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Running Head: ASSESSMENT 21 ASSESSMENT 22 ASSESSMENT 2: VIDEO PRESENTATION & WRITTEN SUMMARY Table of Contents Introduction3 Managerial Practice of an Organisation3 Options and Solutions to the Issues Arising5 Conclusion8 References9 Introduction Managerial practice is generally stated as the methods of innovation and working that is used by the managers to enhance the effectiveness of the working system. It is the process slightly used for the formal development in order to guide the direction and actions of entrepreneur while influencing the people behaviour. The current report will outline the case of managerial practice in an organisation named as Woolworth group limited, which is an Australian company that has the extensive retail interest throughout Australia and New Zealand. It will seek address to the discussion of managerial practices in company while explaining the problems and solutions. Managerial Practice of an Organisation The company is using the managerial practice by ensuring that the company are using the incentive programs for their workers is a bonus or commissions so that they can retain them for the longer span of time. It is a gesture given by the company in order to engage them with a grateful aspect for doing the job. The operation of the company is also the most important thing that is under covered by the product knowledge. The company is required to know everything about product whether it was how to play the game about selling and how the luxury product is made of the materials (Pachura, 2019). Currently they are posing a limitation on the purchase limit of the items that is hand sanitiser and toilet paper across its Victorian stores. The restoration of limitations on some classifications will just applicable in Victoria, where there have been early signs of a consumption boom. They will also apply to orders placed online. Apart from Victoria, there seem to be currently no commercial restrictions in effect. This can highly affect the success of the organisation and could lead to the negative point in the perception of the consumers. The major reason the company is engaging with unprecedented and complex brew of social, market, environment and trends of technology. Executives, on the other hand, often frequently hesitant to make sustainable development a priority in one‘s strategic planning process, mistakenly believing that the amount is required the advantages. Present study and corporate judgment, on the other hand, suggest the exact opposite (Muller, 2019). However, to mitigate these negative operations the company is indulged into various aspects to ensure the profitability and productivity of the company. The Company Woolworth retail is ensuring various factors such as embedded sustainability effort clearly result in positive manner on the performance of business. The company is driving the competitive advantage through the engagement of stakeholders. Traditional strategic decisions prioritise shareholders profit creation at the discretion of management (Yang et al., 2019). Sustainability companies are changing the organisational environment by creating models that benefit all stakeholders, notably staff, creditors, supplier chains, society organisations and the environment. The next step taken by Woolworth Company is enhancing the way of fostering innovation to ensure the glorious ride for the customers throughout the organisation. The company is using the tool of sustainability in order to invest in innovation techniques. Redesigning the standards of environment will help the organisation to fulfil all the social links that are offered by the new opportunities of business. For instance, the company can integrate the sustainability into its invasion pipeline, through which they can proactively reduce the pollution and waste problems through product-formulation process modification and redesigning the equipment (Nelson & Hjalmarson, 2019). The company has embedded into the sustainability into the process of innovation and specialising into the yarn system while generating large profit margin and with the requirement of minimal labour. Their cutting-edge technology has improved production and quality while lowering environmental effects and prices and raising international standing. The company is also utilising the managerial practice in order to enhance the financial performance. There are enormous perceptions made by the business leaders that one can have sustainability or profits but not both. The company needs to change this myth about the sustainability and prophets because they are probably in the roots of influencing the business with a high price and environmental product and not failing in the marketplace easily. Organisations are experiencing significant economic benefits through system has been developed process excellence, in addition to the financial gains that result from increased competitiveness and creativity, as previously stated. Options and Solutions to the Issues Arising · How plastic use is affecting the Woolworth Company? · Why there is limitation on using biasness to protect the rights of employees as ethical value? The answers to these questions could be given in the terms of sustainability. In the Woolworths group amidst to covid-19, 70% of the Australians are continuing to rank taking care of planet and making the group sustainable because it becomes important for them when they are using such products (Isbanner, 2021). Customers are looking forward to embrace the future and making it more greener and therefore you will work has introduced a number of initiatives to reduce the plastic across the wide range of vegetables and fruit involving