...Wegmans: A Company to Excel Ethics of Business Centenary College October 13, 2013 WEGMANS A COMPANY TO EXCEL The Wegmans grocery store chain started its history with two brothers, but today has over 36,000 employees with a genuine commitment to each of them. (Hoovers, 2013) John Wegman first started in the grocery business by opening Rochester Fruit and Vegetable Company in 1916. (History, 2013) The corporate headquarters is still located in Rochester, NY where the company started. (Snapshot, 2013) In 1921, the bothers John and Walter Wegman purchased the Seel Grocery Company. After acquiring the store the brothers introduced bakery and general items to the sales floor. Nine years later in 1930 the name changed to Wegmans and a 20,000 square-foot store with a cafeteria was opened. In 1931 John and Walter Wegman incorporate Wegmans, but the company still remains privately owned. (History, 2013) Wegmans has a history of quickly adapting to technology. The co-chairman Robert Wegman was part of the industry committee that created UPC labels and in 1974 Wegmans started to use bar-codes before most competitors. In 1990 electronic discounts and coupons were initiated. (Facts, 2013) Wegmans has grown substantially since its inception in 1916. The company is located in the northeast of American and has eight-three stores in six states. (Store Locator, 2013) Wegmans is a privately held company which Hoovers estimates the annual revenue exceeded 6.6 billion...
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...CASE ANALYSIS #1 Wegmans Food Market Group 1 (BSA 3201) Alido, Jessica _________________ Bautista, Shirley H. _________________ Como, Shandy G. _________________ Evangelista, Clariz B. _________________ Garcia, Gian Pauline _________________ Gonzales, Realyn _________________ Ilagan, Kevin Allen _________________ Marquez, Mayette R. _________________ Pablo, Daniel Ezra M. _________________ Zaraspe, Glaiza I. _________________ I. Point of View The group will use the point of view of a marketing strategist. II. Time Frame The case happened during the maturity of Wegmans Food Market. III. SWOT Analysis Strengths 1. The company operates over 70 stores in Rochester, Buffalo, Syracuse, New York State, New Jersey, Pennsylvania and Virginia. 2. The company employs over 37,000 people and has annual sales of over $3 billion. 3. Wegmans has a strong reputation for offering its customer high product quality and excellent service. 4. Each store has various special features offering different products and services. 5. The company prides itself on fresh produce in which it uses the “farm to market” system thus reducing the company’s inventory holding costs and getting the produce into the stores as quickly as possible. 6. Many stores have a full-service butcher shop offering a variety of fresh meat products with highly-trained employees that instills a “selling culture”. 7. Wegmans continually analyzes store operations to improve processes...
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...changes considering the major costs. In the case of Wegmans Food Markets, the capacity means the upper limit on the load that this market can sell during a certain period. Since Wegmans Food Market prides itself on fresh produce, predicting the capacity inaccurately such as overestimating the capacity will lead to a high volume of inventory. Some food such as eggs, milk and meat cannot be stored for a long while. If the market fails to sell out all of the food it purchased, it will afford high costs, reducing the competitiveness of the market. On the other hand, if Wegmans Food Markets underestimates its capacity, stock out will happen. Customers cannot find out what they want and as a result, they will seek another supermarket. Losing existing customers or a low customer satisfaction, both of them will cause a bad influence on an organization. Reference: Textbook, Chapter 5 e. Inventory management Although inventory can meet anticipated customer demand and smooth production requirements, inventory is a liability to an organization considering the decrease in value as well as the costs of carrying inventories. Therefore, every organization attempts to remain the Economic Order Quantity (EOQ) of inventory, which can both satisfy the level of customer service and control the costs of ordering and carrying inventories. In addition, the volume of inventory will influence managers’ decisions on ordering. In the case of Wegmans Food Markets, this market uses a “ farm to market”...
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...Kari Thompson Mgmt 3100 August 28, 2015 Ch 1 Hw Wegmans Food Markets 1. How do customers judge the quality of a supermarket? Customers judge the quality of a supermarket similarly to how they judge the quality of other businesses. Customers want high quality products, good prices, and great customer service. Customers want to feel heard and want to feel as if what they have to say is valuable at the places they shop; they also want to be treated as an important individual when shopping there as well. Wegmans offers an impressive variety of high quality products in its store; this is another factor that will greatly affect how customers judge the quality of the store. Customers are going to judge the quality of the store many times by the quality of their interactions with the stores employees as well. 2. Indicate how and why each of these factors is important to the successful operation of a supermarket: a. Customer satisfaction— customer satisfaction is extremely important to the success of a supermarket as customers with high satisfaction are going to keep coming back. They will tell their friends to go there as well. Without customers, a supermarket ceases to be a supermarket. b. Forecasting—forecasting is important because It is important for stores to anticipate things such as demand of a product, holidays and busy seasons, and growth in the business. c. Capacity planning—capacity planning is important because businesses need to understand...
