Objectives And Strategies Of Woolworths, An Essay.

Choose a Well Know Organization and Discuss about its Objectives and Strategy.

First ever Woolworth's store was founded in the year 1879 by Mr. Frank Woolworths at America. Soon after this, in 1 year’s tenure, a 1st store was shut down but the continuous courage of innovative ideas never dies thus "Frank Winfield Woolworth" established and established a new store at the “Lancaster, Pennsylvania", this store gained importance and got successive ("Strategy and objectives - Woolworths Group", 2017).

In the year 1909, it opened its branch at the Liverpool 9, later on soon after the Ist World War; it established many operational outlets all across the United Kingdom states. The hidden secret of this growth and success was the attractive and great value on various offers - with almost all of the products at the stores being priced just at a single penny or just six pence ("Strategy and objectives - Woolworths Group", 2017). In less than 10 years, Woolworths would go on to become a major part refer the British national fabric plus it gained very high regard by the people as this was looked to be a revolutionary step refer the trade market. The main aim of this was to be destined as much more successful in comparison to the American cousin which closed its shutters in the year 1997 for good.

Woolworth's main aim was to be among the best sellers at the market and have admiral image in the market, it worked to be among the heart of the community plus also be the best loved and liked retailer for small kids, family leisure, and home.

The main objectives of Woolworths were to comprehensively improve all kinds of optimize network efficiency and the stock turns, by side by side ensuring to serve their clients in best possible manner – ensure regular opening of new stores for the company in streets of UK – operate such a store which ensures value for money for the clients by providing them best quality of products as are expected by the clients (El-Sady, Nassar, Sultanova, & Mousa, 2012). A large amount of money was spent by Woolworths' refer its supply chain management systems plus complete affect all areas of the company in an appositive manner.

1. Building a clients plus outlet led store culture and staff team
2. Continuously generating sustainable products sales momentum in Food
3. Evolving the drinks trade to ensure to provide even much more convenience and value to clients.
4. Empowering and strengthening the portfolio trade to continue strategies so as to deliver the value for the shareholders.
5. To become a lean retailer by end-to-end systems and process excellence (Liu, & Ko, 2010).

The operational strategies of the companies are the methods used for reaching the objectives. With the developing operational strategies the company implements and examine the efficient and effective system for using the resources, work and personnel processes Woolworth is the service oriented company using the fundamental strategies for linking the long-term and the short-term decisions of the company and creating an effective team of the management (Liu, & Ko, 2010). 

Business strategies and objectives

The operations strategies of the company are referred to the quality services provided by the company to the consumers Company for the smooth function have to primarily mange the design jobs and labour of the company which helps the individuals to manage the quality work. The operation management strategy of the company is to the act accordingly as per the growth plans, the priority operational strategies of the company is to include the extended leadership in all the segments of the market, with the utilisation of the company portfolio for increasing the values of the shareholder with the track record maintenance for the growing business and with the perspective of the overall higher future growth of the business (Liu, & Ko, 2010). The different operational strategies of the company include the employee satisfaction and the consumer satisfaction to the maximum extent and this, in turn, is ensured with the acting, listening and the learning processes hence result in becoming innovative and eventually at the end achieving the enhanced consumer satisfaction (Liu, & Ko, 2010). The operational strategy of the company is to provide the employees with the sound working environment and conditions with paying them the rewards for the better performance of the employee for the organization.

 Woolworths has been recognized to be flourishing in retailing business is the result of their approach of being process oriented which enhances the company operations. The strategy related to the process management is to develop the effective management capabilities and the processes which will help in upgrading the organization methodology (Vollenweider, 2007). The new technology is being implemented in the organization which completed the two nonstop trials of identifying the radio frequency. Such technology is employed by the management for tracing and tracking the production and the movement of the supply chain. Whereas on the other end the new improved technology will help the company in monitoring the different sores with the electronic tracking and thus reducing the stock wastage in the company with the better visibility of the products along with the control over the stock of the company (Vollenweider, 2007).

The technological factor in a great affects the retail industry and the company Woolworths, in particular, this can be considered the fact that that company is now considering the new technological application of the green refrigeration technology which helps in storing the perishable products for the longer period of time.

Operational Strategy of Woolworth

Strategies in an organization are significant for the companies to survive and prosper in the competitive environment for the long term. Woolworth actions and decisions related to the operational performance directly impact the growth of the organization ("Strategy and objectives - Woolworths Group", 2017). Such operational strategies have helped the company to hold its position in the top companies of the Australia.

According to the Slack (2004), the operations performance objectives are classified into five types that are the cost; Quality; speed; dependability and the flexibility. The cost of the performance objective is the ability to which the company focuses on producing the products with the decreased cost (Wagner, n.d.). The quality objectives develop the company with an ability to work as per the specification and without committing any error. Speeding the working of the organization for responding to the demands of the consumers within the time frame of the service and the product (Stefanovi? et al., 2015). Dependability in the performance objective helps the organization to deliver the services and products in accordance as per the commitments with the consumers and finally, flexibility in the company performance objectives helps the company for changing the operations. Flexibility in turn compromises of the four aspects such as changes in the production volume; ability to change the time for production; the ability to change the mix of different services and products produced; innovating and introducing new services and products by the organization (Stefanovi? et al., 2015).

