Strategic Management Report 2022

Management
Strategic Management
Student’s name
8/23/2019

Strategic Management 1
Executive summary
This report mainly highlights about the strategic aspects of the management of the company.
The company applies to it in order to generate more success not only in financial terms but also
in terms of reputation. Other than this, formulation strategies and the course of actions, which the
company adopted to attract more of customers and earn success for the longer, time period.
Likewise, focusing on customers along with the digital aspects leads to the generation of
accomplishment of set objectives and goals of the organization. Hence, Woolworth in this case
highly applies the customer centric approach. Moreover, certain recommendation such as being
innovative, development people and performances are the core areas on which they are working
to attain success.

Strategic Management 2
Contents
Executive summary.........................................................................................................................1
Introduction......................................................................................................................................3
Course of actions.............................................................................................................................5
Conclusion.......................................................................................................................................7
Recommendations............................................................................................................................8
References........................................................................................................................................9

Strategic Management 3
Introduction
Strategic management is one of the finest processes, which mainly comprises of continuous
planning, monitoring and analysis and assessment of various objectives and goals, which are set
by the organization. It also includes the organizations innovations, new emerging technologies
and meeting the end customers’ needs and wants and for all this, they keep on making the
strategic decisions to remain successful for the longer period. Hence, it is seen that strategic
management process helps the entire company to see the present situation, take suitable actions
and make various strategies, deploy them and after analyzing the effectiveness implement the
strategies and generate more success to organization (Ungson, & Wong, 2014).
In terms of core competencies is a mainly highlight about the specific factors which helps the
companies to do something different as compared to the other companies dealing in the same
offerings. It basically highlights about the unique capabilities of the companies which helps them
to achieve the competitive advantage. Hence, in simple words, core competencies is the deep
proficiency which enables the organization to deliver unique value to its ultimate customers and
further it helps the organization to attain its set objectives and generate more success in an long
run.
In terms of Woolworth, it is the most famous food group, which applies various strategies to win
faith of its clienteles, and upsurge its part of the clienteles by providing products and services at
lower charges and working over refining all the features of the shopping knowledge of the
customers.
It was seeing that the face of the retail is evolving quickly, as with time in terms of technological
aspect Woolworth has started focusing over the online shopping experience, which generates the
exponential growth rates globally. As for Woolworth, customers’ needs their preferences and
behavior continuous to evolve rapidly and with increasing time, seeking for more convenience in
every day shopping. By knowing this, Woolworth develops the online delivery, pick up and
drive-thru options or strategies are up-graded in order to improve the customers’ experience.
Another strategic aspect, which Woolworth applied to generate the competitive advantage, which
highlights about the corporate responsibility and sustainability aspect which mainly covers

Strategic Management 4
Woolworth stakeholder including customers, team members and suppliers. Other than this,
Woolworth commitment to social responsibility includes minimizing the impact on the
environment and seeking to maintain its reputation for longer run (Arli, et al, 2013).
Thirdly, the competitive advantage of the Woolworth is to meet the needs of the customers,
which remains the core priority with certain initiatives and investment in place across the digital
channels, physical store networks and technology platform underway. However, such aspects
highlights that the company follows the customer centric approach in which customers are the
assets to the company, they need to perform all those activities or set the strategies accordingly
which majorly benefits the customers and overall success of the firm and reputation.
Other than this, Woolworth in terms of competitive advantage also thinks of safety, health and
wellbeing of customers, team members, visitors and suppliers. On board sustainability committee
ensures an oversight safety and health policies, programs, training risk management and along
with this, they also works over improving safety and develop a culture of care across the entire
business and also generate their key focus over the management team for the effective outputs.
Hence, after analyzing the various strategies it is seen that Woolworth success mantra mainly
highlights about the taking out the best cost before the need arises in the market. Hence, it
focuses on saying that Woolworth always focus on its cost in order to invest in their customers
without scarifying margins. Therefore, kit not only helps the company to generate its name in the
market along with the generation of the success.
Other success factor of Woolworth states that they always stay tuned with their customers.
Woolworth in this case is gaining share of the basket in the tougher economy by investing more
of their time in improving its customer’s loyalty program. Other than this, company also uses
data to broaden its private label offerings. Moreover, the company also adopts cautious approach
by promoting private label products that attracts repeat customers through the smack of
discounting.
Lastly, Woolworth winning the culture is the heart and the soul of the retailer that consistently
outperforms the competition. As such culture motivates the employees to do the right things and
work accordingly so that the services should be in the minds of the customers. Moreover, the
abundant evidence of companies success mainly links with loyal and motivated workforce which

