Company Overview
Whole Foods is in the grocery and food market industry. They are known as a more elite grocery store that takes pride in quality products and service, competing with other corporations such as Kroger and Trader Joe’s. Customers are willing to spend a premium on products that are organic or natural. The company is environmentally aware and reaches out to the community in ways such as donating to food banks and shelters. Whole Food’s community giving exceeds 5% of their total net profit every year.
Whole Foods started out as one small store in Texas in 1980, and now has transformed into 360 stores throughout North America and the United Kingdom. Their core values are rooted in giving the best organic and natural products, valuing satisfying the customer, leadership within the organization, and promoting wealth through profits and growth.
The company is on a mission to become the elite organic and natural foods provider. They want to promote a world that values human creativity, diversity, and individual choice. Whole Foods want to be the best that they can be without harming human and ecosystem environments. It is Whole Foods mission to create a world that is sustainable beyond the food industry, and actively invests money towards that movement. This company has been positively affected by the socio-economical trends of a move towards healthier living.
The company distinguishes itself from others by not only offering products that are of greater quality, but safer and healthier for the consumer. They have a business model that is wrapped around giving the customer the ultimate satisfaction when making a purchase. This is what also allows them to charge a higher price. Their ability to make the customer feel not only satisfied, but also appreciated is what has granted them their key success factors.
Whole Food’s current ratio decreased from 2.15 in 2012 to 1.82 in 2013. The current ratio is used to measure a...