Enterprise Planning and Implementation
Name of the Student:
Name of the University:
Author’s Note
Component and purpose of the strategic plan:
In this present competitive business environment, development of effective plan has become essential for all the organizations in order to achieve competitive advantage in the market. Development of effective plan allows organizations to move towards a specific direction for fulfilling all the objectives in an appropriate manner. As one of the prime retail organizations in the entire world, Woolworths strategic plan aims to increase its reach in the global market (Biddle 2016). The strategic plan of Woolworths also focuses on becoming the major brand in the retail segment of the global market. Technological enhancement has induced organizations to implement different changes in the operational procedure so that it can able to fulfill the needs and wants of the customers. For that reason, technological changes will have to be considered as the prime component that can have major impact on the overall business perspective.
Need for changes:
According to Lindberg, Voss and Blackmon (2013) organizations will have to initiate changes in the operational procedure in order to maintain its position in the global market. For instance, Woolworths has to face immense competition from many other prime retailers in order to achieve desired sales volume. Therefore, the organization always has to be very careful regarding the strategies initiated by the competitors for grabbing the attention of the customers. As a result, Woolworths will also have to make certain adjustments on the operational process. On the other hand, it will also have to initiate different innovative strategies for capturing major share of the market. Changing needs and wants of the customers is another prime aspect of initiating changes in the operational procedure. Differences in government rules and regulations in different countries is another prime factor that induces organizations to initiate different changes in the operational procedure.
Internal change drivers:
As mentioned by Lefebvre (2013) several internal drivers can influence organizations to initiate change in the operational procedure. Firstly, Woolworths need to focus on assessing employee attitude towards organizational roles and responsibilities. For that reason, HR management of Woolworths will have to initiate different strategies to keep all the employees in positive frame of mind. Secondly, return of stakeholders can also influence Woolworths to initiate different changes for keeping all the stakeholders happy. Thirdly, difficulties or complexity in the organizational structure can also influence Woolworths to initiate different changes in the operational procedure (Keith 2012). Fourthly, introduction of new advance technology in the operational process can also instigate Woolworths to initiate different changes in the business process. It has been assessed that introduction of new technology requires specific skills from the employees, which cannot be developed without proper training and development facilities.
External change drivers:
As per the article by Faith et al. (2012), external factors can also influence organizations to initiate different changes in the operational procedure. For instance, changing needs and wants of the people living in different economy often influence Woolworths to make some adjustment on the business process. On the other hand, changing foreign exchange rate can also have major impact on the profit level of the organization. Therefore, it often influences organization to initiate different strategies for keeping the revenue at the desired level. As opined by Hargreaves et al. (2014) changing rules and restrictions on international trade also induce Woolworths to implement specific changes in the current procedure for achieving sustainable growth in the market.
Current state of the organization:
Woolworths is regarded among the most popular retail organizations in the entire world. The innovative business strategy and high quality products have helped the organization to achieve sustainable growth in the market. In 2016, the revenue of Woolworths is recorded around $60 billion Australian dollar (woolworths.com 2017). It indicates the fact that Woolworths has able to develop strong brand presence in the desired market. Presently, it is focusing more on international business expansion for achieving sustainable growth in the market. In addition, Woolworths has also focused on utilizing advance technologies for performing all the activities in an effective manner, which has helped competitive advantage in the market. Therefore, it can be expected that Woolworths will maintain continues growth in the foreign market as well.
Critical success factors:
There are several factors including effective operational and marketing strategies that has helped Woolworths to achieve continues growth in the global market. For instance, Woolworths has always focused on using innovative and aggressive marketing approach for creating desired impact on the market (Dos Santos, Svensson and Padin 2013). In present time, Woolworths has developed strong presence in both online and offline platform that helped to increase the sales volume in an appropriate way. Moreover, Woolworths has always focused on developing innovative strategies for retaining customers for long period of time. It has helped the organization to achieve success in the global market. In addition, Woolworths also has focused on performing all the CSR activities in order to characterize itself as a responsible corporate citizen.
References:
Biddle, I., 2016. The Wesfarmers/Woolworths duopoly war: The Bunnings vs. Masters battle. Busidate, 24(3), p.3.
Dos Santos, M.A., Svensson, G. and Padin, C., 2013. Indicators of sustainable business practices: Woolworths in South Africa. Supply Chain Management: An International Journal, 18(1), pp.104-108.
Faith, M.S., Van Horn, L., Appel, L.J., Burke, L.E., Carson, J.A.S., Franch, H.A., Jakicic, J.M., Kral, T.V., Odoms-Young, A., Wansink, B. and Wylie-Rosett, J., 2012. Evaluating parents and adult caregivers as “agents of change” for treating obese children: evidence for parent behavior change strategies and research gaps. Circulation, 125(9), pp.1186-1207.
Hargreaves, A., Lieberman, A., Fullan, M. and Hopkins, D.W. eds., 2014. International handbook of educational change: Part two (Vol. 5). Springer.
Keith, S., 2012. Coles, Woolworths and the local. Locale: The Australasian-Pacific Journal of Regional Food Studies, 2, pp.47-81.
Lefebvre, R.C., 2013. Social marketing and social change: Strategies and tools for improving health, well-being, and the environment. John Wiley & Sons.
Lindberg, P., Voss, C.A. and Blackmon, K.L. eds., 2013. International manufacturing strategies: context, content and change. Springer Science & Business Media.
woolworths.com, 2017. Very | Womens, Mens and Kids Fashion, Furniture, Electricals & More!. [online] Woolworths.com. Available at: [Accessed 26 Mar. 2017].