Assessment Task

Individually, you are required to: 

• Monitor news and online sources of opinion to identify three (3) separate strategic influences that together impact on the outcomes of an organisation of your choice • Discuss how the practice of strategy categorises these strategic influences and identify the implications for the organisation in question
• Identify a strategic course of action to address these circumstances

Please refer to the Task Instructions for details on how to complete this task.

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Context

The assessment of this subject supports students in developing their skills and knowledge in the foundational management topics that include external environmental assessment, problem diagnosis, strategy development, and the consideration of cultural and ethical contexts. Effective strategic management is designed to proactively respond to changes in technology, external environment, and market tastes. A contemporary understanding of the dynamic forces shaping strategic choices is essential for the successful execution and delivery of strategy.

Instructions and deliverables

1. Over the duration of the course, you are to monitor news and online sources of opinion to identify three (3) separate strategic influences that together impact on the outcomes of an organisation of your choice. These influential factors may be local, national, or international in nature, but they must represent a changing or evolving story. For example, advances in battery technology, stricter emission controls, and a general move towards sustainable energy has resulted in General Motors (and indeed almost all car manufacturers) actively marketing electric or hybrid models for release in coming years. Note this example is not to be used in your submission.
2. You are to discuss how the practice of strategy categorises these strategic influences and identify the implications for the organisation in question.
3. Drawing upon your understanding of theories, models and frameworks discussed in class, you are to identify a strategic course of action to address these circumstances (by either capitalising on positive influences or minimising the impact of negative influence) in a way that will result in long-term benefit to the organisation. This should include a statement of the firm’s revised goals as a result of this change in strategy.

Suggested format

Your Contemporary Analysis should be structured as follows: 

Section 1: Title page

Section 2: Executive Summary

An executive summary provides a succinct summary of the content within the report. It presents information in such a way that readers are able to understand the intention and key elements of the report without having to read the entire document. 

Section 3: Table of Contents

Table of Contents must have accurate page numbers and be attractively formatted. Section 4: Introduction

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The introduction sets the scene and provides context for the aim. It provides background to the issues being addressed only. 

Section 5: Aim

The aim should start with the words, “The aim of this report is to…”. It should be a simple and concise restatement of the assessment task. 

Section 6: Discussion

• This section should provide information regarding the analysis you undertook addressing the key deliverables.
• Identify three strategic influences that together impact on your chosen organisation. • Discuss how the practice of strategy categorises these factors and identify the strategic implications for the organisation in question. 
• Identify a strategic course of action that can be adopted by the organisation you have chosen.
• Present a statement of the strategic goals the firm should set, and their implication on the organisation.

Section 7: Conclusion

The conclusion restates the aim then provides a brief and concise summary of the discussion to demonstrate that the aim of the report has been achieved. No new information is to be included in the conclusion. 

Section 8: Recommendations.

Recommendations represent the next steps derived from the report. For example, if your report concludes that a new factory is required to address the strategic change then the next steps will include obtaining finance to purchase the new facility and/or assembling and mobilising a team to explore options for location and size of the new facility. 

Section 9: References

Please use the correct API referencing style and list in alphabetical order. It is recommended that you use reference management software such as EndNote or Mendeley to make the job of referencing simple and straightforward. Remember, every factual statement in your report will require a reference. 

Section 10: Appendices

This is where you provide supporting material which is unsuitable for inclusion in the body of the report, but still has some value to contribute to the report.

Referencing

It is essential that you use appropriate APA style for citing and referencing research. Please see more information on referencing here in the Academic Writing Guide found via the Academic Skills  website.

Academic Integrity

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All students are responsible for ensuring that all work submitted is their own and is appropriately referenced and academically written according to the Academic Writing Guide. Students also need to have read and be aware of Torrens University Australia Academic Integrity Policy and Procedure and subsequent penalties for academic misconduct. These are viewable online. 

