2010
6/21/2010
Whole Foods Market
Comprehensive Plan to Improve the Quality of Selected Human Resource Management Practices
Table of Contents Whole Foods Market: Introduction 4 Whole Foods Market: The Organization 4 Whole Foods Market: Challenges and Opportunities 5 Whole Foods Market: Human Resource Management Strategies 6 Whole Foods Market: Recommended Strategies for Improvement 8 Whole Foods Market: Plan Evaluation and Measurements 10 Whole Foods Market: Conclusion 10 References 11
(Retrieved from Whole Foods Market website at http://wholefoodsmarket.com/storesbeta/columbus/)
Whole Foods Market: Introduction Whole Foods Market- a company that doesn’t think of itself as a company, but as a community
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This year, 2010, the company’s business model includes continued focus on vital areas of the company by focusing in on purchasing with regards to the business while creating more worth for the consumer regarding pricing (Whole Foods Market, n.d). In the letter to the stakeholders (2009), Mackey, CEO desires to stay focused on dropping operating cost without harming the customer experience. Additionally, he states that as an organization they are committed to being better custodians of capital and producing free cash flow on a yearly basis. In the future, Mackey foresees new smaller stores that are less expensive, and an increase return on invested capital.
A recent 2009 SWOT Analysis of the organization from Datamonitor (2009) listed some additional opportunities such as the recent strategic acquisitions that helped in strengthening their market position. These acquisitions also help the organization to expand its operations in the natural and organic foods markets as well as increase its client base and the number of product categories. One acquisition in particular is the merge with Wild Oats Market in 2007. Other opportunities recorded by Datamonitor (2009) include the growing demand for private label products. Recent economic conditions have warranted companies to offer less expensive private label products as an alternative to the customers’ needs.
Whole Foods Market: Human Resource Management
1. Define and explain the significance of the term ‘derived demand’ as it applies to Strategic Human Resources Planning. (5 marks)
Consumers view Whole Foods Markets as being very expensive and have given the retailer the nickname “Whole Paycheck”. Whole Foods carries a wider variety of organic foods and healthier brands besides their private brands. Whole Foods is experiencing a decline in sales due to other stores; like Wal-Mart, who are stocking organic foods at much lower prices; which has decreased differentiation (Lutz, 2014). Its decentralized business model decreases efficiency in procurement, distribution, and marketing efforts.
Whole Foods Market’s first retail location was in Austin, Texas. Today there are 342 stores in the United States, Canada and the United Kingdom. The growth of this health conscious conglomerate happened over the years by strategic acquisitions of profitable independent stores throughout United States. Mackey’s idealism and respect is exhibited in his openness about the contributions of these retailers to the success of WFM, as the website provides an in depth summary of each acquisition and its contribution to promoting healthier food choices (Whole Foods Market History, 2014). After four years in Austin, Texas WFM branched out into the city of Houston when it purchased the Whole Foods Company, and shortly after, on the west coast, a new store was built in Palo Alto, California. Subsequently WFM began aggressive acquisitions over the next few years, which help to accelerate the growth rate of WFM in other geographical locations. In 2002 WFM opened in Canada and in 2004 through the acquisition of United Kingdom’s grocery chain Fresh & Wild, it opened seven stores. Holistic eating is a worldwide affair that WFM is taking advantage
Workplace violence has been a growing issue for decades and can stem from any number of reasons. In the case of Christopher Dorner, there were a series of events and factors that ultimately led to the revengeful killing spree he embarked upon including his own demise. Although Dorner’s motives remain unclear, it can be analyzed that racial insecurity, organizational differences, and workplace revenge were key elements. In his earlier years, Dorner experienced stints of racism while attending a primarily white populated grammar school. As he overcame those difficulties, he later attended college followed by enlisting in the United States Naval Reserve.
