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Human resource managemet theory
Human resource managemet theory
Human resource managemet theory
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Managers can accomplish more through people by viewing them as self-energized, committed, responsible, and creative human beings. Theory Y Human Capital The productive potential of an individual's knowledge and actions. The Social Capital, Productive potential resulting from strong relationships, goodwill, trust and cooperative effort. Corporate Social Responsibility The notion that corporations have an obligation to constituent groups and society other than stockholders and beyond that prescribed by law are union contract.
John Mackey the CEO of Whole Foods states that they want their employees to be happy because happy employees make happy customers and happy customers will refer people to the place of business there for bringing more customers
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How does Whole Foods build human and social capital? Mackey stated he believe that the hiring process is essential for a company to flourish. By hiring good employee that will enjoy their work and feel like they matter to the company, they will be a good investment to the company. Also by making the work environment comfortable for everybody, the .social aspect will come natural. Human Capital: Share visions, shared goals, teamwork, trust, mutual respect, and volunteering. Social Capital: Is necessary for the good of the organization for knowledge, sharing, and networking. According to whole foods, they hire individuals and train their members to be highly Knowledgeable in a specific product or service area (e.g., prepared foods, meats and poultry, customer service). Team members report to a team leader, who then works with store management, referred to as store team leaders. These team members operate much differently than most "employees" in retail grocery outlets. These team members work together with their team leader to make a number of decisions with regard to their specific areas, and they contribute to store level decisions as well. In the social aspect Whole Foods Market emphasizes the importance of sustainable agriculture. Whole Foods tries to support organic farmers, growers, and the environment by a commitment to using sustainable agriculture and expanding the market for organic
Whole Foods Market allows each market to supply products that are standardized, and also supply products based on local buyer needs, as well as the culture of the area; therefore their business strategy is transnational (Thompson, 2016, p. 192). Whole Foods Market varies their products based on location, focusing on local products and any unique products to promote a neighborhood market feel for their customers. The company strategically chooses its locations, placing them in educated areas, and then focuses on products to sustain a competitive advantage.
Comparing my shopping experience at Whole Foods verses Walmart, I have always had positive experiences at Whole Foods. I admit at first I was hesitant to shop there because I thought their prices would be too high or that they wouldn’t have the items I was accustomed to purchasing. My first experience was shopping for lip balm. I was told they sold a brand that didn’t include camphor phenol and that was important to me. Being that I never shopped in Whole Foods before I immediately asked for assistance in finding the right isle. Not only did they direct me, they walked with me and asked what I was looking for, they showed me the product and even gave me useful information regarding the lip balm. Since that day I have been back many times, not only for lip balm but for a variety of groceries and products. Whole Foods staff is pleasant, enthusiastic and extremely helpful. They are well trained on their merchandise as well as customer service and seem to genuinely enjoy interacting and working at Whole Foods. In addition,
Whole Foods was founded by John Mackey in 1980 and since then, it has evolved into the world’s largest retail chain of natural and organic food supermarkets. It was an instant success because of an ability to carry far more organic and natural items than any rival, and its rapid growth is primarily due to being dedicated quality standards and core values. It was reflected in the company’s mission to “promote the vitality and well-being of all individuals by supplying the highest quality, most wholesome foods available.” Alongside with its mission, Mackey created five core values for the company. First, “sell the highest quality natural and organic products available.” Second, “satisfy and delight customers” as customers were declared the company’s
They seem to be a company that enjoys their employee’s success. It is a great reflection on the company that so many people seem to enjoy their position at Whole Foods and feel like that are making a positive impact on both Whole Foods and the customers. Any company that focuses on self-motivation is going to be a winning company. This helps them build dedication and loyalty to their brand by giving those who work the hardest the most opportunities. They have been ranked as one of the top 100 places to work in America by Fortune since the list was created in 1998(WholeFoodsMarket.com).
