final company strategic audit for whole foods market
TRANSCRIPT
Whole Foods Market Strategic Audit
Whole Foods Market Strategic Audit Part III Derek Schukow
Lakeland College
Whole Foods Market Strategic Audit
I. Current Situation a. The company has registered growth of 9.4% in the fourth quarter of 2014. This
shows steady growth in a strong market setting. Earnings per share appear to continue to grow with 2014 at 1.56 year end to a projected 1.72 year end 2015 and
1.93 in 2016 yearend earnings. (Zack’s 2015). The continued competition from other natural foods chains will play a large role in whether or not Whole Foods Market will be able to come close to meetings these goals.
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 which high
standards permeate all aspects of our company. Quality is a state of mind at Whole Foods Market.(Whole 2015).
iii. Objectives: 1. Values Matter
a. At Whole Foods Market®, "healthy" means a whole lot
more. It goes beyond good for you, to also encompass the greater good. Whether you're hungry for better, or simply
food-curious, we offer a place for you to shop where value is inseparable from values. (whole 2015).
2. Core Values
a. These eight values are the backbone of our company culture and how we aspire to do business every day – with
you, our supplier partners, our customer and worker communities, and each other. (whole 2015).
3. Quality Standards
a. We're serious about quality around here. We carefully evaluate products, and if they don't measure up, we don't
sell them. Many of those we do sell are certified or rated so that you can make the most informed choices for you. (whole 2015).
4. Responsible Farming a. We think food tastes even better when you also love the
way it's grown. Our Responsibly Grown rating system was created with growers, scientists and agriculture experts to rate our fresh vegetables, fruits and flowers on sustainable
farming practices. (whole 2015). 5. Seafood Sustainability
a. The health of seafood populations and their environments are important to us. That's why we are transparent about the wild-caught and farm-raised choices you'll find in our
seafood department. You can shop with confidence, without wondering where it comes from or how it was
raised. (whole 2015). 6. Animal Welfare
Whole Foods Market Strategic Audit
a. It's often easy to forget that the burger, chop or drumstick on your plate was once part of an animal. How was that
animal raised? How was it treated and what was it fed? Where did it come from? Unlike most of our competitors,
we believe the more you know, the better. (whole 2015). 7. Caring for Community
a. As a store that brings local and global products to you, we
believe that community extends beyond the boundaries of the towns and cities where we have stores. We're
committed to improving the lives and opportunities of people in communities around the world where we do business. (whole 2015).
iv. Strategies: 1. We sell the highest quality of natural and organic products
available. (whole 2015). 2. We satisfy, delight and nourish customers. (whole 2015). 3. We support team member excellence and happiness. (whole 2015).
4. We create wealth through profits and growth. (whole 2015). 5. We serve and support our local and global communities. (whole
2015). 6. We create ongoing win-win partnerships with our suppliers.
(whole 2015).
7. We promote the health of our stakeholders through healthy eating and education. (whole 2015).
v. Policies: 1. Code of conduct 2. Vendors of whole foods market gift policy
3. Board of directors policies for nominations 4. Audit committee policy
5. CEO succession policy 6. WFM expects all of its Team Members and Board Members to act
in accordance with the highest standards of personal and
professional integrity at all times. (whole 2015). 7. The Company is committed to a policy of inclusiveness. (whole
2014). 8. Team members support of happiness. (Whole 2015)
vi. As it appears written within the numerous policies pertaining how WFM
will do business the policies do correlate with the mission, objectives, and strategies.
II. Corporate Governance
a. Board of Directors
i. The Board of Directors consists of both internal and external members many of which have experience in companies associated with the food
industry. 1. Chairman of the Board: Dr. John B. Elstrott
Whole Foods Market Strategic Audit
2. Co-Founder; John Mackey 3. Co-CEO Walter Robb
4. Director of company Gabrielle Greene-Sulzberger 5. Hass Hassan
6. Stephanie Kugelman 7. Jonathan A. Seiffer 8. Morris Siegel
9. Jonathan D. Sokoloff 10. Dr. Ralph Z. Sorenson
11. William A. Tindell, III ii. Not specified iii. Publically traded
iv. The board members come from many different backgrounds. Many of which have served as founders of other companies, CEOs of food
companies or are in the law or education sectors including financial. They each bring to the board experience, direction, knowledge of corporate success and the ability to make sound judgment decisions relating to both
the company and the shareholders. v. The Board
vi. What is their level of involvement in strategic management? b. Top Management
i. The leadership team consists of many members each has a region of the
country they are responsible for. From (whole 2015) the leadership team are:
1. Scott Allshouse President, Mid-Atlantic Region 2. Michael Bashaw President, Midwest Region 3. Bart Beilman Global V.P., Distribution
4. Patrick Bradley President, Southern Pacific Region 5. Jason Buechel Global Vice President and CIO
6. Jeannine D'Addario Global V.P., Marketing & Communications 7. Laura DerbaPresident, North Atlantic Region 8. Mark DixonPresident, Southwest Region
9. Mark EhrnsteinGlobal V.P., Team Member Services 10. Sam FergusonGlobal V.P., Accounting/Controller
11. Glenda Flanagan Executive V.P. and Chief Financial Officer 12. Betsy Foster Global V.P., Growth & Business Development 13. A.C. Gallo President & Chief Operating Officer
14. Omar Gaye President, South Region 15. Bill JordanPresident, Rocky Mountain Region
16. Edmund LaMacchia Global V.P., Procurement — Perishables 17. Roberta Lang General Counsel and Global Vice President of Legal
Affairs
18. David Lannon Executive V.P., Operations 19. John Mackey Co-Chief Executive Officer
20. Lee Matecko Global V.P., Construction and Store Development 21. Cindy McCann Global V.P., Investor Relations
Whole Foods Market Strategic Audit
22. Ken Meyer Executive V.P., Operations 23. Christina Minardi President, North East Region
24. Juan Nuñez President, Florida Region 25. Brian O'Connell Global V.P., Operational Finance
26. Walter Robb Co-Chief Executive Officer 27. Joe Rogoff President, Pacific Northwest Region 28. Jim Speirs Global V.P., Procurement — Non-Perishables
29. Jim Sud Executive V.P., Growth and Business Development 30. Jeff Turnas President, United Kingdom Region
31. Rob Twyman President, Northern California Region 32. Margaret Wittenberg Global V.P., Quality Standards & Public
Affairs
ii. Because Whole Foods Market believes in a strong inclusive diverse team
many of the top members of the management team have experience higher education degrees in specialized fields that appear to strengthen the leadership overall. Where top leaders came from is not specified but is
can be assumed that there may be members from companies that either merged with WFM or were acquired by WFM.