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...Table of Contents Abstract 1 Introduction ii History of Wegmans ii Why Employees Enjoy Working at Wegmans iii How Wegmans Attracts, Retains and Develops Employees v Strength of HR vii HR Competitive Advantage ix Other Important Learning about Wegmans xi Company Developments xii Conclusion xiii References xiv Abstract Wegmans has done many things over the years to achieve the reputation as being one of the best employers in the United States. The company operates 67 stores in four states, employing over 30,000 people, and close to two and a half million customers per year. Since 1981, the company has given $56 million dollars in scholarships to more than 25,000 full-time and part-time employees. Wegmans turnover rate is only 6%, which is considerably lower than the industry average. Wegmans HR function is strength because they take a strategic approach that not only covers standard functions but they also capitalize on interpersonal functions as well. Wegmans has also adopted the theory that treating employees well will increase job performance, thus increasing customer satisfaction. In 2011, Wegmans developed a donation program to help flood victims in Pennsylvania and New York States’ Southern Tier. Wegmans has consistently shown that they are a top notch employer. Respecting values and empowering employees are just a couple of the many things that make Wegmans one of the best companies to work for. Introduction There is one name that strikes a chord in...
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...Case: Training for Excellence at Wegman Food Market Wegmans Food Markets, “a regional supermarket chain based in Rochester, New York, is one of the top 75 U.S. supermarkets in terms of sales volume and is widely respected in the industry. Observers agree that training is a big reason why the company stands out,” (Noe, Hollenbeck, Gerhart & Wright, 2009, p. 209). In this paper I will discuss how training at Wegmans’ is related to its organizational needs and how Wegmans’ measure the success of their training programs. I will also discuss if an e-learning will be an appropriate training method at Wegman and for what aspect of training might it be most beneficial? I will discuss how on-going training for employees can have a positive impact on employee retention Discuss how training at Wegmans’ is related to its organizational needs. “Hiring the right people means more than just securing employees who possess the knowledge, skills, and abilities required to perform a particular job; these people must also be able to acquire new knowledge and skills as jobs and environments change,”(Dreher & Dougherty, 2001, p. 6). Wegman Food Market Human Resources department have to ensure that they are hiring the right people that will provide the customers with superior customer service and commit to implementing the knowledge they receive during training. Wegmans organizational strategy is for the employees to “understand sales and competing on the basis of quality and service,” (Noe...
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...CASE ANALYSIS OF WEGMANS FOOD MARKET Balmes, Jennylyn C. De Guzman, Marlene A. Endozo, Lyka M. Esguerra, Michelle Carmel B. Espiritu, Janelle Rajen S. Fajiculay, Joanna Marie T. Lopez, Evangeline Porto, Maria Lyn Sarmiento, Kris Jeine Laizl Kaez Tobeo, Baby Jane I. Point of View The group used the point of view of Wegmans Food Market’s management. II. Time Frame The case happened during the maturity of Wegmans Food Market. III. SWOT (Strength, Weaknesses, Opportunities, and Threats) Analysis Strengths 1. Wegmans Food Market is a well-known premier grocery chain as it offers high product quality and excellent service to customers. 2. It is positioned in good locations in United States where it does its business. 3. It offers variety of products and extended additional features wherein customers can choose from. 4. The company's produce department employs specialized way of transferring produce to reduce bruising 5. It maintains a strict control on its suppliers considering the quality and timeliness of deliveries. 6. It involves the coordination of departments in verification of inventory count. 7. It has good people who are well-trained, knowledgeable, and committed to the organization. 8. It continues to adopt technological processes and systems to maintain its competitiveness. Weaknesses 1. Because of too much emphasis on satisfying customers, high cost of improving the products and service is somehow...