Students also must keep a copy of all submitted material and any assessment drafts. 

Submission Instructions

This Contemporary Analysis is to be written according to academic writing guidelines and must be submitted in compliance with the following:

1. You should make significant references to the subject material and substantial wider reading. A minimum four (4) academic (books & peer-reviewed journal articles) & five (5) other sources (newspaper article, trade publications, websites, etc.) must be used. These should be referenced in the APA style, both in-text and in a reference list. References to ‘Wikipedia’ or similar unsubstantiated sources will not be accepted. The assignment is to include in-text citations and a reference list following the latest APA referencing style. The APA referencing guide can be located in the Academic Writing Guide at http://library.think.edu.au/ld.php?content_id=1882254

Students are to submit Assessment 3, Contemporary Analysis (with references) via the Assessment link in the main navigation menu in MGT604 Strategic Management on the Student Portal. 

Students should use the brief to guide what to include in the assessment and the following rubric to inform the standard required. The Learning Facilitator will provide feedback via Grade Centre in the Student Portal. Feedback can be viewed in My Grades.

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Assessment Rubric

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CONTEMPORARY ANALYSIS
Executive summary

This report has addressed strategic influence on WESFARMERS and while doing so different primary objectives have been identified. These primary objectives have been observed to be able to provide a satisfactory return to respective stakeholders. Exceptional management and financial discipline have been addressed in this context which further helped in identifying divisions which have been affected by strategic influence. Based on these identified aspects, some recommendations have been furnished that can further help in defining effect of strategic influence and its respective methods. These methods can further help in its respective governance framework.

Introduction 

Wesfarmers is one of the conglomerate industry operating all over the world with its headquarter in Australia. This organisation deals in varieties of products in some of the emerging and emerging countries like New Zealand, India and many others. Current revenue of the organisation is more than 30 billion Australian dollars. There are different strategies which are being used by the organisation for delivering the best products to all their customers and also enjoying a competitive edge in the market. The organisation also has a number of subsidiaries and deals in different segments of the market. The organisation has its presence in the energy development of the country along with manufacturing varieties of fertiliser for cultivating crops. In this report, the discussion is made on the strategic influence which was incorporated by the organisation along with the key deliverables of the organisation. There are different methods by which all the influences were implemented are discussed in this matter. 

Aim

The main aim of the organisation is to “provide a satisfactory return to all shareholders and customers”. 

Discussion 

Key deliverables of the organisation

Key deliverables refer to providing better results to all the shareholders from the financial results which are achieved by the organization (Rabe et al. 2019). There are different types of key deliverables which are provided to all shareholders and also to different employees who have completed a task in an appropriate manner. The main two types of key deliverables are "tangible and intangible". The main deliverable of the organisation is providing the best results to all the shareholders based on the performance of the organisation. The type of key deliverable which is being offered to all the stakeholders is tangible (Van Lierop, Badami, & El-Geneidy, 2018). In this case, a part is being offered to all the shareholders based on the finances which were achieved by the organisation. There are other forms of deliverables which are also being which are based on the creation of different prototypes, studies, buildings, expanding businesses and many others. All these are considered as the process deliverables. 

Key deliverables are also being used for determining the scope of the project along with the statement regarding the work based on which the entire work is to be conducted (Rachinger et al. 2018). A proper budget is also being created for a proper gathering of funds for the completion of different projects. These are all the key deliverables which are being offered by the organisation to all of the shareholders and also to the stakeholders in an efficient manner. All these things are required to be maintained so that all the tasks can be completed efficiently and it can also bring different investors for the expansion process in the organization (De Pelsmacker, Van Tilburg, & Holthof, 2018). All the deliverables which are being provided by the organsiatiuon can also be tracked in an effective manner by following various rules like meeting the expectations which are predefined, tracking the progress report of the organsiation based on various tools and many others.