Strategic Management 5
in future foster employees loyalty which in future helps the company to generate and gear up the
new success story.
Other than this further this report highlights about the formulation of the strategies process which
is mostly driven by the competitive advantage which mainly focuses on technological and
sustainability aspect. Along with this, enjoying the benefits of economies of scale by leveraging
the efficiencies from the internal as well as external drivers and the resources.
Hence, the current strategy, which Woolworth adopts, is that they focus on offering the
customers by inspiring, engaging and developing relevant digitalization techniques and in store
journeys, helping the employees to deliver a consistent, and brand aligned customer’s
experience. In addition, most importantly, connecting with its ultimate customers seamlessly
through physical stores as well as through digital platforms which not only helps them in
improving the overall reputation in the market but it also leads to generation of success in long
run (Flax, Bick, & Abratt, 2016).
Course of actions
Course of actions, which is adopted by Woolworth mainly highlights about the best ways, which
are adopted by the company to finally grow its business on the profitable basis. In this case, we
have seen that company like Woolworth mainly focuses on their customers and the offerings
made to them. By acknowledging the fact that the customers are god for them as by seeing
quality, convenience and other sustainable aspects are considered (Laffy, & Walters,2016).
Another reason highlights about the customers expectation, which the company mainly focus for.
By maintaining the customers’ expectation by the actual supermarket experience for this
Woolworth practices should be on to meet the higher value which indicates that brand must work
harder to maintain its standards they have established to be successful (Hickman, & Silva,
2018).
Thirdly, the company should also focus on its perceived quality, in order to generate the great
value. As it is seen that convenience and locations are the top influencer for the customers’
choice in the supermarket. Along with this, flow of speed with which the work is carried on
inside the store, maintaining the higher quality of products, fresh products, product availability

Strategic Management 6
and prices and the promotions. Hence, all these determines that Woolworth should introduce
the customers loyalty programmes, providing premium products which helps the company in
improving the customers experiences (Bayne, Schepis,& Purchase, 2017).
Other than this, with time innovation is one of the finest way to which the company can earn
more than normal. IN this when the companies comes up with the newer ideas, generating more
creative changes in the organization. All these ways will definitely attracts more of customers
and innovate changes attract them to buy more than usual. Hence, this highlights that innovation
is must in organization, which will further helps the company to lead to the path of success
(McKee, 2014).
Other than this, they company should always focus on their customers. They should follow the
customers’ centric approach, as they are the most important aspect of the company success. They
should prioritize the customer’s needs, wants and desires and accordingly they should set their
future companies strategies, which will further help both the customers as well as company to
grow and earn at the faster pace (Gavetti, & Porac, 2018).
Maintaining the companies agility is also one of the most important aspect, In this respect,
company do need to comes up with the newer was of doing its business like, being flexible and
adapting the company to face the changes which are occurred due to the environmental changes
also one of the finest way of learning. Through this process, company leads itself to the
continuous optimization. As this helps the company to improve their process further and leads to
the efficient way to success by bringing more value to customers which finally leads to the
higher profits for the firm (Cheng, Green, & Ko, 2014).
Other than this, in term of strategic goals for future of Woolworth, highlights about the offer in
which they will improve their core offerings to ensure that the customers put Woolworth at the
first place. Other than this they also thinking of growth through innovating various strategies in
order to meet the clienteles demand, requirements and desires. Lastly, they also also thinking of
creating or generating further customer value by organizing for success and executing the lean
retail model (Naidoo, & Gasparatos, 2018).
Other than these strategies, Woolworth is also working on pricing strategy and value strategy.
Measures will include the better ranging, lower pricing, targeted customers’ offers and along

