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HOW CAN WOOLWORTHS COMPANY RETAIN HIGH PERFORMANCE THROUGH HAVING COMPETITIVE ADVANTAGE OVER THE EXISTING DIRECT AND INDIRECT
HOW CAN WOOLWORTHS COMPANY RETAIN HIGH PERFORMANCE THROUGH HAVING COMPETITIVE ADVANTAGE OVER THE EXISTING DIRECT AND INDIRECT COMPETITORS IN THE MARKET?
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HOW CAN WOOLWORTHS COMPANY RETAIN HIGH PERFORMANCE THROUGH HAVING COMPETITIVE ADVANTAGE OVER THE EXISTING DIRECT AND INDIRECT COMPETITORS IN THE MARKET?
Introduction
Competition in an economy is a good thing as it reduces inefficiencies, provides incentives for structured organisation and improves innovations (Nickell, 1996). However, for an individual company, competition is a threat that requires a company to develop strategies that could help them have a competitive advantage. Woolworths is a chain of companies in the retail industry, specialising in groceries and selling other products such as beauty, household, and health products. It has its headquarters in Bella Vista Australia, with more than 900 stores all over the country. The retail industry keeps growing, hence increasing competition, which makes the company develop strategies to have an advantage over the competitors, to allow it to attract and retain consumers. Therefore, the research aims to determine the methods that can be used by the company to have a competitive advantage and obtain sustainability.
Purpose of the study
Woolworths is one of the best companies in the retail industry in Australia. However, there have been emerging retail companies in the region, which highly competes with the company in the market. Therefore, Woolworths require to have an advantage over them to retain their position in the market. The purpose of the study is to determine the company’s development methods to maintain this position. Also, it will provide suggestions for actions to implement to have a competitive advantage.
Research Problem and Questions
The research aims to find Woolworth’s competitive advantage over its rival firms that will enable it to retain its performance. The research questions include:
Who are the companies direct and indirect competitors in the retail industry?
What strategies are the rival farms using that threatens the performance of Woolworths company?
What purpose does Woolworth want to achieve in the retail industry?
What are the most appropriate methods and theories that can be applied by the company to ensure they have an advantage over competitors?
Literature review
Competitive advantage is obtained when an organisation executes actions that allow it to outperform the competitors (Wang, 2014). The execution is a process as it requires an analysis of the competitor’s strategies and methods of operations. The review is followed by the development of unique strategies compared to the competitors’. According to a study conducted on competitive advantage, the author states that the main task in strategic management is to build and maintain a competitive advantage that makes it possible for a firm to achieve higher results compared to the other firms (Cegliński, 2017). This observation shows that there is a connection between competitive advantage and performance of a company. However, competitive advantage is not an undifferentiated overall determinant of performance. It is a relational score of a company towards other companies in the same industry that will enable it to have better performance (Ma, 2000). Therefore, it is just an added advantage to a company.
According to a study, competitive advantage is characterized by multi-level structure and a unique position that makes it more productive than the rival firms (Stonehouse and Snowdon, 2007). According to Michael Porter, firms can gain an advantage through the five forces to achieve attractiveness. He identifies increased competition as a negative influence on the profitability of a firm (Porter, 2004). Competitive advantage can either be market bases, resource-based or knowledge-based. These frameworks determine the type of theories that a firm should implement to have an advantage over the competitors in the industry. Determination of the business drivers in the firm is what leads to the identification of the theory and strategy to apply (Halawi, Aronson and McCarthy, 2005). Also, the purpose of the organisation along with its capabilities indicates strategic character, which in turn determine the strong relationship with the competitive advantage (Wójcik, 2015). Therefore, the purpose of a firm is essential in identifying the competitive advantage strategy to apply.
Methodology
Data Collection
The data to be used in the research will include Woolworth’s current performance position in the retail industry, the emerging rival firms in the industry, the consumers’ preferences for goods and services and existing strategies for competitive advantage. The data collection will be achieved through both primary and secondary methods.
The primary data will be acquired through an online survey done on the consumers of the company, through social media platforms. Participants will be invited to give their responses. The survey will involve structured questions on the retail companies frequently used; the satisfaction received, the preferences they have and the value they wish to pay to Woolworth compared to the competitors.
Secondary data will be acquired from Woolworth’s website and published articles on the performance of the company as well as strategies applied to retain its consumers. From the published works, suggestions will be developed to find the best plan for the company to use to remain competitive.
Research Design
The research will be conducted in a descriptive design where consumers attitudes and preferences will be analysed to determine the methods in which Woolworth company should improve on and develop strategies to satisfy consumers and have an advantage. It applies both qualitative and quantitative research methods. A qualitative approach will involve a review of existing information and data from website and articles. In contrast, the quantitative method will include an online survey, with structured questions, on randomly selected consumers.
The sampling Plan
Due to the large consumer population of Woolworths products and services, sampling of the consumers will be done randomly. The people should be frequent consumers of Woolworths products and have at one time tried using the competitor products, for example, Coles company. The sample size will be of 30 individuals randomly invited to participate in the survey. Also, competitor organisations will be sampled by determining their performances.
