BSBMGT517: Wesfarmers' Operational Plan, Objectives, and Strategies

This report provides a detailed analysis of Wesfarmers' operational plan, focusing on its objectives, key performance indicators, target market, sales forecast, financing strategies, and marketing approaches. Wesfarmers, formerly known as Western Australian Farmer’s Cooperative, operates in the retail sector across New Zealand and Australia. The company aims to deliver satisfactory returns to shareholders through financial discipline and exceptional management. Key performance indicators are categorized into Value Created, Growth Enablers, and Core Values. The target market has expanded from farmers to include grocery, fashion, and the mining industry. The company plans to increase sales by 30% and will finance this through stocks, shares, and bonds. A contingency plan is in place to mitigate risks. The marketing strategy includes digital promotion and sustainable marketing. Desklib offers a variety of resources, including solved assignments and past papers, for students.

Running head: MANAGE OPERATIONAL PLAN
MANAGE OPERATIONAL PLAN
Name of the Student
Name of the University
Author Note

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Operational Plan Template
WesFarmers that was formerly known as “Western Australian Farmer’s Cooperative”,
is an Australian firm dedicated to business in retail sector within the geographical domain of
New Zealand and Australia and have its headquarter at Perth, Australia. The company
produces chemicals, industrial products, coal mining, safety & industrial products and
fertilisers. The company have upgraded itself to enter different market and its most profitable
area is the retail industry and has been considered as part of the Operation Management Plan.
As part of the retail industry the Supermarkets and Grocery Stores offers majority of the
firm’s income.
Objectives
The primary objective of the firm is “to deliver satisfactory returns to shareholders
through financial discipline and exceptional management of a diversified portfolio of
businesses”. Other sub-objectives of the firm include strong management capability for each
division of the firm that are accountable towards the SDE (Strategic development and
Execution). Another objective of the firm is to have a “day-to-day operational performance”.
Key performance indicators
The key performance indicator of the firm are broadly categories in three categories that
includes Value Created, Growth Enablers and Core Values. The three groups consist of
different factors that and they have been listed below.
i. Value Creation
a. Strengthening business through excellence of operation and customer
satisfaction.
b. Adoption of new and intuitive ideas for value creation.

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c. Portfolio management
d. Sustainability Management
ii. Expanding growth
a. Commercial success
b. Culture empowerment
c. Innovation
d. Robust Financial Capacity
e. Social Responsibility
iii. Maintaining Core Values
a. Integrity
b. Openness
c. Accountability
d. Entrepreneurial Spirit
Target Market
WesFarmer’s initially had Farmer’s as their prime target and the products and services
such as fertilizers, industrial products, safety and instrumentation and others offered by the
firm was initially dedicated to that market. However, with time the firm has upgraded itself to
include grocery, fashion and other consumer market as its target market. Hence, to
summarize, it would be adequate to state that the target market of the firm is extensive which
includes the Farmer’s market, general market for grocery and fashion. The discussed market
area extends to the geographical domain of New Zealand and Australia. The corporate world
that are dependent on the natural resources obtained from mining are also a target market for
the organisation. The summary has been presented below:
i. The individuals/ entities engaged in farming.
ii. The individuals/ entities that are dedicated towards fashion.

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iii. The individuals/ entities to grocery purchase such as household individuals, restaurant
and food industry and others.
iv. The individual/ entities dependent on mined raw materials.
v. The individuals/ entities that are in the geographical domain of New Zealand and
Australia.
Sales forecast
The company is planning to increase its sales by 30% percent so that it can cope up
with the lose made in the financial year 2016-2017. The low revenue was due to the weak
performance by the retail sector of the firm and will try to manage it. The company will
attempt to cope up with the market competition.
Financing
The firm will try to collect finance from the market through distribution of stocks,
shares and bonds. The general consumers will be the primary target for the market and will
act as the financer for the firm. Equity placement will be done to attract investment in variety
of areas and will even fund cash flow requirement for the coming financial year 2019-2020.
The proceeds that will be gained from equity financing will be used for the following
activities.
i. Marketing and Strategic Alliances
ii. G & A
iii. Tech/ Equipment/ Start-up
iv. Payroll
v. Contingency
vi. Others

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The company is also planning to gain finance for the firm through the following
mentioned processes.
i. Sponsorships
ii. Advertising
iii. Value Added Services
iv. Affiliate Commissions
v. Content / Programming Syndication
Time frame and action plans
Action Timeframe Target Responsibility Guideline
Increase the
retail sales by
30% through
customer
satisfaction,
operational
excellence and
proper
marketing &
promotion
Financial year
2019-2020.
The digital
media that
expands to the
households
including the
social media
platforms to
reach the
customers of
Australian and
New Zealand
retain sector.
Promotional
emails, texts
and others.
The sales and
marketing team
for the online
and off-store
promotion. The
managers for
the in-store
promotion.
Maintain the
core values of
the
organisation.

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Marketing and promoting plan
The marketing and promotional strategy of the firm includes active promotion
through digital means. The digital means here includes the social media promotion, TV and
radio advertisements along with use of VoIP (Voice over IP) as a source for promotion.
Emails, SMSs, promotional calls will be used for promoting the firm and its product and
services. The marketing will be through sustainable marketing approach and as part of the
approach different sustainability aspects will be promoted. The sustainable development of
the goods and services of the firm will also act as the USP (Unique Selling Proposition) for
the firm.
Contingency plan
10% of the financing received will be preserved for mitigating the risk, if any occurs
in the event of carrying out the action plan. The risks may involve failing of the equipment,
resource management issues and multiple others. In case of such events the amount kept as
part of the contingency will be used for mitigating the threat and will be leveraged to kept the
action plan active and feasible.

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