Current Organizational Structure of the Company
Figure 1: current organizational structure of Woolworths Limited
(Source: Arli et al. 2013, pp-10)
According to the represented diagram it has been found that the organizational chart of Woolworths Limited is well organized. Starting from the non-executive directors the chart ends up with the general manager and fellow team members (Bailey 2017). In order to gain competitive advantages from the competitive market place it is very much necessary for the organization to maintain correct organizational chart or model. With the application of cloud contact centre, the head of the management team is willing to change their organizational chart from the existing one (Mertens et al. 2016). It has been found that, the chief executive director and the financial officer of the company are responsible to take the necessary responsibilities to meet the requirement of the consumers. Lack of operational excellence and functional requirements are the main issues those are associated to Woolworths Limited, and are needed to be optimized for gaining competitive advantages and measurable revenue from the competitive market. The digital business platform of Woolworths Limited is not at all advanced and due to these reasons the Customer Relationship Management, Supply Chain Management of Woolworths Limited is getting affected tremendously (Arli et al. 2016). However, from both the business and consumer’s aspect the organizational chart of the company is not profitable. Again, the open communication approach of the company is not correct due to this reason the interaction between the management authority and the management is not perfect. For lack of open communication they fail to share their point of views with the management authority.
The growth strategy of the company is getting affected badly due to the external environmental condition of the company. There are many competitors of the company are present and thus they fails to adopt correct data protection mechanism and security approaches as well (Das Nair and Dube 2017). As Woolworths Limited does not have proper security approaches thus, the company is failing to acquire consumers. The company has currently implemented online selling approaches but in online selling security is the most important thing that every enterprise should consider. After adoption of online digitized approach they raised the price of their products (Ma 2015). Even, their storage also does not proper security codes thus the data could be accessed by any external users. The governmental intervention is another important issue for the Woolworths Limited.
Based on the identified issues proper digital issue mitigation mechanism are also required to be adopted by the management authority. For developing the business operational excellence suitable application are needed to be adopted by the company (Rose, Hawryszkiewycz and Kang 2015). The identified rather recommended applications for the company include commercial software, consumer management software, enterprise resource planning etc. As it is identified that the management issues associated to the company is their data management approach. The data management system of the company is very much backdated thus, they fails to management information automatically (Steele, Smith and Steele 2015). The company has traditional data management thus auto data insertion, update and delete options are not there.
Operational Problems Faced by the Company Due to Organizational Structure
After identification of current market position of the company it is recommended that the company should utilize SAP based ERP system and accounting software package for managing their financial data (Wang and Tan 2015). Security towards the financial information is very much important to keep for accessing data with the permission of the authorized users.
From the above diagram it is found that, every single factor is maintaining properly by the sales flow process of Woolworths Limited. After gathering information from different resources, proper campaigning is required to be done by the management authority to gain competitive advantages (Yigitbasioglu, Mackenzie and Low 2013).
Figure 2: System process flowchart for Woolworths Limited
(Source: created by author)
If the campaign is found to be successful then the number of sales opportunity will increase however if the campaign is not resulted as successful then, the management will be required to rethink about the development of the business strategy (Madurapperuma 2015). On the other hand, if the sales opportunities get increases then, the consumers will be able to buy products with both online and offline payment.
It has been identified that possible level of frauds could be generated from the system and challenges faced by the Woolworths Limited thus these are required to be minimized by the management authority to gain competitive advantages. The control level problems can be optimized with the help of ERP solution (Klettner, Clarke and Boersma 2014). The components of control issue solution include business intelligence, financial management, and manufacturing as well as distribution solution. However, among all of these challenges, the most identified solution for accounts or financial structure is the accounting software packages (Culley et al. 2017). Different accounting software packages are available in Australia and among them the recommended solution for Woolworths Limited is the MYOB accounting software package.
Over multiple numbers of challenges the ERP system could reside, therefore, for data reliability, data availability and for reducing the technical complexity MYOB accounting software package implementation is referred to as helpful.