iii. The WFM appears to have become profitable over the past few years with share dividends gaining since 2014 not much but they have grown. Also with growth and adding of more stores it appears the top leaders are
influential in how the company is performing currently. The leadership team is listed but the company does not have posted how long they have
been in their leadership positions. iv. It appears as if the company supports a more nontraditional approach to
managing. That means that all employees have a say in how the company
is run. One key item that points to this theory is the self-directed teams theory and incremental progress theory. Incremental progress suggests
that allowing team members a say that they can continue to help the company improve through freely offering creative ideas and improvements. Also this has a shared fate in that all shareholders share in
how the company does or profits. v. The top management share with the rest of the team in strategic ideas and
solutions. vi. The interactions between all levels of Whole Foods Market are
intertwined, meaning that all employees are empowered to be successful
from the lowest level to the top level. The company looks to all to give their highest potential which gives back the highest rewards.
vii. Because of the way WFM has their values set up which are key promoting environmentally sustainable foods they also promote transparency in the company. This helps in the company’s community involvement which the
company sees as their shareholders. The theory is that the community is part of the company as the community come to purchase the organic foods
that WFM produces and sells.
Whole Foods Market Strategic Audit
viii. Although it is not specified how much each shareholder owns the company does offer up highest pay to the top CEOs and bonuses to them
that will not be more than 19 percent of the top full-time employees wages.
ix. Looking over some of the top management names it is clear that if the company continues to grow and follow the mission, objectives and strategies the management will be skilled sufficiently enough to meet
future challenges. III. External Environment:
Opportunities and Threats (SWOT) A. Natural Physical Environment: Sustainability Issues
a. What forces from the natural
i. Climate change 1. Factory farms emit harmful gases and particles such as
methane and hydrogen sulfide, which can contribute to global warming and harm the health of those living or working nearby.(Grace 2015).
2. High usage of water depletes the water tables causing crops and areas to fall into drier climate conditions. (Grace 2015).
3. Many crops are grown in warmer climates areas which the United States does not offer such as bananas and tropical fruit which are grown in Mexico and South America (Guatemala,
Venezuela). 4. With the impact of numerous insects in the United States
many organic farms have become supersized green houses with controlled environments for growing produce. (Baird 2014).
ii. Weather-related
1. In Hydroponic greenhouse farms weather is not a fact since all conditions inside the greenhouses are controlled. (Baird 2014).
2. When grown in the outdoors yearly weather trends can cause organic farmers a slow or prosperous growing season. As seen in 2014 when California had long periods of drought which
caused increased temperatures and drier atmospheric air. Precipitation that did occur was not enough to satisfy crops
which caused lower yields overall. 3. The drier weather can cause farmers to use other crops for
cattle feed such as corn and other grains less suitable for cattle
diets. Also contributing to a greater use of polluted ground water for irrigation from around located near large factory
farms. (Grace 2015). 4. In the United States weather trends have varied with climate
change. In doing so growing seasons outdoors have become
longer in some years and shorter in other years. Also cold conditions have caused large crops loss especially in southern
states where fruit trees do not adapt to freezing temperatures. iii. Solar phenomena
Whole Foods Market Strategic Audit
1. Solar sunspots prediction for the next few years, “Quiet-to-average cycles mean a cooling pattern over the next few
decades”. (Almanac 2015). 2. If this cooling phase on Earth, however, is offset by any
warming caused by increasing greenhouse gases, they also raise the question of whether an eventual warming cycle could lead to more rapid warming on Earth than expected. (Almanac
2015). 3. Global climate change including long-term periods of global
cold, rainfall, drought, and other weather shifts may also be influenced by solar cycle activity, based on historical evidence. (Almanac 2015).
4. Future Solar spots will play a factor for outdoor organic dirt farming but should not affect greenhouse organic farms.
b. Do these forces have different effects? i. As seen in the past few years when looking at weather data collected
from the National Oceanographic and Atmospheric Agency,
Weather.com and the Farmer’s Almanac. W e see trends of future global warming slowing with the likelihood of fewer sunspots flaring
up. This will help to potentially strengthen the unpredictable chanced of high precipitation levels for outdoor farming. The continued growing factory farms will play a negative factor on water tables as the
need to spread and dispose of higher levels of waster manure will be an environmental concern. (Pollan 2006). This pollution will be
specifically related to how organic farmers grow their crops to continue to meet strict USDA guidelines.
B. Societal Environment
a. What general environment forces i. Economic
1. According to Goldman Sachs the global economy will continue to grow with an over average growth of world economy by 3.4%, Developed Nations by 2.2% and emerging markets by as
much as 4.9 %.( Goldman 2015). 2. This information from one investment research group shows
that there is enough stable growth in the economy from the perspective of the world.
3. The United States economic growth will be seen to grow from
2.2% in 2014 to 3.1% in 2015. (Goldman 2015). This is a potential sign the U.S. economy may not experience a mass
recession as it did in 2008. ii. Technological
1. Transportation methods will continue to become faster
allowing for more foods to be next day air delivered. iii. Political-Legal
1. Factors that continue to play a role in the food industry include: a. Seafood
Whole Foods Market Strategic Audit
i. As of today Whole Foods does not carry specific kinds of fish or seafood that are
designate RED tag by the Monterey Bay Aquarium Seafood Watch. (Whole 2015).
ii. As fishing regulation continue to be fought and the political arena of nations continue to loosely monitor fishing in the Pacific and Atlantic
Oceans the destruction of habitats and potential extinction of species will ultimately occur.
iii. Legally as of today Whole Foods Market will not sell illegally caught seafood or seafood that is in some way illegally over fished or from a
region that poses human health threats. iv. Sociocultural
1. The organic tagged culture in the United States appears to be growing as health concerns become more publicized. The want for foods not contaminated with pesticides, hormones and other
additives is a concern the government is looking to help control as well. (Pollan 2006).