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...STRENGTHS * Wegmans Food Market has a strong reputation because of its high product quality and excellent service and this attracts customers towards their outlets. It also has a very strong image when it comes to its owned organic food production and retails. * It has a very good employee percentage. It employs over 23, 000 people in its chain and they are constantly trained to learn more about its operations. These employees are motivated by compensation, benefits, and profit sharing. The company also attracts other grocery stores to send representatives to them for firsthand look at operations. * The company’s sales are exceptionally high as compared to average supermarkets. * The company’s stores have producing sections which are so much bigger than the average supermarkets’. Each store has special features. Some has a Market Cafe with different food stations. The customers can choose from different varieties of products. * The company’s continuously adopting new technologies to maintain competitive advantage over their competitors. It uses a system which can help them keep track of their inventory to determine the units on hand because too much of this can add to their department’s cost while having too little can cause shortages. * The company is open to new ideas. It uses a system known as “farm to market” in which the goods are directly delivered to stores. This helps them in reducing their inventory holding cost. * The company has a strong...
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...Wegmans Wegmans is able to sustain its culture by the manner in which they treating their employees like parts of their family. According to the description in our text, Wegmans is an example of a clan culture that emphasizes tradition, loyalty, personal commitment, extensive socialization, teamwork, self-management and social influence as its attributes. They differentiate and establish their company’s culture to new employees from the beginning in the interview process. By hiring persons interested in gourmet food, they get people who want to sell gourmet food. Another aspect of their culture is the teamwork demonstrated when opening a new location as in the Dulles store opening. Their culture is taught by existing managers and employees as shown in how the other locations help to train and onboard the new employees and work with the store until it is running smoothly. The 6% turnover rate of Wegmans employees, which is well below the industry norm, shows how the company’s benefits, higher pay rates, scholarships help to foster long-term employee loyalty and commitment. Simply put, this family-owned business treats their employees like the valuable assets to the business that they are. A possible threat to Wegmans culture could be duplication by a competitor that figures out how to get the same results and success with less money spent. It is said that the best compliment is for another to want to be like you. I also see that...
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...is so ahead that it is just starting to plateau out rather than a continuous growth. I would like to be in a country where I can explore and extend my abilities as a company and maybe find a hidden skill within my company that I would not have found if I would have stayed in my host country. I also want to move to a country that has the continuous drive to get better, not somewhere that is satisfied with what they already have. Finding a country where there is virtually an endless supply of hidden assets, an economy that is large enough to support foreign investments and wages are low is the type of market where I can enter the market at full force. That is why I have chosen to introduce the privately owned retail chain Wegmans to South Africa. Moving Wegmans to South Africa and acquiring the Woolworths Limited retail chain company...
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...Wegmans is a privately owned supermarket chain. They currently operate 81 stores throughout the Northeast with over 43,000 employees. Recent revenues in 2012 topped over 6 billion and have been moving up the ranks of becoming one of the largest privately held companies and largest supermarkets in the United States. Wegmans has numerous achievements and awards since its inception in 1916. For more than a decade they have been in the top ten lists for best companies to work for. In 2008 they banned all sale of tobacco to promote a healthier lifestyle. Wegmans believes it is important to have happy employees because that creates a great environment for customers. Wegmans offers competitive pay with mobility to move up within the company. They are constantly involving employees in many different programs such as eating healthier and becoming more active. Their employee turnover ratio is much lower than the industry average. Wegmans also believes in supporting the community and giving back. They encourage customers and employees to donate and more importantly Wegmans donates to many local charities and organizations. The shopping experience at this store is like no other. They architecture is pleasing to the eye. The stores offer a wide variety of food choices (including organic). The stores include their own bakeries, fresh produce, prepared foods, food courts, etc. The prices are consistently low and competitively priced. They are a very strategic company and only...
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...Assignment Two: Human Resource Strategies of Google, Inc. & Wegmans Food Markets, Inc. BUS 508-Contemporary Business Alisha Ball Dr. Solomon Fakinlede Strayer University Compare and contrast the two (2) industries you have identified in terms of size, products, services, customers, economic and regulatory environment. Human resource management/ strategies refers to a various number of policies as well as practices that influence an organization significantly. It is related to employee behaviors, attitudes, as well as performance. These strategies are used to give organizations a competitive advantage particularly in the areas of recruitment, training and development, and diversity management. These policies and strategies help promote the practice of helping organizations to achieve their business goals as well as objectives by developing the knowledge and skills of employees in order for the organization to meet its mission as well vision. These strategies are often very strategic as well as goal oriented and helps organizations adapt to change as well as meet the needs of the consumers that they serve. These strategies help to make organizations some of the best companies to work for. Google, Inc. ranks number one on the 2015 Fortune 100 Best Companies to Work For. Google is a global company that develops technology including web browsers, smartphones, smart contact lenses and social media apps to help keep people connected. Their innovative technology as...