Impact of strategic influence on the organisation 

There is a positive impact on the organisation after using different strategies in the business which can be identified from the increase in the revenue which is shown. There are different other impacts which can also be determined based on the strategies which are being implemented in the business (Klofsten et al. 2019). There are some other impacts which can also be seen from the implementation of all the strategies in the business. One of the main strategies which were implemented in the business is following social responsibilities in the workplace.

This has allowed the management to show respect to all the employees and thus different works were conducted in an efficient manner and both short term as well as long term targets were met effectively. All these also allowed the organisation to encourage them effectively and perform various tasks. It has also promoted creative thinking in the environment so that different solutions can be generated based on various problems in the workplace. All these strategies have also allowed the management to track the progress of the organisation and also its performance so that all the tasks can be completed in an efficient manner (Pham, Tučková, & Jabbour, 2019). Motivation was also being provided to all of the employees so that different tasks can be completed easily with good solutions and strategies in the workplace. 

Figure 1: Profit of Wesfarmers limited

(Source: Statista.com, 2022)

Along with all these, there are certain other impacts which are also recognisable in the organisation based on innovation. Different innovation techniques which were implemented in the business have lowered the situation of risk and different mitigation techniques can also be generated (Kendal et al. 2018). Using different sophisticated tools in the business allowed the management to track the progress of ongoing projects and also allowed the organisation to maintain a good cash flow in the business. Different models were also taken into consideration for the betterment of the business. It can also be seen that the operating income of the organisation has also improved at significant rates.

Along with all these the number of projects which are being acquired by the organisations is also good and allows the organisation to generate better results from the business. It also allowed the management to expand in different countries and diversify the range of products which are being implemented in the business. All the strategies based on the influence which was taken into consideration by the organisation also allowed better sustainability so that it can provide a competitive edge to the business (Scaglioni et al. 2018). It has also allowed the organisation to gain a competitive edge in the business and perform various tasks and provide better products to all the customers at cheaper rates. 

Categorization of different factors for strategic implications

Different strategies which are being implemented in the business by the organisation are solely based on strengthening the ongoing business by operating in an efficient manner. Management of the organisation is also focussing on securing the growth of the initiatives which are taken by the organisation along with promoting new entrepreneurs (Scaglioni et al. 2018). The management of the organisation is also looking forward to establishing a better relationship with all the suppliers for getting different materials at cheaper rates. These are some of the main strategies which are being incorporated and implemented by the management in the business for the betterment of the different projects. All other categories of strategies which can bring influence the business are solely based on "empowering culture" in the workplace and ensuring better engagement with all the employees (Pham, Tučková, & Jabbour, 2019). Management of the organisation has found it essential that empowering the culture within the industry may allow them to use different frameworks which can be used for achieving different targets which are being set by the organisation. 

Figure 2: Revenue of Wesfarmers limited

(Source: Statista.com, 2022)

Social responsibility is another category which falls under this category. Regarding this aspect, the management deals with every employee with respect and focuses mainly on establishing a long term relationship with different suppliers and making the fundamentals of the organisation and also the business strong for future expansions (Liu et al. 2021). High standard ethics are also maintained by the organisation in the work environment and also different human rights are also being followed for ensuring a healthy workplace in the industry. Along with maintaining great social responsibilities innovation is another aspect which is also being considered and being adopted by the organisation for encouraging different employees and also to enhance the creative power of the employees.

All these implementations in the work culture allow the management to maintain a good cash flow and provide the best deliverable to all the shareholders. Following all these best products is also being provided to all the customers and clients. It can be determined that the revenue of the organisation has increased from 26.76 Australian dollars in 2018 to 36.84 Australian dollars in 2022 (Statista.com, 2022). Along with all these strategies' influence, there are different core values which are also being used by the organisation for conducting the business are "integrity, openness, accountability, and entrepreneurial spirit". It can be seen from the above figure that by following all these strategies in the business and after ensuring a healthy work environment the revenue of the organisation is also increasing at significant rates.

