Woolworths Innovation and Sustainable Business Development

Question

Assessment Tasks: This section describes the assessment tasks. There are two components, a group business case report and a group presentation. To successfully complete these two assessment components, you are required to join a group. As part of a group you will develop a business case document.

Business case report: To successfully complete the business case report, you and your group are required to undertake the following activities:

Activity 1: In the first few weeks of term, you are required to self-select into and form groups of 3 to 4 students, maximum of 5 students. On-campus students confirm groups with the assigned lecturer. Distance students confirm groups via email with the unit coordinator. This activity is to be completed by week 5. You will have the opportunity to work on the business case with your group in class from week 6.

Activity 2: To successfully complete the assessment, your group is required to identify a business and the business stakeholder you will be writing the business case for. You might be pitching to an investor or the management of a business. Identify the business and the stakeholder. It can be:

1. A business that one of the group members is or has been employed at and therefore knows well. It is a very good option if other members of the group are familiar with a similar business too. It is important that no confidential business information is included in the business case report.
2. A business that in the public eye, meaning there is a lot of publicly available information about this business.
3. If you suggest an organisation other than the ones above, you will need approval from the assigned lecturer.

On-campus groups confirm the selected business with the assigned lecturer. Distance groups confirm the selected business via email with the unit coordinator. This activity is to be completed by week 7.

Activity 3: Identify an innovation that your group believes could be reasonably discussed as the subject of the business case. The innovation you choose should have the potential to be developed sustainably over a commercially viable period of time. The suggested innovation must not be implemented by the firm yet. It can be an innovation your team come up with yourselves or something you learned about through any media.

Activity 4: Consider and evaluate the possible business models that could be used to realise the opportunities inherent in the innovation.

Activity 5: Develop the business case report with appropriate sections. Your report must include:

• Logical and persuasive articulation of: the problem to be solved; problem insight; portfolio of generated solution ideas; solution selection analysis; targeted customers; value proposition benefits; business model description; value proposition development and delivery; financial value capture and strategic fit.
• Logical and persuasive argumentation in regards to how uncertainty related to customer desirability; technical feasibility; and financial viability is addressed.
• A convincing executive summary; clear and succinct purpose described in the introduction; and a clear and succinct conclusion.

Answer

Executive summary: The report is found to be providing knowledge about the innovation and the sustainable business development for the company Woolworths, Australia. Thus, the study is able to clearly determine that the investments carried out by the company should be done carefully determine all the factors present within the business environment and mitigating the issues at the same time.

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Introduction : The study of this current report will be based on understanding the important concepts related with the innovation and the potential aspects, which are required to be examined for the sustainable development of the business environment of the organization chosen for this study. The organization selected is Woolworth, Australia. Thereby, the study will be emphasizing upon the background as well as the problems faced by the company. Followed by, the benefits, The strategic purpose, analysis of the project and the deliverability of the solutions that are being recommended after the completion of the study will be discussed in detailed manner.

Part 1: Problem
Background: Overview of the study clearly presented that the company being a well known and successfully been widening its growth and development within the regions of Australia, is facing several issues during its working. Therefore, for maximizing the efforts of the impact of the business the organization is required to improve their relationship with the stakeholders for effective decision making to be carried out (Charles, Schmidheiny & Watts, 2017). The rapid involvement of the technologies were found to be impacting the overall processes as although it tend to be advantageous increased the risks due to the emerging megatrends and often disrupted the service funding, and the process included with the distribution process.

Definition of the problem: The nature of the problem which is been identified is the problems during the inactive engagement of the stakeholders during the decision making process. In context with the decision making it further, tend to create difficulties during the supply chain management and the distribution of the goods to the respective franchises and their potential customers. Hence, with the globalization the strategies are rapidly been evolving within the business it is required that the company effectively mitigate the identified issue for continuing the smooth flow of works to be carried out within the organizations (Morioka, Evans & de Carvalho, 2016). Thus, the problem or the issue identified is of vital importance as will not only affect the overall management of the company but the customer base of the company at the same time.

Evidence of the problem/issue: The evidence gathered during the study tend to provide details about the acceptance of the company the Intergovernmental Panel decision about the Climatic Changes for maintaining the sustainability of the organizations and supporting the supply chain management procedures. The encouragement of the active participation of the stakeholders within the various programs carried out has been initiated by the company is observed (Bitzer & Hamann, 2015).

Considerations of the time and broader contexts: The considerations in context with the time are required to be organized effectively in order to revise the existing strategies used for the growth and development of the organization globally across the regions. Further, for maintaining the sustainability of the organization it is required that the company should be able to effectively monitor the current assets of the company as well as take actions for mitigating the risks associated with the failures of systems, operations and the service related requirements.