2. The growing desire of having foods not native to a region is also continually growing along with the ease of obtaining foods from all around the world the next day. This trend will
continue to grow. 3. The threat of importing potentially harmful foods is becoming
easier as foods are flown in from South America and Asia daily. These regions can pose health risks as the environments the foods are grown in are polluted and unsafe for most human
consumption. But the want is there which will cause consumers to desire what they don’t normally have.
b. Are these forces different in other regions The forces are very much different in regions. As the economic growth in one region is higher than the types foods desired grows. This is especially
true for organic foods since they tend to be priced higher than non-organic foods. Other forces such as transportation will play a role in the food industry
as well as seafood industry. This in particular will be a negative factor for stores such as Whole Foods Market that supports safe foods and safe harvesting methods. Stores in the United States will continue to have USDA
tagged foods and The Safina Center tagged seafood. The Stores in the United Kingdom may offer foods native to Europe that are organically grown but at
lower prices because of demand. The economic growth of the world will show that overall the monetary availability is there for consumers to buy what they want.
C. Task Environment a. What forces drive the industry competition?
i. Threat of new entrants
Whole Foods Market Strategic Audit
1. Current treads lead to more franchise stores to carry grocery foods.
a. This is true for Target stores b. Wal-Mart stores which now carry foods labeled as
organic. c. Small markets that are growing such as Woodman’s
Market will play a larger role as more stores are built.
d. Aldis food chain is also growing and starting to carry produced labeled organic.
e. Festival Foods stores also will become more competitive in the organic foods and controlled harvested seafood markets.
ii. Bargaining power of buyers 1. It appears locally as I noticed that consumers will go to the
stores that offer best prices, overall ease of shopping, and ease of accessibility.
2. Consumers will continue to pay higher prices for desired
special food items but not a high rate if left to choose between organic and non-organic they will choose non-organic if
cheaper. iii. Threat of substitute products or services
1. It is unknown if there is a real threat in substitute products
currently as the availability of so many food species is readily available in most markets including Whole Foods Market.
iv. Bargaining power of suppliers 1. As listed by Whole Foods Market it appears that Suppliers
have very little bargaining power other than not selling to
Whole Foods Market. The WFM has strict policy guidelines to follow for suppliers and if not followed it is stated the items
may be rejected at the stores loading docks. No suppliers have to follow strict policies with WFM. However it is not listed about prices of items. (Whole 2015).
2. It is also of strict policy for potential suppliers to go through an inspection and documentation process before WFM will
approve of new items to be sold in their stores. (Whole 2015). v. Rivalry among competing firms
1. It is known that large store chains such as Wal-Mart and Target
for example will compete for customers. 2. Some grocery food chains will accept competition coupons or
match prices in order to attract consumers from competition. 3. As stated by Harasta and Hoggman in the text, “The power of
the whole foods Brand will gradually decline over time as it
becomes more difficult for consumers to differentiate Whole Foods’ value proposition from that of its
competitors.”(Wheelen 2015). vi. Relative power of unions, government, special interest groups
Whole Foods Market Strategic Audit
1. Whole Foods Market is part of the special interest groups in many ways;
a. They support the Safina Center and Monterey Bay Aquarium Seafood Watch organizations and sell
seafood tag safe by these organizations. b. WFM appears to be a strong support of following
government regulations and appear to support
guidelines by the government. This suggests that the power from the government is not seen as a threat to
WFM but a positive relationship. c. Not really mentioned about unions specifically by
Whole Foods Market. It is stated that employees are
happy at WFM because they are allowed to be part of the solutions.
b. What key factors in the intermediate environment The Key factors in the intermediate are specifically competition of rival food chain stores. This could cause the Whole Foods Market label to become
less desired as larger chains offer similar products. The consumer driven wants for safer foods may drive Whole Foods to become stronger in the
market place against competition. The availability of organic foods and safe harvested seafood will become a bigger player as consumer awareness of unsafe harvesting and environment conditions affect foods by the media.
D. Summary of External Factors (List in the EFAS Table 4-5, p.121)
External Factors Analysis summary: Whole Foods Market
External Factors Weight Rating Weighted
Score Comments
1 2 3 4 5
Opportunities
Economic growth of Europe and Asia
0.05 3 0.15 Industry growth
Demographics favor quality foods 0.20 4 0.80 healthier lifestyles
Economic development of countries
0.05 3 0.15
industry growth in foreign countries
increased government fishing regulations
0.10 3.5 0.35
greater number safe fish offered
Growth on 2.5 0.13 more organic
Whole Foods Market Strategic Audit
greenhouse hydroponic farms
0.05 produce to offer
-
Threats -
Decline of organic farms
0.05 2 0.10
based on consumer demands
Decline of safe water supplies
0.10 3.5 0.35
attributed to factory farms & pollution
Competing Chain Stores
0.20 4.5 0.90
less distinction between WFM label
Consumer demands 0.05 2 0.10 questionable
Environmental disasters (drought)
0.05 3.5 0.18
unpredictable long lasting affects
Total scores 1 3.20
What of these factors are the most important to the corporation?
Of the factors listed above in the chart it appears that competition from other food chain stores will play a major factor in future success and growth of Whole Foods
Market. The second factor is economy which is associated with consumer demands. The two will go hand in hand as the economy grows stronger so will the available funds to purchase safer healthier foods such as organic produce, safe seafood, and
healthy raised meats. The economic falls can have a negative affect by slowing the demand for healthier foods and trending the consumers tasted to cheap alternatives at
discounts stores such as Wal-Mart.
