The Novelty of Whole Foods Market - Essay Example

The Novelty of Whole Foods Market 1 Introduction The novelty of Whole Foods Market (WFM) is its rigidity in selling only organic food items that are free of pesticides, preservatives and sweeteners. It is the largest natural food chain in the world, operating in USA, Canada and the UK with more than 300 stores whose major sales comprise of perishable goods. 2 Fiscals in 2006 Established in 1980 it has thrived on fast expansion through takeover and merger route and at the end of September 2006 has impressive results.

It ranks 411 in Fortune 500 lists, with Sales of $5.607 billions with sales growth over last year being 19.3%. The Net Income was $203.8 million and the annual growth was 49.5%. It employs 39,500 people worldwide and is free of unions. (Hoovers). This is a result of its clear Management Strategies. 3 Management Strategies Determining the strategic drive of the company is the primary task of top management. This mission is aided by PEST and SWOT Analysis. With this assessment, objectives are set.

This involves formulation of Vision Statements, Mission Statements, Corporate Objectives, Strategic Business Units, and Tactical Objectives. These objectives suggest a strategic plan. The plan provides the details of how to achieve these objectives. Once the plan is formulated it needs to be implemented. The implementation process must be detailed to the minutest degree as this is the crux of the whole strategy. (Thompson Arthur A.,) 4 Mission Statement WFM’s mission statement has been spelled out as the stakeholder philosophy.

For them it is customers first, then the team members, balanced with what’s good for other stakeholders, such as shareholders, vendors, the community, and the environment. (Corporate Board Member, January/February 2007). These are the core values of the company that have been followed with exceptional zeal throughout their corporate history. It must be said that the leadership has played a vital role in this outcome. 5 Leadership The Chairman and CEO John P. Mackey, was named the 2003 Overall National Ernst & Young Entrepreneur of the Year.

This a tribute to his overall commitment that has keyed up the whole company for almost three decades. His handling of delicate issues like the confrontation with Michael Pollen, author of The Omnivore's Dilemma, both in person and through his blogs, (Mackey. John), and his statement on Conscious Capitalism has gone down well with both the customers as well as Wall Street. He has stated that conscious capitalism is in harmony of all interest and each stakeholder, be it the customer, worker or shareholder.

He has also insisted on ethical issues in purchasing be the focal point of the supply chain. As a result WFM is seen as a transparent and conscientious company. 6 Conclusion It has to be admitted that actions on strategy by WMF have been on target and there is concerted effort in pursuing these policies with vigour and distinction. Under the exemplary leadership the company has shaped well and is becoming popular by the day. The integrity and transparency has earned WFM a respect that is rare and it shows in the frustration of various unions that have tried for yeas, but failed to lure away the WFM employees to join any labour union.

7 Bibliography Hoovers available at: http://www.hoovers.com/whole-foods/--ID__10952-- /free-co-factsheet.xhtml Mackey. John,. Available at: http://www.wholefoodsmarket.com/blogs/jm/ Thompson. Arthur A., Strategic Management: Concepts and Cases Edition: 10th, published by University of Alabama