Whole Foods Market Case Study Example | Topics and Well Written Essays - 2500 words

entire Foods Market - Case Study ExampleWFMs mission is Whole Foods Whole People Whole Planet, aiming to promote the vitality and swell up-being of all individuals by supplying the highest quality, most wholesome foods available (WFM Form 10-K, 2013, p. 1) thus the advert to Whole Foods. It follows, however, that the purity of the food provided WFMs customers is directly determined by the quality of the environment, therefore the reference to Whole Planet. Finally, the provision of good, healthy food and aliment of the environment can only be achieved by dedicated individuals working towards a common objective therefore the reference to Whole People. This analysis explores WFMs care and control strategies, adopting the paradigms of Porters generic strategies and the organisational theory by Coase/Williamson, respectively. It discusses the approach of WFM to substantial changes in terms of technology, products and services, and organisational structure, scheme and culture, an d explains how change policies have evolved in WFM. Finally, discussion is focused on WFMs virtual and self-managed teams which are the fundamental organisational units of the firm and the source of its competitive advantage. WFMs Business and Control Strategies Business dodging of WFM A business strategy, in its simplest definition, is the means by which a business organisation identifies and attains its goals (Porter, 1996). Devising a strategy for business begins with identifying the firms goal, and hence systematically formulating a plan by which the goal may be achieved. WFMs purpose is embodied in its mission and core values. Its strategy goes well beyond merely providing fresh foods. The vision emphasises that whole people are as important as whole foods that is, developing their human component to their fullest potential, allowing them the license to create and innovate, and the power to decide on matters that affect their sphere of work. Generic strategies based on Port ers typology (Parnell, 2013, p 184) Emphasis on finished Market or Niche Emphasis on Low Costs Emphasis on specialisation Emphasis on Low Costs and Differentiation Entire Market Low-cost strategy Differentiation strategy Low cost differentiation strategy Niche Focus low cost strategy Focus differentiation strategy Focus low cost differentiation strategy WFMs business strategy emphasises creativity and innovation which create a difference in the stores choice of product offerings and the quality of their service delivery, for the entire merchandise. This is the differentiation approach. This is the strategy that is ideal in markets dominated by large market leaders in this case, Wal-Mart which overshadows all other competitors in the grocery industry. Rather than going head-to-head with Wal-Mart and inevitably lose in the process, WFM could achieve greater business success if it distinguishes itself along key strategic points. These key attributes are those competitive factors th at the smaller grocer can develop but which Wal-Mart cannot easily duplicate, such as little hectic stores, superior selection of certain food products, or greater convenience to the customer (Parnell, 2013). WFMs favourable employee policies that develop a sense of appointment and ownership among its workers are evidenced by its annual inclusion in Fortune Magazine