Whole Foods has several FaceBook pages depending on the store however they do have a corporate page where they clearly state their cores values. These mainly encompass a well being for the community while spreading the knowledge of healthy living as well as their commitment to high quality and organic foods. They have over 1 million likes and share content from their Pinterest, Twitter, and Instagram on FaceBook. The FaceBook content mostly has recipes and pictures that buying a certain product will help fund a good cause. Whole Foods has several CSR initiatives to fight poverty inside and outside the US while also giving micro loans to farmers in need. I viewed several other local FaceBook pages of theirs to get a feel for the overall message. The local pages include specials, cooking classes, pictures, and of course they continue to be very engaging of the audience; overall the message remains consistent throughout the different pages.
Organizations must have social capitalism in order to strategize and stay competitive with other individuals or companies in order to benefit. Whole foods market took things to the next level by understanding the ability to trade their property with whoever they want. Knowing when the time is right to make a move so that nothing is jeopardized. There are several points that must be made, know the laws that surround the business, the value of the business, and the profits of the shareholders.
(a) The importance of a mission statement. Whole Foods Market ® follows the basic guidelines for a mission statement with the most important aspect, motivation. This motivation was not only just for the customers to shop with them but also for their employees. “Business Week reports that firms with well-crafted mission statements have a 30% higher return on certain financial measures than firms that lack such documents” (David, 2003). In twenty-five years, Whole Foods Market ® was able to extend their business concept to “157 stores in 28 states” to include “the District of Columbia, Canada, and Great Britain” (WFM, 2004). Mission statements are to ...
According to Shanker and Mosendz, Whole Foods has helped create the standard of food production. Practices like air-chilling, and raising animals without the use of antibiotics has become not
Store Operations/Incentives: From an internal perspective, Whole Foods uses a team-based strategy of operations. Employees are part of a democratic process of selecting new hirees, implementing new ideas and encour...
Whole foods sells a wide range of healthy foods and this specialized grocery chain has about 422 stores in the U.S. and United Kingdom (Whole Foods IP. L.P., n.d.). While the corporate owner's may claim to be the leading seller in
While the organic movement has increased the production and sale of organic food in the United States, something that should be noted is that the stock of Whole Foods Market, a grocery store is dedicated to the sale of organic food, has gone down 40% since October of 2013. Whole Foods Market’s success rates are slowly beginning to diminish and it may lose its dominance in the organic foods market (The Economist, 2014). While this may seem indicative of a decrease in public interest of organic food, it really indicates the opposite. After seeing the success of Whole Foods Market, new stores such as Trader Joe’s and Sprouts entered the organic market and became strong competition. The decline in Whole Foods Market’s success may be attributed
He points out that not every company needs to be philanthropic, however, Whole Foods mission and core values is to make contributions to the communities in which they live and do business. He also feels that Whole Foods must generate high profits to fuel their corporate social responsibility. Meanwhile, he respects Friedman’s viewpoint for his business, that philanthropy is a means to end for increasing investors profits, however, he strongly disagrees with Rodgers that profit maximization is the only purpose of business. Especially as he makes the point that Rodgers’ business has struggle to be profitable while, Whole Foods has created tremendous shareholders
The mission statement of an organization is designed to state the purpose of the organization. Developing an organization is usually determined during the initial start up and can be changed due to changing environment demands. 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. (Whole Foods, N.d.) Before getting to the end of the mission statement it is clear that Whole Foods is focused on quality. From there Whole Foods builds on its mission statement with its vision and values aligning some of its components such as organizational culture.
How well a business manages its assets and resources predicates its overall success. Companies that spend financial resources foolishly are apt to find themselves in bankruptcy. Companies that work capital equipment resources beyond the machine’s capabilities or for other than intended purposes are apt to experience downtime and/or lose the equipment to failure. The same premise holds true for a company’s human assets. However, unlike other company assets, which depreciate over time, human assets appreciate over time when managed properly. The article, Importance of Human Resource Investment for Organizations and Economy: A critical Analysis, explains the importance of managing human assets as follows:
Human capital refers to skills or knowledge of individuals, based on their education and experience while social capital refers to beneficial connection to social networks,