Part 2: Benefits
The innovation and sustainable business development of Woolworths have brought many benefits in their business.

The innovation and sustainable business development of Woolworths have brought many benefits in their business.

Woolworths provides online and in store experiences for the customers. So the digital connectivity with the consumers increases and the number of the physical stores reduces. It helps to deny the real estate hazards of a business organization (Uhl & Gollenia, 2016).

Improving quality and innovating new fashions both affects a business positively. Woolworths offers different brand clothing to the customers that have both quality and fashion, this helps the company to sustain in the market. Appropriate products, appropriate timing and proper placing help the company to grow.

Food is another important part of the company. Safe, fresh and innovative foods add great values to the company. The foods that have more demands in the market are always available in the Woolworth stores. The availability of products attract people to the store, thus the store sustains in the market.

Though innovation is a very essential part of a business yet the cost setting plays the main role behind the success of every innovation. The process and the operating model of the company need to refine from time to time according to the market (Flax, Bick & Abratt, 2016). Taking care of the existing price of the products and development in productivity both are the crucial lookouts of the company to increase and retain the customers for future.

The most innovative idea for further development of the company is being eco friendly. Supplying fresh and organic products to the people is an attempt to keep the customers healthy. It is a step taken for the development of the society. The company tries to reduce the rate of waste and consumption of water for their business development.

Part 3: Strategic response
The strategic responses relates to the capability of the business organization for surviving in the changing environment. The strategies are thereby, not static in nature and hence, keeps changing with the environment and the processes that are been carried out. It should be noted that the company Woolworths tend to have priorities on which it tend to develop their strategies for providing services and products from the satisfying the needs and requirements of the customers (Rajabian Tabesh, Batt, & Butler, 2016). Thus, the priorities of the company consists of maintaining the team culture within the business environment, improving the communication in personalized and providing convenient shopping experiences. Followed by, proper differentiating of the food customer propositions, acceleration of the innovation within the drinks business. Along with the company focuses upon unlocking the value in their portfolio and the E2E processes for attracting potential customers and provide an satisfactory and shopping experience to them (Sullivan & Gouldson, 2017). Thereby, the strategic responses that can be intervention for mitigating the issues present within the existing business process consists are as follows:

Intervention 1: Discussing the reed of the broads materiality Universe for Woolworths
These aspects will help in the identification of the material issues, which are being, identified form crosscheck ring of the data gained about the performance of the organization. Such as the reports about the global retail trends, sustainability strategies, which are being initiated along with a brief existence of the net available balance and the practice of the domain.

Intervention 2: Consultations with the stakeholders and materiality research
In context with the current issues identified it is found to be necessary to involve all the present stakeholders of the organization during the creation as well as planning and development of any new input in the processes used in business. Therefore, the engagements of the stakeholders are required so that the decisions can be taken and the risk associated can be mitigated at instance.

Intervention 3: Prioritisation of the existing material issues
As per this aspects it is required that the existing material issues of Woolworths should be evaluated on the basis of the sensor, scale and the sensibilities of Responsibility framework for taking actions about the strategic issues identified.

Part 4: Project option analysis
The project option analysis is another important aspects, which is required to be analyzed for determining the accuracy of the projects untaken by the respective organization and the outcomes that are generated dependent upon them (Naidoo & Gasparatos, 2018). Therefore, analysis of the project of the Woolworth in context with the issues identified will be focusing upon the estimates of the cots that were involved, existing resources of the company and the risks as well as the mitigation strategies. Followed by the options that are required to be analyzed during the project are as follows:

1. Identification of appropriate stakeholder and consultation: For widening the business expansion and successful intervention the company is required to choose appropriate stakeholders who will be having knowledge about the processes involved and take decisions accordingly. Active engagement of the stakeholders will lead to the progress and growth of the organization in prosperous manner.
2. Social impacts: As the technologies are been incorporated on rapid pace it is required that the company should use the available social platforms in order to make an positive impact upon the customers and tactfully able to resolve the issue identified (Montmasson-Clair, Mudombi & Patel, 2019).
3. Environmental impacts: During the analysis of the project the company Woolworths is required to look after the impact of their business in the environment. With the rapid growth of the industries, the increasing of the carbon footprints in the environment are also evident hence, Woolworth has developed sustainable strategies and using the renewable resources for minimizing the harmful effects.
4. Economic impacts: In order to maintain the stability and sustainability of the business organizations it is important to denote the potential economic impacts and avoiding by the norms and regulations of the country for sustaining in longer basis. This will include critically evaluating of the wage rates, interest rates, rate of inflation in order to successfully continue the business.
5. Financial analysis: The financial analysis is considered to be a very important part as it helps in assuming the costs that will be required for each of the projects united during the business undertaken by the organization. This will thus help in proper organizing and control the costs and expenditure made for carrying out the activities and for enhancing the business environment.

