business is more relevant to the proper functioning and the success of the business. The main Opportunities and the Threats of the business organization are as follows;



Ø The opening of new markets in Australia because of new Government Agreements
Ø The new taxation policy of the Government can help improve the policy of the government and impact the way by which business is carried on
Ø New trends of consumer behavior
Ø Introduction of online shopping

Ø Absence of New products
Ø Rising number of International retail Companies opening their stores in Australia and New Zealand
Ø Absence of aggressive expansion policies and strategies
Ø Absence of innovative marketing policies

 The management of Woolworth’s private Limited defines the external analysis by means of Porter’s Five Forces.

Bargaining Power of Suppliers-The large retail market share of the organization in Australia makes the organizing power of suppliers for the organization very weak in nature.
Bargaining Power of Customers- The presence of large number of individual buyers in the organization makes the bargaining power of buyers much powerful in nature. The customers generally bargains for the price of all the articles that they feel are excessive in nature and forces the organization to rethink on the pricing strategy and finally reduce the price of the products.
Threat of New Players-Woolworths Private Limited Company is the largest retailer of Australia and also holds the largest market share among all the other retail players in the market. The immense power of the organization in the market suggests the absence of any kind of threats from other retailers or any new retailers who tend to enter the market of Australia. The presence of large and efficient network of distribution networks and supplier channels helps the organization to ensure the strong presence of the company in the Australian market.
Threat of Substitutions-The presence of lots of substitute products especially the ones which offer the same advantages but are cheap in nature pose a direct threat to the organization. The presence of such kind of products in the market is a threat to the organization.
Rivalry among the different Competitors-The rivalry of the company is basically limited in nature as because apart from Coles Supermarket there is no such company that matches its stature.

