Crafting and Executing Strategy

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Running Head: EXECUTING STRATEGY Crafting and Executing Strategy Whole Foods Assignment # 1 Strayer University BUS 599: Strategic Management Spring 2013 Develop an argument supporting the importance of a strategic plan for the success of the defined business. For the success of the defined business, in this case for Whole Foods Market, the importance of a strategic plan is unquestionable. In Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases Arthur A. Thompson, Jr., A.J. Strickland III, and John E. Gamble (2009) state that “a company’s strategy is management’s action plan for running the business and conducting operations” (p.6). They go on to further explain that a company’s…show more content…
The more customers that promote their experiences and happiness with Whole Foods Market, then the more they will want to continue to do business with them and potentially grow with the company as a whole and help more and more customers become a part of the Whole Foods Market customer base. Create a vision statement for the company explaining how the vision statement supports the company’s mission. Thompson, Strickland, and Gamble state that “a strategic vision delineates management’s aspirations for the business, providing a panoramic view of ‘where we are going’” (p.25). They go on to say that a strategic vision can only function as a valuable management tool it must do two things – illuminate the company’s directional path, and provide managers with a reference point for making strategic decisions and preparing the company for the future. Whole Foods Market’s vision statement is its Declaration of Interdependence: “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 Food Market. Our motto – Whole Goods, Whole People, Whole Planet – emphasizes that our vision reaches far beyond just being a good retailer. Our success in fulfilling our vision is
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