Woolworths: Exploring Business Innovations, Challenges, and Advantages

This report provides an analysis of business innovations at Woolworths, a prominent Australian retail company. It examines Woolworths' new strategic focus on offering, growth, and efficiency, particularly through its Own brands. The report discusses the challenges faced, such as regaining momentum in the Australian food market and accelerating the BIG W reset. It also highlights the advantages, including leveraging unique data assets for competitive advantage. The report explores specific innovations, such as the Woolworths FoodCo division, and references academic articles to support its findings. Furthermore, the report examines the competitive advantages gained from implementing these new strategies and provides a comprehensive overview of Woolworths' business development initiatives.

Business innovations
in Woolworths

Woolworths
Woolworths is one of the
major Australian company
which provides extensive
retail interest throughout
Australia and New Zealand.
It is considered as the
second largest company in
Australia based on the
revenue and also
considered as second
largest in New
Zealand(Carey, Parker &
Scrinis, 2017).

Current event - New
strategy of Woolworths
The Woolworths new strategy will
focus on three key principles:
 Offer
 Growth
 Efficiency

Explanation: New pricing
and ranging strategy
Woolworths declared that the Own brands
would play the key role in competing with
the various limited range, which
discounters. Woolworths said that the this
would create the product with the higher
quality and along with better priced
product
(http://www.ausfoodnews.com.au/201
5/05/06/Woolworthsss-announces-
new-strategies-to-win-over-grocery-
shoppers-afn-reveals-full-
detail.html). The major motto of this
brand is to close the gaps range where
none other alternative brand exist.
("Woolworths announces new strategies
to win over grocery shoppers, AFN reveals
full detail | Australian Food News", 2019).

Woolworths producing
new products
The Woolworths Food group are needed
to establish the new division called the
Woolworths FoodCo. It would also have
the responsibility for developing up the
new product category for improving the
fresh meat supply and also contains the
processing facilities and the strategic
development would source relationships
with Woolworths primary industry
partners (Trevena et al., 2015).

Discussion
• What are the
challenges identified in
implementing the new
strategy
• What are the
advantages faced by
Woolworths in
implementing the new
strategy?

What are the challenges identified
 In regaining the momentum for the Australian Food.
 Rapid operations for delivering the Liquor growth (Grimmer,
2018)
 Making the proper progress on Masters path towards the
profitability

Challenges identified in this new
strategy
 To accelerate the BIG W reset
 To accelerate the lean retail model for completing up the new
environment ("Woolworths announces new strategies to win over
grocery shoppers, AFN reveals full detail | Australian Food News", 2019).
 To maintain the disciplined portfolio management and the capital
allocations

What are the advantages of
implementing the new strategy
 Mr. O’Brien has said that Woolworths’s business
structure could be of real strategic advantage
for underpinning the ability of delivering all the
priorities for outlining the announcements.
(Parker, Scrinis & Carey, 2018).
 Mr. O’Brien has declared that the business have
the series of the key enablers for stretching
across the five business divisions that will drive
the efficiency and the productivity for saving the
use of fuel for the future growth.

Competitive advantage of
Implementing new strategy
Mr. O’Brien declares that
Woolworths is one of the
company with the
leveraging unique data
assets for driving the new
insights and the
competitive advantage
are not available to other
retailers.

References
 Carey, R., Parker, C., & Scrinis, G. (2017). Capturing the meaning of “free range”: The contest
between producers, supermarkets and consumers for the higher welfare egg label in
Australia. Journal of Rural Studies, 54, 266-275.
 Ayvaz, Z., Balaban, M. O., & Kong, K. J. W. (2017). Effects of Different Brining Methods on Some
Physical Properties of Liquid Smoked King Salmon. Journal of food processing and
preservation, 41(1), e12791.
 Trevena, H., Neal, B., Dunford, E., Haskelberg, H., & Wu, J. H. (2015). A comparison of the sodium
content of supermarket private-label and branded foods in Australia. Nutrients, 7(8), 7027-7041.
 Grimmer, L. (2018). Tasmanian School of Business and Economics, University of Tasmania, Hobart,
Australia. Case Studies in Food Retailing and Distribution, 13.
 Parker, C., Scrinis, G., & Carey, R. (2018). Higher welfare labelling for eggs: A summary of findings
from the project Regulating Food Labels: The case of free range food products in Australia.
 Rankin, J. G. (2017). Australia, a consumptive society. Drug and alcohol review, 36(2), 270-277.
 Woolworthsss announces new strategies to win over grocery shoppers, AFN reveals full detail |
Australian Food News. (2019). Retrieved from
http://www.ausfoodnews.com.au/2015/05/06/Woolworthsss-announces-new-strategies-to-win-over-
grocery-shoppers-afn-reveals-full-detail.html