Analysis And Statistical Methods
The data acquired from the survey and articles will be analysed and evaluated by applying the Michael Porters competitive advantage theory. The technique will determine the variances for the company to consider while identifying the competitive strategies that will enable them to stay competitive. Also, from the survey, analysis of the survey responses will apply the quantitative method to determine the percentages of satisfied consumers and those. They prefer the competitors’ services along with their reasons.
Timing
The research will take one month, where data from the Woolworth company and published articles will be collected. This activity will take one week. After collection of the qualitative data, the survey will then be done. It will utilise the social media platforms hence will take a week to invite and have the participants respond to the questions. It would be easier to answer the questions as they are structured questions, hence during the third week; the analysis will be conducted. The analysis and evaluation of both quantitative and qualitative data will take a week. Lastly, the compilation of the data and findings will be done to develop some suggestions that will ensure Woolworth gains a competitive advantage over its competitors.
References
Cegliński, P., 2017. THE CONCEPT OF COMPETITIVE ADVANTAGES. LOGIC, SOURCES AND DURABILITY. Journal of Positive Management, 7(3), p.57.
Halawi, L., Aronson, J. and McCarthy, R., 2005. Resource-Based View of Knowledge Management for Competitive Advantage. The Electronic Journal of Knowledge Management, 3(2), p.77.
Ma, H., 2000. COMPETITIVE ADVANTAGE AND FIRM PERFORMANCE. Competitiveness Review, 10(2), pp.15-32.
Nickell, S., 1996. Competition and Corporate Performance. Journal of Political Economy, 104(4), pp.724-746.
Porter, M., 2004. Competitive Advantage. New York: Free.
Stonehouse, G. and Snowdon, B., 2007. Competitive Advantage Revisited: Michael Porter on Strategy and Competitiveness. Journal of Management Inquiry, 16(3), pp.256-273.
Wang, H., 2014. Theories for competitive advantage. Being Practical with Theory: A Window into Business Research, 33-43.
Wójcik, P., 2015. Exploring Links Between Dynamic Capabilities Perspective and Resource-Based View: A Literature Overview. International Journal of Management and Economics, 45(1), pp.83-107.
Experience of intersex people
Experience of intersex people
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Experiences of Intersex People
Georgian Davis, a sociology professor and a prior president for the interACT organization, which champions the intersex persons, has endlessly enlightened the community in intersex people and giving them a basis of acceptance to society. Davis gives insights that medical practitioners have been trying to “fix” intersex babies as we all have an understanding that we are either male or female. Davis terms the situation unalterable as doctors try to shape on into male or female. Sax 2002, in response to a post, argues that we are not bound only to sex, gender, and sexuality that we are either male or female. Many differences give us gender as we humans are complicated, and we need to have an outlook not only by looking at our genitals.
Diana Garcia, an intersex, explains how she was terrified watching her sisters growing up ad having periods, yet she was old enough to have started but never did. A problem that intersex mostly faces is the concealment of truth. They are left out by not being let in the light of what’s the matter. Diana’s parents were also affected as the doctors wouldn’t enlighten them on what kind of a woman she was. From the lies, shame, and fear, Diana felt angry and depressed, and the situation worsened as he couldn’t get the truth until she was old enough to understand by herself. However, its essential for support groups to come along (Cull et al., 2010). Although it’s hard to change the physical situation of intersex, intersex psychology would also be altered to positive by individuals and support groups.
Medical examinations have also been a frontier in stigmatizing the persons as children, as in Laura’s case. She felt uncomfortable asked to drop her pants for examination. She also left-back in truth as she understood her state after reading her medical files. Laura states that medical doctors have a tapered view on sexuality, and society is biased and tends to discriminate that they don’t understand.
References
Cull, M. L., & Simmonds, M. (2010). Importance of support groups for intersex (disorders of sex development) patients, families and the medical profession. Sexual Development, 4(4-5), 310-312.
Sax, L. (2002). How common is intersex? A response to Anne Fausto‐Sterling. Journal of sex research, 39(3), 174-178.
Distress Alerts
Distress Alerts
Introduction
Paramedics and other first responders are at high risk of psychological distress and associated symptoms such as burnout (McFarlane, Williamson and Barton, 2009). The effects of stress factors on paramedics are well studied and the correlation between these known factors and job burnout and dissatisfaction has resulted in paramedics making errors and a decreased level of patient care (Le Blanc et al. 2005). Understanding the predictors would enable policies to be instituted to help prevent and intervene and reduce such stresses (Bennett et al. 2004, McFarlane, Williamson & Barton, 2009). Vettor and Kosninski (2000) identified paramedic characteristic responses as emotional exhaustion; depersonalization, and lastly personal negative assessment, one question is whether international paramedic students suffer similar feelings as they undergo their training and more specifically, the coping strategies they utilize to manage these feelings?
