Project Proposal for Woolworths Australia

Project Proposal for Woolworths Australia

Proposal Brief

This paper aims to develop a project proposal for Woolworths Australia, the leading supermarkets chain in Australia, with over 80% dominance in the fresh produce market. The company can be categorized broadly as an exclusive retailing venture in Australia, but its approach to foreign markets, mainly in Europe and Asia, is through joint ventures (Raghuram, 2008). This study will be focused on demonstrating the eminent but contemporary challenges and opportunities faced by the company in the modern era of globalization and as an international business case example. Consequently, this paper will provide the anticipated challenges to completing the major project and offer potential solutions to the same problems in the context of a contemporary international business model.  Further, the paper provides a brief overview of significant areas of focus in the major project by listing profound theoretical approaches to be employed in the major project. Included in the paper is a bibliography list to serve as a guide for further knowledge reference in the initial report.

Product/Service Factors

Woolworths is a major investment company in Australia, which engages in the provision of retail and financial services (Hotel, 2016). It operates through the following segments; Woolworths fashion, beauty, and home; Woolworths food; Woolworth’s financial services; Woolworth’s logistics; David jones; country group; and treasury. The fashion and beauty segment offers clothing, cosmetics, housewares, and lifestyle products. The food segment includes baked goods, groceries, and beverages. The logistics segment delivers logistic services. The David jones segment manages department stores and online retail shops. The country road segment operates the retail chain of stores and concession retail outlets. The financial services segment provides a credit card portfolio for customers who purchase Woolworths stores. The treasury segment comprised of cash and debt management activities.

Project Description

One of the potential obstacles likely to be encountered in international business analysis is the lack of relevant and real-time data on financial performance. Secondly, information from online sources sometimes is contradictory and often misguiding, which can lead to misinformed conclusions and inadequate discussions. Thirdly, as an international business case biased may be influenced by the persistent need for justifying venture into foreign markets, exposing the business to potential risks (De Mooij & Hofstede, 2002). On the other hand, with such prior considerations, it is easy to address such difficulties by seeking information from authentic and credible sources. For example, the international stock markets will provide relevant and up to date credit information on financial performance in the global market and in its parent market (Merrilees, & Miller, 2001). Equally, the project will avoid reference to blogs and news articles because of the increased cases of fake news and media propaganda rampant in the contemporary era of globalization (Smigielska & Oczkowska, 2017). Finally, the project will avoid setting predetermined outcomes for the sake of connecting theory with the case company, but rather the nature of the business and its business practices will shape our conclusions and discussions.

Anticipated Difficulties

• Lack of participation from group members.
• Poor time management.

Solutions

• Assigning roles and tasks to every group member to save time.
• Division of labor and responsibilities to ensure full participation of every member.

Theoretical Approaches

In the significant report, it is essential to take into account diverse theoretical approaches, including a PESTLE analysis, a SWOT analysis, and the Kirkpatrick four-level evaluation models, among others (Gurel & Tat, 2017). Firstly, the PESTLE analysis will offer in-depth knowledge and information on the company’s external factors influencing the company’s competitiveness in the global market, including political, economic, social, technological, legal and environmental factors (Perera, 2017). Additionally, a SWOT analysis will provide critical insights on fundamental internal and external factors influencing performance and competitiveness in the global market, including the businesses’ strengths, weaknesses, opportunities, and threats (Hamilton et al., 2011). Importantly, the Kirkpatrick four-level evaluation will be resourceful in evaluating the organizational culture at the company, the need for training and development, and the effectiveness of the existing corporate governance in realizing success and competitiveness in the market (Kirkpatrick, 2011). Therefore, this proposal is a brief overview of what the initial report on Woolworths Australia will take into account, potential challenges, and ways to address the same as well as the major theoretical approaches to be employed.

References

Berger-Thomson, L., & Chapman, B. (2017). Foreign currency exposure and hedging in Australia. RBA Bulletin, December, 67-75.

De Mooij, M., & Hofstede, G. (2002). Convergence and divergence in consumer behavior: implications for international retailing. Journal of retailing, 78(1), 61-69.

Gürel, E., & Tat, M. (2017). SWOT analysis: a theoretical review. Journal of International Social Research, 10(51).

Hamilton, G. G., Senauer, B., & Petrovic, M. (Eds.). (2011). The market makers: How retailers are reshaping the global economy. Oxford University Press.

HOTEL, L. L. (2016). WOOLWORTHS FACADE. Douglas Snelling: Pan-Pacific Modern Design and Architecture, 216.

Kirkpatrick, D., & Kirpatrick, J. D. (2011). The Kirkpatrick four levels. Kirkpatrick Partners.

Merrilees, B., & Miller, D. (2001). Innovation and strategy in the Australian supermarket industry. Journal of Food Products Marketing, 7(4), 3-18

Perera, R. (2017). The PESTLE analysis. Nerdynaut

Pritchard, W. N. (2000). Beyond the modern supermarket: geographical approaches to the study of contemporary Australian retail restructuring. Australian Geographical Studies, 38(2), 204-218.

. Raghuram, G., & Kuberkar, G. (2008). Woolworths Limited, Australia. Routledge.

Śmigielska, G., & Oczkowska, R. (2017). Retailers’ competitiveness in global markets. International Entrepreneurship Review, 3(1), 175-196.

Sternquist, B. (2010). International retailing. Wiley International Encyclopedia of Marketing.

Tan, K., & Newman, E. (2013). The evaluation of salesforce training in retail organizations: a test of Kirkpatrick’s four-level model. International Journal of Management, 30(2), 692.

.