Part 5: Deliverability of recommended solution
The business organization is required to implement new strategies in order to incorporate the sustainability of the business processes in innovative manner. Thus, after identification of the issues the organization is required to develop the mitigation strategies in teams of all the functions that are being carried out by each of the existing departments of the Woolworth Australia. Thus, the following recommendations are discussed as follows:

Commercial and financial: In context with the finance, it is required that the company Woolworth in order to gain competitive advantage is required to management their overall resources and the investments in effective manner for improving the current business environment leading to the growth and sustainability

Detailed costing and economic evaluation: Detailed costing is required along with the economic evaluation as these factors help in increasing the potentiality of the organizations and help in improving the economic conditions of the respective country. Hence, the economic evaluations are recommended to be examined carefully as it helps in setting down the costs of the products, which can be easily availed by the individuals residing within.

Management: Recommendation, which is being provided in terms of management, is that being a vital part of the organization the individuals carry greater sense of responsibility for actively involving all the individuals and improve the method of communication in order to convey the messages among all within less interval of time (Sewell, Mason & Venter, 2017).

Delivery: As the improper communication among the stakeholder’s leads to cause disruption in the overall processes, it is recommended that the organization should keep in mind about the varied issues for improving the supply chain management and continue their workings. It should also be noted that in case of the delivery the organizations are to keep in mind about the packaging’s of the products and so that it reaches the customers without getting damaged and quality of the products should be maintained at the same time.

Performance measurement: It is recommended that the key potential indicators should be strictly monitored for tracking down the records of the employees and the works carried out by them for the benefit if the company (Bitzer & Hamann, 2015). It is hence, recommended that the employees should be guided and encouraged by the leaders for increasing their existing knowledge base and increasing their competency level.

Conclusion
It can be concluded from the study carried out in b the sections above that with the globalization the industries are foreign to be rapidly growing. This is one of the advantages sat it helps in widening the business prospects for maintaining the stability of the organization in the current competitive world. On the other hand, the study also highlights the fact that the threats are increasing in parallel manner. Hence, the strategic responses are been studied for gaining a deeper insights about the issues faced by the company Woolworths and the need as well as requirement of the identification and consultation of the stakeholders. Woolworths sustainable business development assignments are being prepared by our management assignment help experts from top universities which let us to provide you a reliable assignment help online service.

Reference List
Charles Jr, O. H., Schmidheiny, S., & Watts, P. (2017). Walking the talk: The business case for sustainable development. Routledge.

Morioka, S. N., Evans, S., & de Carvalho, M. M. (2016). Sustainable business model innovation: exploring evidences in sustainability reporting. Procedia CIRP, 40, 659-667.

Bitzer, V., & Hamann, R. (2015). The business of social and environmental innovation. In The business of social and environmental innovation (pp. 3-24). Springer, Cham.

Uhl, A., & Gollenia, L. A. (2016). Digital enterprise transformation: A business-driven approach to leveraging innovative IT. Routledge.

Flax, J., Bick, G., & Abratt, R. (2016). The perceptions of supplier-buyer relations and its affect on the corporate brand. Journal of Brand Management, 23(1), 22-37.

Rajabian Tabesh, A., Batt, P. J., & Butler, B. (2016). Modelling the impact of environmental and organizational determinants on green supply chain innovation and performance. Journal of food products marketing, 22(4), 436-454

Sullivan, R., & Gouldson, A. (2017). The governance of corporate responses to climate change: An international comparison. Business Strategy and the Environment, 26(4), 413-425.

Naidoo, M., & Gasparatos, A. (2018). Corporate Environmental Sustainability in the retail sector: Drivers, strategies and performance measurement. Journal of cleaner production.

Montmasson-Clair, G., Mudombi, S., & Patel, M. (2019). Small Business Development in the Climate Change Adaptation Space in South Africa.

Sewell, W., Mason, R. B., & Venter, P. (2017). Socio-economic developmental strategies as retail performance indicators: A balanced scorecard approach. Development Southern Africa, 34(3), 365-382.

Bitzer, V., & Hamann, R. (2015). The business of social and environmental innovation. In The business of social and environmental innovation (pp. 3-24). Springer, Cham.