Wesfarmers Case Study
They also dictate goals that the organization aims to achieve. This report has analyzed the strategic management planning, business description, and details of Wesfarmers organization. Therefore, several recommendations for improving strategic management at Wesfarmers have been stated. Discussion Wesfarmers was established in 1914 with the main aim of providing services and merchandize to farmers in Western Australia. Initially, it was mainly focused on hardware products. (2012), many overseas organizations offer free delivery of their products and this has led to stiff competition between it and other overseas retail companies. In order to face the stiff competition in the retail sector, Wesfarmers has to concentrate on the quality and price of their products. The organization has the mission of providing satisfactory products and services to its target customers and shareholders.
Wesfarmers, S. (2016) suggests that the organization also wants to improve its reputation in the larger market so as to face the stiff competition brought about by other retail companies. According to Budhwar and Debrah (2013), customers need to get quality products for the success of a business. Employees need to be considered too. In this context, Wesfarmers should ensure healthy working conditions for its employees. The well-being of employees should be given a higher priority (Rothaermel 2015). Other factors that Wesfarmers should consider is the external environment, in which it operates its business. Products are the main reason why Wesfarmers is conducting business. According to Jiang et al. (2012), certified products tend to attract more customers than uncertified ones. An example of a third-party company that guarantees the quality of products is the International Organization of Standardization.
Therefore, the organization should always ensure that only quality products are produced in order to continue being in the market. Employee Training Programs Training programs are meant to impact more knowledge and skills to employees. They are taught new business approaches and skills that can help them conduct business operations more effectively. Employees can be trained annually or semi-annually through programs such as benchmarking in other organizations or business trips. Training should be considered an important approach to educate employees. Conclusion Therefore, strategic management is vital for the success of any business. Human resource management in developing countries. Routledge. Hitt, M. , Ireland, R. D. L. Clarifying the construct of human resource systems: Relating human resource management to employee performance. Human Resource Management Review, 22(2), pp.
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