Global Strategy for Westfield- MyAssignmenthelp.com

Question: Discuss about theGlobal Strategy for Westfield. Answer: Introduction The current report elucidates in detail the international business strategy and leadership with special reference to the operations of Westfield, an Australian shopping centre. This current report expounds illustratively the strategies indicates towards the plans that can guide commercial transactions that are taking place between different business entities in different nations. The first section of the study identifies the business strategy selected by the firm Westfield from among different schemes of the Porters generic strategies. In addition to this, the current segment also carries out a detailed analysis of the business environment of the firm using SWOT analysis and thereafter detects the opportunities that the corporation might perhaps pursue for enhancement of business potential. Moving further, the second section of the study identifies the leaders of the firm Westfield and the leadership capabilities as well as styles that have helped in transforming passion into particu lar action. Subsequently, the study also incorporates feedback from peers as well as instructors that are both specific as well as general on the subject matter under consideration. Strategy Porters Generic Strategies: Westfield Company Westfield adopts differentiation strategy of the Porters Generic Strategies as the company sets out to gain advantage over the rivals through their uniqueness. In case if a corporation can attain as well as maintain leadership, then the company can perform above average in the industry, given it can direct prices and set the industry average (Bharadwaj et al., 2013). The management of the firm Westfield observed the alterations in the businesses of the mall with the introduction of high volume large malls, effects of the worldwide financial crisis as well as development of online platform of businesses alongside physical stores. The management of the firm was aware of the fact that demand is the highest in flagship stores as well as flagship assets. Therefore, the company intends to adopt the differentiation strategy and seek to be exclusive in the current industry along certain dimensions that are extensively valued by different buyers (Rothaermel, 2015). Evaluation of the Organization using SWOT Strength - Strong presence in the market and good brand reputation in the nation Australia - Diversified business portfolio along with labour force of roughly 4000 worldwide - Capability to raise fund swiftly, as both debt as well as equity (Peng, 2016). - The company has a wide geographical presence throughout Australia, United Kingdom, United States, Italy and Croatia - Westfield also has investment portfolios in above 120 shopping centres Weakness - More emphasis on retail properties - The company is not having presence in different developing nations as well as emerging economies (Ferraro Briody, 2017). Threat - Competition from different current players in the industry - Fluctuations in pricesp - Decrease in lease rates of store (Goerzen et al., 2014). Identification of the Opportunities that Westfield can Pursue The opportunities that the corporation Westfield can pursue include acquirement of benefits from joint ventures that can help in establishing market position further. In addition to this, the other opportunities that the company Westfield can pursue include derivation of advantages from acquisitions that in turn can enhance presence in the market (Motohashi, 2015). Furthermore, emerging markets such as Asian nation also prove to be an opportunity that can be utilized for further development of the company as this helps in expansion of the base of the market. The streamlined portfolio of Westfield and the focus of the company on particularly inventiveness can help it to attain better future performance. As such, transformation is deep-seated into the group and has a track record of more than 50-years of responding to different challenges and acclimatizing to specific opportunities. The innovative business operations have helped the company to split up the continents. This in turn led to the expansion of the business to the United States during 1970s, thereafter to New Zealand in 1990s and the United Kingdom during the period 2000 after the companys initial investment in Australia (Westfield.com.au, 2017). The analysis of the business environment of the corporation Westfield also helped in understanding the opportunity enjoyed by the business by bifurcation of the companys mall business. The bifurcation of the mall business helped the company to particularly identifying the assets with high demand and making profound investments in the same. SWOT analysis helps in identifying the fact that the company enhanced the quality of the portfolio of the firm by emphasizing on flagship properties and eliminating different weaker performing assets of the firm. This is why the company reduced the number of malls in the US from 69 during 2007 down to around 38 malls and operates in two high end centre of retail in particularly London. In addition to this, the company has als o embraced different technologically advanced mechanisms and incorporated social, mobile as well as digital services for their customers, WiFi and GPS-controlled parking along with online or else mobile website for enhancement of scheduled system of pick-upand delivery (Westfield.com.au, 2017). Leadership Identification of Leaders of Project Organization The stability as well as experience of the business corporation Westfield Corporation can be considered to be one of the major reasons behind the success of the corporation. Essentially, a core team of senior executives have served the corporation over the last two decades and have worked towards introduction of new executives as well as Board Directors for meeting the challenges of expansion to different new markets, rise of specifically digital technology and the alterations in retail environment. The chairman of the company Westfield is Mr. Frank P Lowy AC and deputy chairman is Mr Brian M Schwartz Am. The non-executive directors of the company include Mr Roy L Furman, Ms Ilana R Atlas and Jeffrey Goldstein. Michael Gutman is recognized as the Executive Director of the Westfield Corporation (Westfield.com.au, 2017). Assessment of Leadership Capabilities The leadership capabilities that can be identified among the leadership of the firm Westfield include the sense