Methods to be used for implications of strategic influences

There are different ways by which all the strategic influence can be conducted in an efficient manner and also can be implemented in an efficient manner. The different methods that are being used for implementing all these strategies are "strategic influence method, tactical influence method, situation influence method" and many others. These strategies allow the management to create a proper development plan; allow raising good revenue from the business. These allow providing good dividends to all the shareholders so that the objectives of the organisation can be achieved in an efficient manner (Stylos et al. 2021). It also allows the management to gain different knowledge based on the subject and perform various tasks efficiently. Different delegations based on authority can also be promoted so that all the tasks can be achieved in an efficient manner. Different methods also consist of motivating different people for the betterment of the work and also increasing the support from the shareholders. 

“Inverted influencing strategy” allows every influencing factor of the organization that provides proper support to increase attention, trust, support, and favour of a different person. Many people may not prefer this particular strategy because it considers both disingenuous and manipulative factors which are why it’s never become an effective strategy. Many individuals use this influence strategy to maintain delegated authority and organizational clout that provide proper advantages. Using this strategy help to increase organizational visibility, it also helps in maintaining promotional and professional improvements of the organisation. Moreover, every organization needs to be more ensure before using this strategy because of its backfires and dramatically influencing factors that can change professional reputation.

Many people sometimes want to motivate others regarding their essential work. In this analysis unintended influence goes its opposite way because it occasionally influences others, especially for political offers. Those candidates that are influenced by this key factor motivated candidates to the opposite position. It mainly came under the category of “no good deed goes unpunished”. This type of influence is used to maintain individual advantages so that individual can push their projects without any type of appreciation (Stylos et al. 2021). The pushback comes forward from the provided messenger, the prioritization of this project become simpler and lower to reallocate all resource. This type of key influence helps to maintain the system implementation of executives so that they will monitor every advantage of the individual. It also helps to protect individual understanding of emotional intelligence that secures individual positions

Statement of strategic goals and its use 

The main statement of the organisation is "engaging fairly with our suppliers, and sourcing ethically and sustainably; supporting the communities in which we operate; taking care of the environment; and. acting with integrity and honesty in all of our dealings".

Conclusion

In this report, the discussion is made on different strategies which are being implemented by the Wesfarmers while conducting various businesses. Along with the strategies different methods are being implemented in the business for using all the strategies in an effective manner are also discussed for better understanding. A proper budget is also being created for a proper gathering of funds for the completion of different projects. These are all the key deliverables which are being offered by the organisation to all of the shareholders and also to the stakeholders in an efficient manner. All these things are required to be maintained so that all the tasks can be completed efficiently and it can also bring different investors for the expansion process in the organization.

Recommendations

It can be recommended that along with all these strategies different leadership strategies are also required to be implemented in the business so that all the tasks can be completed in an efficient manner. It also allows dealing with various risks which may arise in the business and also increases the interaction and engagement with different employees in the work field. 

References

Journals

Ali, B. J., & Anwar, G. (2021). The Effect of Marketing Culture Aspects of Healthcare Care on Marketing Creativity. Ali, BJ, & Anwar, G.(2021). The Effect of Marketing Culture Aspects of Healthcare Care on Marketing Creativity. International Journal of English Literature and Social Sciences, 6(2), 171-182.Retrieved From: https://www.researchgate.net/profile/Kofand-Anwar/publication/350490661_The_balanced_scorecard's_evolution_as_a_strategic_mechanism_at_banking_sectors/links/6067a589299bf1252e244b67/The-balanced-scorecards-evolution-as-a-strategic-mechanism-at-banking-sectors.pdfRetrieved On: 17^th November, 2022

