An overview of the farmers co-operative - Free Essay Example

Sample details Pages: 4 Words: 1238 Downloads: 3 Date added: 2017/06/26 Category Economics Essay Type Analytical essay Did you like this example? Founded in June 1914 as a farmers  co-operative with the major function in providing services and agricultural merchandise to Western Australias rural community, Wesfamers started the road to diversification since 1950s with the pioneered program of distributing liquefied petroleum gas. Then continued to move into fertilizer production and distribution in 1984, coal mining  in 1989, launched insurance business in 1991, also hardware and forest products one in 1994, became a supplier of home improvement, building, industrial and safety products in 2001 and especially got in the retail section by 2007. During the period to penetrate many diversified fields was the transformation in terms of the size and shape of its business operations through strategic acquisitions and divestments.[1] Wesfarmers now becomes a leading public company in Australia with the operation in many various businesses including retailing, insurance, industrial, energy[2] and more detailed in wh ich are supermarkets, department stores, home improvement and office supplies, coal mining, energy, insurance, chemicals and fertilizers, industrial and safety products.[3] The business of Wesfamers is divided into two main segments. Don’t waste time! Our writers will create an original "An overview of the farmers co-operative" essay for you Create order The Retail segment comprises of four divisions in which are Coles, Home Improvement and Office Supplies, Target, Kmart. The remaining is the Industrial and Other Businesses one with five divisions included, those are Resources, Insurance, Chemicals Energy and Fertilizers, Industrial and Safety, Other activities. And following these divisions business activities is the presentation of about thirty three famous brands not only in Australia but in New Zealand as well.[4] Wesfamers always has the policy of developing a unique, highly-focused and disciplined working culture in its business through adhering to four core values: integrity, openness, accountability and boldness.[5] The company, today, not only maintains its primary and long priority, which is the provision of satisfactory returns to the shareholders set in 1986, but also aims to manage various factors that contribute to a sustainable community and society. But beyond focusing on five key principles and actions: the impor tance of people, carbon emissions reduction and energy management, community investment, the reduced overall environmental footprint, the strong economic contribution that their results will drive the companys business to the success in a broader and more complex commercial environment.[6] Business The business of Wesfamers is currently divided into two segments with nine divisions and thirty three brands included. Inside, the Retail segment comprises of the Coles divisions, a food, liquor and convenience retailer; Home Improvement and Office Supplies, a retailer of home improvement, outdoor living and office products, also a supplier of building materials; Target, a destination for fashionable clothing and housewares; and Kmart, a discount department store retailer and a retail automotive service, repair and tyre businessman as well. The Industrial and Other Businesses segment includes the Resources division which operates in coal mine exploiting and producing; Insurance, in insurance underwriting and broking operations; Chemical Energy and Fertilizers in supplying chemicals, energy, fertilizers and related services; Industrial and Safety, in supplying industrial and safety products and services; and Other activities with some activity such as becoming the ultimate holdi ng company for some Australias company in investment advisory, warehouse  business†¦[9] As mentioned in the introduction part, Wesfarmers, which is a public company and operates in many various sections, has the scope of business nearly all in Australia and New Zealand. After acquiring Coles Group in 2007, the company started to speed up its investment in the retail market with many diverse kinds of products in which are food, convenient food, liquor, petrol, home building, software, stationery, clothing, home outfit, automobile and the accompanied services. In addition, the company has still invested in the insurance market, the industrial one such as coal mining, chemical, fertilizers, energy, industrial safety and other activities. Strategy As mentioned in the introduction part, Wesfarmers, which is a public company and operates in many various sections, has the scope of business nearly all in Australia and New Zealand. After acquiring Coles Group in 2007, the company started to speed up its investment in the retail market with many diverse kinds of products in which are food, convenient food, liquor, petrol, home building, software, stationery, clothing, home outfit, automobile and the accompanied services. In addition, the company has still invested in the insurance market, the industrial one such as coal mining, chemical, fertilizers, energy, industrial safety and other activities. After nearly 100 years for survival and development, the company is now owning the broad retail network with the potential consumer market across Australia and New Zealand through store, department stores, dealer, supermarkets and websites. Westfamers has become a reputation and credit company by the way to satisfy customers through t he best quality, service and convenience of products also the variety of type and the suitability in price. Together with the staff of talented employees within the sound governance system, the company is step-by-step performing the sustainable development to create extra value which will contribute to shareholders, stakeholders, and communities, also one which is certified by government and population, and one that is used as an advantage for developing the business activities in the future. Vision, Mission and Goal Ever since becoming a listed company in 1984[1], Wesfarmers had stated to pursue its long objective also primary priority as a provision of satisfactory returns to shareholders. That is today be remaining and will continue to remain in the future with the central focus of the whole companys effort. Besides, Wesfarmers also wants to have a reputation as a company which operates according to the highest ethical standards and one which contributes strongly to the communities and society in which the company operates. Especially over and above the benefit, Wesfamers aims to create value in the sustained and responsible way[7]. In order to provide satisfactory returns to shareholders, Wesfamers has set the goal for the development of a unique, highly-focused and disciplined working culture in its business through adhering to integrity, openness, accountability and boldness[5]. Simultaneously, providing value to shareholders, customers, employees, suppliers and community partners base d on ensuring the strong economic, environmental and social performance also the sound governance framework that their contributions will drive the companys business to the success in a broad and complex society[7]. Moreover, Wesfamers also aims to the national reconciliation with Aboriginal people as a way to enhance the importance and equality of people[8]. Wesfamers believes that the accomplishment of the goals must focus on the following key principles and actions: Maintaining and enhancing the physical environment in which the company operates including strategies to minimize carbon missions, improve water and energy efficiencies and minimize commercial by-products and waste. Providing a safe and secure work environment for all employees, customers and stakeholders. Treating stakeholders including employees, customers, shareholders, suppliers and the broader community with respect and decency. Investing in the community through partnerships, programs and sponsors hips over and above the direct economic and commercial benefits Wesfarmers provides. Acting in accordance with high ethical standards[7]. 1. Company history. About us. The Wesfamers company. Retrieved from https://www.wesfarmers.com.au/about-us/company-history.html 2. Wikipedia. Retrieve form https://en.wikipedia.org/wiki/Wesfarmers#Further_reading 3. Home . The Wesfamers company. Retrieved from https://www.wesfarmers.com.au/ 4. Company structure. About us. The Wesfamers company. Retrieved from https://www.wesfarmers.com.au/about-us/company-structure.html 5. Company Value. About us. The Wesfamers company. Retrieved from https://www.wesfarmers.com.au/about-us/company-values.html 6. Home. Investors. Reports. The Wesfamers company . Retrieved from https://media.corporate-ir.net/Media_Files/IROL/14/144042/Wesfarmers/WES/index.html 7. Retrieved from 2010 Share holder review.pdf 8. Retrieved from 2011 Reconciliation action plan.pdf 9. Retrieved from 2010 A nnual report.pdf