Discuss how company abc can address these challenges

Reference no: EM133696303

Self-Reflection Exercise:

Part 1 (Referring to class discussion in session 6 part 1)

These questions below provide a detailed framework for studying Wesfarmers Corporation and its approach to evaluating its diversified strategy in the Australian market.

Answer the questions below related to Wesfarmers and its diversified strategy:

Industry Attractiveness Assessment:
a. What are the key industries Wesfarmers has diversified into, and what factors contribute to the attractiveness of these industries in the Australian market?
b. How does Wesfarmers evaluate industry attractiveness when considering diversification opportunities?
c. Can you identify any recent trends or developments in the industries Wesfarmers operates in that may impact its strategic decisions?

Business Unit Competitiveness Analysis:
a. How does Wesfarmers assess the competitive strength of its various business units, such as Coles supermarkets and Bunnings Warehouse?
b. What specific metrics or performance indicators does Wesfarmers use to measure the competitiveness of each business unit?
c. Can you provide examples of how Wesfarmers has demonstrated competitive advantage within its diversified portfolio?

Cross-Business Strategic Fit Evaluation:
a. Describe how Wesfarmers identifies opportunities for cross-business strategic fit among its diverse operations.
b. What types of synergies does Wesfarmers leverage between its different business units, and how does this contribute to overall corporate performance?
c. Can you identify any challenges or obstacles Wesfarmers may face in achieving cross-business strategic fit, and how does the company address them?

Resource Alignment Check:
a. How does Wesfarmers ensure that its resources align with the requirements of its diversified business lineup?
b. What types of resources does Wesfarmers allocate to support the operations of its various business units?
c. Can you provide examples of how Wesfarmers optimizes its resource allocation to maximize efficiency and effectiveness across its diversified portfolio?

Business Unit Performance Ranking:
a. How does Wesfarmers rank the performance of its business units, and what criteria are used for evaluation?
b. Can you identify any recent performance trends or notable achievements within Wesfarmers' diversified business units?
c. How does Wesfarmers use performance ranking to inform resource allocation and strategic decision-making across its diversified portfolio?

Strategic Moves Crafting:
a. Describe the process by which Wesfarmers crafts new strategic moves to improve overall corporate performance.
b. What factors does Wesfarmers consider when identifying growth opportunities and addressing challenges within its diversified portfolio?
c. Can you provide examples of recent strategic initiatives or decisions made by Wesfarmers to enhance its competitive position and drive long-term success?

Part 2

Self-Reflection Exercise:

Reflect on the significance of linking strategy, ethics, and social responsibility in business. Consider the ethical duties of firms to stakeholders, drivers of unethical behaviors, and the business case for ethical strategies. Evaluate the implications of different schools of thought on business ethics and the importance of crafting socially responsible and sustainable business practices.

Case Study:
Company ABC is a multinational corporation operating in various countries. It has recently faced allegations of unethical conduct, including environmental violations, labor exploitation, and disregard for local laws and customs. The company's reputation has suffered, leading to decreased consumer trust and investor concerns.

Based on the lectures, discuss how Company ABC can address these challenges and promote ethical behavior and social responsibility within its operations.

Reference no: EM133696303

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