Management of confidential information is referred to as one of the most important thing that every company are required to be considered by the management authority to gain competitive advantages and measurable revenue from the marketplace (Klettner, Clarke and Boersma 2014). However, with the help of proper accounting software package the company will be able to manage large set of data without any error. The accounting software package provides effective platform to the consumers with the help of the internet service. The high level maintenance cost, IT infrastructure, purchasing expensive are the main issues that the company is widely facing (Ma 2015). For managing the employees and consumers of the company, it is necessary for the Woolworths Limited to work properly. Through the help of cloud based accounting system all the devices could work effectively and efficiently. During the data processing phase, different issues might occur. The roadblock level errors could be completely mitigated with the help of the accounting software packages.
Most of the medium and large companies are currently using the accounting software packages for managing large set of information or data in an organized manner. Regardless of the location and time the users will be able to access information from the server. With the help of the accounting software package the company will be able to gain competitive advantages from the marketplace (Yigitbasioglu, Mackenzie and Low 2013). Most of the business organizations are currently relied on the accounting software packages. Even the manual data process is also possible with the help of the accounting software package. The design control approach could operate the system appropriately within the estimated budget and time as well (Steele, Smith and Steele 2015). More than 1000 companies are currently there those are using the concept of accounting software package.
System Acquisition Method Used by the Company
In Australia, many accounting software package providers are there and based upon the type of the business the most appropriate accounting software should be adopted by the management authority of the business organization. Implementation of MYOB accounting software package helps to manage data in a well organized and managed manner (Rose, Hawryszkiewycz and Kang 2015). The Australian security exchange will be able to gain proper return from the system. Considering the initial value or share price of MYOB it has been found that, the business of MYOB is worth a more than $2.5 Billion. After opening of the company from the business functionalities it is determined that, it will be able to gain a 1.3 Billion throughout (Alfred 2014). However, over only 2 to 3 years the initial share value price of the company will be increased from $800 million from $3.67.
MYOB has identified as a huge competitor to the company such as Xero, QuickBooks, Reckon, Saasu etc (Madurapperuma 2015). However among these companies the biggest threat to MYOB is Xero. The leaders that give competitive advantage to the company are demonstrated below:
MYOB
- The accounting software package benefits their administrations through online applications.
- The membership charged by MYOB is ranged $29 and $65 and in view of the operational administration and the memberships are chosen by the associations.
- Then again, MYOB provides live record access to the clients. This excellent software enables more than 50 clients to get to the server at once with no sort of blunder.
- MYOB serves appropriate sense of duty regarding secure data processing from the outer assailant (Mertens et al. 2016). None of the unauthenticated clients can access the data from the server without legitimate authorization.
- MYOB also provides appropriate data reinforcement to the users (Ng, Harrison and Akroyd 2013). It enables the clients to make reinforcement office so that, if any sort of disaster occurred, the organization might recover data from the backup server.
Xero
- Xero likewise gives online administrations to their shoppers and the trial adaptation is particularly useful for the users.
- As per the offered membership Xero charges $19, $49, $64 every month. In any case, for the little and medium business, Xero offers the membership of $49 (Rose, Hawryszkiewycz and Kang 2015).
- The clients of Xero enable the clients to get to the server through login points of interest.
- No such data security issues are resolved with Xero. With the assistance of SSL every data will be secured from the outer assaults. Because of abnormal state security as far as encryption innovation, unapproved clients would not be capable to access data those are put away in the data server (Wang and Tan 2015). It has legitimate encryption keys to shield data from the outer attackers.
- Because of the severe security strategy no such data reinforcement processes are accessible in the event of Xero. However, offsite backup approaches are accessible in Xero.