IV. Internal Environment:
Strengths and Weaknesses (SWOT) A. Corporate Structure
a. How is the corporation structured at present? i. As it is not directly stated by appears within writing in WFM Board of
Director’s mission statement and the company’s leadership team
design. The decision-making authority is decentralized to multiple groups. These groups are Presidents of regions and V.P. of various
operations within each region. (Whole 2014). ii. The corporation is set up into regions and Vice Presidents that support
the entire global franchise:
Chief Operating Officers
President and chief Operating Officer
Executive Chief Financial
Officer
Co-Chief Executive Officer
Executive V.P. Operations
Co-Chief Executive Officer
Executive V.P. Operations
Whole Foods Market Strategic Audit
Presidents
1. Mid-Atlantic Region
7. Rocky Mountain Region
2. Midwest Region
8. Northern California Region
3. South Pacific Region
9. United Kingdom Region
4. North Atlantic Region
10. Florida Region
5. Southwest Region
11. Northeast Region
6. South Region
Global V.P.
Quality Standards & Public Affairs
Growth and Business
Development
Procurement Non-Perishables
Operational Finance
Construction and Store Development
Procurement- Perishables
Distribution
President and CIO
Marketing and Communications
Team Member Services
Accounting/ Controller
Growth and Business
Development General Counsel and Global V.P. of Legal Affairs
b. It appears that the roles of each member in the management and executive
levels are clearly defined. The WFM website boasts its leadership team and has a fairly well set up layout of who has what role and position. (Whole 2015).
c. The present structure is set up to meet corporate objectives and strategies with the divisions of leadership within regions carrying out the objectives and
strategies of the corporation. The Global team of V.P. positions appear set up to cover and create a strong overlay of responsibilities within the services and programs structures. The Global V.P. positions appear set up to meet each of
the core values with respect to policies, community and organic product line strategies and programs to create a strong team at WFM.
d. Comparing WFM to High Liner Foods of Canada (High 2015). It appears that the structure of WFM does in fact compare well to other companies in the specialized food industry. WFM has a well established regional division
which puts presidents in each region to carry out the mission, core values, and leadership/ team approach needed to keep WFM stores successful. The board structure of WFM is closely similar to HLF, the policies set up for the boards
of directors for both corporations have experience in the food market arenas and education background for sound decisions. WFM has a team leadership
structure that certainly puts it in a strong position to lead from internally in order to maintain growth within the company.
B. Corporate Culture
a. There is a strong well-defined culture within WFM. As observed within the company’s website it is noted throughout that the company is proud of its
team approach. All team members are allowed to think independently and
Whole Foods Market Strategic Audit
offer ideas for improvement. (Whole 2015). The core values of the company are well defined and set a strong tone for a healthy work environment within
WFM. b. The current culture within WFM meets and in many instances exceeds the
core company objectives. The mission of growing and distributing sustainable healthy foods is only part of the corporate culture. The core values set the company firmly above many other companies. The strategies
appear to be strongly supported by all team members, partly in response to the value of happiness and excellence within members. The programs that WFM
supports also mix within the company’s core values of healthy living and giving to support local communities. The positive atmosphere described within the team member stories and values sets the internal culture in the
direction to be part of the solution of the company’s success. (Whole 2015). c. The strong belief within the core value of sustainability meets and exceeds
basic understanding of defined environmental sustainability. According to WFM’s core value of seafood sustainability; the company supports only fish caught in green tagged manners and the company does not offer most sea food
species that are known to be raised or caught in a manner that depletes, stresses or kills large numbers of species. (Whole 2015). Listed by WFM
their sustainability and future are, “starting to implement this new vision of the future by changing the way we think about the relationships between our food supply, the environment, and our bodies.”(Whole 2015). The areas of
emphasis are; holistic thinking in a conventional world, holistic actions for a sustainable world, healthy foods and healthy products begin at the source,
sustainable beyond organic foods, respect for all forms of life, education and public participation, regulation, enforcement and accountability, invitation to join WFM’s vision. (Whole 2015).
d. First it appears that Whole Foods Market is continually reaching out internationally by building new stores in the United Kingdom and extending
into mainland Europe along with incorporating organic foods from Europe into their supply chain. (Whole 2015). It does state that WFM is not interested in the current Asian markets. (Whole 2015). The growing organic culture in
the consumer tastes is leading other companies to also offer organic foods, it is leading WFM to continue to spread their company store about clean
seafood, healthy and select perishable products and the continued support of employee interaction within stores. The company continues to support transparency in business. The competitive market will continue to grow
which will lead WFM to look internally for new solutions and new ways to continue to grow and compete. The company seems to continue to support
and promote high quality work ethics and quality performance as stated in their core values. (Whole 2015).
e. The one area that Whole Foods Market is strong in is its diversity of
backgrounds in their workforce. They look for employees who support the company core values which are based on employee happiness and excellence.
There is no division in terms of who is or is not in charge because the core value for employees also states, “Our success is dependent upon the collective
Whole Foods Market Strategic Audit
energy and intelligence of all of our team members. We strive to create a work environment where motivated team members can flourish and succeed to their
highest potential. We appreciate effort and reward results.” (Whole 2015). They key elements are, “empowering work environments, self-responsibility,
self-directed teams, open and timely information, incremental progress, and shared fate.” (Whole 2015). These key areas set employees up for being part of the team and ensures company cohesiveness.
f. It appears as of current company locations that they do in fact take into consideration not only the regional cultural values of stores which are
managed by separate leadership teams. They also seek to bring local foods that are certified and approved by WFM to stores such as foods grown and harvested in the United Kingdom are sold in those stores. Foods grown and
harvested in the United States are sold in stores in the US and in the UK. The overall culture within each region is very much part of the local communities
and this is part of the core values within WFM because the employees are part of those communities.