Marketed as ‘America’s healthiest grocery store’ the company has successfully grown to 408 stores across the world with sales of $14 billion in 2014 (Whole Foods Market, 2015). The firm is positioned as an upmarket grocery due to the emphasis on natural, organic origins, and as a result are able to charge a premium for their products. Through efficiently running its operations and stores, Whole Foods are able to maintain healthy 4.02% profit margins (Financial Times, 2015) and operating margins well above the American grocery store industry average at 6.58% (Bloomberg, 2015). Looking at 2015’s quarter 1 figures it is clear to see that Whole Foods have had a hugely successful year with sales of $4.7 billion, up 10% from the same period last year. Furthermore, they opened 9 new stores and have signed a further 11 new leases.
Whole Foods Market has expanded by a mixture of opening its own new stores and acquiring already existing stores. Today WFM does not follow this strategy, instead their motivation is to open its own large stores. This is due to noticeable sales differences in larger stores as opposed to smaller stores. WFM locates these newer stores in upscale areas of urban metropolitan centers and high-traffic shopping locations. Not all WFMs are isolated structures; some are located in strip malls. WFM offers a larger selection of natural and organic foods than any other grocery store. WFMs marketing expenditure is extremely small. They spend a measly 0.5% of their revenues on advertising. Their chief marketing strategy relies on word-of-mouth. WFM strives to meet or exceed customer expectations. This is so customers receive competent, knowledgeable, and friendly service and become advocates of WFM. The employees here have a decentralized team approach for store operations. This is so some personnel, merchandising, and operating
The director of human resources job is really important. The director of human resources promotes and implements human resource values by planning and managing human resources programs and directing staff.
1. Ch 1, page 60-61, question 4: What is “evidence based HR”? Why might an HR department resist becoming evidenced based?
Winglets increase the life of engines because they reduce the engine thrust required to push the aircraft through the air. The engines of aircraft with winglets will use between 2% to 6% less fuel. The table below shows the fuel savings of a blended winglet on different aircraft. The fuel savings also result in the aircraft having a larger range. Different aircraft and routes experience different savings.
Whole Foods Market began in 1970 as a local supermarket. Over the past 31 years, Whole Foods Market has grown from a single store in Austin, Texas, to becoming one of the worldwide leaders in providing consumers with natural and organic foods. They have grown to over 300 stores in both North America and the United Kingdom. (Whole Foods Market, Inc., 2011) This report examines the chief elements of the strategy that Whole Foods Market has put into place. Also, it uses past financial data to provide an assessment of the condition of the company going forward. Those assessments include recommendations of future actions, along with concerns I have about the way the company is currently operating and some difficulties that may be on the way.
Johann Gutenberg was a German man, who’s parents owned a mint shop when he was a child. He most likely learned how to work with metal here. Books at the time were very rare. Because there was no such thing as printing, monks had to copy books by hand which often took longer than a year and included mistakes made by the monks. Most of the books were only available to monks and scholars. In Gutenberg’s spare time, he began working on the printing press. He made sure to keep the idea a secret too, he didn’t want anyone to steal it from him. To make the printer, Gutenberg had made metal pieces shaped into letters. Several of those letters were then pressed into a frame to spell out words, sentences and paragraphs. The letters, covered in ink would
2. Give some examples of ethical issues that you have experienced in jobs, and explain how HR did or did not help resolve them.
People are biggest asset for every organization and, therefore, to draw, motivate, and preserve the most skilled employees and assign them to jobs for which they are exceptionally well suited is a responsible job for human resource. Therefore, human resources management is done in all type of organizations. Profound management of people is equally indispensable in success of organizations as the sound management of production, finance, and other operations. The human resource management field postulates the infinite diversity of people and their dynamics (McKenzie & Traynor, 2002). To get into this career field, one must have the required education degree by completing many different courses, and have the experience along with skills and
The role of the human resources (HR) department can play a significant role in the success and achievements of an organization. The department, which has evolved from the
Human Resource Management involves a wide array of functions that encompasses the time from when an employee enters an organization to the time the employee leaves the organization. The specific activities that are involved in HRM include job design and analysis, recruitment, orientation and placement, development and training of the personnel, employee remuneration, and performance appraisal (Aswathappa, 2007: 5). This paper shall focus on three main activities which are recruitment, training, and personnel development. When it comes to recruitment, it is incumbent upon the Human Resource Manager to bring into the workforce, employees that are both wiling and competent to accomplish specific tasks. The work of recruitment goes hand in