Main Strategy
According to, Sakas Vlachos and Nasiopoulos (2014) the management of Woolworths has decided to fix to the pricing strategy that best suits the company. The pricing strategy of the company is useful for the organization as because the organization is mainly dependent on the customers for fulfilling their goals and objectives. The strategy will help the management to fix the price of the products that they offer in their stores and lower the prices of these products accordingly. The management of the company has decided to enhance the quality of the products to fight the price gap of their products with that of their competitors.
The research will be totally based on the study of the strategic elements of Cole’s supermarket. The report will be prepared by means of both the use of qualitative as well as quantitative data. Apart from this it will use both primary as well as the secondary methods of data collection collect data. The data can be collected from the employees at the stores and also from the people who visits the stores regularly. The data will then be analyzed accordingly to find out the different results related to the topic. The main elements of the qualitative research methodology are as follows;
Research Design
The proper evaluation of the different objectives will be completed for this particular project with the use of the Descriptive Research Design. The descriptive research design will be chosen for the other two research designs mainly because of the ability of the following research design to provide a proper analysis to the theories and concepts that are directly or indirectly related to the following topic (Wheelen et al. 2017). The particular research design will be quite essential to the identification of the particular strategies that are adapted by the management of Woolworths and also to identify the ways and processes by which they implement them in the organization. Therefore the following research design is said to be the most suited for the conduction of the research in the mentioned way. The proper identification of the different organizational procedures is thus necessary for the conduction of the research.   
Reliability and Validity
The reliability and validity of the research methods will be measured and tested in the most appropriate way to ensure that the research is genuine in nature. Thus the main reason again lies in the verification of the research. Reliability can be referred to as the degree to which the different tools of assessment can be used for the success of the research. The validity as well as the reliability of the business are together important in the completion of a quality research regarding the identification of the strategic management of Woolworths. The research will be taking the help of the secondary sources to collect the information regarding the strategic necessities of the organization and the main processes that are undertaken by the management to implement a better and efficient strategy and attract customers towards them. The formulator of the report has to make sure to verify the sources of the information thoroughly before putting them to use.
The sample for the following report will be selected by means of the purposeful method for sampling. The particular method will ensure the involvement of the participants of the organization that will be pre selected basis based on some research questions set much before the start of the report.
Sample Size
The sample size of the report will be determined at an earlier date by the formulator of the report. The sample size will consist of the employees of Woolworths, the supervisors and the managers of the mentioned retail store and a number of consumers who are regulars of the store. The sampling will continue for the research until and unless the collection reaches a saturation point. The following report will consider the likes of 25 different employees, 15 managers of the company and last but not the least 10 people who are the customers of the company.   
Data Collection Method
The main form of research methods that is to be followed in this report will be the conduction of interviews and focus group. The interviews will be conducted either by face to face meetings or by means of online questionnaires. The interview will mainly involve the exploration of the views, experiences and the beliefs about the different participants of the following report. The focus group on the other hand will be used to generate qualitative information regarding the different ways as well as challenges for the success of the organization (Robson 2015).
Quantitative Research
Quantitative Research Design Process
The quantitative Research Process of the particular report will be completed by means of the descriptive research design which will be helping the study of the different types of the statistical elements and calculations related to the following topic. The data regarding the strategies of the organization and the process through which the data is collected will be arranged accordingly (Wheelen et al. 2017). The data will be collected through the process of structural research instruments and the results of the research will be based on the size of a much larger amount of research samples.
Research Instrument
The following report will be prepared by means of an online questionnaire that will be provided to the research participants especially the customers. The questionnaire will be presented to the customers in their personal mail accounts which will be again send back to the formulator of the report in his mail account.
Data analysis
The results will be analyzed through the use of the quantitative SPSS method. The SPSS method will be used to analyze the topic in a variety of ways that is reliable enough and provides a totally different angle to the study. The SPSS method will involve the analysis of the different responses through the construction of different pie, bar charts and other statistical diagrams.
Sampling and Sample Size
The sample size here refers to the number of customers who will be selected as the research participants. The participants will be provided online questionnaires for providing their responses.
Interviewing and Questionnaire Design
The interview process and the supply of the questionnaire will be provided through the use of the internet. The questions that will be provided in the questionnaire will be basically open ended questions and will consist of multiple choice questions. The interview process can be done through the use of Skype. Skype will help in the face to face communication of the report formulator and the research participants.
Validity of Data
The validity and reliability of data must be ensured through the process of verification and using authentic sources for the collection of data. Reliable and valid data can only ensure successful and original results. The formulator of the report must identify and select the original data for the formulation of the following report.
Limitations of the Research
There can be lots or limitations in the report. The theories and resources used in the report might not be sufficient enough or may not be suited for finding the original results and to meet the strategic goals of the research.
Data Analysis and Reflections on Key Findings 
The analysis part of the following report carries equal importance like the other parts. The analysis of the results will help in the proper determination of the aims of the study. The strategy adopted by the management of Woolworths is mainly to please customers by offering a lower price for each and every product that is sold by them. The most appropriate strategy that is relevant to the organization includes the pricing and range strategy. The features of the following strategy are as follows;
The management of the company implemented the following strategy which is quite new in the market and is related to the pricing strategy that totally counteracts the strategy of Cole’s supermarket of Australia. The following strategy is a bold move by the management of the organization as because it will lead to the lowering of the price of the quality goods. Such a move will naturally see a switch of customers from one retail shop to the other just because of the discount offered by Woolworths. The company will be playing a key role to compete with the key stakeholders of other businesses. The organization has to ensure a higher quality and enhanced price for the products to avoid any problem with other competitors in the market. The pricing strategy that will be applied in the business is mainly the reflection of each and every thing that is generally applied in the following business. The strategy will offer a proper and effective choice between the offerings of a comparatively stable price across a broad range of goods. The low price strategy of the organization must be based on the assumption of a gradual expansion of the organization across the different sectors of the company.
The competition in the supermarket retail industry is a complicated fact and in Australia Cole’s and Woolworth’s has been at the forefront of such kind of competition. The main feature of the supermarket industry has been to highlight the different products under one store and thus the multidimensional angle helps it to multiply its profit margin. The very first strategy of the mentioned company is to offer all the different products under its brand in cheap and discounted prices which helps them to attract more and more tourists (Robson 2015). The management of Woolworths along with the consultation with its shareholders divides the pricing strategies or policies under two main heads. This includes the likes of;

Everyday Low Price-Woolworths offers low prices or special discount for each and every product every day to gain more from bigger demand. The large number of demand for the products helps them to garner more and more profit in the following segment. However they never compromise with the quality of the products which helps them to garner even more attention and profit.  
Promotional Pricing-This involves providing special discounts on some special occasions for the customers. Such kinds of discounts are easily spotted by people and thus help the organization to gain more profits from huge number of sales of the particular product.

