...BME-214614-04 Organizational Behavior 18 February 2013 Belief and Support of Human Capital: Case Study Analysis of Whole Foods What role, if any, does McGregor’s Theory Y play at Whole Foods? Explain? The primary focus of this case study analysis shall be to examine the methods of Whole Food’s distinctive approach and development to the implementation of creative management strategies and how they can continue to successfully help them to maintain growth in their company. The underscoring premise of McGregor’s Theory Y primarily rest on the assumption that that the role of management is develop the potential of their employees and help them to realize their potential to meet the common goals of their organization (Steward, 2010). With this underlining thought in mind McGregor’s Y Theory plays an intricate and crucial role at Whole Foods. According to our textbook, Organizational Behavior, by Robert Kreitner and Angelo Kinicki, and the company’s primary mission directives, Whole Foods goal is for upper management to share the responsibility with their frontline managers in the development of a successful work environment (Kreitner & Kinicki, 2013, p. 30). Whole foods promotes their employee teams to be self-directed and take initiative and responsibility for operating together for the benefit of their entire business organization. To this end John Mackey, Cofounder and Co-CEO of Whole Foods Market promotes through the application of McGregor’s Theory Y the happiness and...
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...influence of other people’s behavior and social standards on our behavior. The theory imagines we independently know what we want and that our preferences are permanent. This standard theory is very good at explaining short-term decision-making (I want green vegetables and choose beans as they are on special offer) but cannot explain longer-term changes in preferences (I now only choose organic food). Along the same lines the importance of institutions – both formal institutions such as regulations, and informal ones, for example, how people organise markets – and the evolution of the whole economic system are not subjects of neoclassical analysis. This has significant implications Behavioral economics has evolved to be a separate branch of economic analysis which applies scientific research on human and social, cognitive and emotional factors to better understand economic decisions by consumers, borrowers, investors, and how they affect market prices, returns and the allocation of resources. Behavioral economics is that branch of one, which deals with the study and application of analysis with scientific approach on social, emotional factors for understanding the consumers, investors and the market, and the resources. The field is primarily concerned with the bounds of rationality (selfishness, self-control) of economic agents. Behavioral models typically integrate insights from psychology with neo-classical economic theory. Behavioral Finance has become the...
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...Whole Foods printed mission statement is to “promote vitality and well-being for all individuals by offering the highest quality, least processed, and most flavorful natural and naturally preserved foods available.” These values have established Whole Foods Market in to the world’s largest retail chain of natural and organic food super markets; founded in Austin, Texas by John Mackey in 1980 the company has experienced rapid growth based on their impeccable business plan, that focuses on selection of products and being dedicated to high quality standards and core values embedded throughout the corporation (“Whole Foods Market”). The company’s core values are as follows: • Selling the Highest Quality Natural and Organic Products Available • Satisfying and Delighting Our Customers • Supporting Team Member Happiness and Excellence • Creating Wealth through Profits and Growth • Caring about Our Communities and Environment • Creating ongoing win-win partnerships with our suppliers Whole Foods structure varies differently from most other retail grocery stores. At Whole Foods innovation and experimentation are implemented at the store level as managers are allowed to stock 10% of products that they see will benefit and or cater the surrounding community (Lubove, 102). Whole Foods also structures their employee’s salaries differently than other Fortune 500 companies. Fortune 500 companies pay their...
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...Whole Foods Market Spring Semester 2012 Introduction Since 1980, Whole Foods Market has pioneered the organic and natural foods movement. All products meet Whole Foods Market’s strict quality standards to ensure they are free of artificial additives, sweeteners, colorings, preservatives and hydrogenated fats. Whole Foods market was founded in 1978 and is based in Austin, Texas. Founder and chairman of this company is John Mackey. The company has also some subsidiaries companies Allegro Coffee company, Pigeon Cove, Seafood processing facility, Select Fish, West Coast seafood processing facility and Produce Field Inspection Office. Current situation Whole Foods Market offers produce, seafood, grocery, meat and poultry, bakery, prepared foods and catering, specialty (beer, wine and cheese), whole body (nutritional supplements, vitamins, body care and educational products), floral, pet products and household products. Whole Foods Market operates over 270 stores in North America and the United Kingdom and employees over 54000 associates. The stores emphasize perishable products, which account for about 75% of sales. The company offers more than 15000 items in four lines of private label products. Also since 2007 whole foods market merged with wild oats markets based in boulder, Colorado. Mission The mission of the company are three phrases “whole food-whole people-whole planet” which means that if you cover these...