C. Corporate Resources
A. Marketing a. Whole Foods Market Core Values.
i. The core values are clearly stated. ii. The core values are consistent with the
corporation’s mission, and support it internally
and externally.\
Whole Foods Market Mix Variables
Product Place Promotion Price
Quality Locations Advertising Discounts
Healthy Inventory Community involvement Sales
Organic Local Publicity List price
Natural Channels Sales promotion Competitive
ocean safe Online Sales
Perishables Non-perishables
Satisfy
b. In terms of performance it appears that there is a solid mix of variables
internally and externally in the company. The options in national market and the United Kingdom market appear to support the company. This company
appears to be supported by a smaller group of customers who have a flavor for safe, nourishing, healthy food products. The overall market for the store’s organic products shows an increasing demand nationally. The slight loss is in
Whole Foods Market Strategic Audit
foreign markets in Canada and the U.K. The growing market is in the U.S. where competition is steadily growing is still seeing growth. All sales
currently come from developed nations. The current products are continually being introduced although most appear to be in between growth and maturity
stages of the life cycle.(Whole 2014).
i. “We believe the growth in sales of natural and organic foods is being driven by numerous factors, including:
A. heightened awareness of the role that healthy eating plays in long-term wellness;
B. a better-educated and wealthier populace whose median age is increasing each year;
C. increasing consumer concern over the purity and safety
of food; and D. Environmental concerns”. (Whole 2014).
ii. The impact on past performance has been positive with a slump in 2012 with the U.S. sales growing but concerns in the international
market will have an impact on sales in the year to come.(Whole 2014). iii. Currently as it appears the company’s strategic decisions is supported
by this analysis with growth and expansion being important to the future of the company.
iv. It appears that today marketing is providing a slight competitive
advantage as long as the company continues to offer on-line sales and other bonus perks including recipes. This concept will continue to
bring consumers to the site increasing the chances for future sales. c. The company’s marketing performance is comparable to other stores. WFM
shows greater profitable growth in the organic market today, WFM has the
competitive advantage with pricing and choices being greater.(Nasdaq 2015). d. It appears that the current marketing concepts are working for WFM. The
company has a strong product portfolio that is well researched with consumer selections in mind. The products are selective for quality keeping them in the growth stage of the life cycle. WFM welcomes consumer feedback which
includes employee feedback in product decisions. e. Yes WFM does allow marketing to adjust to each country that the chain stores
are located in. With community programs influencing the local markets. f. All decisions that WFM makes reflects the company’s stance on
environmental sustainability.(Whole 2014).
g. It appears but not stated exactly that the marketing manager role is one of key emphasis on current and future product trends in regions in order to support
the strategic plan of growth and expansion of WFM stores. 2. Finance
A. The company’s current financial objective is growth and cash
flow; strategies of expansion and introduction of healthy foods, policies continue to reflect the core values, and programs
financially supporting community gardens and healthy food programs and profits through growth. (Whole 2015).
Whole Foods Market Strategic Audit
a. It is stated in the 2014 WFM shareholder report. b. Yes, the area consistent with the company’s mission,
objectives, B. Using the 2014 shareholder report data it shows the company is
profitable and shareholdings continue to outgrow the S&P 500 with an increase in quarterly dividends by 20 %.( Whole 2014). Current trends show the company is balanced in relation to
cash flow; the products being offered support the business. The investors’ expectations are increase in dividends from $0.12
per share dividends in fourth quarter in 2014 to continue to grow making current dividends per share at $1.60 and share prices at $56.145(NASDAQ 2015).
a. The trends reflect continue growth of WFM with current authorized stocks at $800 million. (Whole
2015). b. No significant difference noted c. The impacts from past performance show that over the
course of the past 5 years WFM has made significant steps increasing profits and shareholder worth. The
future is going to continue to show stock growth in the next year. (Whole 2015).
d. As of today the analysis does support the corporation’s
pending strategic decisions. e. Completive advantage from finances certainly is a
positive reflection as the net worth of the company will continue to grow.
C. Comparing WFM with other competitors stocks it looks like
WFM is consistently outperforming by as much as 14% higher than the closest competitor. (NASDAQ.com 2015).
D. Yes, financial manages for WFM are using acceptable financial concepts and techniques as reflected in the cash flow statements.(Whole 2015).
E. Finance appears to be consistent throughout the company in the U.S and internationally in Canada and the U.K.
F. It does not appear that finance copes with global finance issues other than how the markets are in Canada and the U.K.
G. The role of the financial manager is to compile financial
results, annual reports, interactive data, and continue to monitor and adjust to the current company stock and
shareholder dividends. (Whole 2015). 3. Research and Development
a. Research is not clearly noted by WFM. Development is showing that
objectives of expansion into new or renovated stores is being successful, strategies of community involvement by funding community gardens and
educating the consumers about environmental sustainability and healthy foods which go along with policies and company programs. (Whole 2015).
Whole Foods Market Strategic Audit
i. They are clearly stated and able to be found on the cash flow statements and by the profit growth.
ii. They are consistent with the company’s mission iii. The only role technology appears to play is by use of the internet
for online sales and resources on the company website and Electronic invoicing.
b. The return the company is receiving is continued profit growth,
expansion of the franchise into new stores gaining new customers, expanding education of healthy foods.
c. The company’s investment in development compares positively to similar development of competitors. It is also using value-chain alliances appropriately for competitive advantages in expansion.
d. It does not specify if development and technology change per country the company is operating in.
e. The company is using current buildings and renovating them instead of clearing land and building new stores which goes with the company’s mission of environmental sustainability.
f. The Development manger’s role covers expansion possibilities in cities for current or future franchise stores, following the company core values
to find and develop buildings in for future stores. 4. Operations and Logistics
a. Current service objectives are to provide nourishing, delicious foods; healthy and
environmentally friendly, strategies are to offer friendly service from staff and the core values, community based programs. (Whole 2015).
i. They are clearly stated in the annual and quarterly budgets. ii. The company core values meet the service objectives, strategies, policies
and programs.
b. The company operations consist of supplying chain stores with perishable and non-perishable products. The products for U.S. and Canada stores are grown
locally and seafood is only offered when in season and in a limited quantity. The U.K. stores function in a similar way. There is little outsourcing in terms of products only which are still from the U.S. or surrounding areas. Very little
seafood (fish) come from the Pacific and only properly tagged safe fish from the Atlantic Ocean are offered for sale. The outsourcing for grown foods is
appropriate for the stores to be competitive. The purchasing is being handled and approved by V.P. of perishables and V.P. of non-perishables for the company. The WFM team only offers business to suppliers who meet the company’s core
values and obligate to follow those policies. It is not listed which products are offer highest or lowest profit margins. (Whole 2015).
i. N/A ii. The service chain operates in renovated buildings to conserve the
environment. The service is continuous with online options being offered
as well. The service teams are self-disciplined and it appears evaluations are performed routinely for efficiency. No automation appears to be used
by the company and products are transported to stores via supplier transportation.
