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Essay / Rating 1 - 1399
Wesfarmers is one of the largest cooperation groups in Australia with famous listed companies, such as: Coles, KMART and Target, with various business operations associated with these companies. Operations include hypermarkets and other services, such as: insurance, chemicals, energy and fertilizers, as well as industrial and security, provided to customers. Wesfarmers has a massive number of employers and shareholders around 500,000. Since it is one of the largest business groups in the Australian market. There is no doubt about it; has coped well with the strong competition in external and internal markets in the same business activities. The company today leads the market with high performance in selling goods and providing services to its customers. Therefore, the company dominates the market with remarkable performance, both in the sale of goods and in the provision of services. However, given the turbulent market environment, the company must continually revise its business strategy to maintain the same level of business success. It is also important for the company to eliminate the various forces that shape its competition in the market. Hamel and Prahalad (1994) point out that competition for the future gives the company a chance to dominate any particular type of new goods and/or services. - Competition for the future, gives permission to the organization to note different criteria that will be assigned to it. Furthermore, prizes the royalties that arise from the fair recognition of critical mental property (Hamel and Prahalad 1994). - Hamel and Prahalad (1994) allow a company to order the market on which other assemblies will have to compete. - As Gary and CK (1994, p178) mentioned: "Moving into the future can allow a company to ...... middle of paper ...... file for customers." - Customer relations: does the company have after-sales services for customers? Does the customer feel satisfied with the company's help and support after the sale? - Human resources: Does the company have competent staff with sufficient knowledge, skills and experience to carry out the work efficiently.- Leadership: What type of leadership does the company follow? Does senior management support business achievements? Is there communication between senior management and the company's employees? Last but not least, in the points mentioned above, shareholders focus and make sure to give their anticipations on areas related to the internal functioning of the company and/or processes. As a result, shareholders derive value from the company's operations and this is what they seek from their contribution to the company..