Strategic Management for Coastal Businesses

This assignment delves into the crucial role of strategic management for businesses operating in coastal environments. It examines how these businesses can effectively utilize marketing strategies, maintain a strong online presence through their website and app, gather valuable customer feedback, and ultimately achieve their stated mission and vision. The analysis draws upon established theories and frameworks in strategic management, highlighting the specific challenges and opportunities faced by coastal enterprises.

Strategy & Management
Structures

TABLE OF CONTENTS
INTRODUCTION:..........................................................................................................................1
Nature of business..................................................................................................................1
Governance structure, processes and policies .......................................................................2
Corporate officers and their roles...........................................................................................3
Whether governance structure and policies reflect regulatory requirements.........................4
How organisation addresses and mitigates risk......................................................................5
Impact of internal and external factors...................................................................................6
CONCLUSION:...............................................................................................................................7
REFERENCES:...............................................................................................................................9

INTRODUCTION:
The structures of a business depends upon its size and nature. It shows that how business
activities will be performed and which department will be responsible for what task. There are
several government policies that has to be followed by business in order to maintain their
standards (Gamble, and Thompson, 2014). Also, business are responsible for providing high
quality goods and services to customers. Managers and employees are bound to follow polices as
it reflects their accountability to top management. For this a specific information structure is
developed so that communication flows in smooth way. Besides this, manager use information
management system to coordinate with each others. This report will show how business in retail
sector develops strategy and what structure they use. Moreover, how organisation address and
mitigates risks (Grant, 2016).
For undertaking this assignment company taken in domino's. It is having its operations in
Australia. There are various corporate officers working in it. They all are having different roles
and responsibilities. There are many roles and responsibilities that have to be followed by
corporate governance. They are the main base of organisation.
Nature of business
Retail sector business nature depend upon its products and services. They mostly operate
at large level. In retail sector there are variety of products that is available to customers. These
business have to maintain their products quality in order to increase customer satisfaction (Head,
and Alford, 2015). Moreover, these business profits and sales depends upon target market and
advertising strategy. Besides this, the y have to continuously develop new products in order to
fulfil customer needs. In this customer taste and preference changes very frequently. It is because
of arrival of new products in the market. Moreover, a customer is always attracted to new
products. The pricing of product is done on the basis of customer expectation and their
affordability. Apart from this, retail sector profitability depends upon how they attract customers
and what products they offer (Bedford, Malmi, and Sandelin, 2016).
There are various departments in retail business. It consists of finance, marketing, Human
resource, etc. therefore, roles and responsibilities are defined accordingly. They have to perform
it effectively as mistake in one will lead to failure of entire strategy. The retail business highly
focuses on developing new products and improving customer satisfaction. This helps them to
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retain them and attract more customers. Thus, their nature is dependent on how customers are
treated and what services are provided. Strategies and policies in this sector changes from time to
time. Technology plays an important part in growing business (Lawton, 2017). It helps in
providing products to customers 24 /7 anywhere. Domino's has established its own application
and website.
Governance structure, processes and policies
Domino's is MNC that has its operations in all over the world. Therefore, they have to
follow different laws and legislation of different countries. It is because of their external factors.
These factors affects its processes, policies, etc. Also, they have to ensure that products provided
to them are healthy enough. In this government plays a crucial role in developing processes and
policies (Rosemann, and vom Brocke, 2015) They create certain policies that have to be
followed by Domino's. The policies are formulated by them are implemented at various levels.
Managers are responsible for implementing policies and monitoring that activities are performed
according to that. It shows that how tasks are allocated to people and who is responsible to
whom.
The structure of domino's is developed at global level but is braked down according to
country. The structure is as follows. At the top there is Chief Executive Officer, below him there
are various departmental heads. These heads contain managers that controls the overall
functioning of that particular department. Under them there are superiors who guide employees.
The role of CEO is to define mission and vision of domino's to managers (Baker, 2014). They
interact with them to provide information about any changes in policies. Manager role is to
assign task to supervisors and monitor their performance. Besides this, they develop strategies
and plans to achieve goals and objectives. Also, manager monitors employee performance to
identify whether any changes are needed in policies or not. The process system flows form top
to bottom. It means that strategies are developed by manager and then it is implemented by
supervisor.