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...A. Economics 1. Definition of Economics Economics is the study of how people allocate their limited resources in an attempt to satisfy their unlimited wants. As such, economics is the study of how people make choices. 2. Resources Resources are things that have value and, more specifically, are used to produce things that satisfy people’s wants. 3. Wants Are all of the things that people would if they had unlimited income. Microeconomics versus Macroeconomics 4. Microeconomics Microeconomics is the part of economic analysis that studies decision making undertaken by individuals (or Households) and by firms. It is like looking through a microscope to focus on the small parts of our economy. 5. Macroeconomics Macroeconomics is the part of the economic analysis that studies the behavior of the economy as a whole. It deals with the economy wide phenomena such as changes in unemployment, the general price level, and national income. The Economics Person: Rational Self-interest 6. The rationality assumption The rationality assumption of economics, simply stated, is as follows: We assume that individuals do not intentionally make decisions that would leave. 7. Responding to incentives It can be assumed that individuals never intentionally make decisions that would leave them worse off, then almost by definition they will responds to different incentives. We define incentives as the potential rewards available if a particular activity...
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...Whole Foods Markets: An Economic Buoy in a Sea of Uncertainty Whole Foods Markets: An Economic Buoy in a Sea of Uncertainty There are many economic factors affecting business today. This is no less apparent in the case of Whole Foods Market Inc (WFM); a leading retailer specializing in natural and organic foods. The economic, social, legal, technological, and competitive forces that affect other companies more directly affect a retailer with high visibility and a niche market such as WFM, yet the firm shows continued performance over competitors and increased profits for shareholders. WFM continues to navigate the market showing gains in profit, a dedication to the consumer, and competitive advantages that allow them to remain a strong competitor in a new and high growth market. WFM shows continual growth in a time of financial instability for many consumers and businesses. The growth plans of WFM have allowed the company to expand extensively over the last 33 years. The New York Times (2013) states, “As of September 25, 2011 Whole Foods Market operated 311 stores in the United States, Canada, and the United Kingdom” (Company Information). WFM has a strong history of growth that continues to be a basis of the company’s strategic plan. Current plans include the opening of 1000 stores in the United States in the coming years. This extensive growth plan can only be supported with a strong economic backing and the support of consumer spending. WFM has shown that they currently...
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...Whole Foods Markets Based On the Congruence Model Name Institution Whole Foods Markets Based On the Congruence Model Introduction World Food Market just like any other established organization, regardless of size and the capacity to facilitate production, enters the business world with expectations to meet targets for the desired outcomes. The desired outcomes in most instances rely on the possibility of implementing the appropriate business strategy from which a baseline is derived to attain the set goals and objectives through systematic planning, execution, and review. Imperatively, the current world economy is directed by the evolving market dynamics. Currently, Whole Foods Market is regarded as the most prolific and reputable organization in the global industry. For Whole Foods Markets to achieve goals and objectives set by the top management through the implementation of top quality strategies instituted to steer the organization to new heights. However, with many prolific organizations as with Whole Foods Markets, challenges are not unavoidable and quite inevitable. Whole Foods Markets have encountered numerous challenges that have impacted the organization’s ability to achieve its postulated projections as depicted by the current higher rates of competition within the natural food industry, a fledgling economy and the inherent problem of identifying and acquisition of business locations (Thompson, 2012). Consequently, Whole Foods Markets have come up...