Whole Foods Market Strategic Audit
c. The service facilities are stores in numerous regions of the U.S., Canada and United Kingdom. The stores located on the coasts are vulnerable to hurricanes,
snow storms and flooding, the stored located inland throughout the U.S. are also vulnerable to tornados and flooding. The countries the stores are located in are
advanced economies with not reason for change. The suppliers are vulnerable to droughts, and other environmental disasters which can cause reduced amounts of certain products. With the potential threats to supplier products it is possible
prices may vary yearly based on product demand and supply. (Whole 2015). d. The company seeks to hire a diverse team of team members each team in each
store comes from the local communities that surround the store. e. WFM performs above average when compared to other natural foods markets.
The operations data shows the cost of goods and inventory on hand is relatively
balanced within products being just in time or stocked above needs. The break down to each store averages shows that each store is maintaining at low operating
in terms of general store expenses. The 2014 report shows the buildings each store is leasing or purchased are operating within limits with less than .01% of stores being closed or leases terminated. (Whole 2015).
i. Some trends I notice are that the stores are running on a tighter budget with operational expenses averaging under $5,000 a month with overall
totals being about $8,000 a month to operate and sales averaging $12,000 a month. Noticeable are that cost of goods is staying low and inventory stocks remaining low enough not to affect overall operating expenses.
(Whole 2015). ii. These impact in 2011-2013 have remained low in comparison to sales and
cost of goods, the future prediction is that the stores will continue to be profitable with operating costs increasing slightly over time.
iii. It appears that the analysis supports the pending strategic decisions within
WFM pertaining to operations of each store and required inventory and operating expenses.
iv. The operations may provide competitive advantage to other natural food stores.
v. It appears that operations managers are using appropriate concepts to
evaluate and improve current performances; this is due to the company core value of employees working with self-guidance and being part of
process improvements. The stores are currently using electronic invoicing systems in the stores which are a cost control system for inventory. (Whole 2015).
vi. Operations do not appear to adjust to conditions in each country they have stores operating in.
vii. Operations do consider environmental sustainability when making decisions since the company’s core value is environmental sustainability in foods and in store operations.
viii. The role of the operations manager or V.P. in WFM is to consider the company core values, consider how to directly bring cost savings to each
store and directly deliver it to the customers. The responsibility of
Whole Foods Market Strategic Audit
keeping inventory up to date in each store and oversee that supplier contracts are approved and products meet WFM standards. (Whole 2015).
5. Human Resources Management a. The company’s current HRM objectives, strategies, policies and programs;
empowering work environment, self-responsibility, self-directed teams, open & timely information, incremental progress and shared fate.(Whole 2014).
i. These are clearly stated from the company core values and the 2014 report.(Whole 2014).
ii. These are consistent with the company’s mission b. It appears that the company strives to find employees that work together as
a team as stated in their core values. The company policy is to support
happiness and team member excellence. (Whole 2015). i. The trend that stands out most is that the company strives to create
a healthy work environment consistent with allowing employees to be part of the solutions.
ii. Their past performance and future performance will be a direct
result of the team approach the company has for each store. If it stays consistent then happy stores mean positive profits.
iii. Yes this analysis does support the company’s past and pending strategic decisions.
iv. This area is a total company advantage to competitors
c. The performance shows that a company that supports the employees appears to show stronger customer relations. (Whole 2015).
d. It appears that the company shares with all employees in its performance successes and also in shared fate if a store is low in sales. (Whole 2015).
e. It is not mentioned if WFM operates differently in each country it has
stores in but if the company abides by their core values them all stores work together.(Whole 2015).
f. Diversity does not seem to be a problem it appears that the company follows all EO and affirmative action laws. (Whole 2015).
g. The company does have a code of conduct and it is enforced internally and
externally extending to all their suppliers. (Whole 2015). h. The role of outsourcing at WFM does not appear to be enough to show
information about. 6. Information Technology
a. The company IT objectives, strategies, policies and programs are
not listed specifically. It is assumed that the IT follows the same mission as WFM as a whole.
a. IT mission is merely implied b. Unknown
b. The company’s IT appears to be performing well if the successes
of the website, electronic invoicing from suppliers and internal communications functions are any sign.
Whole Foods Market Strategic Audit
a. The trends observed from external sites shows that WFM has a functional IT department that meets the company
needs. b. The IT performance does seem to be a huge influence
currently and will continue in the future as the WFM continues to offer online product purchases and relevant information to healthy food choices.
c. This analysis does support the company’s present and future strategic decisions.
d. It does not appear that IT provides the company with a competitive advantage except in terms of online web functions which does exceed what competitor stores offer
to the customers and shareholders. e. The IT stage of development is not clear except that it is
using the internet to its advantage for getting the company’s image, values and support to consumers.
f. It is assumed the IT managers are using appropriate
concepts and techniques to evaluate and improve the company’s performance.
g. The company does have a global internet presence which is easy to access from anywhere, the data is all listed in English as of what I was able to identify.
h. The Role of the IT manager is not identified but can be assumed to continue to improve the communications,
internet access, website and links for the company and being able to allow shareholders easy access to company reports.
