CIA 11217 Evaluation of Annual Report of Woolworths Group Limited: Assessment Answer
The primary purpose of the paper is to provide a critical evaluation of the annual report of Woolworths Group Limited for understanding the business process and the corporate governance activity of the firm. The paper will also discuss the success of the business with the help of the annual report.
Evaluation of Annual Report and corporate governance statement
The organisation Woolworths Limited is the Australian retail company which was founded in the year 1924. This is the second largest company within the country according to the revenue of the firm. The annual report of the firm for the year 2017 effectively shows that the business is rapidly growing within the market. In this year they have gained almost 55 billion dollars from their sales and their total group profit for this year is considered to be 1534 million dollars (Annual Report 2017, 2019). The organisation each year present the corporate governance statement that shows the governance framework generally adopted by the Board as well as the detail work regarding the past financial year. It is clear from the corporate governance statement of the firm that the board members have effective responsibilities for performing their activity within the firm (Sullivan, & Gouldson, 2017). Some of the vital responsibilities carried on by the board members are the formation of the effective strategy than the financial reporting, sustainability and even the monitoring of the policies as well as practice within the firm.
The firm maintains its core values and their business process effectively by maintaining the stakeholder along with the shareholder of the business (Parkinson, 2018). In this system, the business also effectively maintains the code of conduct that is highly suitable for developing the business process and the working function of the firm. The organisation is in the process of delivering gender equity within their work that will eventually help to develop the value and the skill of the people. It is the fact that the business has increased their revenue and their profit by maintaining the activity and the effective, valuable process within the field (Devin, & Richards, 2016). The value along with the working function of the entire management team has provided a valuable business process within the market.
The paper concludes that the entire business process and the working function of the firm maintain valuable products formation within the field for the betterment of business growth. The annual report of the firm effectively shows its business growth and its corporate governance activity within the market.