The Triple Bottom Line Of Whole Foods Market

According to the text, the triple bottom line approach to corporate accounting includes three components:

Whole Foods is a retailer that specializes in organic foods and it has done an excellent job of determining its target market and how to position itself. Instead of going head to head with large food retailers such as Wal-Mart, Whole Foods has found a niche market that works perfectly for itself. This niche market is one that prides itself on being health conscious and environmentally responsible and Whole Foods has done a great job of positioning itself in the same way through its environmentally safe actions and its use of the local community to stock its stores. However, as Whole Foods grows and expands, a person has to wonder if the company will be able to maintain this same position or will have to make

Fast and processed food consumers are passive victims of food industry franchises. Such consumers usually purchase these food items, without questioning the cost or the origin. None of us ever stop to think how fresh or hygienic the food is. Does the processing procedure decrease the nutritive value of the food? Were chemicals used in the growing of it and if so is the food then dangerous? Would the food item be cheaper if the advertising, transportation, and packaging costs were excluded? ("Pleasures of Eating - Wendell Berry | Center for Ecoliteracy"). Industry consumers have no inkling the conditions under which these foods were produced; no idea of the type of farms, techniques or impediments that the

On averaged their stores are roughly 38,000 square feet and their locations typically carried 21,000 SKUs. They make two-thirds of its revenue by selling bakery, perishable items, and prepared foods. (Ager & Roberto, 2014). Peoples tend to shop at Whole Food Market because of their high-quality natural and organic food. In today’s world peoples are more concern about health concise and effect of pesticide products, more people choose to have organic fruits and vegetables. Whole Foods get most of their produces from local people which are natural and organic, which will help them gain more customer than other company because of increasing demand of organic food (Whole Foods Market History, n.d). They also have a strong brand image and they were the first supermarket who commit to completely eliminating disposable plastic grocery bags to help protect the environment. They also sell many USDA-certified organic

A triple bottom line model never merely quantifies an accomplishment or rather the wellbeing of a company through its conventional monetary bottom line. However, triple bottom line similarly measures social, ethical as well as environment performance of the company. Triple bottom line typically is an incessant process that shall assist the company in concentrating into the performance of a more sustainable business whereas demonstrating to local communities together with employees of that particular firm that is not merely looking forward on profit making, but similarly a greater common good for the company operations (Hitchcock and Willard, 2009).

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 has become the world’s largest retail chain of natural and organic foods supermarkets. Not only is their focus to transform the way consumers look at food and its natural benefits, Whole Foods is looking to make a difference in the world with their products. Whole Foods appears to be in a rapidly growing market. Whole Foods has worked hard to set their products apart from other grocery retail chains and while their prices might still be considered high across the board, their products are geared towards a more health conscious individual who is willing to pay more for a healthier product.

Whole Foods is a supermarket that has successfully become the leader in the organic food segment of the grocery industry. While traditional markets have low brand loyalty and recognition, Whole Foods has focused almost entirely on its brand image, causing their strategy to be one of differentiation over cost leadership. Whole Foods is known as being far more expensive than other chains, due to this brand recognition. In their press release for the Q4 2014 results, they describe their vision and sum up what helps them develop that brand recognition. “We hold the idea of “food” to a higher standard, banning more than 75 ingredients commonly found in other stores, and we believe our unparalleled quality standards

Whole Foods Market, Inc, is an Austin, Texas based foods grocery that has the finest natural and organic food available, including produce, seafood, grocery, meat and poultry, bakery, prepared foods and catering, beer, wine, cheese; in addition to whole body, floral, pet products, and household products. Whole Foods is among the most profitable health food retailers in the United States. The rapid growth and market success has much to do with having remained a uniquely mission-driven company, highly selective about what they sell, dedicated to their core values, stringent quality standards, and committed to sustainable agriculture.

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:

The triple bottom line is an accounting framework that incorporates what is commonly referred to as the three P 's: people, planet, and profit.

Whole Foods Market Inc. is known as America’s healthiest grocery store. The company has been recognized as “Most Admired 2015 Companies” and “Top 100 Companies to Work For” by Fortune for eighteen years, stating, “The supermarket chain has redefined grocery shopping in the U.S”. The establishment has been also been ranked at number 3 on the list of America’s most reputable companies in the retail industry. The recognitions and awards represent the decades of passion and dedication of the Whole Foods Market’s

Whole Food launched it’s Whole Trade Guarantee in April 2007, it was an initiative emphasizing the social responsibility and equitable compensation for producers from the developing world. Whole Foods justifies the its program as a commitment to benefiting to all stakeholders. The program reduced immediate profitability by paying foreign workers better wages, the investment improves relationships, improves the company’s reputation, and serves as a great example of the Whole Foods’ commitment to social responsibility.

A triple bottom line model never merely quantifies an accomplishment or rather the wellbeing of a company through its conventional monetary bottom line. However, triple bottom line similarly measures social, ethical as well as environment performance of the company. Triple bottom line typically is an incessant process that shall assist the company in concentrating into the performance of a more sustainable business whereas demonstrating to local communities together with employees of that particular firm that is not merely looking forward on profit making, but similarly a greater common good for the company operations (Hitchcock and Willard, 2009).

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.