tomatoes, carrots, broccoli, organic Apple and sweet potatoes. According to the above picture, it is analysed that Woolworths has also comments the trial of where it will switch to the packaging of plastic in its popular Fresh Food kids range of a bananas and enhancing the use of easy to recycle cardboard boxes. It is stated by the CEO of the company that something that was very surprising amidst COVID there was the continued relevance of the environment and it is also experienced by 70% of the Australian saying. They will remain in this situation and in this crisis in order to make the sustainable choices. It accelerates the path to a better tomorrow when the wastes are diverted from the landfill. Plastics-using strategy that ensures has a crucial function in altering this unsustainable trend (Chasse, 2018). Consumers have already been protesting with their feet, boycotting firms that do not reduce their usage of biodegradable materials, according to the retail market. There are various options for these questions while stating the fact that the company can start developing compostable packaging using these fungal mycelium and waste organic material. The packaging can be used and shaped for shipping the goods of higher value. It is including sustainability in the business model and ethical values so that they cannot harm the sentiments of local communities when it comes to the alternatives of plastic. It is said to be critical when it comes to entrepreneurship and innovation. Surely, it is precisely the domain, where most of the companies should shine (Lee, 2020). It is recommended that the companies should use the ethical approach because it requires them to maintain the objectivity of the company vend interpret and design some research about the sustainability. The problem remains unchanged an unrecognised in its detrimental effects on validity and reliability of the research. The company should also maintain the professional ethics, which is stated as the right for an employee. It is generally considered that employees are an asset of an organisation and any organisation that is involved in any ethical way would like it workers to be prosperous and happy by providing them corporate working culture and steady work. They also want them to give the healthy work-life balance in order to maintain the productivity and profitability while attaining success in an organisation. Inflation in price is also considered as an issue, which states that a customer having to pay more and more for their daily products, which makes their income list, is possible and now they are likely to cut off their budget for the luxury products. The industry of retail is struggling to deal with the higher costs, which are likely to rise and the solution that is given for this issue is proper automation of task and process and planning, which could result in optimisation of operations, higher customer satisfaction rate and better cost control (Ruiz-Real, Uribe-Toril, Gazquez-Abad & de Pablo Valenciano, 2019). They should consider their logistics of supply chain and evaluate the other options in the marketplace in order to enhance the results. When it comes to the sustainability, the company is dealing with reducing the plastic use. It is analysed that the generation of young persons are becoming increasingly demanding of having a transparency degree with regard to the ethical practices of the commodity that they are purchasing. This makes the consumer more conscious, when there is a certain change in the retail industry, as the brand must be more environmentally politically and socially conscious. This has a huge impact on the daily running of operations The Company should be committed to being a source of good life for the environmental sphere in order to help clients meet its objective. Conclusion It is concluded from the above report that there are various managerial practices involved in an organisation however the major factors that could impact the financial performance innovation engaging with some social and technological trends in the company. Regardless from the practices, there are various issues and questions raised in order to see the influence of solutions such as reducing the use of plastic, involving into the ethical practices, which is effective for the employees and engaging them with the corporate culture. References Chasse, C. (2018). Evaluation of legal strategies for the reduction of plastic bag consumption Isbanner, S. (2021). The impact of the Australian single-use plastic bag phase out on attitudes, social norms, perceived behavioural control and spill over behaviour–implications from a longitudinal trend study Lee, S. H. (2020). Achieving corporate sustainability performance: The influence of corporate ethical value, and leader-member exchange on employee behaviours and organizational performance. Fashion and Textiles, 7, 1-17 Muller, M. (2019). What are existential disruptions in managerial practice? Overcoming disruptions as preventions of burnout. KNOWCON, 181-187 Nelson, J. K., & Hjalmarson, M. (2019). Insights into the Nature of Change and Sustainability in an Ongoing Faculty Development Effort. In 2019 ASEE Annual Conference & Exposition Pachura, P. (2019). Space in Organisation and Management. Interdisciplinary Perspective in Modelling Towards New Managerial Roles. Economics and Management, 22(3), 36-50 Ruiz-Real, J. L., Uribe-Toril, J., Gazquez-Abad, J. C., & de Pablo Valenciano, J. (2019). Sustainability and retail: analysis of global research. Sustainability, 11(1), 14 Yang, D., Zhang, L., Wu, Y., Guo, S., Zhang, H., & Xiao, L. (2019). A sustainability analysis on retailer’s sales effort in a closed-loop supply chain. Sustainability, 11(1), 8