Ali, B. J., Gardi, B., Jabbar Othman, B., Ali Ahmed, S., Burhan Ismael, N., Abdalla Hamza, P., ...& Anwar, G. (2021). Hotel service quality: The impact of service quality on customer satisfaction in hospitality. Ali, BJ, Gardi, B., Othman, BJ, Ahmed, SA, Ismael, NB, Hamza, PA, Aziz, HM, Sabir, BY, Anwar, G.(2021). Hotel Service Quality: The Impact of Service Quality on Customer Satisfaction in Hospitality. International Journal of Engineering, Business and Management, 5(3), 14-28.Retrieved From: https://www.researchgate.net/profile/Bayad-Ali/publication/351780048_Hotel_Service_Quality_The_Impact_of_Service_Quality_on_Customer_Satisfaction_in_Hospitality/links/60a9741592851ca9dcdad96a/Hotel-Service-Quality-The-Impact-of-Service-Quality-on-Customer-Satisfaction-in-Hospitality.pdfRetrieved On: 17^th November, 2022

Anh, D. B. H., & Tien, N. H. (2021). Strategic analysis for Nguyen Hoang Group in Vietnam the approach using CPM matrix. Strategic analysis, 2(4).Retrieved From: https://www.researchgate.net/profile/Nguyen-Tien-32/publication/352786512_Strategic_analysis_for_Nguyen_Hoang_Group_in_Vietnam_the_approach_using_CPM_matrix/links/62050285cf7c2349ca06e170/Strategic-analysis-for-Nguyen-Hoang-Group-in-Vietnam-the-approach-using-CPM-matrix.pdfRetrieved On: 17^th November, 2022

De Pelsmacker, P., Van Tilburg, S., & Holthof, C. (2018). Digital marketing strategies, online reviews and hotel performance. International Journal of Hospitality Management, 72, 47-55. Retrieve from https://repository.uantwerpen.be/docman/irua/5a9d5a/149403_2021_02_04.pdf Retrieved On: 17^th November, 2022

García-Peñalvo, F. J. (2021). Avoiding the dark side of digital transformation in teaching. An institutional reference framework for eLearning in higher education. Sustainability, 13(4), 2023.Retrieved from: https://www.mdpi.com/2071-1050/13/4/2023/pdfRetrieved On: 17^thNovember, 2022

Georgakakis, D., Heyden, M. L., Oehmichen, J. D., &Ekanayake, U. I. (2022). Four decades of CEO–TMT interface research: A review inspired by role theory. The Leadership Quarterly, 33(3), 101354.Retrieved from: https://research.rug.nl/files/228231345/1_s2.0_S1048984318309706_main.pdf Retrieved On: 17^th November, 2022

Jiang, M., Gao, Q., & Zhuang, J. (2021). Reciprocal spreading and debunking processes of online misinformation: A new rumor spreading–debunking model with a case study. Physica A: Statistical Mechanics and its Applications, 565, 125572.Retrieved From: https://par.nsf.gov/servlets/purl/10281363Retrieved On: 17^thNovember, 2022

Kendal, R. L., Boogert, N. J., Rendell, L., Laland, K. N., Webster, M., & Jones, P. L. (2018). Social learning strategies: Bridge-building between fields. Trends in cognitive sciences, 22(7), 651-665. Retrieve from: https://dro.dur.ac.uk/24549/1/24549.pdf Retrieved On: 17^th November, 2022

Klofsten, M., Fayolle, A., Guerrero, M., Mian, S., Urbano, D., & Wright, M. (2019). The entrepreneurial university as driver for economic growth and social change-Key strategic challenges. Technological Forecasting and Social Change, 141, 149-158. Retrieve from http://nrl.northumbria.ac.uk/id/eprint/38280/1/TFSC_Klofsten%20et%20al_.pdf Retrieved On: 17^th November, 2022

Liu, J., Ye, G., Potgieser, H. G., Koopmans, M., Sami, S., Nugraha, M. I., ...&Koster, L. J. A. (2021). Amphipathic Side Chain of a Conjugated Polymer Optimizes Dopant Location toward Efficient N‐Type Organic Thermoelectrics. Advanced Materials, 33(4), 2006694.Retrieved from: https://onlinelibrary.wiley.com/doi/pdf/10.1002/adma.202006694 Retrieved On: 17^thNovember, 2022

