Extract of sample The Novelty of Whole Foods Market
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.
Determining the strategic drivers 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 the 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.,)
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 has been followed with exceptional zeal throughout their corporate history. It must be said that the leadership has played a vital role in this outcome.
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 Pollan, author of The Omnivores 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 with all interest and each stakeholder, be it the customer, worker or shareholder.
In the paper “The Novelty of Whole Foods Market” the author determines the strategic drivers of the company. This mission is aided by PEST and SWOT Analysis. This involves the formulation of Vision Statements, Mission Statements, Corporate Objectives, and Tactical Objectives…
Whole Foods Market. The organic food industry is one of the lucrative industry segments. Data from sources state the market size of the organic food industry at 55 billion US dollars as of 2009that represents a buoyant growth of about 207 percent as of 2000.
Whole Foods was an initiative by two young entrepreneurs who grew by leaps and bounds, the sales kept doubling for the two each year for the first four years and this was just the beginning. The original idea was to provide people of Texas with a grocery store which would satisfy their demands and they certainly succeeded in doing so.
Name Course College Date Case Study: Whole Foods Market Inc 2005 Q1 One of the strengths in Whole Foods Market is in the provision of organic natural food. Today, most consumers emphasize living a green life and are more concerned about their health and the foods they use.
Whole Foods Market. Whole Foods Market (WFM) describes itself as “the world’s leading retailer of natural and organic foods and America’s first national ‘Certified Organic’ grocer” (WFM Form 10-K, 2013, p. 1). The first WFM store was opened in 1980 in is based in Austin, Texas.
The coupon program is the answer of Whole Foods Management in the growing competition in the market with respect to offering cheaper natural and organic food items in the market.
Whole Foods Market is also known for providing high quality products in the market which serves as its main competitive advantage against competitors.
I have chosen Whole Foods Market, Inc. because it is a big name in the natural and organic food industry. Company currently operates in 11 different geographical locations along with 275 stores. Whole Foods Market offers different product lines to its valuable customers like meat, poultry, cereal, seafood, cheese, beers, wines, household products, etc.
“Wow! What a ride. Back in 1980, we started out with one small store in Austin, Texas. Today, we’re the world’s leader in natural and organic foods, with more than 310 stores in North America and the UK. What a long, strange trip it’s been. We still honor our original ideals, and we think that has a lot to do with our success.” (About Whole Foods)
Whole Food Market’s research process specifically includes coming up with a synopsis, major issues, and listing possible solutions to resolve the main problem. Further, the Whole Food Market research includes picking the best alternative solution that
The study leads to the conclusion that Whole Foods Market is a global franchise that started from humble beginnings. The company’s vision to explore different markets on different continents especially Europe is possible due to the expansion of the natural food markets globally. In the European continent, the sales increased by 9% in 2011.
10 pages (2500 words)Essay
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