In: Economics
Loblaw companies Ltd is a Canadian food retailer with corporate and franchise super market.Loblaw's success can be attributed to its management board which comprises of individuals with diverse experience,having different viewpoints with a lot of expertise.These people are committed to the customers,comitted to their colleagues and to the values of the companies.The board of directors look into the interest of the stakeholders. The board has been instrumental in demonstrating the principles of Loblaw being transparent,accountable and having sound corporate governance.
Loblaw's business practices shape its organizational culture through 5 principles like respecting the environment,making a positive impact on the community,reflecting the diversity of the nation,source with integrity and making the company a great place to work.
The four main organizational strucures are line organization, line and staff porganization, committe organization,and Matrix organization. Loblaw come under committee organization structure.
Corporate social responsibility is a self regulating business model which helps a company to contribute to the society and to be accountable to the public , to the stakeholders of the company as well as to itself.Loblaw help Canadians with the product and services they offer and the company has strong commitment to Corporate social responsibility. Loblaw tries to give back to the communities in which they operate,sourcing with integrity and tries to give due respect to the environment.
Loblaw has been the world leader in in- house label has been better than many national competitors .Key success factors are providing quality food products to Canadians by offering a variety of fresh produce which helps Canadians to maintain good health.Loblaw began developing organic food and its success is mainly due to its abilityto 'pounce on consumer trends 'early.With Joe Fresh , Loblow moved into clothing in 2006 and that was avery bold step..Loblaw has taken over the drug store chain to keep customers up -to- date with their prescription . All these led to success of Loblaw.
Loblaw has been in business in Canada for 96 years due to its innovative practices and has been better than many of its competitors.
Source-The way we do business-Loblaw companies limited.