Whole Foods Market, Inc. is not only well known as a successful organic food-selling grocery store, but also famous as its high quality standards and its great employment practices. In the Whole Foods Case, it talks about how Whole Foods Market became the nation’s largest natural foods retail chain and how it became the fastest growing company in the competitive grocery market (Whole Food Course pack). The company started with a small store and it acquainted many other existing nature foods retailers to enlarge the market. The expansion of Whole Food Market is really remarkable, and the company also led the organic foods from movement to mainstream. Therefore, it’s obvious that with such a great achievement, the company and executive members …show more content…
One of main concept is about utilizing motivation. Whole Food Market, Inc. knows well about how to motivate their employees and make them be productive. It is not just simply provide gain sharing program and different rewards, but takes care of every employee to let them feel that they are giving same opportunities and are treating equally. For example, the CEO of Whole Foods, John Mackey claims that he desired to create a “positive, productive, and enjoyable work environment.” With that being said, the company really focuses on employees’ satisfaction of working in whole Foods. This could be really essential because only when employees are happy with their work, they would like to produce more, and with that motivation of working more, it will bring the company much more profits. Besides that, Whole Foods follows the mission of interdependence, which means all the employees are encouraged to believe and help each other as well as rely on each other. Instead of one employee “controls” or “demands” another employee, they are giving more power to do what they need to get done and they are given fully recognition, because the company believe every employee is valuable and should be given the same opportunity to accomplish the working task. Given employees recognition also apply to Herzberg’ two-factor concept, which says the recognition for workers can motivate them to be productive because they know they are worthy to finish their jobs, and their achievements are noticed by the company. Meanwhile, Whole Food Company also provides incentive program and rewards for all the employees. Each of stores will receive a comparative data on how other teams perform in their job, and it will come out as a finical report so that the entire employee can see. This action will highly improve employee’s motivations, because when there is competition and rewards, people usually want
The food market business is usually a difficult one, but online retailer Amazon's proceeding to purchase high-end chain Whole Foods changed the landscape. The new corporation is currently reducing prices, as well as Amazon is managing to reduce costs by taking its online expertise
My organization, Trader Joe’s, is not an international business. Their stores are all located in the United States; therefore, I chose Whole Foods, who is a main competitor of Trader Joe’s for this assignment.
When reviewing the income statement for Kroger CO., sales have increased over the past three years. Sales were for the past three years were 2012 ($96,619 million), 2013 ($ 98,375 million) and 2014 ($ 108,465 million). The sales transactions need to be tested and validated. According to smallbusiness.chron.com, the following steps should be:
The retail grocery industry consists of the following strategic groups: grocery chains, small and large discount grocery (e.g. Dollar Stores and Walmart), wholesalers, and fresh-focused and specialty markets. Trader Joe’s could be categorized as a specialty fresh-focused store and it is often compared to Whole Foods, another organic store, defining it as its key competitor. Yet, it still competes with the large grocery retailers and now, Amazon grocery services.
Whole Foods Market does display qualities of deontology framework in relation to its marketing strategy. The analysis of the organisation and its marketing strategy within deontology theory has been carried out. The supermarket performed its ethical duty by informing customers about the products in store and showing them the preparation area, thereby justifying the high prices the high quality organic and natural products are sold at.
In conclusion, this organization should focus more on their employees and less on profitability. This reasoning comes from the idea that efficient and appreciated employees will dictate the future of an organization through their quality of work and their outlook on the company they work for. Implementing rewards for employees and showing appreciation towards them will make them feel honored to work for such a company. In addition, word of mouth from employees will dictate in the inflow of new or current customers. If employees are treated fairly and respectfully, they are more likely to recommend their place of employment for shoppers. Finally, the implementation of a hybrid culture will benefit the company by meeting the needs of the employer, employees and customers alike.
The company motivates employees by providing “reward” and “engagement”. Reward is evaluating the employees properly and giving reasonable salary, and are divided into three parts:
..., John E., Strickland, A.J. Thompson, Arthur “Whole Foods Market In 2006: Mission, Core Values, and Strategy”, Crafting & Executing Strategy 15th Ed., McGraw-Hill Irwin, 2007
To most consumers Whole Foods is known as a chain grocery store specializing in organic and natural foods. Some may go as far as say the name is synonymous with quality. This comparison is the result of Whole Foods’ marketing their brand successfully to consumers demanding their specialized foods. As with any organization, Whole Foods may consider evaluating their strategic objectives and decide if necessary course corrections are needed to reach their objectives and goals. Through a fundamental and technical analysis, I will discuss Whole Foods’ mission, vision, and goals, their competitive environment, and some factors within their strength, weakness, opportunity, and threat analysis. With such data and information I will recommend, if needed, and strategic changes in order to sustain a competitive advantage.
In the company’s “Values Matter” brand campaign launched in 2014, Whole Foods states that, “value is inseparable from values” (‘Values Matter’ Brand Campaign). This quotation is one that embodies all of Bakke’s ideas about ethics in business – they go hand in hand. High quality and valuable brands are developed because of internal values. Consumers recognize the value in buying ethically sourced products at Whole Foods, and they value the overall experience they get when they enter the grocery store from the employees and environment. When the mission and values of the company are connected to and embodied at all levels of the corporate culture, Marx’s alienation of labor theory becomes irrelevant. With $15 billion in sales in the 2015 fiscal year, Whole Foods proves that values should be put first in
Being the leader in its industry, the company has capitalized on the large market capital and is opening up to foreign countries where organic food is appreciated.
Whole foods build human capital by taking the initiative to hand select their employees for the company. Social Capital is developed by creating a place where employees are happy. John Mackey states that “when people are happy with their jobs they provide higher degree of service to the customers. Happy team members result in happy customers” (citation).
It is important for manager to understand that what motivates the individuals. There are different kinds of motivation theories which reveal that individuals are motivated by different factors. For example there is extrinsic motivation and intrinsic motivation (Amabile, 1993). Extrinsic motivation refers to the motivation that one has for the extrinsic rewards such as pay, status, power, etc. Then there are intrinsic motivating factors such as the chance to exercise one’s skills, the opportunity to learn and personal development. Research suggests that various factors motivate employees in a different degree depending on their nature. It would therefore be important for the manager to understand that what are the motivating factors for individual employees and then provide them incentives accordingly so that they can work in a more productive fashion. Once the individuals work with greater excitement and vigour it would automatically lead to better performance.
This study examines the performance management and reward strategy used in Unilever to retain and motivate their employees for a long term. Both intrinsic and extrinsic rewards are given to employees to make them loyal and to utilize their skills to further improve the performance of Unilever. Almost all the factors of reward strategies and performance management are discussed and evaluated accordingly. Performance of the employees might be get affected if the rewards are not given to employees, so to motivate them furthermore the Maslow Hierarchy of need theory is also recommended to Unilever to make their employees loyal.
...s in the corporate world by setting new standards to promote and better satisfy their employees. We chose four leading companies in four different industries. The above analysis definitely reveals that perhaps one of the reasons why these companies are the leaders in their industry is because they are well aware of the importance of the work force. They mention in their mission statements as well that yes in deed customers are important but in order to make the customer happy they first need to motivate and satisfy the employee as well. According to Citibank, the general belief is that a happy worker is a motivated and loyal one. So keeping employees' spirits high is a sure-fire way of maintaining a productive workforce. A productive work force would ultimately lead to a healthy organization which would not only promote the society its working for but also itself.