STRATEGIC BUSINESS PLAN-WOOLWORTHS

Running head: STRATEGIC BUSINESS PLAN-WOOLWORTHS
Strategic Business Plan-Woolworths
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STRATEGIC BUSINESS PLAN-WOOLWORTHS1
Table of Contents
Introduction................................................................................................................................2
Overview of the Organisation....................................................................................................2
Identification of the major issues facing Woolworths...............................................................3
Woolworths and the enhancement of its customers...............................................................4
Woolworths and the usage of the omni-channel business model..........................................5
Identification of the possible alternatives..................................................................................6
Resource Requirements..............................................................................................................7
Conclusion..................................................................................................................................8
References..................................................................................................................................9

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Introduction
As opined by Bryson (2018), strategic business plan is considered as a
methodological plan that helps a business entity to plan and prepare for the unforeseen
changes that occurs in the market place. The strategic business plan defines the key initiatives
a business entity can take up to accomplish a set goal and objective (Cassidy 2016).
However, as discussed by Wolf and Floyd (2017), the business entities for the effective usage
of the strategic plans firstly need to identify the key issues that they are facing and for the
effective resolution of these issues formulate different kinds of objectives. More importantly,
they are also required to take the help of different strategies or measures for the attainment or
the achievement of the objectives that they have formulated. This becomes especially
important from the perspective of the modern business world wherein because of the
dynamicity of the contemporary business world, the business entities commonly face
different kinds of issues (Kerzner 2019). In this connection, the given report is focused on
determining the business initiative taken up by the supermarket retail chain industry of
Australia named as Woolworths.
Overview of the Organisation
Woolworths is recognised as an Australian based retail chain business industry that is
specialised in selling the products related to grocery. It also deals with other range of
products such as beauty and personal care, products related to daily household as well as
stationery products (Woolworths.com.au 2019). The concerned firm was known to be
founded in the year of 1924 dated 5th December and was then named as Wallworths Bazaar
Ltd (Woolworths.com.au 2019). The same is headquartered in the region of New South
Wales, Australia. At the present scenario, the firm is known to have its operational wings
spread at over 1000 number of retail stores (Woolworths.com.au 2019). Moreover, the

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company is known to operate itself at an international basis. Studies in this connection show
that the organisation of Woolworths is recorded to stand at the second largest paradigm
concerning the retail chain business in Australia (Woolworths.com.au 2019).
However, the desire of the firm to stand at the first place and change its business
paradigm to a whole new scenario, the company has been taking a major business initiative
recognised as the optimisation of the customer acquisition. In this relation, it needs to be said
that the business enterprise from the year of its foundation until now had been taking the help
of the “brick and mortar” model of business for the purpose of offering retail services to the
customers which in turn had substantially narrowed down the customer base and thereby the
profitability of the concerned enterprise. Thus, Woolworths presently is taking the help of the
omni-channel business model for the purpose of catering to the needs or the requirements of
both the online and the offline customers. This measure had been adopted by the retail under
discussion here for the purpose of attaining its business objective, that is, to become the
largest retail enterprise of the nation of Australia.
Identification of the major issues facing Woolworths
Ansoff et al. (2018) are of the viewpoint that the business entities, for the effective
usage of the process of strategic planning, are required to identify the issues or the challenges
that they face, related to the conduct of their business operations in the business environment.
As discussed by Nickols (2016), this can be done by the business entities through the usage
of different kinds of analytical frameworks which help them to effectively analyse the
internal and the external environment of their business operations. Furthermore, on the basis
of the results that the business entities had gathered they are required to prioritise the
different issues or the challenges that they are facing on the basis of the impact of the same
on the business operations of the concerned business entity (Morden 2016). Vishnevskiy,