Comparison Woolworths and BHP Billiton, Essay Example

Introduction

This paper aims to compare the S.M.A.R.T goals of two companies which are Woolworths Limited and BHP Billiton. We will first start with the small introduction of smart goals with respect to the organizations. After that we will be describe the backgrounds of the mentioned companies (Meyer’s ,2011). Then we will provide their mission or vision statement, and to describe that what are their values and also their social responsibilities. Once all this will be cleared than we will talk about their stakeholders by comparing their smart objectives and goals. In the last we will sum up the data under the heading of conclusion .

When we talk about corporate life, to set the smart goals is the most effective tools in achieving objectives and goals. Once the organizations charted to outlines the project then it’s time to make specific goals. With this SMART checklist organization can easily evaluate the objectives (Bovend, Botell, & Wade, 2009). A SMART goal must be Specific, measurable, achievable, realistic and timely. This clarifies the path where goals came to be existed (Bowles et al., 2007).

Background of Woolworths Limited

 Woolworths Limited is an Australian company which was established in 1924 in Sydney. They manage most trusted and recognized brands of Australia. Their believe is to create the best experience for the consumer in all of their platforms and stores (Bovend, Botell, & Wade, 2009). It is basically the chain which consists supermarkets and petrol, masters home improvement, hotels, they also have the financial services, group of liquors and more. They started with fresh food stores and now they have grown their names in households which are present in every regional and metropolitan centre not just in Australia but in New Zealand also (Bowles et al., 2007).

 Initially they set their SMART goals in such a way by keeping consumers requirement on their minds. They started implementing the smart objectives once they get to know about their values. They take care of their people, give value to their suppliers and also respect the communities which they serve. Their SMART goals are specific to all those who are working in this organization, they have clearly provided their visions (Meyer’s, 2011). They know what to achieve and how to achieve and they also plan to work in a timely manner.

Background of BHP Billiton

BHP Billiton is the leading resources company their purpose is to build long term and strong shareholder value through development, acquisition, marketing and discovery of natural resources. They are the world’s largest manufacturers of major commodities which includes coal, aluminum, iron ore, copper, nickel, silver and have significant interests in gas and oil. They provide the high quality in order to meet the diversifying needs of the customers (Bovend, Botell, & Wade, 2009).

They believe to work under the vision of the company and to proper follow the strategies in order to meet the desired SMART goals and objectives. Their trust, openness, diversity reflects the core value of the company. Their aim is to build loyalty and pride in their workforce (Bowles et al., 2007).

Vision & Mission Statement of Woolworths Limited

Woolworths mission and their main strategy focuses on to deliver the consumers the right experience of shopping each and every time. Their vision is to deliver quality services and products to their customers through their pricing strategies, human resource strategies and fresh food strategies (Bovend, Botell, & Wade, 2009). Their strategy is to increase the efficiency and to be cost effective. To attain this Woolworth’s has implemented many strategies which contains project refresh strategy and every day low price strategy. Its organizational structure, stakeholders and staff leaderships they all play vital role implementing the smart goals and objectives (Meyer’s, 2011).

Vision & Mission Statement of BHP Billiton

 As its very important for the company to set the visions or missions when implementing the strategies. And when strategies are clarified than its easy to set the SMART objectives, then to implement it thereafter. BHP Billiton’s mission is to create feasible value for the shareholders, contractors, supplies, customers, employees and business partners. Their environment and communities strive hard to gain leading industry practice. Their strategy is to operate and own large, low cost, long life, upstream assets, expandable diversified by geography, market and commodity (Bowles et al., 2007). Their mission is the most important source through this they can communicate that who are they, what they do and where they stand.

Comparison of S.M.A.R.T Goals of both companies.

 As we understood the nature of both the companies now we can easily compare these two with rest to SMART goals (Bovend, Botell, & Wade, 2009). Here implementing these SMART goals in these two companies are different. As Woolworths are more focused towards their consumers, prices, strategies so they will set the goals which provides them benefits. They will prefer and learns the consumers needs and understand their psychology. Once they get to know about their customers desires they can easily implement the targets (Bowles et al., 2007).

Considering BHP Billions view their goals will be different, their purposes actions and strategies towards achieving SMART goals are different comparing to the Woolworths. They give priority to safety and health first and their charters tells to support their communities (Meyer’s, 2011). So they will be more focused towards what their organization needs and what should do to keep the strength of the organization active.