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...of Business Prairie View A&M University Group Case Study: Whole Foods Market Jamal Bacon, Briana Bedford, Alexis Castleberry, Jordon Powell Strategic profile & case analysis purpose Whole foods was the world’s number one leading retailer of natural and organic foods. It was founded by John Mackey when he started with one store, but it has now grown to the nation’s leading food chain. The purpose of this business case study is to explore the strengths, weaknesses, opportunities, and threats facing Whole Foods. In 2005 whole foods had 172 stores in North America and the United Kingdom. Whole Foods Market was created in 1979 when John Mackey partnered with Craig Weller and Mark Skiles. The new company was established in Austin, Texas, in 1980, and consisted of a natural food market with a staff of 19 members. The success of Whole Foods was attributed largely through mergers, acquisitions, and several new store openings. In the United States, Whole Foods is considered the largest natural food supermarket. Whole Foods Markets is driven by its mission, “the company is highly selective about what they sell, dedicated to stringent quality standards, and committed to sustainable agriculture. They believe in a virtuous circle entwining the food chain, human beings and Mother Earth: each is reliant upon the others through a beautiful and delicate symbiosis” (Hunger and Wheelen pg.28-2). Whole Food’s objectives consisted of targeting their locations where there...
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...MR. T. A. G. OKEOWO INTRODUCTION It is not easy to say in a sentence what the subject, ‘micro economic’ means without explaining the meaning of economic. Economic can be looked at from various angles and hence each scholars can give their own definition of the subject. It is a social science, and social science is the studies of the behaviors of human being unlike other social science such as philosophy, sociology, political science, anthropology etc. There are many definition of economics, the earliest definition were usually in term of wealth such as the one by Adam Smith who defined economic as: an inquiry into the nature and causes of wealth of the nation. Later on J.S Mill defined economics as the practical science of production and distribution of wealth. Davenport defined economics as the practical science that treats phenomena from the stand point of price. Prof. pigou in his own definition describes the subject as having a lot to do with welfare while Alfred marshal defined economics as a study of mankind in the ordinary business life. Lord Lionel C. Robbins defined economics as ‘the science which studies human behaviors as a relationship between ends and scarce means which have alternative uses’. It can therefore be safely said that economic is the study of production, distribution, exchange and consumption of goods. And is the study of how society decides what, how and for whom to produce. Economic is divided into two main branches: microeconomic and macroeconomic...
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...profile. Identify the industry that the firm is operating in. Carry out an internal analysis of the firm (organization audit) using a range of sources and producing a reference list. P2.1, M2 The American Burger King Worldwide Holdings Inc. is a global franchising company operating in the fast food industry. Burger King is a well known brand all over the world. It is the second largest fast food burger chain with their main product being hamburgers. Originally founded in 1954 by Keith Kramer and Matthew Burns, but was subsequently acquired by two franchisees, James McLamore and David Edgerton. The first restaurant was opened on December 4th in 1954 in Miami, Florida, under the name “Insta Burger King”. The concept was already then and has stayed the same from the beginning, flame roasted beef with fresh ingredients in a bun. Their bestseller the “whopper” was first sold in 1957. Over the past 50 years the firm has had numerous owners. In the past 25 years alone, the company has seen 13 CEOs. Despite of the lack of long-term ownership, constant management turnover, and inconsistent strategy, the company managed to grow into the world’s second largest fast food burger chain, with over 13000 restaurants operating in 80 countries, which speaks to the strength and resilience of the business. New owners restructured the company. Since 2010, when the company was acquired by 3G Capital, the index has increased by more than 50% and Burger King became Burger King Holdings...
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...BOOK REVIEW: TALENT - MAKING PEOPLE YOUR COMPETITIVE ADVANTAGE BEVERLY R. STUMP WESTERN CAROLINA UNIVERSITY March 9, 2014 Abstract Edward E. Lawler is passionate about talent and makes this the corner stone of his book, Talent: Making People Your Competitive Advantage. Creating a Human Capital-centric organization can be achieved only if there is sufficient talent and if the right structures, systems, processes, and management practices are in place to develop and retain that talent while attracting whatever other talent may be needed as the organization changes. Lawler brings forth a structure to build an organization with solid talent and guidance to prepare any Human Resource executive to sit at the executive table and be a strategic partner within the organization. Walk the Walk and Talk the Talk In this book, Edward Lawler provides an understanding of how to gain and sustain a competitive advantage by recruiting, hiring, and retaining compatible talent with the right structures, systems, process, and practices in one place. Lawler believes that “fewer and fewer companies can be successful by practicing an old-school bureaucratic (structure-centric) approach to management”, an approach I agree with. He is urging companies to “walk the walk and talk the talk” encouraging companies to stay away from clichés and trends. Lawler further argues that competitive advantages do not come from offering the lowest price, the newest technology, or an expensive product...