The competitive Priorities are very significant, operational dimensions a process and an organization or supply chain must acquire to stay competitive in the market for now and the future (Stefanovi? et al., 2015). The Supplier Development Strategy, improvement strategy and the Performance strategy are the significant features on which Woolworth gains the competitive edge on the rivals present in the market. The company for this will implement the Lean distribution or the manufacturing in the best way for incorporating the JIT and also the six sigma processes in it. Moreover, the TCS has helped to inculcate the six sigma in the company in a very effective way (Lyon, 2001).

The improvement and performance strategy in a great way is focused towards the implementing the efforts which are environment-friendly. The responsible factors which persuade Operations management to alter are the accomplishment of cost reduction, goals, waste reduction, smoother flow of the distribution network, rising the on the whole efficiency and elimination of challenging areas existing within the network distribution (Lyon, 2001). Competitive dynamics changes as per the socio-economic factors and the change in the government policies.

Process Technology Strategy

Woolworth Competitive advantage is of being the market leader in the retail industry of Australia. The leadership position of the Woolworth further helps the company in enhancing and exploiting the market potentials through the strong resources outlining the human resources, technological resources, and high-quality occurrence transversely in the industry (Sanchez, & Maranhao, 2009). The resources of the company are to some extent affected by the conditions of the external environment which require minimizing the carbon footprint with the cost efficient ways of dropping packaging and achieving zero food waste (Ozbilgin, & Penno, 2005). The company weakness in the growth strategy mainly impacts the conditions which affect its ability to dominate the retail market in Australia.

The company is aimed to frame the consistent strategies as per the political conditions which are prevalent crosswise the country. It should endeavour to adopt the strategy of fair price policies for the consumers. The company also aims to perform the continuous innovation as per the social preferences and trends of the consumers with dynamism which is efficiently addressed while considering such operational strategies of higher growth levels (Ozbilgin, & Penno, 2005). It is also recommended to the company for further enhancing the support from the skilled employees with supplementary training and expansion mechanism to its consumers

Conclusion:

The significant strategy which is to be undertaken by the organization and the performance strategies indicates that the company Woolworths is specifically focused on attaining the elevated growth levels in the operation of the organization. Such growth is, for the most part, is supported as per the tough commitment towards the employees and the consumer of the organization. The company indicates the individuals as the heart of the business with the specific strategies and culture that is to be followed by the company Woolworths for supporting the consumers (El-Sady, Nassar, Sultanova, & Mousa, 2012). The long-term commitment of the company helps in building the internal capability and to be part of the company’s commitment, company in its operational strategies employees the miscellaneous people within the worker database. Provision of training is also available to be ensured by the company for positively contributing to accomplishing the strategic goals within the industry. Separately from this, the Woolworths infrastructure is highly excellent and this is assessed as a result of the fact to facilitate the company’s strong existence all through New Zealand and Australia (El-Sady, Nassar, Sultanova, & Mousa, 2012). The company built the big and the large supermarkets with the significant point of efficiently servicing the consumers.

References

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Liu, G., & Ko, W. (2010). An Analysis of Cause-Related Marketing Implementation Strategies Through Social Alliance: Partnership Conditions and Strategic Objectives. Journal Of Business Ethics, 100(2), 253-281.

Lyon, C. (2001). Operation Allied Force: A Lesson on Strategy, Risk, and Tactical Execution. Comparative Strategy, 20(1), 57-75.

Ozbilgin, M., & Penno, M. (2005). Corporate Disclosure and Operational Strategy: Financial vs. Operational Success. Management Science, 51(6), 920-931.

Strategy and objectives - Woolworths Group. (2017). Woolworthsgroup.com.au. Retrieved 21 April 2017, from https://www.woolworthsgroup.com.au/page/about-us/our-approach/strategy-and-objectives

Sanchez, M., & Maranhao, R. (2009). Understanding and defining long-term business objectives and strategies of potential parties in complex environments: a case study. International Journal Of Logistics Systems And Management, 5(1/2), 41.

Stefanovi?, M., Tadic, D., Arsovski, S., Pravdic, P., Abadi?, N., & Stefanovi?, N. (2015). Determination of the effectiveness of the realization of enterprise business objectives and improvement strategies in an uncertain environment. Expert Systems, 32(4), 494-506.

Vollenweider, R. (2007). Environmetrics: Objectives and strategies. Environmetrics, 1(1), 7-19.

Wagner, D. Sovereign Wealth Funds: Investment Objectives and Asset Allocation Strategies. SSRN Electronic Journal.