Value of Woolworths Limited

Today Woolworths limited is considered as the best business value for shoppers. They feel pride working with suppliers as they bring up the best and qualitative products for the consumers at the best and reasonable price. It is today a South African retail chain which extends from franchise partnerships all over the Africa and in the Middle East. Their SMART goals and objectives make them to trade more than 400 outlets. Their implementing of smart goals influence to extend the majority shares in the retail chain in Australia (Bowles et al., 2007). Their value is to provide fair and simple deal to the customers and to allow consumers to get the maximum benefits from their different packages.

Value of BHP Billiton

An organization must know about their values as it is important while setting up the SMART objectives and goals. BHP Billiton’s core value is to do what is right and to do what they say they will do. They believe in performance of the organization by achieving higher ranking results through stretching and enhancing the capabilities. They also focus the efforts of organization which matters the most (Bovend, Botell, & Wade, 2009). They work under teamwork, trust and believe in openness of the environment. It is company’s duty to put safety and health first as it is mandatory to support their communities. And the last important value is to accept and to clearly define the responsibilities to the employees and also to deliver the commitments as promised (Bowles et al., 2007).

Woolworths Limited’s Social Responsibility/ Sustainability

Woolworths limited who works on the SMART goals which also helps them to maintain the social responsibilities. As their employees are committed to maintain and to implement effective corporate social responsibility program which help the environmental and social responsibilities in their daily operations. They accept their responsibility in order to fulfill long term growth and sustainability (Meyer’s, 2011). They devote the maximum amount of resources and energy to get the sustainable development in the surroundings of changing in environmental and social needs (Bowles et al., 2007). SMART goals produce the sustainability reports other than annual reports so as to analyze where they are stand and where they should move and what procedures should be adapted.

BHP Billiton’s Social Responsibility

In organizations social responsibility is that how company manages the process of business producing the positive impact on society. In BHP Billiton which is the world’s largest company when we measure on market capitalization (Bowles et al., 2007). It is actively involved in social responsibility as they introduce the community programs which are managed at four levels in the company i.e. local, regional, national, provincial and global. The main part of their efforts occur locally at their operations where their businesses apply programs to support and to develop the communities which are close to them. When the SMART goals are clearly explained, described, discussed and justified then the organizations can be more reliable in sustainability with reference to the relations with the employees. They should justify the strategies which can be used as an ethical global business (Bovend, Botell, & Wade, 2009).

Stakeholders of Woolworths Limited

By setting the SMART goals and objectives they have simple philosophy of signifying leadership by doing the right thing for the organizations. Their stakeholders create a positive impact in the businesses (Bowles et al., 2007). Woolworths first set their targets and in accordance to achieve the targets they follow the smart goals. They set their capital structure with the smart objectives to enhance the long term stakeholders value by upgrading their weighted average cost (Meyer’s, 2011). With this objective they have achieved the target and maintained the strong investment grading. In 2012 they contributed nearly $36.6m in their communities which includes $8.6 million cash, $3.2 million  in-kind, $14.8 million  leverage and $10.0 million staff and management time.

Stakeholders of BHP Billiton

As it is the responsibility of company to operate and to engage regularly, honestly and openly with the people who are interested  and also to who are affected by the operations and to take the concerns and views in decision making (Bovend, Botell, & Wade, 2009). Their sustainability report discuss the issue of significance to their stakeholders. At the start of FY2013 health, environment, safety and community targets were introduced (Meyer’s, 2011). These targets help them to be focused and to improve the performance by considering the company’s SMART objectives and to measure the outcomes in the areas which most to the stakeholders and to the businesses (Bowles et al., 2007).

Conclusion

The above research shows that all the organizations should need to set up the goals and objectives before implementing strategies. The visions or the missions should be clearly stated to the employees (Bowles et al., 2007). As we have studied that these two organizations were having entirely different nature but they still have to focused towards the SMART goals which helped them in achieving the targets (Bovend, Botell, & Wade, 2009). Once the organization is on a high chart than ultimately number of shareholders will increase which not just benefits the wealth of organizations but also make it reputable and renowned in this competitive market.

References

Bovend’Eerdt, T. J., Botell, R. E., & Wade, D. T. (2009). Writing SMART rehabilitation goals and achieving goal attainment scaling: a practical guide. Clinical rehabilitation, 23(4), 352-361.

Bowles, S., Cunningham, C. J., De La Rosa, G. M., & Picano, J. (2007). Coaching leaders in middle and executive management: Goals, performance, buy-in. Leadership & Organization Development Journal, 28(5), 388-408.

Meyer’s, F. P. J., & is Everything, A. (2011). Creating SMART goals.