Preview

Whole Foods Market Audit

Satisfactory Essays
Open Document
Open Document
382 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Whole Foods Market Audit
Whole Foods Market Strategic Audit I Current Situation
a. Whole Foods Market, Inc. (WFM) reported on July 3, 2016 the results for 12 week third quarter. Total sales increased to a record $3.7 billion. Comparable store sales decreased 2.6%. Net income was $120 million, or 3.2% of sales, and had diluted earnings per share of $0.37 this equated to 8.8% of sales and adjusted return on capital was 13%. During the third quarter the company produced $189 million in cash flow from operations, returned $44 million in quarterly dividends to shareholder, and repurchased $195 million or 6.5 million shares of common stocks. Whole Foods Market ended the quarter with $1.1 billion of available capital. Also during the third quarter Whole Foods Market opened their second 365 by Whole Foods Market store. This store is designed for affordability and convenience and aims to deliver a fresh new format to the marketplace. (WFM)
b. Strategic Posture i. Are they clearly stated? ii. Mission: 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 …show more content…
Objectives: The corporate objective of “Whole Foods Market is to branch out in becoming an international brand synonymous with not just natural and organic foods, but also with being the best food retailer in every community,” Wholefoodsmarket.com (WFM,2012). Their motto is, “Whole Foods, Whole People, Whole Planet,” with emphasis that their vision reaches far beyond a food retailer. Whole Foods Market understands that all shoppers, not just natural and organic food shoppers, appreciate great produce in all aspects of their food. It is WFM business and functional objective to provide excellent customer service and to provide excellent products to their customers and an excellent experience shopping in their stores. (Coursehero,
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Powerful Essays

    SIB429 Whole Food
    • 3764 Words
    • 12 Pages

    SIB429 Whole Food

    Whole Foods Market is natural foods, fresh foods supermarket chain. John Mackey, Rene Lawson Hardy, Craig Weller and Mark Skiles founded the whole foods market in Austin, Texas. Originally, in 1978 Rene Hardy and John Mackey borrowed 45,000 dollars from relatives to open a natural foods store in Austin Texas. Two years later, they partnered with Craig Weller and Mark Skiles merging their natural foods store SaferWay with Weller and Skiles Clarksville Natural Grocery. The resulting new natural foods store was named Whole Foods Market and opened in 1980. This store had 10,500 square feet and a total staff of 19.…

    • 3764 Words
    • 12 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Traders Joes Vrs Whole Foods
    • 1382 Words
    • 6 Pages

    Traders Joes Vrs Whole Foods

    Whole Foods Market is a foods supermarket which emphasizes "natural and organic products, the largest U.S. natural and organic grocer.…

    • 1382 Words
    • 6 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Whole Foods Executive Summary
    • 2425 Words
    • 10 Pages

    Whole Foods Executive Summary

    In 2012, Whole Foods was the industry leader with having over 30% of the Organic Market sales. Whole Foods has continued to have increasing sales and profit growth every year. Their net income gain has quadrupled since 2008, going from $114 million to $456 million. (Market Watch) They have been able to sustain a higher gross margin and to increase sales while maintaining costs of expenses, which is currently at…

    • 2425 Words
    • 10 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    Whole Foods Strengths And Weaknesses
    • 271 Words
    • 2 Pages

    Whole Foods Strengths And Weaknesses

    Whole Foods Market has managed to build a strong brand reputation and has achieved having unique products in their stores. They’ve mastered the ability to offer high quality organic food and carry a variety of products, which most organic markets are not able to achieve. Furthermore, when visiting their stores customers are welcomed into a positive employee environment (Whole Foods SWOT, n.d.).…

    • 271 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Whole Foods Triple Bottom Line
    • 243 Words
    • 1 Page

    Whole Foods Triple Bottom Line

    Whole Foods has been one of the most successful publicly traded companies operating under the tenets of the triple bottom line.…

    • 243 Words
    • 1 Page
    Satisfactory Essays
    Read More
  • Powerful Essays

    Situation Analysis for Whole Foods Markets
    • 5601 Words
    • 23 Pages

    Situation Analysis for Whole Foods Markets

    The cornerstone of Whole Food’s strategy is to carry the highest quality, lowest processed-foods, and the most flavorful and natural preserved foods available. Whole Foods deepest purpose is to help support the health, well being, and healing of people (customers, the Whole Foods team, and businesses) and the planet. John Mackey, cofounder and CEO of Whole Foods, attributes the rapid growth and success of Whole Foods to developing and maintaining a uniquely mission-driven company; a company that is highly selective about what is sold, that remains dedicated to its core values and high quality standards, and is committed to sustainable agriculture. Whole Foods wanted to be the international brand for natural and organic foods and be the best food retailer in every community in which Whole Foods Markets were located. The chief elements of Whole Foods strategy are as follows:…

    • 5601 Words
    • 23 Pages
    Powerful Essays
    Read More
  • Good Essays

    Whole Foods Mission Statement
    • 824 Words
    • 4 Pages

    Whole Foods Mission Statement

    Whole Foods financial performance seems to be on an upward trend after suffering from the recession in 2008. Earnings per share increased in 2009. No dividends were declared in 2009, however, shareholders are likely willing to…

    • 824 Words
    • 4 Pages
    Good Essays
    Read More
  • Better Essays

    Whole Foods Strategic Plan
    • 1273 Words
    • 5 Pages

    Whole Foods Strategic Plan

    Whole Foods Market, Inc. which is headquartered in Austin, Texas, is an American foods supermarket chain it was founded by John Mackey who currently serves as the CEO of Whole Foods. To sum up their mission and vision statement, Whole foods as a company strives to help out in promoting positive health and well-being of people, this includes team-members, customers and the whole planet in general. Some of their core values include:…

