STRATEGIC MANAGEMENT OF WOOLWORTHS.

Running head: STRATEGIC MANAGEMENT OF WOOLWORTHS
Three Different Approaches to Strategic Management in the context of Woolworths
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STRATEGIC MANAGEMENT OF WOOLWORTHS
Executive Summary
The aim of this report was to identify the applicability of three different approaches to strategic
management in Woolworths. As found in the study, there are traces of application of RBV,
Market Based View and I/O Theory in the company. The report based on its analysis of the
company recommends Woolworths a few strategies to do better with RBV and other strategic
approaches. One of the recommendations as mentioned in the conclusion section of this report is
to offer 24/7 service for special products like fresh sushi bars. The findings of the report claims
this service as useful in reducing the food waste.

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STRATEGIC MANAGEMENT OF WOOLWORTHS
Table of Contents
Introduction......................................................................................................................................3
Three Different Approaches to Strategic Management...................................................................3
Resource Based View (RBV)......................................................................................................3
Market Based View.....................................................................................................................6
Industrial/Organisation (I/O) View..............................................................................................9
Conclusion.....................................................................................................................................11
Reference List................................................................................................................................13

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STRATEGIC MANAGEMENT OF WOOLWORTHS
Introduction
Few strategy management approaches are generally used by firms to gain the dominant
control of the market and produce unfavourable business conditions for the new entrants.
Resource based view (RBV), market based view and industrial/organisation (I/O) view are
amongst these approaches. The significance of adopting these views and potential challenges to
be faced when applied to the real-world scenario will be the report discussion topic. The
discussion will be conducted in the context of Woolworths, the chosen case organisation for this
report.
Three Different Approaches to Strategic Management
Gaining a foothold in the market is important; however, sustaining it is even more
important. A position can be sustained only if a business has access to and control of resources
needed to acquire a sustained competitive advantage. This section will discuss such resources
particularly in context to Woolworths.
Resource Based View (RBV)
 Suggested Benefits
RBV can be beneficial in assessing internal organisational resources and identifying the areas of
improvement. Such assessments should happen regularly prior to the launch of a project to know
whether a business can handle it. Resource based view (RBV) of an organization can be best
obtained from conducting a VRIN analysis of the firm. A VRIN analysis evaluates organisational