INTERNAL AND EXTERNAL FACTORS AFFECTING HRM FUNCTIONS OF WOOLWORTHS LIMITED
Category : Human Resource Management Topics, Internal and External Enviromental Factors, The Retailing Industry, Woolworths Limited
INTERNAL AND EXTERNAL FACTORS AFFECTING HRM FUNCTIONS
Woolworths limited is a retail company, a major retail establishment in Australia and New Zealand. Woolworth is also popularly known as woolies “The Fresh Food People” as their slogan. They have established major store throughout these countries having a wide array of consumer product lines from food to non-food, liquor, grocery items, electronics, general merchandise and many others. This company employing almost 200,000 people houses more than 3000 staff, they have 420,000 stakeholders in 2008 alone. With this in mind we can say that this company constitutes a very strong force in market and in people, thus their strength and weaknesses, opportunities and threat can only be measured in a deep thorough study in terms of management of personnel and human resource handling.
Internal forces includes a very strong representation of management and staff who are well distinguished people in customer service and well knowledgeable store personnel who takes care of the store display and control the merchandise allocation and purchases of only the bestselling products. Products that do not sell in the market would basically get the last in their list. They only sell the best and economical brands of products. While externally they have a wide range of suppliers all over the countries to sell high end products that than can offer of value to the costumers.
With the cooperative help of Human Resource Management and staff they have
hired wide range of employees inside their store; Including a focus in especially able individual, indigenous people from other nationality and religion, they have valued people from all walks of life including people with or without experience. They are able to teach people to deserve a job which includes high tolerance in customer service. Thus they have gained the confidence of customers in spite of diversity in work culture. They have followed rules and regulations of the government to further strengthen their store services and as a socially responsible business organization. They have equally share compliance to give the stakeholders their amount of shares in time to ensure and comply with the dealing in security exchange program. They have given the employees the best package in the industry including salaries and wages, bonuses, medical and dental services to gain confidence in their people. They are equal opportunity employees who are open to comments, question and suggestion that will add up to the betterment of the company. And all this have been their strength. In return, employees have served them well and customers are regularly attending to their stores.
The only weaknesses they can have maybe the employees and people who are not much knowledgeable in their language that may hinder the efficiency of their work. However the continuous commitment to develop and train these people can overcome some of these hindrances. Disabled people may need more attention to learn and succeed. A deaf individual may find it hard to serve the customer’s needs however his assignment in warehouse or in maintenance somehow solved problems like this one. In some companies this maybe a weakness.
Their sources in retail are highly reliable there should be no problem about their stocks but I highly recommend having a wider variety of resources to gain more advantage when stocks or low rates of sales have been experienced in any branches. It’s a good thing to have a substitute in times of crisis.
Talking about opportunities the stake of worldwide expansion are high, they can easily be accepted in International communities. They got all the people the resources and technology to expand. Consider the opportunity in the nearby countries in United Kingdom to start. They can also hire the best people in the world to work to them. This company can also expand in diverse businesses more than retail but also in real estate, production and promotion since they have already establish a very strong name in marketing and sales distribution. Using their assets and financial stability they can gather support reluctantly. Their Management and Human Resource can establish a very strong policy to promulgate such regulation to come up with such solution.
Risk management has identified the competition as a threat upon expansion. They can also say that the importation of supplies of goods may add up to the price of the commodities. They will also need to learn the basic laws and regulation upon expansion depending on the demographic region they have chosen to expand.