The Global Social and Enviremental Opportunities and Risks Facing Essay

The Global Social and Enviremental Opportunities and Risks Facing Woolworths - Essay Example On a global front, Woolworths needs to keep identifying risks and prospects that keep emerging as well as those already in existent. A noteworthy characteristic of the retail industry that Woolworths face is the rising intensity of competition and domination by few companies (Seth & Randall 2001). Therefore, accurate evaluation of social and environmental opportunities and risks is very critical to enable the company to adopt apposite strategic measures. Understanding of these opportunities and risks helps in establishment of effective growth policies and expansion plans or in a more threatening environment measures that pre-eminently upholds the current position or if need be, allows pull-out from markets. Understanding of future opportunities and risks also helps toshape how the management base their strategic decisions. This is because they need to balance and in consideration of other factors, they determine a realistic and sustainable direction to the retail business. Opportunit ies and risk analysis enables a retail chain, such as Woolworths, to identify the global markets and areas that are viable to open up new ventures and how exactly to take care of the needs of the clientele (Richardson & Williams 1995). In addition, they determine the allocation of resources.Opportunities and risks can be in any aspect of the company. They can be in skills and abilities of the employees, location and environment of operation, products and branding, financial and informational management. Social Opportunities and Risks One of the most noteworthy social opportunities is the global Woolworths Trust EduPlant programme (Burch & Lawrence, 2007). In collaboration with other organizations and educational institutions in several countries, for instance South Africa the programme sponsors and funds educational institutions in the growing of healthy foods in a sustainable system (Burch & Lawrence 2007, p 24). For over the last ten years, EduPlant programme has supported thousan ds of educational institutions to boost food security in the societies and to improve the nutrition of their students (Burch & Lawrence 2007, p 24). The programme runs annually and begins with an invitation to various stakeholders in the education sector to go for one day all-expense paid permaculture training.Those who are trained on various permaculture techniques become food security campaigners in their societies. They are then sponsored to grow food gardens that produce much-needed food for the schools within the communities. Land portions within the schools are converted into healthy greened environments and the trained educators are empoweredto share their permaculture skills with other members of the community (Burch & Lawrence, 2007). After the learning institutions have grown their gardens, they register them into a national competition. They continue to get support and guidance from trained permaculture specialists who visit the institutions and finally choose 63 finalist s. All selected finalist institutions are awarded with cash rewards and environmental, health and agricultural resources. Further rewards- in both cash and resources are given to the winners of various other categories. This programme is a great opportunity to market and promote Woolworths and make it a great brand name across all generations as well as boost its corporate social responsibility regarding