Introduction
Whole Food Market is a company that taps organic foods market in America, Canada and the United Kingdom. Registered in 1980, it has grown into a respectable company in the food sector with a number of diverse outlets ranging from supermarkets to trading stores. Its key drive is availing foodstuffs that do not contain artificial chemicals to its customers. It seeks to promote healthy living that takes into account the importance of environmental protection. This is without compromising its purpose for business.
Synopsis of the Situation and Key Issues
The company has undergone massive transformation over the years. It is committed to quality and service delivery. With time and growth, the conditions that form the environment for the company have been changing. This dynamism has brought with it the necessity to re-examine these environments: both internal and external in order to come up with measures to ensure it continues to survive.
Of prime focus is the immediate physical environment of its operational units, the internal factors that facilitate its operation- such as employees, the target market, competition from other players in the industry as well as its policies and attributes- financial, moral or otherwise. All these factors play a significant role in determining the success and thus survival of the company.
Problems Defined
Such internal factors as employee dissatisfaction and or lack of motivation may lead to high rates of employee turnover as well as poor performance by those that remain with the company. Engagement of such factors as technology may be a challenge especially when the firm does not adapt to changes in its production plants in the processing line. Moreover, the company’s policies and operational attributes may be in danger of compromise due to the prevalence of avenues to fraud because of the nature of the products involved.
The company needs to understand the nature and distribution of the customers that form the lifeline of Whole Food Market. The variation of their movement, age and functional distribution and the general response to the products offered by the company is not static over time.
This change in the market needs to be examined to maintain relevance and ensure customer attraction and retention. There is also the entry into the industry by other firms that deal with provision and supply of organic foods in regions where the company is involved in. These competitors- such as Trader Joe’s Company present challenges in terms of customer service and commodity pricing. The company therefore has to share the market with them, and cannot ignore them.
Alternative and Selected Solutions to the Problems
It should ensure proper remuneration and compensation of workers as well as recognition of exceptional performance and availing equal opportunities for growth for all employees. Acquisition of technology that minimises costs and furthers the company’s goals when processing also contributes to attainment of its goals.
By studying the demographic distribution and market structure, the company is able to tap these markets effectively. To counter competition, the company has to maintain high standards in customer service and quality of products. Adoption of measures to ensure it attracts more customers as it retains those it already has is also critical, besides affordably pricing its wares with respect to its competitors (Hill and Westbrook, 1997).
Implementations and Recommendation
Whole Food Market has ensured that some of these solutions are implemented in its operations- good working conditions for employees as well as opportunity for growth, and maintains good customer relations. The quality of its products and customer service is always high, and constantly studies its market to ensure it meets its needs. Recommendation to the company is that it should expand to more European countries to tap their markets’ potential.
Conclusion
Whole Food Market’s strengths and the way it has and can still make use of its opportunities has enabled it counter its weaknesses, besides evaluating the threats to its existence. As a result, the company’s perpetuity is not compromised by factors it can foresee, but is rather prepared to face and use them for its own advantage (Armstrong, 1996).
References
Armstrong, M. (1996). Management Processes and Functions. London: CIPD.
Hill, T. & Westbrook, R. (1997). SWOT Analysis: It is Time for a Product Recall. Long Range Planning. Oxford: Oxford University Press.