Managing stress factors for paramedics include peer support, and this along with how they express their emotions, are two types of predictors of psychological distress and burnout (Porter 2008). Clohessy and Ehlers (1999) state that the daily encounters that paramedic’s face impacts their lives and leaves an indelible mark on a paramedic’s psychological state. As an international paramedic student they learn how to assess and initiate pre-hospital care after the occurrence of the emergency mostly in the ambulance. Paramedic students learn about critical incidences that prepare them for situations that they are likely to come across in their career, which is always stressful and has negative outcomes like stress, fatigue, and burnout (Alexander & Klein 2001).
In the coping literature, two broad types of coping have been described. These are known as problem focused coping and emotion focused coping. Problem-focused coping is seen as putting effort into solving or managing the problem, which has caused the initial distress (Kilburn & Whitlock n.d.). In this process strategies focus on assimilating the necessary information in order to plan, make decisions, and resolve differences; only through gathering resources can one expect to address the problem(s) that requires specified action to resolve them (Kilburn & Whitlock n.d.). With emotion-focused coping the focus is on alleviating emotional distress by using the cognitive processes like having a positive attitude, or adopting behavioral strategies such as getting emotional support, or by using drugs or alcohol as a mechanism to cope (Kilburn & Whitlock n.d.).
Predictors to paramedic stress include factors like, avoidance, social support, and coping, like that of problem-focused and emotion-focused coping. International paramedic students gain experience how to deal with issues in situational training and are trained how to cope (Alexander & Klein 2001). International paramedic students are exposed to learn about both physical and emotional health (Corneil et al. 1999). It is from the impacts of stress and burnout that the correlations between these consequences that affect a paramedic to self-evaluate their chosen career (Nirel et al. 2008). The correlation then between predictors and stress and burnout can result in establishing estimates of length of service that a paramedic might have and, which in turn affects the continual demand for future paramedics (Nirel et al. 2008).
The need for pre service training of stress management coping is something that Regehr and Millar (2007) and Okada et al. (2005) explored and that there is an essential need for stress management tools and education. While peer support has not been linked directly to psychological stress and burnout, a paramedics’ negative attitude towards emotional expression and coping are predictors, which are related to fatigue rates, stress symptoms, and burnout (Bennett et al. 2004; Porter 2008). Just as paramedics require peer support for them to be able to cope with stress, rejection from society, confidentiality issues, people’s judgments on how they are inadequate, and ways to express their emotions (Blumenfield & Byrne 1997) another question is how does an international paramedic students learn to cope when facing the rigors of the programs they undertake?
It can be assumed that all international paramedic students suffer from stress, so the aim is to identify the coping styles and strategies that paramedic students currently use to manage this stress. By undertaking a quantitative study it is hoped that a greater understanding of the predictors associated with pre-service stress factors for international paramedics students can enable greater levels of coping mechanisms, such that, these students will have greater coping mechanisms as paramedics so as to manage their stress levels better and this will reduce burnout and improve patient care. From this there is potential to develop positive coping mechanisms for students that may help when they are in-service (Creswell 2009).
Specifically, this study involved an investigation of the current coping styles and strategies of international paramedic students and the factors that predict positive, problem focused coping style that is the most adaptive form of coping. The research question that was addressed was: What are the predictors of a problem focused coping style amongst international paramedic students? It is hypothesized that:
1) Problem focused coping style are associated with Personal control; and
2) Peer and institutional support, while
3) Emotion focused coping style were associated with depersonalization.
Research plan, methods and techniques
Study Design
The study design involved the use of a cross-sectional survey and this provided a simplified design and expedited the collection and analysis of the data (Creswell 2009). Kraus (2005) defines a cross sectional survey or prevalencetransversal study as one where the researcher identifies a subset of the whole population under study. This subset must be well representative of the whole population. The cross sectional survey questionnaires interviews were conducted on one day again with an emphasis on time and expedience. The data collection and analysis was quantitive in nature, this approach was favored as it would eventually produce data that was systematically arranged and that was easy to logically analyze (Creswell, Trout and Barbuto, 2004). The data hence collected was easy to analyze through various methods and mediums and help the researcher come to a deductive conclusion.
References
Nie, N. (2008). SPSS: statistical package for the social sciences, Volume 1, New Jersey, McGraw Hill.
Nirel, N, Goldwag, R, Feigenberg, Z, Abadi, D & Halpern, P 2008, ‘Stress, Work Overload, Burnout, and Satisfaction among Paramedics in Israel’, Prehospital and Disaster Medicine, vol. 23, no.6, pp.537-546.
Okada, N, Ishii, N, Nakata, M & Nakyama, S 2005, ‘Occupational Stress among Japanese Emergency Medical Technicians: Hyogo Prefecture’, Prehospital and Disaster Medicine, vol. 20, no. 2, pp.115-121.
Porter, S 2008, ‘Increasing Paramedic Students’ Resiliency to Stress: Assessing Correlates and the Impact of Intervention’, Fanshawe College, pp.1-17).
Reger, C & Millar, D 2007, ‘Situation Critical: High Demand, Low Control, and Low Support in Paramedic Organizations’, Traumatology, vol.13, no.1, pp. 49-58.
Relevant Insights 2012, ‘Research Tools’, RelevantInsights.com, viewed 6 September 2012, <http://relevantinsights.com/research-tools>.