The internal and external factors of the business can be analyzed critically by applying some theories and frameworks;
Porter’s Five Forces
The following tool assesses the present position of the business and the ways in which the performance of the company is affected and can be improved to ensure a better and secure future.

Bargaining Power of Buyers-The bargaining power of buyers in respect to the Australian retail Industry is much higher because of the presence of large number of Woolworth’s stores along with the presence of stores having the same business.  The presence of large number of stores provides the customers better options for selection of products and services.
Bargaining Power of Suppliers- The retail market of the mentioned country is highly concentrated and there are many big players especially Woolworths who have large share in the market place (Bettiset al. 2016). This helps to increase the bargaining power of the sellers and thus helps them to have a say in fixing the prices and other things related to supply.
Threat of Substitutes-The presence of large number of other competitors in the market makes life tough for the industry. The presence of cheap products with more or less the same type of quality can hamper the proper functioning of the organization. Such a problem can hamper the operations of the business. The threat of substitutes will always remain a potential danger for the organization (Wheelen et al. 2017).
Threat of New Entry-The presence of large firm like Woolworths, Coles and some other small and medium sized organizations prevents other kind of organizations to start their retail business easily in Australia. It will be tough for new firms to gain a foothold in the market in the presence of these brands. The absence of threat to new entry ensures a monopoly of some of the firms in the Australian retail sector.
Rivalry among Existing Firms-The most intense rivalry in Australian retail sector is in between Woolworths and Coles. Both these companies engage in strategic fights in the market to gain the largest foothold (Arli et al. 2014). The strategic war between these two firms forbids other small and medium sized business in the retail sector to gain profit from the operations of the following business.

Conclusion, Limitations and Recommendations 
The following assignment provides a clear and transparent view of the different strategic paths that are selected by the management of the mentioned organization. The management of the mentioned organization has implemented the strategies in such a way that not only it has helped them earn the praise of the customers but has also helped them to be the number one retail company of the island continent. The following report has presented a transparent picture of the management of the company along with the mission and vision statement of the company (Robson 2015). These statements will help the readers to gain an idea of the aims and objectives of the business organization in the market where it operates. The main theme of the project which is the strategic objectives and their implementation in the business structure has been discussed in a broad way which paves the way for other business organizations to implement the market proven strategies in their own business. However the main part of the project or the most vital part of the project stands out to be the literary review of the project which provides all the detailed points regarding strategic marketing and their use by the mentioned supermarket of Australia. The retail industry in Australia is mature and intensely competitive in nature with a very low potential and thus most of the business houses either fails or do not enter this particular segment of market (Meyer Neck and Meeks 2017). The main reason behind this lies in the presence of the huge market share with Woolworths and Coles.
This huge market share usually stands at more or less 70% of the total supermarket share in Australia. The intense competition in market for Woolworth’s is provided by Coles. Despite the presence of such a huge competition in the market the organization never fails to achieve the goals especially the goal of raising the ceiling of its sales every year by a certain degree to stay sustainable in the market in the long run. The management of the mentioned organization must utilize all its resources to full extent which will help them to increase their strength and reduce or mitigate their weaknesses. Apart from this it must try to utilize the opportunities in the business which will help them to mitigate the threats that could hamper the operational and productive performance of the business (Meyer Neck and Meeks 2017). Woolworths has understood the business as a process from its huge range of experience and thus have made them capable to enhance the flexibility of operations through close range integrations. It has also been able to increase the value for its business by broadening the category of products and services offered by them to the customers of the organization. The strategic advantage of the business organization has helped them to gain a competitive edge over the other rivals especially Coles in the Australian Supermarket and retail category.
The strategic plans of the mentioned supermarket of Australia seem to be in the right place and heading in the right direction. However after a thorough analysis of the whole assignment, some serious limitations have been found in the planning, selection and implementation process of the strategic plans. The absence of proper expansion policies in the market is a serious limitation in the business. The absence of expansion policies can hamper the future of the organization. There must be adequate expansion policies in the business that can help them to introduce new products, gain revenue and most importantly earn new customers. Apart from that the use of traditional marketing and promotional policies also tends to limit the scope of the business to a certain area. New companies with a better marketing technique are slowly gaining ground in Australia just because of the failure of Woolworth’s management to apply new and latest policies for the success of the business. The absence of proper innovative policies is also one of the main problems for the business. The lack of innovative policies in the business limits the ability of the business to make strides in new areas and improve their business abilities.
In line with the famous strategy of Woolworths, the goal of the management must be always to put the priorities of the customer first across all the brands. The management of the following company must follow a dedicated set of plans to achieve the priorities of the business. This includes the likes of;

Building a customer and store led culture and team
Generation of a sustainable sales momentum in different categories of products
Gradually becoming a lean retailer through end to end process and systems excellence
Empowerment of the portfolio business to pursue the strategies that will help to deliver the shareholder value of the business.
Providing investment opportunities to different business of the organization and increase the opportunities of the business.

