Team Member Happiness and Excellence
Creating Wealth Through Profits and Growth
Caring About Our Communities and Our Environment
Creating Ongoing Win-Win Partnerships With Our Suppliers Promoting the health of our stakeholders through healthy eating education (Thompson, Peteraf, Gamble and Strickland, 2012).
The core values were established to help guide the company towards their future state, however they still needed to identify their strategy. Mackey’s strategic vision for Whole Foods was to “become an international brand synonymous with carrying the highest quality natural and organic foods available and being the best food retailer in every community in which Whole Foods stores were located.” (Thompson et al., 2012). To achieve this goal, the company’s strategy has focused on specific chief elements: growth strategy, store location strategy, product line strategy, pricing strategy, strategic moves to control expenses, merchandising strategy. For evaluation purposes, investors and stakeholders alike can determine how well matched a company is with market conditions, called a fit test. According to Thompson et al, to qualify as a winning strategy, the strategy needs to be “well matched to industry and competitive conditions, a company’s best market opportunities, and other pertinent aspects of the business environment in which the company operates.” (Thompson et al., 2012). In the case of Whole Foods, its 30-year global quest may be proof of their strategy aligning with market conditions. Whole Foods identified a niche demographic that did not mind spending a premium to purchase farm fresh, healthy foods free of hormones and pesticides. To tap this market, Whole Foods favored store locations in “the upscale areas of urban metropolitan areas” providing a product line between 20,000 to 50,000 products including “natural, organic and gourmet foods.” (Thompson et al., 2012). Whole Foods selections included fresh produce natural and organic meats, wild-caught seafood, daily baked goods, fine cheeses, world coffees and teas, and a selection of prepared foods such as soups and salads. This selection of healthy, earth conscious foods presented in dense urban populations help to fashion Whole Foods competitive success confirming that their strategy was in alignment with market conditions. The store locations...