An Executive Summary for Woolworths a Major Supermarket Grocery Store Chain in Australia

In accordance to the annual report of Woolworths Limited 2016, the current accounting practice that is applied to the business regarding its inventory disclosure includes; a perpetual inventory system which continually updates the information by increasing or decreasing inventory from reports throughout the year to verify accounting records (Bragg 2016). A perpetual inventory system in comparison to a periodic inventory system is more efficient and effective for larger corporations. With entities like Woolworths, many transactions occur between themselves and other stakeholders, so by utilising a perpetual inventory system, it saves time and also money (Woolworths 2016)

The scenario chosen was a 65-year-old woman with high blood pressure. I decided to base my meal plan on cheap food and starches mainly. The full service store I decided to use was Wal-Mart. Wal-Mart is known for having lower prices so I decided to shop there and found everything on my list. Also at Walmart, I bought generic items which helped to save money. The convenience store that I went to was CVS where I could not find fresh items. At Walmart I was able to find bananas and spinach fresh however, at CVS there was no fresh food options available. I also decided to use frozen fruits and frozen vegetables in my meal plan because I knew it was cheaper but it was not accessible at CVS. There was enough money for me to purchase the food that was on my meal plan. In fact, I actually had money left over and was surprised that anything was left over. I decided how much of everything I needed by serving sizes. At CVS, even

Coles Myer Limited (CML) and Woolworths Limited (WOW) are two major Australian companies with extensive retail interest and listed on the Australian Stock Exchange. They are Australian public companies which operate a number of retail chains.

This report will demonstrate, apply and evaluate knowledge and understanding of key managerial disciplines of the chosen high street retailer, Marks and Spencer, in different real-world global contexts. According to the report by Deloitte, the retail industry is undergoing immense changes and faces a tough competitive

Wal-Mart’s mission statement is, “Saving people money so they can live better.” This statement was what Sam Walton aimed for over fifty years ago. According to Wal-Mart Stores, Inc. (2015), there are now 11,488 stores worldwide and 5,187 of the stores are located in the United States. This company has grown each year since opening in 1962 and is still growing. Wal-Mart is and remains a successful company do to its use of the four managerial functions, all of which are needed to have a successful Management Process. In this paper I will explore how Wal-Mart uses the four managerial functions: planning, organizing, leading, and controlling to maintain their position on the Fortune 500

In what ways does Trader Joe’s demonstrate the importance of each responsibility in the management process- planning, organizing, leading and controlling? They have created their own University for future leaders. By controlling who they promote, only within the company, and planning room for advancement from the day you become an employee shows the value they take in their staff. For example, imagine you start as a cashier and it’s your first day on the job. It can bring great comfort knowing that your manager started in exactly the same role. Not only provides management with the ability to relate to their employees but also the employees to look to the manager’s leadership and mentoring for success.

Bunnings is the market leader in this industry who gains 64% of total market share, followed by Mitre 10 with 13.0%, and Masters with 8.0% of market share (The Australian, 2016). The company’s revenue continuous increased since they started the business in 2011 to 2014, they gained total revenue around $1527 million in 2014 (Woolworths, 2015) but the company still got the loss from their operation expenses. Moreover, the sales dropped by 16% in 2015 that was the main reason for Lowe’s to delist the joint venture in the beginning of 2016 as it claimed that Masters has poor profit performance (IBIS, 2016). In the meantime, Woolworths publicised its intention either to selling the business or shutting it down (ABC, 2016, para. 15). Thus, there are several causes of these problems that Masters should solve in order to survive in this business and compete with its competitors.

Woolworths is a conventional supermarket owned by Woolworths Limited. It started as a basement store in Pitt Street in 1924, and is now one of the leading competitors in the supermarket business. With over 850 stores in Australia, and 110,000 Woolworths staff, they provide

When the first Woolworths supermarket open, the Founding CEO Percy Christmas has stated that a key principle for Woolworths were “Every man, woman and child needs a handy place where good things are cheap” which has been insisting by all the Woolworths employees and suppliers until now. Now Woolworths has more than 3,000 stores in Australia and New Zealand that span food, liquor, petrol and general merchandise. (Woolworths Limited, 2015).

There are various internal and external factors that affect the four functions of management in business. Some of these internal and external factors are globalization, technology, innovation, diversity, and ethics. As among the biggest retailers and employers across the world, Wal-Mart has several issues to take into consideration with regard to the four functions of management. When undertaking planning, organizing, leading, and controlling, Wal-Mart’s management will have to take into account precisely what external and internal factors will have an effect on planned managing alternatives.

This report consists of three parts. The first part introduces the two multinational retail stores, Tesco and Walmart, with their backgrounds and history respectively.

Woolworths originated in 1924 and was originally under the name "Wallworths Bazaar Ltd. "Bargain Basement" was the first supermarket to open in the Imperial Arcade, on Sydney's Pitt Street, there was little interest in shareholders to accelerate the brand's growth but however, as trading continued and shareholders brought more capital, the dividends paid by the company increased from 5% to 50% after its third year of operation which is now Australia’s largest supermarket chain with 995 stores across Australia. Woolworths is owned by Woolworth’s limited with Woolworths headquarters in Bella Vista, new South Wales they mostly specialises in selling groceries such as vegetables, fruit, meat, packaged foods as well as magazines, DVD, health & beauty products, household products, pet and baby supplies and stationery items.

Woolworths Limited has held the leading position in the market for over past many decades. Woolworths Limited is Retail Company made up of a number of businesses all providing the customers with quality, range, value and everyday low prices. Woolworths is built on a passion for retail, attention to detail, working hard, ensuring the safety of their valuable customers and people, and having fun. Woolworth’s mission is to deliver to customers a better shopping experience - each and every time.

Woolworth’s started out as a single variety store similar to Wal-mart and opened its first supermarket in 1955. It then opened the Big W discount department store chains for general merchandise and then Dick Smith Electronics in the consumer electronics division. Its operations are mainly in the supermarket category launching under nearly ten different names. The most recent one would be Macro Wholefoods Market which sells organic food and produce. Woolworth’s stalls also include Thomas Dux Grocer, the upmarket deli chain, which has branched out from Woolworth’s concept of inexpensive and whole sale method. Expanding from the brick-and-mortar method, it has e-tailing channel as well. Woolworth’s is also famous for Everyday Services which have loyalty program offering reward cards, Credit Card system and pre-paid mobile service. In June 2010, new product known as Everyday Money Prepaid MasterCard was introduced.

| | |Woolworths Ltd. | |Account Assignment | | | |Kavindi, Justin & Gurleen | |17/01/2011