The following aims and strategies can only be achievable by the building up of a great retail team that will listen to all the customers of the organization, team members and also the employees working in the particular organization. The management of Woolworths must start a feedback program for both the customers and the employees to get an idea of their performance and brand satisfaction among the customers and on the other hand get a clear idea about their different needs and demands. Some of the main features of the Woolworths management must be to ensure the presence of customer trustworthiness. The below provided figure will show on how the Company can improve the brand reputation. There is a high need for the organization to continuously innovate the different business of the organization as because proper and efficient innovation is the key to the success of the company. The main aim of the business will be to change the perception of the business and develop the business into a totally new concept altogether. This will include;
Change in the Business
The management of Woolworths must give a look into the retail business as the growth of e retail business has captured the attention of a large section of people in this competitive world. The management must think about opening a e retail wing to utilize the opportunity and also to ensure that they does not fall back in the ever changing world of retail business. Apart from the following consideration the change in the concept of the business from management based to customer based is also one of the major transformations that must be performed by the management to stay competitive in the business. The change in the strategies can be achieved by means of;

Placing the customer first
Listening to the customers
Creativity and Innovation

Future of Shopping
The use of technology and other latest innovations will change the way of modern shopping and thus the management of Woolworths must make it a point to use the latest technologies and applications to drive the growth in the business.
Rewards for employees and Customers
The management of the mentioned company must provide rewards to the customers on some buying and also provide rewards to the employees of the organization to ensure their peak productivity.
Working Harder for Customers
Last but not the least in any way, the management of the organization must ensure the presence of hard working and dedicated staffs to help the customers fulfill their needs and demands. Therefore working hard for the customers will help the business to grow in size and earn profit.
Arli, V., Dylke, S., Burgess, R., Campus, R. and Soldo, E., 2014. Woolworths Australia and Walmart US: Best practices in supply chain collaboration. Journal of Economics, Business, and Accountancy| Ventura,16(1), pp.27-46.
Bettis, R.A., Ethiraj, S., Gambardella, A., Helfat, C. and Mitchell, W., 2016. Creating repeatable cumulative knowledge in strategic management: A call for a broad and deep conversation among authors, referees, and editors. Strategic Management Journal, 37(2), pp.257-261.
Bettis, R.A., Gambardella, A., Helfat, C. and Mitchell, W., 2015. Qualitative empirical research in strategic management. Strategic Management Journal, 36(5), pp.637-639.
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Task 1
1.0 Data on staff turnover and demographics
That includes the staffing information of JKL industries for the fiscal year of 2014-15, it can be said that the company is having problems related to employee turnover. For the role of Senior Manager in Sydney, the organization needs 4 managers; however, one manager is exiting. It will make one empty position which might hurt the decision making process. On the other hand, In Brisba…

MKT2031 Issues In Small Business And Entrepreneurship
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Course Code: MKT2031
University: University Of Northampton

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Country: United Kingdom

Entrepreneurial ventures
Entrepreneurship is the capacity and willingness to develop, manage, and put in order operations of any business venture with an intention to make profits despite the risks that may be involved in such venture. Small and large businesses have a vital role to play in the overall performance of the economy. It is, therefore, necessary to consider the difference between entrepreneurial ventures, individual, and c…
Turkey Istanbul Management University of Employee Masters in Business Administration 

MN506 System Management
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Course Code: MN506
University: Melbourne Institute Of Technology

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Country: Australia

An operating system (OS) is defined as a system software that is installed in the systems for the management of the hardware along with the other software resources. Every computer system and mobile device requires an operating system for functioning and execution of operations. There is a great use of mobile devices such as tablets and Smartphones that has increased. One of the widely used and implemented operating syste…
Australia Cheltenham Computer Science Litigation and Dispute Management University of New South Wales Information Technology 


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