Case study Essay Example | Topics and Well Written Essays - 1750 words - 5

Case study - Essay Example The study takes into account the implications of social media from the context of customer as well as employees. It also analyzes social media as a tool for Customer Relationship Management. The study also highlights ways to implement social media in organizations. It suggests certain guidelines that must be followed by organizations while implementing social media in organizations. Finally an effort is also taken to include the measurement of success of social media with the balanced scorecard approach. The term â€Å"Social Media† generally refers to media dedicated for social interactions. Social media makes use of various online and web technologies to transform the media monologues into their sociable forms. In the contemporary context social media can be appropriately defined as a collection of web based applications which build the foundations of the internet. Social media has come a long way from being an exclusive element of IT domain to everyday social networking sites like Twitter, Facebook, and blogs etc which command a huge reach and can drastically affect a firm’s business prospects. Social media has been effectively used by organizations as a tool for reaching out to their prospective customers. The growth of social media has been largely used by many organizations as a promotional tool. Moreover, with the advent of social networking and blogging sites, social media has become an important means of getting customer feedbacks about their products and services. These days many organizations have a dedicated department that handles social media related issues. Organizations need to frame their social media policies so that it provides them with the ways and means to deal with possible opportunities and threats. The spread and easy accessibility of the internet has taken away the luxury that used to exist when non web based sources were used as a social media tool (Kane, et al., n.d.). The use of social media enables organizations to get

Strategic analysis of Whole Food market Coursework

Strategic analysis of Whole Food market - Coursework Example The stores are located in 38,000 square foot in size which conform to the locality and community that they serve and which have observed 5% year on year growth. The company’s stock was boosted by nearly 38% which has seen 17% growth in EBITDA to $835 million and 20 year compounded annual growth rate of nearly 26% (ar, 2011). 1.1 Vision and mission Company’s vision is to become a global brand for best quality natural and organic food and best food retailer of organic food in every community that it serves. The mission statements of the company are designed to meet the food requirements of the people by providing them with healthy and nutritious food so that they can lead a healthier life and live longer. The core values of the company focus on sustainable business practice and ensure complete customer satisfaction through quality food that is organically produced. They also empower people with knowledge and information that promote their general well-being. The core valu es are aligned to their strategic vision and mission that fundamentally cater to the interests of all its stakeholders including workforce, customers and supply chain. 1.2 Current strategy The current strategy is designed to encourage people to adopt healthy lifestyle through food that is organically produced. It ensures customer satisfaction by facilitating high quality of naturally and organically produced wide variety of food products. The Whole Food stores are strategically designed to meet the needs of its customers. They have cafeteria facility which ensured that customers could also taste and test the quality food that they would be buying. The brochures and information about food products and sustainable business practice empower customers with information which they use in their buying experience. 1.2.1 Goals and objectives The organizational culture greatly helps to achieve its broader goals and objectives of meeting the changing demands of its various stakeholders includi ng customer satisfaction. The company promotes more than 2600 SKU with its 365 Everyday Value, primary in-house brand (ar, 2011). The company’s goals are focused opening around 24 to 27 new stores and improving its sales growth to around 15%. Its major objective is to promote sustainable business practices. To achieve it, WEM emphasizes diversity in workplace and creates barrier free and encouraging environment to meet the needs of diverse community. The team leaders within the stores are empowered to make independent decisions that ensures improved performance outcome. The broader goals and objectives of WFM are achieved through measures like employees’ welfare schemes, environmental concerns, health and well-being and charitable works in the area of education, training and development of entrepreneurial skills etc. Its suppliers of food products from low waged countries were supported financially to ensure quality produce which also helped them to raise their living standard. It has introduced innovative processes to promote sustainable business practices within its in-house staff and business partners (ar, 2011). It has encouraged greater interaction with various focus groups and fostered alliances for proactive participation of the public and workforce in its drive for environmental conservations and community welfare. 1.2.2 Major strength The double digit growth rate, exemplary customer service and broad range of quality product lines are its major strengths. With approximately $11.7 billion revenue in 2011, the strong cash flow and stock position greatly favor the company in achieving its goals and objectives (yahoo, 2013). The growth plans of companies are primarily through opening