Strategic management accounting
Submit date: 13/10/2010
Group number: 17
Tables of content
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External and Internal environment
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Current competitive strategies
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Recommendations and practice
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In this assignment, it analyse the current competitive strtegies of Coles Company through four aspects: cut price, quality control and product, cut down expenditure on operation and market innovation. It also find the strtegic management accounting techniques which suits the company’s operation can help the company be in the dominant position. It get the conclusion that the most improtant sources for Coles Company is their customers. In the competitive market, enterprises enterprises dominant other competitors and should be more attractive for customers than its competitors. Coles should pay more attention to advance on customer service in the future and a better understanding of customers’ profitability is imperative for survival.
Coles has a rich history with more than 90 years which is founded by George James Coles.
Coles supermarket is an Australian supermarket chain owned by Wesfarmers which has the second largest market share.
Coles becomes the leader in Australian food retailing with more than 690 stores nationally, 100,000 employees and over 11 million customer transactions a week.
The analysis of the Coles Company’s external and internal environment is from the four factors: political factor, economic factor, social factor and technological factor and its strengths, weakness, opportunities and treats.
The assignment use these four aspects: cut price, quality control and quality product, cut down expenditure on operation and market innovation to analysis the current competitive strategy of Coles Company.
The assignment recommends that Coles should pay more attention on their customers and the customer probillity analysis should be used by Coles Company.
Coles has a rich history with more than 90 years. It was founded by George James( G.J.) Coles when what was called the “Coles Varity Store’ opened on 9 April 1914 in Smith Street in the Melbourne suburb of Collingwood. By 1973, it already achieved its aim of establishing a supermarket in every Australian capital city. In 1991 the stores were rebranded Coles Supermarkets and form 1998 simply as Coles. In August 2007, Coles was purchased by Wesfarmers company for AU$22 billions. In February 2008, Wesfarmers appointed UK retailer lan Mcleod as managing director of Coles Supermarkets plus liquor, fuel and convenience business. Mcleod’s previously headed UK car parts and cycle retailer Halfords and gained supermarket experience with Asda and Wal-Mart. Nowadays, Coles becomes the leader in Australian food retailing, with more than 690 stores nationally, 100,000 employees and over 11 million customer transactions a week. Coles also has the second largest market share which is approximately 35% of the Australian grocery and liquor market behind Woolworths supermarket who control 40% of these. Coles was famous for their slogan ‘Nothing over 2/6’and regarded as leaders in proving value to the shoppers of Australia. From 1980s to 2010, Coles is often changing their slogan to attract the customer. Now Coles launched a new slogan, ‘Down Down, Prices Are Down’ featuring a large red cartoon hand pointing downwards to symbolize the chain’s low price policy.
The aim of this assignment is to do the strategic analysis of Coles supermarket and then from this analysis to find the best strategic that the Coles supermarket adopt and recommend the strategic management accounting techniques that assist the company in achieving its current and future strategic goals.
This assignment will analyse the external and internal environment of Coles from four...
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