Strategic Analysis of Woolworths
Added on 2020-03-02
14 Pages3918 Words193 Views
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Running head: STRATEGIC PLAN0Strategic plan and implementation
STRATEGIC PLAN1Executive summary:It is the report that discusses about the company called Woolworth. It is the company that operates in the industry of supermarket. The report initiates with the discussion of the company’sbackground information. The report focuses on the vision and the mission of the company as well as the approaches that has been used by the company to achieve the same. Strategic analysisof the company is done in the next section of the report so that the revised mission and vision is identified and framed for the company with better opportunities for the company to avail. SWOTand PESTLE analysis is done to conduct the strategic analysis of the environment. According to the analysis, the new strategic plan is developed for the company. The next part of the assessment discussion about the implementation of the plan and the objectives achieved. The lastpart is about the communication of the pal to various audiences.
STRATEGIC PLAN2Table of ContentsCompany background:.................................................................................................................................3Vision and mission:......................................................................................................................................3Approaches to achieve vision and mission:.................................................................................................3PESTLE analysis:...........................................................................................................................................4SWOT...........................................................................................................................................................4Potential competitors:.................................................................................................................................6Revised vision and mission:.........................................................................................................................6Organizational values required:...................................................................................................................7Formulation of strategic objectives.............................................................................................................7Develop strategies: timeframe, parties responsible, and performance indicators......................................7Part 2:..........................................................................................................................................................8KPI progress:................................................................................................................................................8Milestone progress......................................................................................................................................9Overall progress........................................................................................................................................10Improvements:..........................................................................................................................................10Communication plan: audience, resources, time frame, presentation......................................................11References:................................................................................................................................................12
STRATEGIC PLAN3Company background:Woolworth is the firm that operates in the industry of supermarket. The company started its first store in Sydney in the year 1924. Till the year 2012, the company has been considered as the biggest firm in the industry (Australia, 2007). Today also, it is one of the largest supermarket chains in New Zealand as well as in Australia. There are number of brands that the company operates such as Safeway, Dick Smith and Big W etc. the major function of Woolworth is that it acts as the mediator between the producers and the customers (Woolworths, 2017). The companyserves the people with their online website as well and thus it makes the customers base from theonline services. There are many competitors to the company but the major one is Coles. Both these companies have duopoly nature of leadership in the supermarket industry of Australia but government these days is suppressing their power and giving chance to the new companies to enter the industry so that the duopolistic situation can be controlled and the new companies can also serve the people in the market. Vision and mission:As far as the vision of the company is considered, it has been analysed that the company believesin delivering the best shopping experience to the people every time. The mission statement of thecompany suggests that it wants their customers to be fully knowledgeable about the products andthe services they are availing from the company. Approaches to achieve vision and mission:There are different approaches of the company to achieve the above stated vision and mission. There are four strategies that have been used by the company in order to have the vision and the mission of the company. The strategies are:Extending the leadership in the area of food and liquor.Improving the portfolio of the company to increase the value to the shareholders.Tracking the records in order to grow.Putting in place all the areas for growth.
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