V. Analysis of Strategic Factors A. Situational Analysis
Whole Foods Market SFAS Summary
Internal Strategic Factors Weight Rating
Weighted Score Comments
Strengths
S1 Experienced upper management 0.1 4 0.4 Understand the grocery business
S2 Quality based foods 0.1 5 0.5 Quality products are key to success
S3 Employee relations 0.2 3 0.6 Excellent, continues to be a cornerstone
S4 Community based programs 0.1 2.2 0.22 community education toward healthy eating and gardening-success
S5 Reduce, reuse, recycle 0.05 2 0.1 Recycling, better bags(biodegradable), environmental friendly
Weaknesses
W1 Limited advanced technology 0.1 2 0.2 Greater emphasis automated picking and delivery (warehouse)
W2 Distribution channels 0.1 2 0.2 Supermarkets gaining customer loyalty in organic foods
W3 Process oriented supply chain 0.1 2.1 0.21 Time lapse for approving new suppliers
Whole Foods Market Strategic Audit
W4 Online market place 0.1 2.2 0.22 Better use of online sales will greatly enhanced product sales
W5 Global positioning 0.05 2 0.1 greater emphasis in growing into new countries along the Atlantic
total Scores 1 2.75
External Strategic Factors
O1 Opportunities Weight Rating Weighted Score Comments
O2 Economic growth of Europe and Asia 0.1 3 0.3 Industry growth
O3 Demographics favor quality foods 0.2 4 0.8 healthier lifestyles
O4
Economic development of countries 0.1 3 0.3 industry growth in foreign countries along the Atlantic Ocean
O5
increased government fishing regulations 0.1 3.5 0.35 greater number safe fish offered
Growth on greenhouse hydroponic farms 0.1 2.5 0.25 more organic produce to offer
Threats -
T1 Decline of organic farms 0.1 2 0.2 based on consumer demands
T2 Decline of safe water supplies 0.1 3.5 0.35 attributed to factory farms & pollution
T3 Competing Chain Stores 0.1 4.5 0.9 less distinction between WFM label
Total scores 1 3.45
Duration
Strategic Factors Weight Rating
Weighted score Short Intermediate Long Comments
S2 Quality based foods 0.1 5 0.5 x Quality products are key to success
S5 Reduce, reuse, recycle 0.05 2 0.1 x
Recycling, better bags (biodegradable), environmental friendly
S3 Employee relations 0.2 3 0.6 x Excellent, continues to be a cornerstone
W3
Process oriented supply chain 0.1 2.1 0.21 x x Time lapse for approving new suppliers
W4 Online market place 0.1 2.2 0.22 x x
Better use of online sales will greatly enhanced product sales
W5 Global positioning 0.05 2 0.1 x
greater emphasis in growing into new countries along the Atlantic
O3
Economic development of countries 0.1 3 0.3 x x
industry growth in foreign countries along the Atlantic Ocean
O5
Growth on greenhouse hydroponic farms 0.1 2.5 0.25 x x more organic produce to offer
T2 Decline of safe water supplies 0.1 3.5 0.35 x attributed to factory farms & pollution
Whole Foods Market Strategic Audit
T3 Competing Chain Stores 0.1 4.5 0.45 x less distinction between WFM label
Total Scores 1 3.08
B. Review of Mission and Objectives
1. Are the current mission and objectives appropriate in light of the key strategic factors?
a. The mission and objectives for Whole Foods Market appear to identify a common thread throughout the company’s values as listed on the company website. (Whole 2015). The mission does demonstrate to the
managers, customers, and shareholders the where WFM stands today and the company’s mission and objectives for the future. When
comparing divisions of WFM it appears that in most cases the common thread binds each value together with the others. As it appears today the key core values, quality standards, responsible
farming, seafood sustainability, animal welfare and caring for community complement each other in the mission and objectives of
WFM. These key values appear to match the strengths the company has today and will stay with the company as it moved forward.
b. The business strategy of WFM looks as if it will continue to grow and
be a strong competitor in the whole foods market place. That means that even though the competition of larger food chain stores offering
similar products all chains will be competing for the same consumers. As WFM establishes new stores in communities its foot print will become larger making accessibility easier for consumers to access
WFM’s products.
2. Should the mission and objectives be changed? Yes. a. There are areas that could be strengthened in order to give WFM a
greater edge on the competition.
i. The cost of the products offered by WFM are on the higher side both online and it appears in stores as well.( Whole 2015).
ii. The competition has their own suppliers, as long as WFM continues to screen and only use suppliers that offer transparency in safe products they will continue to be
profitable. This also can be a positive for consumers as well as they are becoming more educated on healthier foods and
harmful effects on the environment because of lack of sustainability in most regions.
iii. The largest option is to continue to grow WFM chain stores in
the US and throughout nations along the Atlantic Ocean. These regions can put WFM head to head with the competition
and it may help in procuring new suppliers in countries that WFM is currently not in.
iv. Greater presence in the online market place.
Whole Foods Market Strategic Audit
v. Establish hydroponic farms in regions that don’t have farms including foreign countries which will allow for a larger
selection of foods to be offered in WFM stores globally. 3. If they are changed, what will be the effects on the firm?
a. If WFM established stores in new countries along the Atlantic Ocean including Ireland, Scotland, main land Europe including France, Germany, Norway and the Netherlands as examples it will have a
positive effect on sales, and the idea of eating healthy. b. If continually expansion into these new markets is possible then it
would have a positive effect on profits. c. The use of new expansion technology such as greater presence in the
online market would allow consumer the opportunity to purchase
WFM products that they normally would not be able to purchase due to location of the consumer.
d. By creating opportunities in hydroponic farming it will create a differentiation of uniqueness of brand that can make WFM more competitive.
e. By focusing on such areas as expansion and the idea of lower costs may follow. This effect will offer up more stores and more suppliers
are into WFM market. Thus creating more opportunities for safe, healthy, nutritious foods in regions that normally have limited foods would expand.
VI. Strategic Alternatives and Recommended Strategy A. Strategic Alternatives
a. The current objectives of Whole Foods Market can be met with the careful implementation of the present strategies with a few exceptions
i. By fine tuning the current international business in the United
Kingdom and expanding both into Ireland, Iceland and mainland Europe by establishing WFM stores.
ii. By redeveloping more old businesses in regions that are currently not offering WFM products including the upper Midwestern U.S.
iii. By supporting education on Hydroponic farms in Europe to grow
greater healthy perishable products in colder climates. iv. Recent adoption of Instacart program for grocery delivery and online
commerce and Apple Pay program has yielded good results. (WFM 2014).
v. Expansion of Apple Pay for Instacart customers. (Eshna 2015).
b. Major feasible alternative strategies available for Whole Foods Market. i. Stability, Growth, retrenchment
1. Stability- i. Pros: The Company’s current five year plan shows a
projected growth continuing from 2014 thru 2016. This
is in part because of store growth and development in urban centers. Also with continued presence in the
organic health foods industry steadily growing.(Zack’s 2015).
