Sustainability Strategies Used in Woolworths Essay
Sustainability Strategies Used in Woolworths
To analysis the environmental sustainability we must first understand the concept of Sustainability to help us preform a successful environmental analyses and define the key problem of Woolworths sustainability and recommend correct and fast result solutions so the Sustainability is a strategic plan that help’s companies to develop their economic growth over the long term through their interest in environmental and social problems and connect them to the business model of their company.
The difference between corporate social responsibility and sustainability as sustainability involves forward path of the business profitability and changing the cultural of the company while social responsibility deals with issues retroactively and looks at the past actions that has been taking. Environmental sustainability Is a percentage of using the renewable resources for the company where it achieves its sustainable economic growth, now a days their is no company that can grow economically indefinitely without causing any environmental harm, but they can reduce the harm through using of alternative and new methods to preserve the resources of renewable and economic growth such as Woolworth.
From Woolworths point of view the sustainability means doing the right thing and implementing it can have huge impact on their organizations, but at the same time they believe that sustainable behavior help them making good sense of business so they consider sustainability as serious matter and they try their best to have right tools and methods to achieve there sustainability strategy by including sustainability process in all there stores across Australia and New Zealand.
Changing the behavior and mentality of 180,000 employees is anomies challenge to Woolworths, but they insensate that they can overcome the challenges by using transparency and openness in any obstacles they face by identifying the right action that will be taken to help them in measuring the performance quality and speed to meet the target goal, in addition they are willing to significantly spend money and provide the necessary resources to bring the strategy to life and maintain the long-term cost of the business.
The competitive rivalry is at the highest level between the companies in the supermarket industry, where is based on the price of the product, location of the store and type of the serves they are offering, but Woolworth strategy of using the sustainability increased they rivalry among the competitor where most of the customers are concern with the environmental behavior of the company.
Threat of Substitution: The industrial substitute that supermarket can face is the availability of similar alternative places where the customer can buy what they need in same quality, lower price, the location of the alternative super market and the parking place finally the verity of the product. In Woolworth’s case the substitute of the supermarket is moderate to high.
Threat of New Entry:
The supermarket industry is not an low price industry and any one can invest in, the reason why it’s hared to start a supermarket is the obstacles that cold appear which is high market price of the lands, hug capital and government restrictions and regulations can stop the business to enter the market however the quality and the price od the product also should be customize in a way the fits the customer need and bought
PESTLE Analysis The success of Woolworth as best company in Australia and the significantly positive macro-economic environment can estimate New Zealand, which is deals with political, economic, social and technological factors of the organization.
The Political and economic relations bonds and stability between Australia and New Zealand has helped Woolworths to ensure its constancy in both countries, where it is considered it self working within a single economy, which leads to the emergence of the difference between the shareholders in Australia or abroad, this stability also dragged the company to high profitability level.
On the economic front the level of economic and living standard in Australia is very high, Australia’s GDP is about 699 per capital were it’s grades the tenth place in the economic growth at the world level, according to the Statistics made by International Monetary Fund in 2010, but in the recent years the Australian economy growth has been very slow which post a threat for Woolworth’s industry so they decided to expand their operation to India to sustain its growth in retail industry.
The reason why Woolworths started to apply a strategy of environmental sustainability is the environmental concern among the community and high level of people awareness where they have started to look at the environment preserving behavioral of the company, and that may impact the company investment, further more they also addresses the customers satisfaction bye providing them with convenient and efficient services.
Woolworth has attached the innovations in their all processes that involve the communication with the costumer to improve the efficiency of their serves. In 2008 it introduced the self-checkout machines that allow the customer to scan, weigh and pay for their groceries via cash, credit or debit cards. They also employed the SOA (Service Oriented Architecture) software that monitors its business activity, identify the weakness of their service in real time and reduce costs.
University/College: University of Chicago
Type of paper: Thesis/Dissertation Chapter
Date: 1 October 2016
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