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...Wegmans Food Markets, Inc. Wegmans Food Markets, Inc. is a supermarket chain with stores in New York, Pennsylvania, New Jersey, Virginia, Maryland, and Massachusetts. The family-owned company was founded in 1916 and currently have 83 stores. Wegmans is recognized as an innovator and an industry leader, which has earned them a ranking with FORTUNE magazine as one of the ‘100 Best Companies to Work For’ for seventeen consecutive years. Although in previous years, Wegmans ranked higher on Fortune’s list, landing first place in 2004, they continue to rank high, landing fifth place in 2013 and recently capturing twelfth place in 2014 (4). Wegmans’ consistent success over the years is based on family values which has been the driving force behind their reputation for having a strong ethical foundation. Implementation of their ethical values have placed them as a top competitor in the grocery industry. Unlike their competitors, their advantage has nothing to do with lower prices. Because of this they have set themselves apart from their competitors. Their commitment to ethics, integrity, and personal respect begins at the corporate level and works its way down through the ranks to positively impact their bottom line figures. They have gained superiority among their competitors. In fact, Wegmans was named one of the 2012 World's Most Ethical Companies for the third year in a row. They top the industry in all the world with regard to their code of ethics, superior litigation and...
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...WEGMANS Binlerce şirket “Müşteri kraldır.” gibi müşterilerini ilk sıraya koyan sloganlar kullanıyor. Rochester, New York merkezli Wegmans öyle değil. Wegmans’ın beyanı açık: çalışanlar önce, müşteriler sonra. Bu konu hakkında müşteriler ne düşünüyor diye sorarsanız, bayılıyorlar. Müşteriler Wegmans’dan alışveriş yapmak için rutin olarak kilometrelerce yol gidip birçok başka marketi geçiyorlar. Şirket her yıl müşterilerinden övgü mektupları alıyor. Şehirlerinde Wegmans açılmasını isteyenlerdense daha bile çok. Böyle bir tutku şirketin kuruluşu olan 1915’den beri başarılı olmasını sağladı. Özel bir şirket olarak Wegmans finansal durumunu açıklamak zorunda değil ama ulaşılabilen rakamlar etkileyici. Şirketin faaliyet kâr marjı Safeway ve Kroger gibi ulusal şirketlere kıyasla iki kat yüksek. Metre kareye düşen satış ki bu en önemli satış etkinliği belirtisidir, ortalamaya göre yüzde elli daha yüksek olduğu tahmin ediliyor. The Wall Street Journal, Wegmans için “ülkenin belki de dünyanın en iyi zinciri” demişti. Bu gibi sonuçlar her piyasada önemlidir ama market perakendesinde çok daha önemlidir. Dünyadaki en zor piyasalardan biridir. Birçok market perakendecisi, minicik bir kârı garantilemek için sürekli devam eden fiyat savaşlarıyla, sık sık işçi sorunlarıyla, yüksek işçi firesiyle ve bütün marketleri birbiriyle bir tutan bir müşteri profiliyle uğraşıyorlar. Bu sorunlar yetmezmiş gibi, Amerika’da Walmart ve benzeri büyük marketlerin halihazırda elinde olan fiyat verimliliğiyle...
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...I. Point of View The group will use the point of view of an operations manager. II. Time Frame The case happen during the growth of Wegman’s Food Market. III. SWOT Analysis A. Strength 1. They offer high product quality and excellent service 2. They have strict control over supplies, insisting on product quality and on-time deliveries. 3. They provide a good benefits and trainings to their employees 4. There is a proper segregation of duties to serve the customers effectively and efficiently 5. Each store has various special features that offer different products and services which makes it unique over the other 6. The company provides employment for it employs over 37,000 people and has annual sales of over $3 billion. 7. They are well known in the business since they gain the trust of their customers 8. Wegman’s uses the farm to market system believing themselves as fresh produce 9. They uses a companywide system to keep track of the inventory 10. Quality and customer satisfaction is a priority of Wegman’s management and its employees 11. They were able to adopt new technologies B. Weakness 1. It has a high maintenance cost and will be paying large amount of taxes 2. They have a giant stores , 100,000 square foot superstores, that may be a burden to consumer to roam around and it will be time consuming for them to look for products if they are in a rush. C. Opportunities 1. Wegman’s Food Market...
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