Strategic Management 7
with this the improved loyalty programmes. Other than this, they also strategies their offer by
declaring higher quality and better priced products to be supplied in the market (Methner,
Hamann, & Nilsson,2015).
Other than this, Woolworth is also thinking of involving rebalance in between the capital
expenditure of new stores and the existing stores refurbishment. Moreover, refurbishments are
designed around the local market for customers, which generate the greater potential for the
customers as well as company to grow (Akehurst, & Alexander, 2013).
Woolworth also started with delivering the new products and the better experience for the
customers. As they are thinking of establishing the new division called Woolworth food
company. They have a responsibility for developing a new product range, along with the
different categories and process facilities. As, this aspect helps the company to develop the
planned tracing relations with their main business associates for the generation of more success
over time (Muthoka, & Oduor, 2014).
Lastly, Woolworth should develop the new and the main national online retailers aspect by
growing the venture in the multi-channel customers experience. By further exploring the online
pricing systems that has been aligned with the store pricing and the range of new products are to
be uploaded. Along with this, click and collect positions will also be set containing drive-thru
gathering points to increase the clienteles suitability which will surely leads to the success of the
organization in an long run (Chimhundu, McNeill, & Hamlin,2015).
Conclusion
This report mainly highlights about the strategic management aspect which is the most important
which at some particular time helps the company to know more about the environment along
with the future course of action that what all strategies are to be considered in future for the
generation of the success. As Woolworth is considered one of the well known company which
uses various strategies which had a major effect on their long term earnings. Other than this, this
report also comprises of formulation process with which the company works and along with this,
it also involves various other strategies with which the company can apply them in future to earn
more of profit than usual. Likewise, by applying more innovative techniques, more customer

Strategic Management 8
centric approaches, changes to be done in stores, shifting towards digital world are the ways,
which makes surely affects the future sales of the Woolworth.
Recommendations
By considering all the strategic aspects, now what all more changes can be done by the company
in order to win over competition and be the best in the eyes of the customers-
Woolworth for generation of more success should work within organization for calculating the
presentation of the in store groups and to place the customers metric to rate the service delivery
to them. Hence, it is very much important for the company to maintain its people and their
performance well in the organization as these factors majorly affects the sale as well as
reputation of the company (Oldman, & Tomkins, 2018).
Other than being more customers centric, the company should also focus on technological
aspects. As with time customers do like more convenience practices, good quality of products
which are matching their standards will surely leads to the success of the organization in longer
run,.
Lastly, the company should work over its innovative techniques in order not to lose their
customers who are loyal to them. Other than this, Woolworth should enhance their within
working systems along with the safeguarding the interest of its employees as well as customers
buy supplying best quality with best prices for the products (King, & Thobela, 2014).

Strategic Management 9
References
Akehurst, G., & Alexander, N. (Eds.). (2013). The internationalisation of retailing. Routledge.
Arli, V., Dylke, S., Burgess, R., Campus, R., & Soldo, E. (2013). Woolworths Australia and
Walmart US: Best practices in supply chain collaboration. Journal of Economics,
Business & Accountancy Ventura (JEBAV), 16(1).
Bayne, L., Schepis, D., & Purchase, S. (2017). A framework for understanding strategic network
performance: Exploring efficiency and effectiveness at the network level. Industrial
Marketing Management, 67, 134-147.
Cheng, M. M., Green, W. J., & Ko, J. C. W. (2014). The impact of strategic relevance and
assurance of sustainability indicators on investors' decisions. Auditing: A Journal of
Practice & Theory, 34(1), 131-162.
Chimhundu, R., McNeill, L. S., & Hamlin, R. P. (2015). Manufacturer and retailer brands: Is
strategic coexistence the norm?. Australasian Marketing Journal (AMJ), 23(1), 49-60.
Flax, J., Bick, G., & Abratt, R. (2016). The perceptions of supplier-buyer relations and its affect
on the corporate brand. Journal of Brand Management, 23(1), 22-37.
Gavetti, G., & Porac, J. (2018). On the origin of great strategies. Strategy Science, 3(1), 352-365.
Hickman, C. R., & Silva, M. A. (2018). The Future 500: Creating Tomorrow's Organisations
Today. Routledge.
King, L., & Thobela, S. (2014). Woolworths farming for the future. International Food and
Agribusiness Management Review, 17(1030-2016-83014), 161-166.
Laffy, D., & Walters, D. (2016). Managing retail productivity and profitability. Springer.
McKee, L. (2014). Retail Change: A Look at the Past, Present, and Future.
Methner, N., Hamann, R., & Nilsson, W. (2015). The evolution of a sustainability leader: The
development of strategic and boundary spanning organizational innovation capabilities in

Strategic Management 10
Woolworths. In The Business of Social and Environmental Innovation (pp. 87-104).
Springer, Cham.
Muthoka, M., & Oduor, P. (2014). Effects of strategic alliances on organizational performance:
supermarkets and their alliances in Kenya. European Journal of Business and
Management, 6(34), 75-89.
Naidoo, M., & Gasparatos, A. (2018). Corporate Environmental Sustainability in the retail
sector: Drivers, strategies and performance measurement. Journal of cleaner production.
Oldman, A., & Tomkins, C. (2018). Cost management and its interplay with business strategy
and context. Routledge.
Ungson, G. R., & Wong, Y. Y. (2014). Global strategic management. Routledge.