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MGT5MPT Management Practice And Theory | Woolworths

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Royal Melbourne Institute of Technology

   

Management Practice And Theory (MGT5MPT)

   

Added on  2020-03-07

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Woolworths is one of the leading supermarkets in Australia and its major goal is to fulfill the needs of the customers. The company has set up certain standards in providing quality service to the customers and also improving its area of operation. The effectiveness of an organization can be measured by analyzing the different criteria such as profit, growth, stability, turnover, and cohesion. Many companies focus on productivity, quality, and efficiency as a means to measure the effectiveness of the company.

MGT5MPT Management Practice And Theory | Woolworths

   

Royal Melbourne Institute of Technology

   

Management Practice And Theory (MGT5MPT)

   Added on 2020-03-07

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Running head: EFFECTIVENESS OF WOOLWORTHSEffectiveness of WoolworthsName of the student:Name of the University:Author’s Note:
MGT5MPT Management Practice And Theory | Woolworths_1
1EFFECTIVENESS OF WOOLWORTHSWoolworths is one of the leading supermarkets in Australia and its major goal is to fulfillthe needs of the customers. The company has set up certain standards in providing qualityservice to the customers and also improving its area of operation. Wools worth satisfies millionsof Australian customer’s everyday and it performs very well in the retail sector. The quality ofservice affects the customers, share holders and the supply chain of the company (Beneke et al,2015). According to me, effectiveness of an organization can be measured by analyzing thedifferent criteria’s such as profit, growth, stability, turnover and cohesion. Many companiesfocus on the productivity, quality and efficiency as a means to measure the effectiveness of thecompany. The criteria’s for the effectiveness of the organization varies according to the time. Forevaluating the effectiveness of an organization, the criteria must be chosen and then the workmust be carried out accordingly. The organization has to set our certain standards and criteria tomeasure the effectiveness (Cobiac et al., 2017). I also think the effectiveness of an organizationwill help the company to increase the satisfaction of the employees, maximize the productivitylevel and also reduce the employee’s turnover. The effectiveness of the organization helps theorganization in tough times. I would select the profitability of Wools worth for selecting theeffectiveness of the organization (Wardle & Chang, 2015). The growth results of the companyand the ability of the company to satisfy the customers are also the different criteria for selectingthe efficiency of an organization. I think Woolworths must adapt to the dynamic environment inorder to improve the organizational performance. I have selected these criteria to measure theeffectiveness of Woolworths because this will help me in analyzing the performance of thecompany in comparison with the other supermarkets of Australia. It will help me to know the
MGT5MPT Management Practice And Theory | Woolworths_2
2EFFECTIVENESS OF WOOLWORTHSkey financial performance indicators of Woolworths and also help the company to improve itsperformance in comparison with the other companies (Ball, Mouchacca & Jackson, 2014). Woolworths tries to satisfy the customers and this helps the company in the bettermentof their profile and catalogue. I think the company must keep a close monitoring of thesatisfaction of their customers in the entire business mechanism. The company has about 3.8million customers and this will help the company to improve the segmentation model. Accordingto me, I think the company has developed various strategies to bring awareness among theemployees and also the customers. The shareholders and the owners are affected by theprofitability of Woolworth. There are several strategies which are taken for the businessexpansion of Woolworths (Shehada & Alkhaldi). According to me, I think the owners mustdecide to expand its area of operation from food to hardware and petrol. Thus, the company isimproving its area of effectiveness. Woolworths has also responded very well to the customers.The company has supported the concept of seasonality and thus the demand for the product hasalso increased. The employees must have a proper understanding of the business programme andthus they can also check the annual report to check the effectiveness of the company. Thecompany is also trying to quantify the enthusiasm and innovation of the employees in theintegration of the business and also to maintain sustainability in business. Woolworths is alsotrying to grow and maintain properly with its shareholders and to invest much more for thebetterment of the community. Effectiveness of Woolworths can also be maintained by a thoroughanalysis of the various strategies and performance. I have found that Woolworths needs to constantly encourage their employees andmanagers for taking the responsibility for the development of their company. The company musttry to develop a proper strategy for the employees and they also need to develop such a plan
MGT5MPT Management Practice And Theory | Woolworths_3

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