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BIZ202: The Business Environment Assignment

   

Added on  2020-04-21

14 Pages2858 Words50 Views
Running head: BUSINESS ENVIRONMENTBUSINESS ENVIRONMENTName of Student:Name of University:Author Note:

1BUSINESS ENVIRONMENTTABLE OF CONTENTIntroduction:....................................................................................................................................2Analysis of Business Environment:.................................................................................................3Recommendation of Strategy:.........................................................................................................5Conclusion:......................................................................................................................................6Summary:.........................................................................................................................................6Reference:........................................................................................................................................8Appendix..........................................................................................................................................9

2BUSINESS ENVIRONMENTIntroduction: The retail sector in Australia is one of the larger contributor to its overall service sectorwith capturing an annual growth rate of 3%. With increase in online-based demand over thestore-based market operation the retail market is booming and expanding. Popular retail basedsupermarkets like Wesfarmers, Woolworth, Coles, Aldi owe its existence in Australian domesticretail market (Xu, Gao & Hammond, 2016). In terms of food and liquor, the Woolworth isAustralia’s biggest supermarket chain operating in retail market with operation extended through995 stores all over Australia. Even if the firm has substantial market power yet there are externalfactors operating outside the firm having equal importance impacts the business condition. The report aims to identify and assess the extent of such macro factors that determine thebusiness growth, challenges faced by Woolworth while proposing for solutions that can beundertaken. The report is prepared based upon the various analyses conducted upon wool

3BUSINESS ENVIRONMENTAnalysis of Business Environment: Social Media Tool Analysis: Social Media Bookmarking– A widget like application allowing products along with brandsand category to be shared on website pages, social sites and email. The option of wish list makesit an ideal tool to share ideas. This tool is not free and monthly charges are applicable (Okazaki& Taylor, 2013). Sharing wrong information misleads users generating spam. Regularmaintenance of account with due care is important solution.Facebook Like Button-The like button in facebook Woolworth page allow consumers to shareproducts detail to own facebook profile. Like box option allows consumers to stream productsfrom ecommerce website of Woolworth just clicking the like page. This is limited to facebookusers only hence more sign-ups can add more likes increasing the popularity of the pages sharinginformation of the firm.Activity Feed- It is helpful plug-in to track the activity of buyers on the website of the firm. Itrefers to multiple data and requires strong analytics to decode information from activities.Business Analysis:Pinterest Analytics: Helps in promoting better understanding of the content and users throughrecording data on the interest profile. It allows getting insight of the engagements audiences havewith the content of the website. One account can access one site at a time hence multiple accountrequired in order to access multiple websites. Functions only through official site of accountholder and unable to track the pins shared on other sites.

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