Whole Foods Market in 2010
Tiffin University
Unit 2 Case Response
Whole Foods Market in 2010: Vision, Core Values and Strategy
Submitted for
MGT 622 (Section 90)
Strategic Management
Dr. Tara Davis
By:
Michael Bond
May 26, 2013
As you read about Whole Foods and their specific strategies what struck you as positives and/or negatives. Are there certain strategic elements that were particularly insightful about what Whole Foods does? Are there any glaring weaknesses that could jeopardize their success? “Whole Foods Market was founded in Austin, Texas, when four local businesspeople decided the natural foods industry was ready for a supermarket format” (Whole Foods Market.com). From the humble beginnings of one store and 19 employees (Thompson, etc., 2012), Whole Foods Market has grown to 278 stores and “$29 million in sales annually by 2010” (Thompson, etc., 2010, p. C-10). A key item that every organization needs is a mission statement. This is where the group defines just exactly what they are about and what they want to accomplish. Once you have that, you can begin to devise strategies and plans to make that statement a reality. The mission statement can also help to get customers to buy into the group. The vision (i.e. mission statement) according to CEO and co-founder John Mackey is “Our deepest purpose as an organization is helping support the health, well-being and healing of both people and of the planet” (Thompson, etc., 2010, p. C-10). The thing that struck me the most was the complete and total dedication to that concept by the organization. I like to tell people “Don’t tell me what you’re going to do, show me.” You can have the best vision in the world, but if you don’t back it up, then it not worth a hill of beans. Whole Foods backs up their vision with a list of seven core values (Thompson, etc., 2010, p. C-11-12). These are the things that are very important to the company. As a result, all the plans and strategies that they
Unit 2 Case Response
Whole Foods Market in 2010: Vision, Core Values and Strategy
Submitted for
MGT 622 (Section 90)
Strategic Management
Dr. Tara Davis
By:
Michael Bond
May 26, 2013
As you read about Whole Foods and their specific strategies what struck you as positives and/or negatives. Are there certain strategic elements that were particularly insightful about what Whole Foods does? Are there any glaring weaknesses that could jeopardize their success? “Whole Foods Market was founded in Austin, Texas, when four local businesspeople decided the natural foods industry was ready for a supermarket format” (Whole Foods Market.com). From the humble beginnings of one store and 19 employees (Thompson, etc., 2012), Whole Foods Market has grown to 278 stores and “$29 million in sales annually by 2010” (Thompson, etc., 2010, p. C-10). A key item that every organization needs is a mission statement. This is where the group defines just exactly what they are about and what they want to accomplish. Once you have that, you can begin to devise strategies and plans to make that statement a reality. The mission statement can also help to get customers to buy into the group. The vision (i.e. mission statement) according to CEO and co-founder John Mackey is “Our deepest purpose as an organization is helping support the health, well-being and healing of both people and of the planet” (Thompson, etc., 2010, p. C-10). The thing that struck me the most was the complete and total dedication to that concept by the organization. I like to tell people “Don’t tell me what you’re going to do, show me.” You can have the best vision in the world, but if you don’t back it up, then it not worth a hill of beans. Whole Foods backs up their vision with a list of seven core values (Thompson, etc., 2010, p. C-11-12). These are the things that are very important to the company. As a result, all the plans and strategies that they