logo

Strategic Management - BUSM3200 - The Implementation and Development of a Certain Plan

   

Added on  2020-03-13

15 Pages4279 Words47 Views
1Running head: Strategic managementStrategic management- Wesfarmers

Strategic managementTable of ContentsIntroduction......................................................................................................................................3Conclusion.....................................................................................................................................12Reference list.................................................................................................................................132 | P a g e

Strategic managementIntroductionStrategic management refers critically to the implementation and development of a certain planfor improvising business operations. A business organization must have its own vision andmission which will help to analyze a perfect plan and strategy for the business. In order to forman absolute strategic management, a company needs to align its objectives with its mission andvision. In this assignment, the learner has critically identified the strategic management processfor the company Wesfarmers with complete detailed information about its business. Based on theidentification and theories that are applied towards the success of the company, fewrecommendations have also been provided for enhancing the strategic management plan of thecompany Wesfarmers. The learner has also provided theories that have raised the standard of thecompany for developing its strategic management plan. The strategic analyzing tools SWOTanalysis, PESTLE analysis, and SMART analysis have provided the relevant information aboutthe management structure and the strategies that are being used by the company Wesfarmers. Bythe end of the assignment, the learner will be able to assess the complete scenario both internaland external environment of the company Wesfarmers. 3 | P a g e

Strategic managementWesfarmers Limited is an Australian based company. The company is headquartered in Perth,Western Australia. Its retail business is typically based in the area of New Zealand and Australiaserving safety products, fertilizers, coal mining and chemicals. In the fiscal year 2016, thecompany earned revenue of around AU$65.98 billion while overtaking BHP Billiton andWoolworths. The company has around 205,000 employees and is the largest private employer inthe country Australia. The strategic management plan followed by the company and RichardGoyder, CEO of the company has assisted it to gain a competitive advantage as well as hugeprofitability (David, 2011). The employees of the company critically follow the mission andvision of the company while fulfilling its objective. For analyzing the strategic management ofWesfarmers, three analyzing tools have been used. The analyzing tools are SWOT analysiswhich critically reflects the internal condition, PESTLE analysis that reflects the externalcondition and SMART analysis.Wesfarmers SWOT analysis-StrengthWesfarmers is an expanded enterprise. It's assorted organizations, primarily contain Resources,Coles, Target, vitality, and different exercises. Wesfarmers' management system is focusedtowards contributing towards newer field. The reason is depending entirely on its profitabilityduring business downturn. It is listed among the enhanced organization in the country Australia.Wesfarmers is an aggressive organization (Freeman, 2010). The core reason behind it is to offermore advantages to its investors. Wesfarmers considers the advancement of the company in lightof the help of investors will help the company to attract around 500,000 investors for buying itsshares. Moreover, Wesfarmers focuses on the welfares of its management as well.WeaknessesWesfarmers Limited's item and administration cover assets, vitality and numerous differentcircles, so Wesfarmers has considerably fewer amount of rivalry than different organizations thatwork in a single zone. Wesfarmers has a solid nearness in the country Australia and most of itbusiness operates in the local market of Australia. Therefore, as a huge scale industry, it facessolid business hazard (Goetsch & Davis, 2014). 4 | P a g e

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Report On Competitive Strategy 2022
|8
|1672
|29

Business Environment
|12
|2137
|454

Strategic Management | Case Study Report-1
|14
|3016
|19

Programme Structure Assignment PDF
|67
|1094
|108

(Doc) Strategic Management - Assignment
|15
|3057
|31

Business Strategy: Internal and External Analysis, Competitive Environment Analysis, and Strategic Options for Sainsbury
|10
|4263
|390