Selling the Highest Quality Natural and Organic Products By:- Claudia Fortune Erdogan David
History Whole Foods Market was founded in Austin, Texas, when four local businesspeople decided that natural foods industry was ready for a supermarket format. The original Whole Foods Market opened in 1980 with staff of only 19 people. It was an immediate success. At the time, there were less than half a dozen natural food supermarkets in the United States. Whole foods is a socially and environmentally conscience supermarket. Whole Foods customers value the store’s commitment to superior quality in organic and natural products, as well as, their ethics and dedication to the environment, animal welfare and customer satisfaction. Whole Foods is more costly than a traditional supermarket. Whole Foods Market’s corporate objective is to become an international brand synonymous with, not just natural and organic foods, but also with being the best food retailer in every community in which they are located. They believe a heavy emphasis on perishable products is helping to reach that goal, differentiating the stores from conventional supermarket and enabling them to attract a broader customer base. Their business objective is that all shoppers, not just natural and organic food shoppers, appreciate great produce, dairy, meat, seafood, bakery and prepared foods. Whole Food’s objective is to produce higher sales growth, comparable store sales increases and sales per square foot, than their public competitors.
Mission Statement Whole Foods Market is a dynamic leader in the quality food business. We are a mission-driven company that aims to set the standards of excellence for food retailers. We are building a business in which high standards permeate all aspects of our company. Quality is a state of mind at Whole Foods Market.
Vision Statement Our motto — Whole Foods, Whole People, Whole Planet — emphasizes that our vision reaches far beyond just being a food retailer. Our success in fulfilling our vision is measured by customer satisfaction, Team Member excellence and happiness, return on capital investment, improvement in the state of the environment, and local and larger community support. Our ability to instill a clear sense of interdependence among our various stakeholders (the people who are interested and benefit from the success of our company) is contingent upon our efforts to communicate more often, more openly, and more compassionately. Better communication equals better understanding and more trust.
John Mackey, one of the founders of Whole Foods Market states that “happy team members create happy customers, and happy customers create happy investors”.
Whole Foods approaches and promotes success depending on the collective energy and intelligence of all Team Members.
Overall flat structure, not hierarchical decision making.
Decentralized decision making, based on input of many people.
Empowerment-Promoting self-directed team culture “The fundamental work unit of the company is the self- directed Team. Teams meet regularly to discuss issues, solve problems and appreciate each others' contributions. Every Team Member belongs to a Team”.
Team Members motivation facilitating and promoting their success to their highest potential.
Appreciating effort and rewarding results tied to performance.
Peer pressured vs. bureaucracy. Non bureaucratic structure creates loyalty among colleagues.
Self responsibility ,for our own success and failures.
Allowing members feel their work is important make them have good things to say about the organization and its people.
Promoting open communication at all levels.
Management welcomes employees willingness to ask questions, share information, and express their points of view, increasing employees accountability.
“ No secrets” philosophy allowing employees to have access to company-wide information and financial data that is generally in the hands of senior management only, including annual compensation report.
Store leaders also communicate goals, ensure company policies and procedures are followed, and infuse core values.
They motivate and inspire team members by providing them with opportunities to develop their skills and passion for the products and services they sell and the company they work for.
In addition, one of the most important responsibilities store leaders have is working with local producers to select the right products for the store shelves.
Whole Foods Market (Whole Foods) owns and operates several wholly-owned subsidiaries.
International expansion located in the US, Canada, and the UK. It employs about 52,900 people. In 2001, moved to Manhattan, attracting the media and financial industries. 2002 saw an expansion into Canada and in 2004, Whole Foods Market entered the United Kingdom.
The company recorded revenues of $7,953.9 million during the financial year (FY) ended September 2008, an increase of 20.7% over FY2007.
They have had 25 years of double digit revenue growth.
Undisputed $4.7B Organic Supermarket Industry Leader. Originally, health food stores were small, expensive, and didn't carry a large variety of products, Whole Foods changed all of this and they became the founding firm of this industry.
As the world is becoming more aware of how important it is to eat healthy, Whole Foods need to be there to pull those consumers in to the stores.
Whole Foods provides a store brand that is comparable in price to other grocery chains. Whole Foods needs to change the attitude of consumers that perceive healthy food as more expensive.
Finding cost effective way to give a little something back to customers that do buy on a regular basis and try to get new customers in the same tactic. Making a free rewards card--after so much bought or points accumulated a customer can get a discount on the next purchase or get something free from the store.
Involvement in sponsoring town events (not just in-store events) to increase recognition of the brand name and make customers more aware of the products they offer.
Promote and building brand identity with organic foods, eventually leading to the idea that when people think "organic" they will think "Whole Foods."
Whole Foods has increased competition from existing supermarkets that are re-branding in order to compete with them-Wal-Mart, HEB Central Market (Texas, Mexico) Wegman's (New York), and Publix (Southern US). These stores have copied the atmospherics and some of the food items sold by Whole Foods.
Current economic situation in the US is a threat due to Americans' desire to save money and that means groceries. Food is expensive and Americans' don't see the cost effectiveness of purchasing organic food.
Any changes in government regulations on organic food would impact consumer spending even further.
That concludes the presentation from the AA Team. Thank you all for listening. Enjoy the rest of Summer. VOTE AA TEAM!