Group Case Analysis WEEK 6
Whole Foods Markets, Inc.
Existing mission, objectives, and strategies:
According to Strategic Management Concepts and Cases, written by F. David, Whole Food Market, Inc.’s current mission statement is as follows, “to promote the vitality and well-being of all individuals by supplying the highest quality, most wholesome foods available” (David, 2011, p. 74). David also points out that Whole Food Market Inc.’s operating motto is as follows, “Whole Foods, Whole People, Whole Planet” (David, 2011, p. 75). As a food distributor, many of Whole Food Market Inc.’s objectives are very similar to those of any other food distributor. For example, Whole Food Market Inc. strives to maintain low prices, and provide high quality products. However, Whole Food Market Inc. also has other objectives that are unique and different from the objectives of many other food distribution stores. As stated by David, Whole Food Market Inc. aspires “to become an international brand synonymous with not just natural and organic goods, but also to be the best food retailer in every community in which they are located” (David, 2011, p. 74). Likewise, rather than simply selling groceries, Whole Food Market Inc. strives to promote a “culture” of healthy, environmentally friendly living. Not only does this company strive to impact customers by promoting a healthy lifestyle, but they also want to positively impact the planet. This is done by selling environmentally friendly products, and by promoting green living (David, 2011). Lastly, a main objective of Whole Food Market Inc. is to provide customers with healthy, cost friendly, prepared food. Whole Food Market Inc. sells a large variety of premade food that can be eaten at Whole Foods Market Inc. stores, or purchased as takeout. This service, offered by Whole Food Market Inc., not only results in additional revenues for the company, but it offers a convenient, healthy shopping and dining experience for customers (David, 2011). Whole Food Market Inc. utilizes a variety of different strategies to meet their objectives and fulfill their mission. First of all, David states that the associates who work in Whole Food Market Inc. stores are far more knowledgeable about the products sold in their stores than most associates would be at any other grocery store. This in turn, makes shopping at this grocery store very convenient for customers (David, 2011). Likewise, Whole Food Market Inc. prides themselves on the vast array of unique and quality products sold in their stores. Unlike many other grocery stores, Whole Food Market Inc. strives to maintain a thoroughly stocked selection of products in their store at all times. For example, David makes reference to “fifty different brands of olive oil” sold in Whole Food Market Inc. stores (David, 2011, p. 75). Another strategy this company utilizes to draw in customers and meet their objectives is the sale of premade food (Whole Food Market, 2011). As previously mentioned, Whole Food Market Inc. stores have restaurants in them that serve food items for breakfast, lunch, and supper. Likewise, they also sell dessert and snack items. The premade food is budget friendly, healthy, and environmentally friendly. This service provides customers with a convenient means of purchasing quality food, at a fair price, and it generates additional income for Whole Food Market Inc. (Whole Food Market, 2011). This company also strives to meet the unique needs and desires of customers according to the geographic location of Whole Food Market Inc. stores (David, 2011). According to David, Whole Food Market Inc. allows the managers in each store to control ten percent of the stock in the stores where they work. This strategy ultimately benefits the company, because managers are able to stock stores with products that...