Olhager, J., &Feldmann, A. (2022). Linking plant roles and operations strategy decision-making autonomy in international manufacturing networks. International Journal of Production Research, 60(1), 242-255.Retrieved from: https://www.tandfonline.com/doi/pdf/10.1080/00207543.2021.1991026Retrieved On: 17^thNovember, 2022

Pham, N. T., Tučková, Z., & Jabbour, C. J. C. (2019). Greening the hospitality industry: How do green human resource management practices influence organizational citizenship behavior in hotels? A mixed-methods study. Tourism Management, 72, 386-399. Retrieve from: https://e-tarjome.com/storage/panel/fileuploads/2019-08-19/1566214125_E12569-e-tarjome.pdf Retrieved On: 17^th November, 2022

Porfírio, J. A., Carrilho, T., Felício, J. A., &Jardim, J. (2021). Leadership characteristics and digital transformation. Journal of Business Research, 124, 610-619.Retrieved from: https://www.academia.edu/download/65619375/Leadership_characteristics_and_digital_transformation.pdfRetrieved On: 17^thNovember, 2022

Rabe, H., Gyte, G. M., Díaz‐Rossello, J. L., & Duley, L. (2019). Effect of timing of umbilical cord clamping and other strategies to influence placental transfusion at preterm birth on maternal and infant outcomes. Cochrane Database of Systematic Reviews, (9). Retrieve from: https://www.cochranelibrary.com/cdsr/doi/10.1002/14651858.CD003248.pub4/pdf/full Retrieved On: 17^th November, 2022

Rachinger, M., Rauter, R., Müller, C., Vorraber, W., & Schirgi, E. (2018). Digitalization and its influence on business model innovation. Journal of Manufacturing Technology Management. Retrieve from https://www.emerald.com/insight/content/doi/10.1108/JMTM-01-2018-0020/full/pdf Retrieved On: 17^th November, 2022

Scaglioni, S., De Cosmi, V., Ciappolino, V., Parazzini, F., Brambilla, P., & Agostoni, C. (2018). Factors influencing children’s eating behaviours. Nutrients, 10(6), 706. Retrieve from https://www.mdpi.com/2072-6643/10/6/706/pdf Retrieved On: 17^th November, 2022

Stylos, N., Zwiegelaar, J., &Buhalis, D. (2021). Big data empowered agility for dynamic, volatile, and time-sensitive service industries: the case of tourism sector. International Journal of Contemporary Hospitality Management. Retrieved From: http://eprints.bournemouth.ac.uk/35221/1/Big%20data%20and%20Agility%20Volatile%20sensitive%20industries_Stylos%2C%20Zwiegelaar%2C%20Buhalis%202021.pdfRetrieved On: 17^thNovember, 2022

Van Lierop, D., Badami, M. G., & El-Geneidy, A. M. (2018). What influences satisfaction and loyalty in public transport? A review of the literature. Transport Reviews, 38(1), 52-72. Retrieve from https://escholarship.mcgill.ca/downloads/c821gq34v Retrieved On: 17^th November, 2022

Websites

Wesfarmers.com.au, 2022 Statistical data [Online] Retrieve from: https://www.wesfarmers.com.au/who-we-are/the-wesfarmers-way Retrieved On: 17^th November, 2022

Statista.com, 2022 Revenue of Wesfarmers [Online] Retrieve from: https://www.statista.com/statistics/1006928/revenue-wesfarmers-group-continuing-operations-australia/ Retrieved On: 17^th November, 2022

Statista.com, 2022 Profit of Wesfarmers [Online] Retrieve from: https://cdn.statcdn.com/Statistic/1005000/1006987-blank-754.png Retrieved On: 17^th November, 2022