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Concept of Business Strategy of Woolworths

   

Added on  2021-06-17

12 Pages2830 Words35 Views
Running head: COMPETITIVE STRATEGYCompetitive StrategyName of the Student:Name of the University:Author’s Note:
Concept of Business Strategy of Woolworths_1
1COMPETITIVE STRATEGYExecutive SummaryThis report will discuss about the concept of business strategy in the light of the businessorganization of Woolworths Limited. The report will give an introduction of the companyand will try to analyze the company through the lens of the frameworks of PESTLE analysisand “Porter’s Five Forces”. The report will also discuss the rivalry faced by the concernedorganization and the various strategies used by the organization for its business purposes.Finally, the report will conclude with some recommendations which the company can followto further enhance its prospects in the business market of Australia.
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2COMPETITIVE STRATEGYTable of ContentsIntroduction................................................................................................................................3Woolworths Limited..................................................................................................................3Situational Analysis...................................................................................................................5PESTLE Analysis...................................................................................................................5“Porter’s Five Forces”............................................................................................................7“Threat from new entrants”................................................................................................7“Threat from the rivals”.....................................................................................................7“Bargaining power of the suppliers”..................................................................................7“Bargaining power of the customers”................................................................................8Industry Rivalry.................................................................................................................8Competitive Rivalry...............................................................................................................8Strategies....................................................................................................................................9Recommendations......................................................................................................................9Conclusion................................................................................................................................10References................................................................................................................................11
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3COMPETITIVE STRATEGYIntroductionThe “advent of globalization and the recent developments in the fields of technologyas well as the innovations has much transformed the way the various business organizationstransact their business in the recent times” (Wagner and Hollenbeck 2014). It is a reflectionof this that the level of competition faced by the various business organizations has increasedsignificantly in the recent times and thus the various business organizations take the help ofvarious innovative strategies to mitigate the level of competition faced by them in thebusiness world (Wagner and Hollenbeck 2014). These innovative strategies not only help thevarious business organizations to mitigate the high level of competition faced by them withinthe business world but also help them “to bring about the overall growth as well as thedevelopment of their entire business process” (Hoejmose, Brammer and Millington 2013).Therefore, it would be apt to say that it has become very important for the various businessorganizations in the recent times to take the help of diverse kinds of innovative strategies tostay ahead of their business competitors operational within the same field of business(Hoejmose, Brammer and Millington 2013). This report will discuss about the competitivestrategies of the company “Woolworths Limited” while focusing on the situational analysis ofthe concerned organization and the business strategies used by it to “bring about the overallgrowth as well as the development of its business operations”.Woolworths LimitedThe company “Woolworths Limited”, founded by “Percy Christmas, StanleyChatterton, Cecil Scott Waine, George Creed and Ernest Williams” in 1924 is not only one ofthe major retail business organizations of the nation of Australia but also of the world(Woolworthsgroup.com.au. 2018). The business organization under consideration hereprovides a range of retail services to the customers of the nation of Australia starting from
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