After the analysis of the system services and practices that is served by MYOB, it has been found that there are different security and management level issues associated to it those are needed to be mitigated by the management authority of the business organization (Yigitbasioglu, Mackenzie and Low 2013). The challenges and gaps associated to MYOB are as follows:
Security level issues: Security is referred to as one of the biggest issues that have been identified. In some cases due to lack of security, the attackers are hijacking data from the server and misusing them widely (Daru 2015). After the utilization of accounting software packages it has been found that, the chances of data theft and data fraud might occur widely for the security level risks.
Data utilization: The other risk associated to the accounting software package is the data utilization. The system architecture developed by the organization is very much complex and thus, the users do not friendly with the designed system architecture (Culley et al. 2017). For reducing the user level system complexity it is very much necessary to enable the system operations and functionality.
In order to mitigate the issues it is very much necessary to recommend over the issues associated to MYOB accounting software package. The recommendations for MYOB system are as follows:
Training and development program: In order to mitigate the system complexity it is very much necessary to arrange proper training and development program for the organization.
Encryption: For mitigating the functional and operational issues associated to MYOB it is necessary to install proper firewall and encryption mechanism in the organization.
References
Alfred, B., 2014. Impact of Computerized Accounting on Performance of Payroll Accounting: Case Study of Urban Water and Sewerage of Authorities(Doctoral dissertation, The Open University of Tanzania).
Arli, V., Dylke, S., Burgess, R., Campus, R. and Soldo, E., 2013. Woolworths Australia and Walmart US: Best practices in supply chain collaboration. Journal of Economics, Business & Accountancy Ventura, 16(1).
Bailey, M., 2017. Absorptive Capacity, International Business Knowledge Transfer, and Local Adaptation: Establishing Discount Department Stores in Australia. Australian Economic History Review, 57(2), pp.194-216.
Bailey, M., 2017. Absorptive Capacity, International Business Knowledge Transfer, and Local Adaptation: Establishing Discount Department Stores in Australia. Australian Economic History Review, 57(2), pp.194-216.
Culley, B., Graham, J., Kay, G., Norberry, J. and Wilson, S., 2017. Digital Marketing Plan: Naked Wines Australia. Newcastle Business School Student Journal, 1(1), pp.68-89.
Daru, M.U., 2015. Role of computerized accounting in banking sector. International Journal of Advanced Research in Management and Social Sciences, 4(2), pp.26-34.
Das Nair, R. and Dube, S.C., 2017. Growth and Strategies of Large, Lead Firms-Supermarkets.
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Klettner, A., Clarke, T. and Boersma, M., 2014. The governance of corporate sustainability: Empirical insights into the development, leadership and implementation of responsible business strategy. Journal of Business Ethics, 122(1), pp.145-165.
Ma, X., 2015. The adoption of cloud computing for small and medium accounting firms.
Madurapperuma, M.W., 2015. The impact of embedding information and communication technology content in accounting courses and its effect on overall students’ performance.
Mertens, W., Recker, J., Kummer, T.F., Kohlborn, T. and Viaene, S., 2016. Constructive deviance as a driver for performance in retail. Journal of Retailing and Consumer Services, 30, pp.193-203.
Ng, F., A. Harrison, J. and Akroyd, C., 2013. A revenue management perspective of management accounting practice in small businesses. Meditari Accountancy Research, 21(2), pp.92-116.
Rose, J., Hawryszkiewycz, I. and Kang, K., 2015, July. Evaluating Information Systems for Collaborative Wellness. In The Pacific Asia Conference on Information Systems (PACIS). AIS.
Steele, A., Smith, L. and Steele, A., 2015. Web and Social Media Adoption in the Manawatu Retail Clothing Sector.
Wang, W. and Tan, F.T.C., 2015. A Benefit Expectation Management Framework for Supply Chain Management Systems. In Enterprise Systems. Strategic, Organizational, and Technological Dimensions (pp. 247-270). Springer, Cham.
Yigitbasioglu, O., Mackenzie, K. and Low, R., 2013. Cloud Computing: How does it differ from IT outsourcing and what are the implications for practice and research?. The International Journal of Digital Accounting Research, 13, pp.99-121.
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