Whole Foods Market Case Study Example | Topics and Well Written Essays - 2500 words

Whole Foods market place - Case Study ExampleWFMs mission is Whole Foods Whole People Whole Planet, aiming to raise the vitality and well-being of all individuals by supplying the highest quality, most wholesome foods available (WFM Form 10-K, 2013, p. 1) so the reference to Whole Foods. It follows, however, that the purity of the food provided WFMs nodes is directly determined by the quality of the environment, and then the reference to Whole Planet. Finally, the provision of good, healthy food and maintenance of the environment can only be achieved by dedicated individuals working towards a common objective therefore the reference to Whole People. This synopsis explores WFMs business and control strategies, adopting the paradigms of Porters generic strategies and the organisational theory by Coase/Williamson, respectively. It discusses the approach of WFM to straight changes in terms of technology, harvestings and services, and organisational structure, outline and cult ure, and explains how change policies have evolved in WFM. Finally, discussion is focused on WFMs virtual and self-managed teams which are the fundamental organisational units of the firm and the source of its competitive advantage. WFMs championship and Control Strategies Business strategy of WFM A business strategy, in its simplest definition, is the means by which a business organisation identifies and attains its goals (Porter, 1996). qualification a strategy for business begins with identifying the firms goal, and then systematically formulating a plan by which the goal may be achieved. WFMs purpose is embodied in its mission and core values. Its strategy goes well beyond merely providing fresh foods. The vision emphasises that whole people are as central as whole foods that is, developing their human component to their fullest potential, allowing them the freedom to create and innovate, and the power to decide on matters that affect their sphere of work. Generic strategie s based on Porters typology (Parnell, 2013, p 184) Emphasis on Entire Market or Niche Emphasis on Low Costs Emphasis on Differentiation Emphasis on Low Costs and Differentiation Entire Market Low- hail strategy Differentiation strategy Low cost differentiation strategy Niche Focus low cost strategy Focus differentiation strategy Focus low cost differentiation strategy WFMs business strategy emphasises creativity and innovation which create a difference in the stores choice of product offerings and the quality of their service delivery, for the entire market. This is the differentiation approach. This is the strategy that is ideal in markets dominated by boastful market leaders in this case, Wal-Mart which overshadows all other competitors in the grocery industry. Rather than going neck and neck with Wal-Mart and inevitably lose in the process, WFM could achieve greater business success if it distinguishes itself along key strategical points. These key attributes are those competi tive factors that the smaller grocer can develop but which Wal-Mart cannot easily duplicate, such as less hectic stores, superior selection of certain food products, or greater convenience to the customer (Parnell, 2013). WFMs favourable employee policies that develop a sense of engagement and ownership among its workers are evidenced by its annual inclusion in Fortune Magazine