Whole Foods Market, Whatever Makes You Whole - Case Study Example

Case Studies: Whole Foods & JetBlue WHOLE FOODS Strategic Business Vision In the quality foodbusiness, Whole Foods Market has been able to prove itself as one of the best with its dynamic leadership and innovative ideas. Setting up standards of excellence is one of the significant components of strategic business vision of the company, which has considered food retailers particularly. All aspects of the company have been permeated with high standards of quality, and a far beyond role than a food retailer is played by the Whole Foods Market. Customer satisfaction is considered the tool that analyzes the fulfillment and successful achievement of abovementioned strategic vision of the company. Return on capital investment, improved environment, and community support are some of the other imperative strategic values practiced by the company. A compassionate communicative environment is provided to stakeholders, consumers, and suppliers, in order to acquire a sense of trust and interdependence among the partners. Financial & Strategic Goals Studies have indicated that flourishing of environment, as well as, shareholders and vendors is one of the major objectives of Whole Foods Market. Moreover, productivity of the company is increased by balancing of needs and requirements of stakeholders. Domestic, as well as, international expansion of company operations is another imperative goal of the company that will result in an increment of financial profits, which is quite a realistic form of goal for an international-standard company. Strategies In order to fulfill and achieve the abovementioned the company opens goals and objectives, more than a thousand chains with stores through chain collaborations during the period of last five years. In this regard, the company’s management to acquire desirable locations in the market explores acquisitions. However, experts indicated that a paradigm shift is observed in the strategy of the company, as new stores are opening by the company, rather than attainment of small chains with stores. Lastly, product line is an important area that is considered by the strategic decision makers of the company Implementation In specific, an average sale of 26 million dollars was generated by the company in the year 2006, which shows successful implementation of abovementioned strategies of the company. In terms of implementation, more than 180 stores were opened by the company during the fiscal year of 2006. Product assortment and brand loyalty are some of the key areas that have progressed rapidly since the last five years. More than 30,000 natural, as well as, organic food items, and non-food items are included in the product line of Whole Foods Market, which has allowed customers from diverse backgrounds to shop as per their needs and desires. SWOT Method Analysis Strengths & Weaknesses Some of the significant strengths of Whole Foods Market are its effective corporate culture that has given due importance and significance to its employees, which can be seen in its services. The company has been successful in accepting the socio-cultural change, as well as, implementing environment-friendly changes in its services. On the other hand, human resource management is one of the weaknesses of the company, even in midst of an effective corporate environment. Moreover, the company is confronting a shortage of consultants at the customer level, which has affected its services significantly. Opportunities & Threats Since commencement of its first store, the company has been successful in attracting millions of customers towards its products and services. Therefore, its low-cost services and attractive stores are some of the factors that may give a blow to other competitors, and therefore, the company has the opportunity to increase its stores and product ranges, in order to capture markets of other competitors like Wild Oats Markets, Fresh Market, Trader Joe’s, etc. On the other hand, some other companies are in the market since a long time, and it is very difficult to affect their brand loyalty and equity. Moreover, new competitors are entering into the market with low-cost services, and innovative methods of home delivery, which is one of the threats to the company, and the research team should work on this aspect, in order to avoid any threats in the future. JET BLUE Strategic Business Vision JetBlue Airways Corporation owns one of the low-cost airlines of the country. In addition, John F. Kennedy International Airport is the home platform of the airways. With more than eighty aircrafts and approximately nine thousand employees, continuity of bringing humanity to the air travel industry. Moreover, provision of fun filled and comfortable service is another imperative strategic business vision of JetBlue Airways. Socio-cultural and political environment of the airline industry has been considered by the company while setting up philosophy of customer service. Management of high quality personnel, as well as, successful employees is strategic and key to the company. Financial & Strategic Goals Some of the strategic goals of the company include implementation of effective human resource management practices in the company, in order to achieve a dominating position in the airline industry. Moreover, low-cost flights and provision of service quality is another significant goal of the JetBlue Airways that will result in an increment of financial profits, which is quite a realistic form of goal for an international-standard company. Strategies Strategies of rapid expansion of the company are some of the effective business strategies of the company, which has followed by innovative utilization of technology in almost every department of the company. Corporate culture of JetBlue Airways is an imperative strategy to prevent unionization that has been the cause of shutdown of a number of airlines in the past. Implementation In light of abovementioned strategies, it is indicated by a number of studies that a rapid expansion is observed in the services of JetBlue Airways since last five years. Different services from one state to another were introduced by the company, and company operations were expanded from daily nine flights to daily three hundred flights. A number of new airliner crafts are ordered by the company in advance, in order to overcome the pressure of competition in the industry. In order to provide a high-quality flight to the passengers, technology has been used in an innovative manner, and a number of features, such as automatic check-in counters, wireless internet access, private massages, play area, etc. are introduced at the company’s terminal, which has resulted in an increase in annual sales of the company. 5 Force Analysis Method Substitute Products Analysis has indicated that a number of airline companies are offering similar services, and therefore, there is a high tendency that customers may switch off to other airlines due to their interests and flexibility. In this regard, it is very imperative that JetBlue should offer different alternatives to the consumers, in terms of flight schedules, timings, and other different services, in order to avoid any threat of substitute products. New Competitors Since two decades, airline industry has progressed and developed rapidly, which has brought a number of new companies into the market. It is likely that new companies will enter into the market, which will have an effect on the profitability of JetBlue Airways. In this regard, JetBlue has been able to create a brand loyalty towards its consumers, which is one of the major characteristics of the company. Low-cost advantage is another important feature of the company, which will put barriers to entry of new competitors in the market. Existing Competitors JetBlue has an effective marketing strategy; however, in presence of competitors like American Airlines, Southwest Airlines, United Airlines, etc, it is very imperative that new alternatives should be introduced to the consumers, and methods and services should be improved through latest technology and comprehensive research. In this regard, JetBlue has been able to integrate technology in an innovative manner, as well as, offer low-cost flights to the consumers, which have been one of the factors of its survival in the industry. Consumers Consumers are referred as kings in a customer-oriented company, and JetBlue has been able to play the role of a similar company since the beginning. Study has indicated that the company has been successful in grasping consumers at Florida, JFK, and California locations, as compared with other locations of the country. JetBlue Airways has successfully implemented new technology in its airliners in an innovative manner, which has attracted millions of consumers to the company, even in midst of existing substitute products and services. Suppliers Corporate structure of the JetBlue Airways is an effective one, which has given due importance to its suppliers. Research department of the company is responsible for carrying out thorough research in terms of existing suppliers, and therefore, the company deals effectively with its suppliers, particularly, suppliers of electronic and food items. Read More