BSBHRM513 - Skills, Industrial Relations, Forecasting - Woolworths

This assignment provides an analysis of Woolworths Limited, focusing on its skill requirements, industrial relations, and forecasting techniques. It highlights the importance of teamwork and decision-making skills within the organization. The assignment also outlines relevant industrial relations, including the Fair Work Commission and equal pay, emphasizing their role in maintaining a smooth working environment. Furthermore, it discusses forecasting techniques such as trend analysis, which Woolworths Limited can use to make future predictions based on past data. The document concludes by emphasizing the importance of these elements in the effective operation and management of Woolworths Limited, showcasing the company's approach to human resources and business planning.

Skills and Knowledge
Activity

Choose an organisation.
• Woolworths Limited is an Australian company.
It is also considered to be largest takeaway
liquor in Australia.
• It also deals with the supermarket with the
help of its subsidiary.
• The number of the employees working in the
company is approx. 202,000.

Outline the skill requirements of
the organisation.
Teamwork: The allocation of the tasks as per the team helps in the
accomplishment of the business plan as designed by the company.
This also helps in the development of the coordination among the
employees that helps in the easy completion of the targets.
Decision-making skills: This is one of the effective skills which
must be present in the working of an organisation. Hence the
Woolworths Limited should be competent in this skill as this
affects the interests of the employees while working.

Outline the relevant industrial
relations.
The industrial relations which are required to be implemented in the
organisation are:
• The Fair Work Commission: It is a tribunal which helps in the resolution
of the disputes that are involved among the employees, employers and the
unions. Effective compliance of this helps in saving the company from the
legal issues and the proceedings.
• Equal pay: This is also a system which is required to be implemented by
the organisation for the effective working of the workplace. This also helps
in the development of a smooth environment in the Woolworths Limited.

Demonstrate forecasting techniques for
your chosen organisation.
The techniques such as ratio analysis are used in by the Woolworths Limited
presently but apart from it the forecasting techniques which are required to be
followed in the working of Woolworths Limited are provided thereunder:
Trend analysis: It is a tactic which is used in by the business to make the
predictions related to the future with the help of past data. Hence this form of
forecasting techniques used in by the Woolworths Limited helps in its working
to effectively handle all of its data.