Crafting and Executing Strategy Essay

Develop an argument supporting the importance of a strategic object for the conquest of the defined c are.For the success of the defined business, in this case for in every last(predicate) Foods Market, the importance of a strategic plan is unquestionable. In Crafting & Executing Strategy The Quest for competitory Advantage Concepts and Cases Arthur A. Thompson, Jr., A.J. Strickland III, and John E. Gamble (2009) state that a companys strategy is managements action plan for running the business and conducting operations (p.6). They go on to further pardon that a companys strategy is all about how management intends to grow the business, how it will build a loyal clientele and outcompete rivals, how each functional piece of the business will be controld, and how performance will be boosted. Any face without these defined hows cannot succeed because all aspects of the business would be out of sync and could strengthly take action that would be counterintuitive to the success of the company as a whole.If consentaneous Foods Markets strategy (outlined below) didnt fit the companys situation, didnt help the company achieve a sustainable competitive advantage, or result in better company performance, than the overall strategy would come up short and need to be re-evaluated to meet the needs of the business to repulse success in these three big areas. alone Foods Markets strategy focuses on being Americas healthiest grocery store, quest out the finest natural and extreme foods available, maintaining the strictest quality standards in the industry, and having an unshakeable commitment to sustainable agriculture. All of these pieces make up the solely Foods Markets strategic plan for its day-to-day operations in all aspects of the business, and without all of its employees being clear on this it would fall a subdi pot and not be the success that it is since its inception in 1980.Create a mission contention for the company explaining how the mission will be essential to the companys success.Thompson, Strickland, & Gamble state that the mission statement for any organization is essential to a companys success because it represents the companys present business purpose and reasons for existing, and sometimes its geographic reporting or standing as a market attractor (pg 28). The mission statement for Whole Foods Market is a good example of this due to providing customers and potential customers what Whole Foods Market is now and how they function as an organization.Whole Foods Markets mission is to be known for selling the highest quality of natural and organic products available, for satisfying and delighting their customers, supporting squad member excellence and happiness, creating wealth through profits and growth, supporting communities and encourage local involvement, promoting environmental stewardship, acknowledging all business associates, and operate with balance and integration. All of these boil down to one fact that W hole Foods Market intends to grow, and that todays growth is just the beginning of tomorrows development.If Whole Foods Market didnt have a mission statement clarifying exactly how they requisite to be portrayed in the food sell industry, then any current or potential customer would never know the type of business they were dealing with. The drive to be a leader in the organic and natural foods industry, and for every single team member to be a part of that drive, is an indicator that the organization values its standing in the industry and has a trusted staff invested in its own success. This is used as a lure for customers to want to do business with an organization that prides itself on being the best in the country. Whole Foods Market states that our customers are the most important stakeholders in our business we want to meet or exceed their expectations on every shopping trip. We know that by doing so we turn customers into advocates for whole foods (WholeFoodsMarket.com).Th e more than customers that promote their experiences and happiness with Whole Foods Market, then the more they will want to continue to do business with them and potentially grow with the company as a whole and help more and more customers become a part of the Whole Foods Market customer base.Create a vision statement for the company explaining how the vision statement supports the companys mission.Thompson, Strickland, and Gamble state that a strategic vision delineates managements aspirations for the business, providing a panoramic view of where we are going (p.25). They go on to say that a strategic vision can only function as a valuable management tool it must do two things illuminate the companys guiding path, and provide managers with a reference point for devising strategic decisions and preparing the company for the emerging. Whole Foods Markets vision statement is its Declaration of InterdependenceWhole Foods Market is a dynamic leader in the quality food business. We a re a mission-driven company that aims to set the standards of excellence for food retailers. We are grammatical construction a business in which high standards permeate all aspects of our company. Quality is a state of mind at Whole Food Market. Our motto Whole Goods, Whole People, Whole Planet emphasizes that our vision reaches far beyond just being a good retailer.Our success in fulfilling our vision is measured by customer satisfaction, Team Member excellence and happiness, return on capital investment, improvement in the state of the environment, and local and larger community support. Our ability to shanghai a clear sense of interdependence among our various stakeholders (the people who are interested and benefit from the success of our company) is contingent upon our efforts to communicate more often, more openly, and more compassionately. Better communication equals better understanding and more trust. (WholeFoodsMarket.com)This vision statement supports Whole Foods Marke ts mission because it brings out to the open for all of its team members a lighted patch to take to drive the success of the business, both on a small and grand scale. Because the vision provides a purpose to all team members it highlights that Whole Foods Market is known for being a leader in the organic and natural food industry, and it also provides a roadmap to everyone employed inwardly the company with the big-picture plan on how to succeed at continuing to be a leader within the industry.Establish five (5) key objectives for the company embrace operational, financial, and human imaging aspects of the business and justify why each of these objectives is essential to the success of the business.Whole Foods Market has six (6) key objectives that encompass operational, financial, and human resource aspects of the business, and each of them are essential to the success of the business currently and for in the future. The ten key objectives are (1) quality standards, (2) organic farming, (3) seafood sustainability, (4) animal welfare standards, (5) compassionate for communities, and (6) Whole Trade guarantee. Each of these objectives fits within either the operational, financial, or human resource aspect of the business, and each of them plays an important role in the success of the organization as a whole.Whole Foods Markets goal operationally and financially is explained in each of the six objectives in more depth because they explain how Whole Foods Market will operate day-in and day-out to perform as a company the types of standards being used to the types of the types of products being used, as well as how heavy(a) back will even help the company operate in the long run and into the bottom line.Each of the six (6) key objectives listed by Whole Foods Market is essential to the success of the business because they outline exactly how the business will be functioning in its everyday interactions with all of its customers, even demonstrating how future decisions and actions taken by a team member will drive their own personal/business success along with the success of Whole Foods. The Whole Foods Market brand thrives on being known as a leader in the organic and natural food retail industry, and by making it known to the public how it will drive customer experiences for future growth it gains even more customer loyalty. This subsequently drives the bottom line for any successes it has achieved as well as plans to achieve in the future.Justify how the five (5) key objectives established support the mission and vision statements of the company as defined by management.The six key objectives listed above for Whole Foods Market supports both its mission and vision statements because it outlines in depth how the company as a whole functions to drive its desire to be a market leader within the natural and organic food retail industry and utilize all of its resources (from locations to team members, etc.) to plug the organizations succe ss is not just financial gain. The company prides itself on its customer service and ability to provide excellent products and services to its customers because its customers are what will continue to allow Whole Foods Market to do what it loves to do best.ReferencesThompson, A. A., Strickland, A. J., & Gamble, J. E. (2010). Crafting and executing strategyThe quest for competitive advantage Concepts and cases 2009 customer edition (17thed.). bare-assed York McGraw-Hill-Irwin.Whole Foods. 2013 Whole Foods. http//www.wholefoodsmarket.com/company-info