    • 1273 Words
    • 5 Pages
    Better Essays
    Read More
  • Good Essays

    Whole Foods
    • 652 Words
    • 3 Pages

    Whole Foods

    1. The chief elements of the strategy that Whole Foods Market is pursuing are whole foods, whole people, and whole planet. The whole foods portion describes the type of product being offered. The products are as close to natural as possible. Whole people describe the type of environment the employees have at Whole Foods Market. The employees are treated fairly, passionate, and highly motivated. Lastly, whole planet refers to the responsibility companies and individuals have on the planet. Practices like sustainable agriculture helps protect the environment and farming.…

    • 652 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Whole Foods Mission Statement
    • 659 Words
    • 3 Pages

    Whole Foods Mission Statement

    Whole Foods is a recognized as a brand known for providing the best organic and natural food. Internal matters can discomfort corporations because it jeopardizes how investors and customer perceive the company. It’s necessary to understand the roots of the decisions taken from the company by analyzing their mission statement. A mission statement reminds managers, employees, and stakeholders the purpose and primary objectives of the organization. In the mission statement from the company’s 2016 10-k, it states that “Whole Foods aims to set the standards of excellence in food retailing. Our success is measured by customer satisfaction, team member happiness and excellence, return on invested capital, active environmental stewardship, service in our local and global communities, and win-win supplier partnerships, among other things.” Whole Foods allows stores to operate differently, empowering the managers to make decisions and giving them the freedom to perform activities independently. Nevertheless, managers need to follow corporation guidelines, report and measure performance. They must act in the best interest of the company to achieve the objectives. The CEO and top management should always remind and emphasize the mission statement to the staff. All four functions must work together to…

    • 659 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Whole Foods Mission Statement
    • 698 Words
    • 3 Pages

    Whole Foods Mission Statement

    The mission statement of the Whole Foods Markets stems from its Motto, and its Core Values and Quality Standards direct the words of the…

    • 698 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Customer Perspective Of Sainsbury's
    • 470 Words
    • 2 Pages

    Customer Perspective Of Sainsbury's

    The basic objective is to ensure better lives of their customers by providing them with safe, fresh, healthy and tasty food.…

    • 470 Words
    • 2 Pages
    Good Essays
    Read More
  • Powerful Essays

    Whole Foods
    • 1021 Words
    • 5 Pages

    Whole Foods

    * Whole Foods Market was founded in 1980 working with natural and healthy foods in Austin, Texas; it’s one of the world’s largest of natural and organic foods supermarkets. In 2009, the sales total $8 billion and had 289 stores in the U.S. The Whole Foods Market plans to come up with strategies to help improve the company but to do so understanding the core values plays a major role in the company’s planning. The strategies they want to improve the growth strategy, store location strategy, product line strategy, pricing, control expenses, and merchandising strategy. This company values keeping all its products natural meaning minimally processed, largely or completely free of artificial ingredients, preservatives, and other non-naturally occurring chemicals, and as near to their whole, natural state as possible.…

    • 1021 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Better Essays

    Whole Foods Market
    • 1462 Words
    • 4 Pages

    Whole Foods Market

    B. Mission Statement - Barbara Farfan who writes for about.com states, “The mission statement of the Whole Foods Company and Whole Foods Markets begins with its motto, which is "Whole Foods, Whole People, Whole Planet" The Whole Foods mission explains and defines what that motto means. This mission explanation includes..."Whole Foods - We obtain our products locally and from all over the world, often from small, uniquely dedicated food artisans. Whole People - We recruit the best people we can to become part of our team. We empower them to make their own decisions, creating a respectful workplace where people are treated fairly and are highly motivated to succeed. Whole Planet - We recognize the connection between our lives, our communities and the environment."” Based on this mission statement provided by about.com, Whole Food’s mission does satisfy all the requirements of an ideal company mission statement. Whole Food’s mission statement identifies the company’s products. The mission statement specifies the customer’s needs that it seeks to satisfy. Their mission statement also gives Whole Foods their own unique identity.…

    • 1462 Words
    • 4 Pages
    Better Essays
    Read More
  • Better Essays

    Whole Foods
    • 2291 Words
    • 10 Pages

    Whole Foods

    From the fairly humble beginning of being a one-store entrepreneur living on the third floor and taking baths in the dishwasher, John Mackey has seen his 1978 Safer Way grocery store grow into an $8 billion a year corporation. As of September 2008, Whole Foods had 264 stores in the United States, six in Canada, and five in the United Kingdom. Whole Food’s is now the leading chain of natural food supermarkets in the United States. The company 's stores average 28,500 square feet in size and feature foods that are free from artificial preservatives, colors, flavors, and sweeteners. They also offer many organically grown products. Many locations include in-store cafes and juice bars. Whole Foods has also developed a growing line of private label products such as organic pasta, freshly roasted nut butters, oak-aged wine vinegars, and aromatic teas. After the company was founded in 1980 with a single store, it grew dramatically into a chain of more than 130 stores in 25 states, the District of Columbia, and Canada. It is a Fortune 1000 company, ranked as the 41st largest U.S. supermarket and the 730th largest U.S. company overall. There are few companies that attract the kind of following Whole Foods and its CEO/founder has both among its customers and the national media. Their corporate website averages more than 50,000 visitors a day. Through a long series of acquisitions, John Mackey has created a niche retailer which enjoys lofty profits in a very price competitive industry that is typically characterized by accordingly low profit margins. Whole Foods had 275 stores, and 50,000 plus team members in 2008 with a goal of 1,000 stores open in the future (Whole Foods Market, 2008a).This ever-evolving, often controversial organic retailer is facing several major strategic issues in both its external and internal…

    • 2291 Words
    • 10 Pages
    Better Essays
    Read More

Related Topics