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Economics Sample Assignment Introduction Background of the industry and company The retail industry in Australia comprises of aboutretail companies and businesses. The Australian supermarket retail industry is one of the most concentrated and strong industries in the world Wardle and Baranovic, The largest players of the Australian supermarket retail sector are Woolworths and Coles, which are owned by Woolworths Ltd.
Though these giant supermarket stores offer good quality products. Woolworths began operations in the year with a small basement store in Sydney, Australia. Since its inception, Woolworths has grown into a supermarket giant. It has become the first choice of almost every household in the metropolitan as well as the regional areas of New Zealand and Australia.
Woolworths began as a fresh food supplier 60 years ago by the brand has widened to offer a huge range of grocery and food products. Each brand under Woolworths Ltd.
The retail product portfolio of the company includes liquor, grocery, fresh food products, general merchandise, electronics and fuel. The following data gives a brief glimpse of the history of Woolworths Ltd.
The brand established itself as the largest retailer of fresh food products in the world. The brand became the market leader in the retailing sector of Australia. The brand entered into several other sectors with petrol gas stations and hotels.
Stakeholders Of Woolworths With a huge organization like Woolworths there are bound to be many stakeholders as it holds a social responsibility.
The stakeholders of Woolworths Ltd include-: The customers are the most important and valued stake holders for the organization.
All the new products are tested in highly customer friendly environment and workshops, so as to attain high customer satisfaction. The investors make Woolworths what it is today.
With their trust and confidence the brand has reached and attained new heights. In addition, an investor call centre service operates specifically to the queries of all its investors. An investor centre on the main website also enables the investors to email their queries directly to the CEO of the company Rotembuurg, Employees at Woolworths Ltd.
The employees and their hard work is what have made Woolworths the giant it is now. The company is highly focused on building, developing and diversifying the capabilities of its employees to meet current and future challenges and opportunities Rotembuurg, The company conducts many training programs for its employees including the networking, mentoring, targeted leadership programs and other such development activities.
Another highly important category of stakeholders of Woolworths Ltd. The company holds annual trade performance measurement meeting and awards and recognizes innovations by its partners. The company celebrates partnerships with its esteemed suppliers by awarding them the Supplier of the Year award The few other stakeholders of Woolworth Ltd.
Vision Statement The clear understanding of the vision and mission of the organization is one of the key factors behind developing a strategic plan.
The vision statement of the organization outlines where the organization sees itself a few years down the line and the organizations wants to be in the environment in which it works. The vision statement is generally motivating and inspirational. The mission statement on the other hand outlines the fundamental principles of the organization.
It describes in detail about the organization and what it does to attain its goals and vision GlobalData, For defending its leadership in the market, it is highly essential for the company to achieve its vision statement. The following factors include how Woolworths Ltd can achieve support for its vision statement-: Understanding the needs of a changing business-:idual Lesson Plan (template) Flexibility p Tips on Flexibility business.
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