Whole Foods Market Strategic Audit
ii. Cons: With continual industry growth in larger food chain stores the desired company growth projection
may become skewed if consumers choose lower priced organic foods are larger stores such as Wal-Mart and
Sam’s Club. The overall stability of WFM may stay at today’s growth or become slow or fall because of it.
2. Growth
i. Pros: Establish hydroponic farms in regions that don’t have farms including foreign countries which will allow
for a larger selection of foods to be offered in WFM stores globally.
i. With new farms means new jobs created.
ii. New positions within the company means new opportunities for employees who want to learn
farming or hiring of new employees to run the farms.
iii. If expansion into new countries is possible it
will yield greater opportunities to shareholder profits.
iv. With a greater online presence the opportunities of new consumers will expand.
ii. Cons: some communities may not want large
hydroponic farms constructed. The local populations by not be large enough to support the food supply
grown by the farms. i. New positions mean more employees on the
payroll and a greater need to continue store and
profit growth. ii. Cost leadership, Differentiation
1. Cost Leadership i. Pros:
i. Advertising of WFM products allows the
consumers to want these products even more versus buying unhealthy products. More
advertising may yield a greater consumer market which may lead to greater sales and profits.
ii. WFM prices are on the high side in the internet market place. This can be perceived by
consumers as meaning the products are above standard and better for them.
iii. By lowering the cost of certain non-seasonal
products the consumer market may grow. iv. Offering more sales and discounts to loyal
customers would benefit overall profits ii. Cons:
Whole Foods Market Strategic Audit
i. Greater cost spent to advertise WFM products which take away from profits.
ii. It is not guaranteed that offering discounts to loyal customer will keep them returning for
future business. iii. By offering sales customers may only purchase
those sale items and nothing else offered by
WFM. 2. Differentiation
Pros: i. A greater product identification creating a
greater differentiation of WFM products from
other large franchise stores’ products. ii. By differentiating the benefits of WFM’s
organic and healthy foods compared to competition stores similar products.
iii. By creating a unique online and in-store
customer loyalty program the customers will see benefits of buying from WFM versus other
franchise stores such as Sam’s Club. Cons:
iv. If unable to create greater product identification
WFM would be so similar to other larger franchise markets which will lead consumers to
shop other lower prices stores buying less healthy products.
v. Without creating a unique tag of products
healthy for the body, mind and soul WFM will not be able to compete in a growing market with
larger competitors who build on low cost quality foods.
iii. Potential functional strategic alternatives that might be needed for
reinforcement of an important corporate or business strategic alternative.
1. Financial Strategy: i. In the past few years WFM has had great success at
company buyouts of smaller organic companies with
unique product lines. By continuing to leverage buyouts this will benefit WFM in bringing in new products to
consumers. ii. With leverage buyouts WFM is able to benefit on those
current managers who are successful in their stores or
product lines that can offer new ideas to how WFM distributes and sells their products.
iii. The ability to grow is also under this function with WFM continually looking for new buildings to expand
Whole Foods Market Strategic Audit
into in urban communities it opens up greater consumer markets.
B. Recommended Strategy a. Specific strategic alternatives recommended.
i. Direct marketing approach to better identify Whole Foods Market brands.
ii. Look for new opportunities to expand Whole Foods Market in
Countries along the Atlantic Ocean which currently do not have WFM stores.
iii. Establish hydroponic farms in Europe, Ireland and the United Kingdom to expand and educate European consumers on healthy organic food options.
b. Recommendations supporting details i. Resolving long-term problems
1. In terms of direct marketing of WFM brand it is best to compete on a national and international playing field in order to compete with large chain stores such as Wal-Mart. The
problem is brand identification needs to be greatly different than what large chains are advertising.
2. With establishing new stores in new countries it will be a long process to gain customer support and government regulations need to be met in order for WFM to establish new stores in
countries such as Ireland, Iceland and mainland Europe. Time line from start to opening of first stores could be as long as five
years in estimation. 3. Building any hydroponic farms outside of the U.S. and Canada
would mean obtaining permits and government support which
may take time to develop a plan that would meet regulations of host countries. Also training farmers about new hydroponic
farm techniques and maintenance would also be time consuming. Again estimate of five years to establish first farm.
ii. Resolving short-term problems
1. Consumer support appears to be positive when they look for healthier food options.
2. Gaining overall support for hydroponic farms that may be smaller and able to grow a larger variety of organic products would be an easier sell when land resources are minimal.
3. The idea of low pollution farming could be supported by governments if they farms show economic growth and
employment opportunities for local residence. 4. A simple international marketing approach that gets out the
message of WFM products and the values the company has in
building healthy communities may be a niche that other large chain stores don’t offer. It may lead to an easier way of getting
the consumer market to search out WFM stores for safe food products.
Whole Foods Market Strategic Audit
c. Policies in need of development and or revised to guide effective implementation.
i. The policies of international business or global market need to be revised to address new market opportunities.
ii. The policies that pertain to establishing and maintaining hydroponic farms owned or co-owned by WFM need to be created.
iii. Addressing current policies that pertain to how WFM markets its
product and stores will need to be revised as new markets open up for WFM in new countries and communities.
d. What is the impact of your recommended strategy on the company’s core and distinctive competencies?
i. Impact on core competencies.
1. The overall impact on providing healthy organic safe options to consumers will be impacted in a positive manner with more
consumers gaining knowledge of healthy eating habits supported by WFM.
2. The opportunities for WFM core competency of growing in
new communities by establishing stores in current vacant buildings and offering new owners a chance at having WFM in
their communities. Demonstrating a recycle attitude versus clearing large amounts of land to build super stores.
3. Education of healthy lifestyles will again be spread to new
consumer markets. 4. The core value of safe farming will be expanded possibly
international with the establishment of safe eco-friendly hydroponic farms.
ii. Impact on distinctive competencies.
1. We Sell the Highest Quality Natural and Organic Products. (Whole 2015).
2. We Serve and Support Our Local and Global Communities. (Whole 2015).
3. We Practice and Advance Environmental Stewardship. (Whole
2015). 4. We Serve and Support Our Local and Global Communities.
(Whole 2015).
Whole Foods Market Strategic Audit
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Whole Foods Market Strategic Audit
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