Whole Foods Market: The Worldwide Supermarket Leader of Natural and Organic Food

Transcript

00:01 |

Initial credits
00:20 |

Introductory words by John Mackey
00:50 |

A new business paradigm
- Influence of corporations
- Social perception of corporations
- Anti-globalization movement
- Branding problems
- Limitations of current business models
  - Economic theories during the industrial revolution
  - Business mentality today
- What is the purpose of a business?
- Who defines the purpose of a business?
  - Entrepreneurs as creators of a business
  - Evolution of purposes
  - Participants in a business
- Companies with great purposes
- The paradox of profits
  - Achievement of happiness
  - Profits as a secondary goal
  - Long term profits
  - Role of leadership
- Voluntary cooperation in business
  - Voluntary exchanges
  - Legal and fiduciary responsibilities of management
21:48 |

Whole Foods
- Core values
  - Selling the highest quality of natural and organic foods available
  - Satisfying and delighting our customers
  - Happy customers and excellence
  - Innovative employee practices
- Comparison of Whole Foods against Fortune 500 Companies
  - Distribution of income
  - Distribution of stock options
  - Stock price growth
  - Profits
- Whole Foods business results
- Economic value added: EVA
- Supplier partnership
44:56 |

Whole Foods social responsibility
- Communities
- Donations
- Global citizenship
  - Partnerships
  - Guatemala
  - Costa Rica
  - Future plans
- Environmental awareness
- Treatment of livestock animals
51:46 |

Limitations of current non-profit models
- Traditional stereotypes of organizations
- Holistic organizations
- Non-profit organization model
56:16 |

Conclusions
57:17 |

Questions and answers
- Why am I opposed to profit?
- Does philanthropy equal social responsibility?
- Is philanthropy "theft"?
- Who should control corporations? stockholders or stateholders?
- What about conflicts between various stakeholders? How do you create the right balance?
- A revision of Adam Smith's Wealth of Nations
01:04:43 |

Questions
- How do you create the right balance between profit maximization and consumer satisfaction?
- What is the percentage of full time employees of Whole Foods? How does it compare with the food retailer industry?
- When do you decide your company to become public? Are team leaders also shareholders?
- When did you decide to implement EVA?
- What happened to Whole Foods' stock value last year?
- How do you pick which communities you're going to invest?
- How did your relationship with Grameen Bank start? Why did you select Guatemala?
- Do you plan to open stores in developed countries?
- What would be the greatest challenge of opening a store in Guatemala?
- Did you have any previous entrepreneurship experiences?
- As Whole Foods' expands, will you change the proportion of organic products and local goods?
01:33:21 |

Final credits

Whole Foods Market: The Worldwide Supermarket Leader of Natural and Organic Food

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