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...with the very successful turnaround of Coles business. The purpose of this report is to investigate any potential key challenges presently facing by the group by analysis of the industry and core competence and value chain of westfarmers. 2. Westfarmers background Westfarmers was established in 1914 as Western Australia farmers' co-operative. It is now one of the largest retailers and diversified publicly listed company in Australia. In 1984, when it was firstly listed on ASX, its market value was only $30 million, but by the end of 2008, it had a market capitalization grown to $25 billion. In fact, it has engaged an aggressive acquisition and diversification strategy since its establishment. Of those diverse business one of the most important businesses is the retail business including Coles and Bunnings. This leads to the major competitor of Westfarmers's, woolworths. Currently woolworths entered the home improvement retail market and makes the competition between westfarmers and woolworths more aggressive. 3. Industry analysis The key retail market westfarmers are now competing is the food retail market and home improvement retail market. Given the fact that the nature of both retail markets are pretty much the same both base on supermarket distribution approach), we decided to analyse them together as a whole in both macro- and micro-environment....
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... Licensed to: CengageBrain User This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable information on pricing, previous editions, changes to current editions, and alternate formats, please visit www.cengage.com/highered to search by ISBN#, author, title, or keyword for materials in your areas of interest. Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. Licensed to: CengageBrain User Economics for Today © 2012 Cengage Learning Australia Pty Limited 4th Edition Allan Layton Copyright Notice Tim Robinson This Work is copyright. No part of this Work may be reproduced, Irvin B. Tucker stored in a retrieval system, or transmitted in any form or by any means without prior written permission of the Publisher. Except...
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...Microwave food have taken place of the traditional family-styled dining in today’s fast-paced society. There are a variety of microwavable food for consumers to choice from. With today’s health conscious society, the microwave food industry have adapted to meet the preferences of the consumers by producing low calorie frozen microwavable foods. With the growth of this market, it is important that companies in this market have a good marketing plan along with a good strategic business plan. An important long-term decision a business can make is whether or not to invest. The process of evaluating the sustainability of long-term investments with a view of distributing financial resources to investments that are profitable is known as capital budgeting. Capital budgeting focuses on investment costs related to the benefits generated during their economic life. This is one of the most important decisions for a company because it helps with the appraisal and selection of investments that are most feasible. It also helps with the decision of accepting or rejecting investment proposals. Evaluating, classifying, and ranking independent and mutually exclusive long-term investments are completed by using the framework provided through capital budgeting. It helps with the decision on how to allocate scarce financial resources according to the importance of a variety of investment proposals. Long-term investments decisions are based on cost-benefit analysis. The initial capital costs...
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...industry consists of broad category of fields within the service industry that includes lodging, restaurants, event planning, theme parks, transportation, cruise line and additional fields within the tourism industry. The hospitality industry is a several billion dollar industry that mostly depends on the availability of leisure time and disposable income. A hospitality unit such as a restaurant, hotel, or even an amusement park consists of multiple groups such as facility maintenance, direct operations (servers, housekeepers, porters, kitchen workers, bartenders, etc.), management, marketing, human resources, property maintenance and finance. The hospitality industry covers a wide range of organizations offering food service and accommodation. The hospitality industry is divided into sectors according to the skill-sets required for the work involved. Sectors include accommodation, food and beverage, meeting and events, gaming, entertainment and recreation, tourism services, and visitor information. Usage rate is an important variable for the hospitality industry. Just as a factory owner would wish to have his or her productive asset in use as much as possible (as opposed to having to pay fixed costs while the factory isn't producing), so do restaurants, hotels, and theme parks seek to maximize the number of customers they "process". Very important is also the characteristics of the personnel working in direct contact with the customers. The authenticity, professionalism, and...
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