Whole Foods

Managerial economics

Managerial economics: Whole Foods

In many ways, Whole Foods defies current assumptions of what constitutes a successful company strategy. It is an organic niche supermarket that prices its products relatively high in relation to its competitors. Yet it has become wildly successful in recent years, even defying conventional predictions of its likely demise during the credit crisis of 2008. This paper will explore the 'secret' of Whole Foods success using the core principles of managerial economics. Concepts germane to managerial economics include: exploiting the elements of effective leadership; ethics programs and the ethical orientation of the company; risk-taking; optimizing organizational structure; optimizing strategic control; and the need for balance between rewards, culture, and boundaries.

The elements of effective leadership and ethics

When Whole Foods began as the brainchild of current CEO John Mackey, its product was what distinguished it from its competitors. Mackey has been called...
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