CEO monitors the report and then takes decision. Then it is implemented in overall
business operations. However, policies exists describes that change have to implemented step by
step (Goffin, and Mitchell, 2016). The new IT equipments must be installed according to needs
of Domino's. Also, systems installed should be having strong security measures so that data can
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not be leaked. Employees must follow these policies and in case any violation strict action
should be taken. (Gamble, and Thompson, 2014).
Apart from this, policies of retail sector varies due to change in political or social factor.
The reason can be change of government or health issues of people. Moreover, business have to
modify its policies. This will lead to change in roles of corporate governance. They will have to
make changes in operations. There are various important business policies have been implement
by the professional in organization which has provides major support in business growth and
expansion.
Corporate officers and their roles
Retail sector business consists of different managers and management officers. These
officers have different roles and responsibilities assigned by top management. They have to
ensure that products produced are to be according to standards set by them. The roles depend
upon their post and responsibilities. Corporate officers are those who makes the entire business
goals and objectives (LÊgreid, 2017). They develop mission and vision of company. CEO,
COO, CFO, etc. are corporate officers in an organisation. They are accountable to public. That'
why they have to work accordingly so that business image is not spoiled. According to norms set
by government these officers perform their duties and tasks. They roles of them are describes as
below :-
Chief Executive Officer (CEO)- His role is to develop domino's mission and vision. Also, he
ensures that activities are performed according to norms. In retail sector product quality is
mainly focused because it creates a chance to attract customers. Also, CEO, monitors
performance of organisation so that reports are shared with public and government.
Chief Operating Officer (COO)- COO performs his duty in the absence of CEO. In that
particular time he acts as CEO of company (Bartlett, and Beamish, 2018). COO assigns tasks
and handles the operation department. He monitors entire operations and creates plans on how it
will be done. Furthermore, operation process is developed by him on what activities will be
processed and in which manner.
Chief Financial Officer (CFO)- He is responsible for maintaining the financial resources of
company. His role is very essential as all the financial related activities are managed by him.
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CFO ensures that financial resources are available in order to maintain flow of operations. Also,
budgets are developed and allocated to each department. Moreover, auditing is done by to create
report on financial position and statement of company (Halligan, 2017). The role of CFO is not
limited to finance but also helps in developing strategies for growth.
There are managers who also have some roles and responsibilities. They are explained
below:-
Finance manager- He comes under the category of CFA who is accountable to him. His role is
to analyse resource requirements and present report to CFO. Its role is to identify what
department needs and which source is beneficial to borrow funds. They also have to ensure
resources are effectively utilised and there is no wastage of resources.
Product manager- His role is to communicate with research and development department so
that new products can be developed. It will help in attracting more customers. Also, role is to
ensure that IT systems are purchased in right quantity. It will be useful in maintaining efficiency
of that (West, and Blackman, 2015).
Quality manager- Domino's brand image depends on its product quality. They have to provide
high quality products to customers. As it produces food products it is very important for
Domino's to provide healthy food. This manager plays a vital role in ensuring the product
quality. The goods produced in this must be according to standards that are set by government. If
not then proper actions are taken.
Whether governance structure and policies reflect regulatory requirements
Domino's is having its flexible IT structures that enables them to proceed customer order
in smooth way. It consists of hardware, software and database that stores and process
information. The entire processing is done via main server that receives order and process it.
Manager are having different roles. They perform is according to standard set. These standards
are default and have to be followed in domino's. They reflect its regulatory requirements (Caton,
and Harvey, 2015). The systems installed must have proper functions so that it can be
implemented in structure. IT systems installed in domino's is according to the laws and
regulation made by government. It ensures that there is no duplicate system used. Moreover,
system are having its own security measures. It contains software that have been verified and
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have proper specifications. Along with this, IT equipments must be installed according to needs
of Domino's. Also, systems installed should be having strong security measures so that data can
not be leaked. It must be having ability to protect customer data. Also, domino's confidential and
sensitive data must be stored in database with high security measures. It is the duty of CEO,
COO, etc. to check this. Besides this, it must reflect regulatory requirements of domino's. IS and
IT systems should be ISO certified (Moutinho, and Vargas-Sanchez, 2018). The systems
implemented in domino's is ISO certified. It has been properly checked and measured by experts.
