The significance of strategic management plays an important role in the management of any organization. The timing plays a critical role in determining when the Whole Food Market should introduce and aggressively implement their strategic plan to expand the horizons of the company. This necessitates a clear and forthright understanding between company managers and employees who can address the strategy –strategy formulation plan in the context of the mission of the company and achieves it within the framework of time. The framework of time which needs to be taken into account are the quarterly milestones, which are formulated in harmony with vision of the Whole Food Market with two specific strategies incorporation of the technology within the existing system and international expansion of the marketing unit. These two milestones are evaluated in the context of marketing, finance and accounting, R&D and management of the information systems. There needs to be strategic integration of strategic formulation, strategic implementation as well as strategic evaluation of the proposal presented.
The implementation plan of the strategy for The Whole Food Market implies good positioning of the forces which impact the action plan in two years from 2009-2011. The management of the forces for this specific time period has to be seriously considered. It is also necessary to focus on the effectiveness and efficiency with regard to the implementation process. The intellectual process and operational process also needs to be evaluated. The engagement of sound intuitive skills and analytical skill will give boost to the planning process. There is also need to address the levels of motivation and leadership skills in the employees. The management of the coordination between the members of the company is also critical. The formulation of the right and accurate strategy is the key implementation and success as far as the vision of the company is considered.
“Implementation strategies requires such actions as altering sales territories, adding new departments, closing facilities, hiring new employees, changing and organization’s pricing strategy, developing financial budgets, developing new employees benefits, establishing cost-control procedures, changing advertising strategies, building new facilities, training new employees, transferring managers among divisions, and building a better management information system”(David)
It is a challenge to evolve and develop an implementation plan based on the above mentioned criteria’s aiming to enhance the technological system as well as target the international growth. The company needs to develop a long term objective which addresses the various departments as well as has the capability of penetrating the external market. The quarterly progress of the implementation plan needs to be evaluated so that it indicates steady growth with a vision and target for 40 to 50 % growth from current year to the following year. There is need to have close watch which ensures the increase and growth within the formulation of the strategic plan.
The Objective of the R&D on the quarterly basis should aim at introduction of selected few products each quarter which is successfully marketed. The productivity should be aimed at 30 % increase each year with steady growth on quarterly basis. The productivity should be considered and quality control should be part of the agenda.
The marketing objective should aim at targeting the number of people the company wants to hire by the end of the year or on quarterly basis. This will require integration of advertising, promotion, research and public relations. The number of sales people should increase each quarter.
The role of finance and accounting is very critical in obtaining the long term goal of $300,000 for the end of two quarters in the first year. This will require close monitoring and clear implementation of mechanism to maintain audits and accounts. The investment should be examined and collections should be allocated in the right channels and working capital should be utilized to its full potential.
Every effort should be made to reduce employee absenteeism. This also necessitates sound investment to upgrade the technology department and give boost to the marketing department which can target the external market invasion strategies.
It is very important to formulate and implement a strategy, but evaluation of the strategic plan is vital for the success and growth of the Whole Food market. The management needs to be alert and issues need to be resolved speedily. The effectiveness of the implementation of the strategic plan ought to be developed within the framework of effective evaluation system. The implementation plan has to be fully backed by sound auditing system and reliable contingency plan. The focus on technological upgradation is the most necessary requirement to evaluate the strategy accurately and also to check the guidelines in the context of its effectiveness within the framework of the strategic management plan developed on the basis of strategic formulation. It is also important to keep into consideration that organizations are most vulnerable when they are have hit the highest point of their success.
David, Fred R. Strategic Management: Concepts and Cases (12th Edition). 2008.