Whole Foods Market is a natural and organic
food store chain that started in 1980 when four local businesspeople from
Austin, Texas took the natural food industry to the supermarket format.
They opened the first store
with a staff of 19 people, which quickly became a success. At that time, there
were just a few natural food supermarkets in the US. Now, it has more than 500
stores in North America and the UK. In 2017, its net
sales accounted for USD 16 billion.
How does WFM make
money?
The business model of Whole
Foods Market is the operation of retail stores where people can buy
natural, organic food and private-label items as well as vegan and gluten-free
products.
In 2017, the company was
acquired by the Internet giant Amazon for more than USD 13 billion. Many
analysts have wondered if Amazon/Whole Foods Market is
a monopoly now that serves some of the most essential needs for the
Americans in terms of commerce. Undoubtedly, this provides the company with a
lot of power
and control.
The organization is committed
to bringing the finest natural and organic food available maintaining the
industry’s strictest quality standards and supporting sustainable agriculture
while adding. They also seek to add fun and excitement to grocery shopping. Whole Foods Market competitors are Trader Joe’s and
Sprouts Farmers Market.
Mission Statement
Whole Foods Market’s mission statement is: Our purpose is to nourish people and the
planet. We’re a purpose-driven company that aims to set the standards of
excellence for food retailers. Quality is a state of mind at Whole Foods
Market.
WFM’s mission statement explained through its components
Nourish people and the
planet: It aims at
providing healthy food to sustain and support the people’s
bodies but also thinking about the land, the community, and everyone involved
in the process of producing food. It encourages humans to live well.
Purpose-driven
company: This
concept goes beyond having a clear mission focused on generating economic value
for the company. It speaks about a higher purpose that reflects an aspirational goal
involving people with the organization to make a difference and give them a
sense of meaning.
Set the standards of
excellence for food retailers: They have defined standards of
excellence to
achieve the top quality products from their providers. This includes organic
food on the best conditions of freshness, texture, flavor, and variety. The
retailers must work with food free of toxic and chemicals commonly used on
conventional products but this doesn’t mean that they are primitive. They
foster the crop rotation to vary the nutrients that the soil receives, cover
crops to protect it, the release of beneficial insects to control pests and
adding compost and plant wastes.
Quality is a state of
mind at WFM: Taking
care of all the food production process and demanding high standards from the
retailers, Whole Food Market can guarantee the quality of the products it
offers.
Core Values
Whole Foods Market’s core values are:
Selling the highest quality natural
and organic foods.
Satisfying and delighting their
customers.
Promoting team member growth and
happiness.
Practicing win-win partnerships with
the suppliers.
Creating
profits and prosperity.
Caring about the community and the
environment.
All the WFM’s stores offer welfare rated meat
and ingredients that customers can trust. This is achieved with the help of
experienced staff and by making partnerships with farmers and suppliers. They
make sure that all the products meet the highest standards by researching
ingredients and auditing sourcing practices.
The organization is committed to easing the
shopping moment for clients, who know that if the food does not meet a set of
standards, they will not be able to find it there. They put the customers at
the front of what they do, trying to satisfy their expectations about the
shopping experience, and providing good customer service.
They take care of the store environments trying
to make them fun and attractive places where people can nurture and at the same
time, educate themselves. Finally, WFM considers the importance of motivating
the team members and carry on inclusive practices.
QUINN,
Robert E. and THAKOR, Anjan V.; Creating
a Purpose-Driven Organization; posted at Harvard Business Review on
08/2018; available at: https://bit.ly/2DpSa0k
Principles of Organic Farming; posted on Whole Foods Market;
available at: https://bit.ly/2F1OvGE
