Whole Foods Market in 2010: Vision, Core Values, and Strategy
Whole Foods Market 2010 1
The synopsis of the Whole Foods case discusses the ideas and strategies used by the
co-founder and current CEO, John Mackey in taking Whole Foods Market from a small, local store in Austin, Texas and turning the company into one of the nation’s largest retailers of natural and organic supermarkets.
The success of Whole Foods is due to the intelligent business strategies used by the company. Strategies were used in all elements of the company including those regarding growth, location, product line, pricing, cost controls, merchandising, marketing, operations, ...view middle of the document...
The core values developed by the management of Whole Foods are real and provide the foundation on how Whole Foods conducts its operation. The success of the core values is obvious by the pride both management and employees take in the product lines and customer service offered. One example is the cooking and educational classes offered by Whole Foods stores, which promotes the core value of promoting the health of stakeholders through healthy eating education. Another example of Whole Foods following its core values is illustrated by the implementation of the Green Mission Task Force which promoted ending the use of disposable bags at checkout counters and changing its distribution vehicles to biodiesel fuel.
Overall, Whole Foods financial performance is notable. It is apparent that the performance of the company is positive and continuing to expand their operations. In today’s unpredictable economy, this accomplishment is difficult for many expanding companies. A review of Whole Foods financial reports reflect consistent increase in sales from 2005 to 2009, however, the cost of goods increased also. The consolidated balance sheets reflect that Whole Foods has experienced an increase in total assets, total shareholder’s equity, and a decrease to total liabilities.
Strategically, Whole Foods is right on point. Whole Foods holds a competitive advantage over its competitors due to the company’s ability to establish more stores across the
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nation, offer a variety of products by region or state, and provide specials and discounts to their customers.