Last year, Waitrose registered gross sales up 251.6 million pound which is 6.8% to just under 4.0 billion pound. Waitrose operating profits (excluding property profits of 8.6 million pound) has increased 38.3 million pound which is 22% increase to 212.1 million pound. It is likely to grow at the rate of 3.6 % (excluding Petrol). It has the market share of 3.9% and has registered growth in operating margin by 5.4% (excluding property profits). Waitrose sales have growth by 47% in last four years. Its market share of the UK organics market stands at over 18%. Sales density of Waitrose has increased by 2.3% to 1,038 pound per square feet. Due to its higher product quality, Waitrose achieved 13 out of 18 quality standard industry awards. Waitrose has maintained its long-term relationship with farmers and suppliers and committed to support and sell only British farm products. Waitrose is providing specialized services to provide knowledge of the products to its customers. So Waitrose aims to combine the convenience of supermarket with the expertise and services of specialist shop and offer price commitment to ensure its customer to get good value for money at Waitrose. These are the sole reasons why Waitrose voted as the most favorites. These are the sole reasons why Waitrose voted as the most favorite grocer of U.K (All the data has been extracted from the website www.waitrose.com ).
Individuals as an employee are motivated through the fulfillment of their desires & needs, and is the base for the fact that why people behave in a certain way to achieve their personal goals. The two factor theory (sometimes also called motivation-hygiene theory) was proposed by psychologist Frederick Hertzberg. According to Hertzberg, the factors leading to job satisfaction are separate and distinct from those that lead to job dissatisfaction. Therefore, managers who seek to eliminate factors that can create job dissatisfaction may bring about peace but not necessarily motivation. They will be placating their workforce rather than motivating them. As a result conditions surrounding the jobs such as quality of supervision, pay, company policies, physical working conditions, relation with others and job security is characterized by Hertzberg as hygiene factors. When they are adequate, people will not be dissatisfied; neither will they be satisfied. If we want to motivate people on their jobs, Hertzberg suggested emphasizing factors associated with the work itself or to outcomes directly derived from it, such as promotional opportunities, opportunities for personal growth, recognition, responsibility and achievement. Maslow's hierarchy of needs theory based on five needs, first two lower needs and later three upper needs (Physiological, Safety, Social, and Esteem & Self Actualization) has received wide recognition, particularly among practicing managers. This can be attributed to the theory's intuitive logic and ease of understanding. In the later years, Alderfer has reworked Maslow's need hierarchy to align more closely to empirical research. It is revised need hierarchy is labeled ERG theory (Alderfer, 1969). Alderfer argues that there are three groups of core needs- existence, relatedness & growth. The existence group is concerned with providing basic requirement, which Maslow considered to be physiological and safety needs whereas relatedness considered Maslow's social needs and the external component of