Woolworths Growth Analysis Assessment Answer
- To generic
- Need more references in each paragraph
- Not too critically evaluated
- Please fix the EFAS table
- Please fix the balance scorecard
- Put more references
- Need more critique
- According to him he will not give me good marks if references will be less, although writing is ok but need more critique as its level 9 paper.
- Please have a look downwards.
“Woolworths Growth Analysis”
Retail business is considered to be the most popular segment of growth and opportunity for expanding a business to a wide scale. Woolworths is a well-known chain of supermarket business in Australia, offering high-quality services to the customers and operating in about 995 stores with around 115,000 team members. The group aims to be maintaining a healthy and affordable food directory for its customers and community, as the main clients. On the other hand, the leadership style and of an organization markets it able to establish a strategic and sustainable business plan of action (Kossek et al., 2018). Woolworths seems to be following transformation leadership style leading to growth and evolution and find better prospects (Iglesias et al., 2019). In this regard, it is evident based on the organization management that Woolworths comprises of a Flat organization structure dealing entire supply chain network of retail business.
2. Opportunities for Growth
Figure 1: Ansoff Model
Source (Gurcaylilar-Yenidogan & Aksoy, 2018)
As per the EFAS analytical table, it has been highlighted that the organization Woolworths might focus on the Market penetration factor under Ansoff Matrix. The development of the organization is dependable on the practices done by the organization in the market that helps to improvise the market performance. Gurcaylilar-Yenidogan & Aksoy, (2018) commented that Ansoff Matrix is one of the most effective techniques that help to generalise the future market. The statement has deduced that market development is one of the most important tasks for the organization that is needed to be analysed by marketers with the aim to measure the certainties of the future market (Desai, 2019). As per the ESAF table it has been identified that the organization Woolworths has focused on the use of technology in the market for promoting their products and services in the proposed market. The analysis has reported that the organization has well focused on the emerging technology that is needed to develop the current market situation of the organization.
From the analysis it has also been analysed that due to the increasing rate of population and the use of internet in daily life, emerging technologies would be beneficial for the Woolworths. Frizzo-Barker et al. (2016) commented that technologies are the best way to promote the business towards positive growth in the targeted market. The statement has deduced that for the organization, its market plays important role, as the market provides physical field to the organization for offering relevant products and services in the market (Fernie, Fernie & Moore, 2016). Hence, it has been justified that as per Ansoff Model, market penetration is being highlighted for resolving the marketing issue in the future for Woolworths.
As the Organization has focused on the use of technologies only so market penetration factor would be helpful for Woolworths to get better market in the future. It is important for the organization to get better environment in the proposed market so that the particular organization can perform as per the expectations (Desai, 2019).Woolworths has enough market strength to deal with expectations as well as preferences of its customers in the targeted market.
In addition, according to the Ansoff model the organization is now dealing with emerging technologies in the market that might be helpful for Woolworths to attract more numbers of customers in the market. Few threat factors have also been described along with the opportunity factors but the positive fact is Woolworth has enough market shares to deal with such threats. The increasing rate of population and the demand for the use of the technology in the market for purchasing any products and services in the market will help Woolworths to catch minds of their customers by using such kind of digital marketing tools. The ESAF analysis has even helped to estimate the chances of growth in the proposed market. The ESAF model has described the weight of risk factors in the market that has helps to know the chances of opportunity in the market.
An economic factor can be the biggest opportunities for the company. The company can even enjoy the presence of resources in the emerging markets. By having an effective growth, the company can easily invest in the building the brand activities. The technological factor helps to develop the products. Chen, Su & Hiele (2017), defined that the technological factors have found to be beneficial for the company and also implement the employment existing in the community. The company has an effective option to develop the market share according to the growth as the governmental body has an effective growth in the income of the company. Therefore the company has an effective potentiality to emerge the market with the products in the huge market. The different opportunity lies in have the capability to create differences as having the store experience. As there are more opportunities established and stored, the company will develop automatically. As mentioned by Santos, Svensson & Padin (2015), by having the emerging growth and margin, the organization prepare to build the activities and have a proper reputation for the individual brand, it develops the manufacturing process. The technological factor is helpful for the company to develop the products along with the brands in the emerging market by analysing the concept of tools and techniques of marketing (Chang & Taylor, 2016). It has been also observed that in the advanced economies the unemployment rate has been reduced and the development in the wages has raised the rate of inflation which seems to be at low level. The wages have also developed with an effective pressure that is achieved with much supply.
In the advanced economies, the unemployment rate is reduced, and the rate of inflation is low. The economic factors put a negative impact on the rate of inflation, tax rate, food quality, and unemployment rate (Fern Fort University, 2019). The unemployment rate is reduced, and the rate of inflation is low. The Australian economy can sustain the lower rates of unemployment and underemployment. The major threat is cost factor. The company faces an individual development and cost program for motivating the employees according to the latest technology. The major disputes associated with the trade and technology put huge impact on international trade and with international trade with the investment and business because of developing the developing the major uncertainty (Najam, Runnalls & Halle, 2016). The statement has deduced that the authorities have taken major steps to help the economy that focuses on the identified risks in the financial system.
The organizational improvement is dependable on the process of technology applying by the company for improving the further growth of business in the market of competition (Wang & Kim, 2017). It has been observed that cybercrimes are increasing in the competitive market because of the small sector as well as large and small organisation is preventing the use of the technology such as cloud computing in the competitive market. The companies have also faced a broad IT crash in the supermarket and have also compelled to generate an individual disorder in the checkouts. Such kind of outage results in huge loss for the company.
4. Balance Scorecard
A balanced scorecard is an important tool of an organization used for the purpose of enhancing various internal functions and external consequences of organisational performance. In other words, the process of evaluating financial as well as non-financial aspects in business to secure valuable resources in order is mainly controlled by strategic management (Gawankar, Kamble & Raut, 2015). Below is a presentation of Balance scorecard analysis of Woolworths:-
Figure 2:- Balance Score Card of Woolworths
(Source: Woolworth Supermarkets-Woolworths Group, 2019)
Financial Concern for Woolworths:
The financial objective of Woolworths leadership team would be concerning increasing the annual revenue in every financial year by around 2% within the Australian market. It can be measured with the help of regular expenses of the cash flows by hiring a strong and efficient accounts team. Their targets would be from customers visiting the retail stores or from digital e-commerce platforms by offering some suitable discounts (Woolworths Supermarkets- Woolworths Group, 2019).
Customer Perception of Woolworth:
The objective of the customers of Woolworths is to feel satisfied with the quality of products and shopping experiences and serves provided at home after the sale. This can be done through various mediums like updating social media page, through mobile applications or email feedback options as well (Felix, Rauschnabel & Hinsch, 2017). The target audiences are the premium customers as well as middle-class people having confusion during shopping and no time to shop.
Internal Process of Woolworths:
The internal process objective of Woolworths is to reduce and control the cost of the invention and produce a quality production. Besides, it can be measured by recruiting skilled operation staffs and experienced management officers able to handle their target audiences of supplier’s team and logistics managers in a proper way.
Learning & Growth perspective of Woolworths:
Woolworth is required to improve better training and induction team to provide effective learning and employee interactive session. The objective of the company is to make sure about employee competencies to handle multiple area of stores. Besides, it can be measured by a regular performance evaluation process and employee appraisal for motivating them at work.