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Strategic Management In Woolworths

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Added on  2021-01-01

Strategic Management In Woolworths

   Added on 2021-01-01

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STRATEGICMANAGEMENT
Strategic Management In Woolworths_1
Table of ContentsSTRATEGIC MANAGEMENT...................................................................................................1EXECUTIVE SUMMARY...............................................................................................................3INTRODUCTION.............................................................................................................................3AIM...................................................................................................................................................3MAIN BODY ...................................................................................................................................4RECOMMENDATION.....................................................................................................................7CONCLUSION.................................................................................................................................8REFERENCES..................................................................................................................................8Books and Journal.........................................................................................................................8Online............................................................................................................................................8
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EXECUTIVE SUMMARYStrategies plays a very important role in making the business successful. The companyuses various models to implement strategies in the organization. Woolworths can use differentstrategies to have competitive advantage and to maximize its sales and profit. The first modeldiscusses in the report is ans off matrix which provides four business alternatives to help thecompany in formulating strategies. The four quadrant of ans off matrix shows diversification,product development, market development and market penetration under which Woolworths usesdiversification strategy to increase the profits of the company. The next model which is discussedin the report is business model canvas which is a graphical representation of different variablesthat show organization values. It is used by the company as a strategy tool for improvingperformance. It consists of many aspects which is mentioned in detail. The other model used bycompany for external analysis is porter's five force model as well as pest analysis which isimportant for company to consider when expanding its operations. The report then describesrecommendations that company can implement in the company to achieve overall objectives ofthe company which are maximizing sales, profit, cost efficiency and economies of scale.INTRODUCTIONStrategic management is the concept based on identification and evaluation of thestrategies related to which several decisions are taken by the managers to achieve business goals,improve performance and get competitive advantage (Lasserre,2017). To have a betterunderstanding of strategic management, the report will take Woolworth limited to understand howthis company can manage its strategy. Woolworth is the second largest company in Australia interms of revenue that deals in supermarket, petrol, liquor, hotels, finance etc. The report willinclude swot analysis along with pest, porter's five force model to do external and internalanalysis of the company. It will take ans off matrix into the consideration to see what strategydoes the company choose to improve its performance. Furthermore, it will focus on using businessmodel canvas to analyses the situation of existing business. At last it will include changemanagement along with the style of leadership that the organization implement on its employees.AIMThe aim of the report is to increase knowledge and of the students about strategicmanagement and its related activities to develop leadership and decision making skills.
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