Other than this, laws, rules, license is been issued by government. That shows domino's
can do business and implement IT equipments. Also, it has been verified by both state and
central government. It should always be in accordance to government. There are various laws in
Australia that is related to retail industry. It is as follows:-
Licence and permits- It is needed to do business in Australia legally. It states that company is
using right materials and substances in producing their products. This ensures that domino's is
registered with them and now they can perform their operations (Fitzroy, Hulbert, and
O'Shannassy, 2016).
Work place health and safety- It means that employees should be provided proper working
atmosphere to work. Also, proper safety measures must be there if any event or situation occurs.
In retail sector employee safety is important because it can adversely affect product quality.
Intellectual property rights - It states that systems, processes, formulas used by any
organisation is legally registered with government and no other company can copy that.
Domino's is having its system IP rights that and is registered with government. Systems installed
in domino's is already has been approved by local authorities (Schaltegger, Burritt, and
Petersen, 2017).
How organisation addresses and mitigates risk
Every business suffers risk during its operations. It is because without taking risk they are
not able to grow and develop. It means that higher the risk higher will be profits. Risk can occur
due to change in external or internal environment. Also, risk affects an organisation to a large
extent. If risk is are not controlled or minimised it can affect overall business operations.
Therefore, organisation needs to develop certain plans and policies in for that. This ensure that
by using policies risk can be minimised. Domino's also suffers from various risk that can occur
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anytime. Manager have to develop plans to mitigate them. Retail sector can have various risk
such as product quality, healthy issues., etc. (Marnham, 2015). thus, in order to minimise those
risk Domino's have formulated policies. This can be explained as first of risk is identified by
managers. Then it is informed to top management. After that risk is analysed to identity its
positive and negative impact on Domino's. Each manager roles and responsibilities are modified
as they have to perform various task to minimise it affects.
The risk in domino's us addressed by manager and employees. They identify what
changes can occur. Employees identity it by interacting with customers while managers develop
strategies and relate to with external and internal factors. Also, domino's takes help of experts to
identify risk. This help manager to create plan or strategies on how it will be controlled. Besides
this, there are various strategies formulated by top management that set standard on how risky
situation s will be deal and by whom (Gamble, and Thompson, 2014). Also, what roles of each
manager will be in that situation. For example- if there is a risk of having loss then manager
develops plans to increase sales. They focus on motivating employees so that sales can be
increased. For this various offers are given to customers such as discounts, coupons, buy one get
one free, etc. this helps in reducing loss. Another example can be taken of failure of strategy. If
any strategy implemented by manager gets failed then firstly it is identified that what factors was
involved while developing strategy. Secondly appropriate measures are taken to control risk.
If risk occurs while implementing change then manager creates policies on how it will be
minimised. For this proper training is provided to employees so that risk can be minimised. For
this manager have to discuss it with top management (Head, and Alford, 2015).
Impact of internal and external factors
Business consist of internal and external factors that affects their operations and
functions. Business is direct related to these factors and works within its boundary. Internal
factors consists of organisation culture, structure, goals and objectives, etc. whereas external
factors include government, customers, stakeholders, etc. any change in these all will impact
business operations. Hence, it is very essential for business to deal with change and implement it.
Also, for this policies and strategies are developed. Suppose there is a change is technology then
domino's have to make change in their process, policies, etc. (Bedford, , Malmi, and Sandelin,
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2016). Moreover, it will allow them to modify roles and task of employees. This will influence
their behaviour.
Internal changes : By implementing new information technology systems and equipments
domino's will be able to improve its performance. Their will be change in business operations
and productivity. Managers and employee will easily communicate with each other. Also, it will
help in developing new products and improving their quality. Furthermore, their will change in
strategy developing. Business will be able to identify risk and take proper actions to minimise
them. Also, goals and objectives will be changed. This will enable Domino's to expands its
operations in Australia. Moreover, it will help in providing more new products to customers.
