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Woolworths Group Strategic Analysis

   

Added on  2020-05-08

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Running head: MANAGING SERVICE RELATIONSHIPS1
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MANAGING SERVICE RELATIONSHIPS2MANAGING SERVICE RELATIONSHIPSInstitution Student Date
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MANAGING SERVICE RELATIONSHIPS3MANAGING SERVICE RELATIONSHIPSINTRODUCTION Characteristics of the Nominated CompanyWoolworths Limited is one of the prominent companies in Australia with wide-ranging retail interest all over the country as well as New Zealand. This is the second leading corporation in Australia in terms of income, after Perth-based merchandising-engrossed company Wesfarmers, and the succeeding prevalent in New Zealand. Moreover, Woolworths Limited is the biggest takeout liquor vender in Australia, the most prevalent hotel and betting poker machine operator in this nation, and in 2008 it was the 19th leading trader globally. The Company’s obligation to hard work and reliability is unyielding[ CITATION Woo17 \l 1033 ]. They are gratified of their down-to-earth principles and they celebrate their family-friendly standards. Most of the high-ranking leaders in Woolworths started their occupations with them on the shop floor, and therefore all these philosophies are knitted into every aspect of its processes, from the sales counter all the way up to the executive level.FINDINGS The relationships with key stakeholdersThe primary goal in this business is to ensure customers put them first, across every brand. In attempt to achieve this core purpose, Woolworths Ltd starts with structuring an outstanding merchandizing team which pays attention to various stakeholders such as customers, team members and suppliers[ CITATION Woo17 \l 1033 ].The authentic wellbeing of every stakeholder is taken into consideration to energize a maintainable future. Comprehending the safeties and anticipations of its main stakeholders thus plays a critical role in developing those relations to sustain the formation of a workable value proposition. Shareholder commitment and constructing
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MANAGING SERVICE RELATIONSHIPS4interested party contacts have remained essential to the manner they carry out business. Some of the investor affiliations are more industrialized than others – suppliers, employees, customers, and shareholders specially. They have acknowledged that they ought to have a more unswerving methodology across every stakeholder group and so the Company is brushing up and solemnizing its attitude to stakeholder commitment[ CITATION WOO16 \l 1033 ].The Key Strategic Issues That Have Impacted On the Relative Success of WoolworthsLimitedWoolworths has announced various strategies that have contributed immensely to its success in various dimensions. Lately, the Company has delineated its strategies meant to gain the trust of its consumers, and upsurge its segment of purchasers’ food spend through lesser prices and refining every aspect of their shopping. Woolworths Ltd is retaining the customer at the twitch ofeverything it undertakes. This strategy has resulted in subordinate prices, more convincing deals,and grander modernization experience[CITATION MdM18 \l 1033 ].Woolworths has initiated a strategy to concentrate on three key principles:1.Offer: Refining the central offer to make sure that consumers put Woolworths Ltd first;2.Growth: Revolutionizing to satisfy more of these purchasers’ needs; and3.Efficiency: Forming supplementary customer value by consolidating for success and implementing the ‘Lean Retail’ classical[ CITATION AFN15 \l 1033 ]. Woolworths is already well in progress of executing the first groundswell of this strategy with a foremost investment platform which includes:Around $125 million of price cutbacks for consumers from January 2015, winning the Company’s value point to its most reasonable level since January 2014, with much to fall in place;
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