making skills, skills of relating, visioning and inventing. The leaders of the firm essentially know what to do and where to go. They can understand the situation around them, in the firm, in the country as well as in the world and make sense and undertake actions accordingly. The leadership capabilities that can be identified among the leaders include the competence of relating. The leaders relate properly and operate with other individuals in the firm. Again, visioning can be considered to be another leadership capability that can be seen among the leaders of the firm. This is why the leaders such as Frank Lowy predicted the future of the retail in particularly retail malls that in turn led to the development of Westfield Group (Westfield.com.au, 2017). This refers to the capacity of the leaders to produce, depict an image of what it can be and what is essentially possibl e. In addition to this, the leadership capabilities of the leaders also include the capability to invent. For instance, the leader Don Kingborough (executive director) pioneered particularly the gift card market. The leaders in this firm produce structures as well as processes, transform the ways individuals function together in order to move ahead towards the companys vision (Kurt Zehir, 2016). This is why the leaders of the firm developed strategy to enhance the overall portfolio quality over a specific period of time by specifically concentrating on flagship properties and alleviating different weaker performing assets (Hill et al., 2013). Description of the Leadership Style The leaders of the firm Westfield essentially follow the transformational leadership style. The leaders of the firm necessarily operates with different sub ordinates of the firm in order to identify the required changes, generating a vision that can help in guiding the alterations by means of inspiration and execution of the transformation in tandem with the dedicated members of the business team (Verbeke, 2013). Furthermore, transformational leadership also serves to augment the motivation, morale as well as performance of the followers by means of varied mechanisms. The transformation style of leadership of the firm helped the company to become a vertically integrated framework and stay at the forefront of embracing new technology. This style of the leadership helped in integration of social, mobile along with digital services for different customers into particularly the shopping experience (Cavusgil et al., 2014). The transformational style of leadership also help in undertaking different innovative pilot programs for instance Dine on Time, bike delivery, mobile website for pre determined time for pick up and many others established at different centres of the firm (Westfield.com.au, 2017). The management of the firm under the supervision of the leaders streamlined diverse portfolio and provided attention to inventiveness for potential performance. The transformational leadership style also demonstrated a capability to maximize the value with specific strategies customized to the respective companys portfolio, strengthen the portfolio of malls as well as pilot innovative use of technology to augment experience of the shoppers (Westfield.com.au, 2017). Feedback Based on the standpoint of peers as well as instructors, it can be said that in general the competitive strategies explains the schemes that a business can adopt for attainment of the organizational objectives. Thereafter, this feedback from different market analysts helps in gaining overview regarding the fact that the company focuses on the differentiation strategy adopted by Westfield that is in line with the objective of the firm to emphasize on flagship stores in essentially flagship assets. Moving further, this study presents a SWOT analysis for evaluation of business environment in which Westfield operates. Each of four components of the SWOT analysis that is the strength, weakness, opportunity and threat helps in detecting and analysing the internal as well as external factors that can have an influence on the overall feasibility of projects, different products/services, places or else person (Motohashi, 2015). The SWOT analysis thereby helps in developing the strategic plan for the firm and identification of opportunities that the management of the corporation might take into account and provide a justification for the strategic choices. Thereafter, the study detects the leaders of the organization Westfield and their leadership capabilities that have helped the corporation to achieve its objectives. Analysis of the leadership of the firm Westfield reveals the fact that the transformational style of leadership is practised that help in undertaking different innovative pilot programs, splitting up of business in different continents, bifurcation in particularly the mall operation and implementation of technologically advanced systems (Behn, 2014). In addition to this, the leadership capabilities of the firm have also assisted to firm to acquire adaptability that in turn has permitted the company to yield profit despite several challenges/difficulties to retailers. Conclusion The above mentioned study helps in gaining comprehensive understanding as regards international business strategy with special orientation to the operations of Westfield. This study helps in gaining deep insight regarding the plans as well as actions that are undertaken by the firm for transnational commercial transactions. In addition to this,, this study also assists in gaining an overview regarding the leadership capabilities and styles in the corporation Westfield that has helped the firm to guide their efforts towards potential development. References Behn, R. D. (2014).The PerformanceStat potential: A leadership strategy for producing results. Brookings Institution Press. Bharadwaj, A., El Sawy, O. A., Pavlou, P. A., Venkatraman, N. V. (2013). Digital business strategy: toward a next generation of insights. Cavusgil, S. T., Knight, G., Riesenberger, J. R., Rammal, H. G., Rose, E. L. (2014).International business. Pearson Australia. Ferraro, G. P., Briody, E. K. (2017).The cultural dimension of global business. Routledge. Goerzen, A., Asmussen, C. G., Nielsen, B. B. (2014). Global cities and multinational enterprise location strategy. InLocation of International Business Activities(pp. 137-180). Palgrave Macmillan UK. Hill, C. W., Cronk, T., Wickramasekera, R. (2013).Global business today. 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