This will also be useful in reducing operation cost and increasing efficiency (Rosemann, and
vom Brocke, 2015) Moreover, it will help in creating in creative environment and allowing
employee to gain knowledge and skills.
External changes : A change in external factors can impact Domino's to change is policy
relating to social, economic and environmental. It will allow Domino's to contribute towards
society and protect environment. Also, they have to increase their contribution in corporate
social responsibility. This will improve their brand image in the market. Also, by implementing
IT systems, they can protect customer data. Moreover, they will have the opportunity to gain
competitive advantage over its rivals by brining in new technology. It enables them to grab more
market share and increase profits (Goffin, and Mitchell, 2016). Change in this will allow
expand their services. Moreover, with this they can compete in the market. Also, increase in
environment related activities will be there.
Thus, by implementing changes Domino's can attract more customers. They can maintain
their website and app. It will be useful in taking customer feedback. By this they can make
changes products and improve services. However, by maintaining customer data they can
provide offers to them. This will help in making loyal customers. Also, it creates new working
environment by motivating employees (Moutinho, and Vargas-Sanchez, 2018) A better
customer relationship is maintained. This will allow domino's to expand its business both
physically and online. Hence, change in goals and objectives will lead to enhance company
performance.
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CONCLUSION:
This report concludes that how an organisation assigns different role and responsibilities
to departments. Also, what are the various government policies that have to be followed and
implemented. Moreover, how officers are bound to follow that policies. Retail sector business
nature depend upon its products and services. They mostly operate at large level. There are
various departments in retail business. It consists of finance, marketing, Human resource, etc.
therefore, roles and responsibilities are defined accordingly. Retail sector business consists of
different managers and management officers. These officers have different roles and
responsibilities assigned by government. Every business suffers risk during its operations. It is
because without taking risk they are not able to grow and develop. Business consist of internal
and external factors that affects their operations and functions. Business is direct related to these
factors. By implementing IT systems and IS management strategy Domino's can attract more
customers. They can maintain their website and app. It will be useful in taking customer
feedback. With this they will be able to achieve mission and vision.
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REFERENCES:
Books and journals:
Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan.
Bartlett, C.A. and Beamish, P.W., 2018. Transnational management. Cambridge University
Press.
Bedford, D.S., Malmi, T. and Sandelin, M., 2016. Management control effectiveness and
strategy: An empirical analysis of packages and systems. Accounting, Organizations and
Society.51. pp.12-28.
Caton, B. and Harvey, N., 2015. Coastal management in Australia (p. 342). University of
Adelaide Press.
Farnham, D., 2015. Human Resource Management in Context: Insights, Strategy and Solutions.
Kogan Page Publishers.
Fitzroy, P., Hulbert, J.M. and O'Shannassy, T., 2016. Strategic management: The challenge of
creating value. Routledge.
Gamble, J. and Thompson, A.A., 2014. Essentials of strategic management. Irwin Mcgraw-Hill.
Goffin, K. and Mitchell, R., 2016. Innovation Management: Effective Strategy and
Implementation. Palgrave Macmillan.
Grant, R.M., 2016. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
Halligan, J., 2017. Reform design and performance in Australia and New Zealand.
In Transcending New Public Management (pp. 55-76). Routledge.
Head, B.W. and Alford, J., 2015. Wicked problems: Implications for public policy and
management. Administration & Society.47(6). pp.711-739.
Lawton, T.C., 2017. Cleared for take-off: structure and strategy in the low fare airline business.
Routledge.
LÊgreid, P., 2017. Transcending new public management: the transformation of public sector
reforms. Routledge.
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Moutinho, L. and Vargas-Sanchez, A. eds., 2018. Strategic Management in Tourism, CABI
Tourism Texts. Cabi.
Rosemann, M. and vom Brocke, J., 2015. The six core elements of business process
management. In Handbook on business process management 1 (pp. 105-122). Springer
Berlin Heidelberg.
Schaltegger, S., Burritt, R. and Petersen, H., 2017. An introduction to corporate environmental
management: Striving for sustainability. Routledge.
West, D. and Blackman, D., 2015. Performance management in the public sector. Australian
Journal of Public Administration. 74(1) pp.73-81.
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