IA0626-01.docx - WOOLWORTHS GROUP SUSTAINABILITY Woolworth Group Sustainability Report By(Name Course Professor\u2019s name Institution Location of

IA0626-01.docx - WOOLWORTHS GROUP SUSTAINABILITY Woolworth...

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WOOLWORTHS GROUP SUSTAINABILITY1Woolworth Group Sustainability Report By (Name)CourseProfessor’s nameInstitutionLocation of institutionDate
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WOOLWORTHS GROUP SUSTAINABILITY2Contents1.0.Introduction.....................................................................................................................................22.0.Stakeholder Engagement.................................................................................................................43.0.Woolworths Social and Environmental Initiatives that are Material to the Company’s Core Business......................................................................................................................................................63.1.Environmental Initiatives.............................................................................................................63.1.1.Food Waste..........................................................................................................................63.1.2.Efficient Energy...................................................................................................................73.1.3.Sustainable Sourcing of Seafood..........................................................................................83.2.Social Initiatives..........................................................................................................................83.2.1.Local Sourcing.....................................................................................................................93.2.2.Supporting Farmers Affected by Drought............................................................................93.2.3.Donation of Surplus Foods to the Needy...........................................................................104.0.Performance in both Environmental and Social Initiatives............................................................114.1.Environmental Initiatives...........................................................................................................124.1.1.Food Waste........................................................................................................................124.1.2.Efficient Energy.................................................................................................................124.1.3.Sustainable Sourcing of Seafood........................................................................................134.2.Social Initiatives........................................................................................................................134.2.1.Local Sourcing...................................................................................................................134.2.2.Supporting Farmers Affected by Drought..........................................................................144.2.3.Donation of Surplus Foods to the Needy...........................................................................155.0.Recommendation...........................................................................................................................155.1.Comparison between Woolworths Group Environmental and Social Initiative Reporting with Wesfarmers............................................................................................................................................155.2.Recommendations for Woolworths Group Reporting................................................................166.0.Conclusion.....................................................................................................................................17References.................................................................................................................................................18
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WOOLWORTHS GROUP SUSTAINABILITY31.0.Introduction Formerly known as Woolworths Limited, Woolworths Group has since its inception in 1924, developed into one of the most profound companies in the retail segment. Woolworths’ segment is comprised of Australian Food and Petrol, Endeavour Drinks Group, New Zealand Supermarkets, BIGW and Hotels (Reuters 2018). The company’s Australian Food and Petrol segment is used to procure both food and petroleum products, which are resold to customers in the market. In New Zealand, Woolworths has employed its New Zealand Supermarkets segment to procure food and liquor products, which the retailer resales to New Zealand customers. Procurement of liquor, which is resold to customers in Australia is also done using Woolworths Endeavour segment, whereas the BIGW segment allows the retailer to engage in merchandising of discounted products (Reuters 2018). Woolworths Group has also shown significant interest in the hotel industry and has since been using its Hotels segment to provide customers both hospitality and leisure services. Despite these segments, Woolworths Group is largely known for its retail services considering the company’s 3,000 stores, a group of 201,000 employees and a customer base that currently extends to more than 29 million (Woolworths Group 2019). The company is also known for its business strategy, which involves sourcing products from local farmers and manufacturers. Whilemaking profits and expanding its operations in Australia and other parts of the world has always been the main objective of Woolworths, the company has also shown significant efforts in terms of providing customers with products and services that support sustainability initiatives.
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