1. Examine the approach Trader Joe’s uses to promote a positive work environment for its employees. Determine at least three (3) ways in which Trader Joe’s is able to increase job satisfaction and performance.
Trader Joe’s has become a multi-billion dollar national chain partly through its ability to find cheap real estate, skip name brands and smartly manage its supply chain. Trader Joes is a company that truly appreciates it employee. They literally put their money where its mouth is. This company has no problem with compensating its employees. They make considerably more than its competitors also they are given a generous discount with instore purchases. Each employee is also given a great compensation package.Compensation within this company is great. Manager can potentially earn over 120,000 per year. They only hire from within. Another area in which Trader Joe’s excels is in showing people what some call the “rainbow” or “light at the end of the tunnel.”
Demonstrating that there is a career path, or at least opportunities for advancement, helps bring higher-quality people into the organization from the outset. “It’s good that [Trader Joe’s has] been able to show how people move up in the organization and that it’s not necessarily going to take six or seven years of scanning products to get there,” Arnold says. “You have to show them they can move up in one or two years, or else you start to lose good people.” 1. Determine how Trader Joe’s uses the management process (planning, organizing, leading, and controlling) to develop its employees.
The Business plan on Trader Joe’s Case Analysis
Social media is a new aspect being brought into companies. Companies are using social media as a gateway for market research. The research collected helps strategist determine the best way to produce new products, reach new target markets, and notice trends within customer purchasing patterns. Trader Joe’s currently does not have an official social media, yet fans are creating fan-based accounts. ...
Potential Managers are sent to Trader Joe Univerity to learn the company. With this training they are able to run the store according to Trader Joes guidelines. They Have an intense loyalty to the company. Managers are able to teach part-time employee how to handle their customers and give them the loyalty they exspect.
1. Suggest two (2) ways that leaders can effectively manage relationships in general by using the four (4) EI competencies. 2. Self-awareness–the ability to understand our own emotions and how they impact others 3. Social awareness–the ability to understand the emotions of others 4. Self-management–the ability to think before acting
5. Relationship management–the ability to build rapport with others
This company is completely aware of who they are and what position they hold within this markert. They understand consumers and the place they hold within the markert. There ability to build a positive relationship with its customer is crazy. They have the market on lock with this. “This is apparent in the melting pot of consumers that shop at Trader Joe’s. But these product selections are not merely attempts to attract a growing multicultural population. These are intentional forward-thinking strategic decisions to create an authentic and meaningful relationship with the fastest growing consumer groups in America (ie. Asians, Indians, Hispanics, etc.).
And it is apparent that Trader Joe’s carefully addresses their diverse consumer needs in their research & development efforts: from product quality, product origin, packaging to the subtle attention to detail that cater to the cultural nuances of this consumer.
Trader Joe’s knows these consumer groups are loyal and incredibly viral within their own communities”. According to Forbes Magazine,” If you are a Chief Strategy Officer, small business owner, or entrepreneur that wants to understand the intricacies of how to grow or build a business by committing yourself to a culturally rooted strategy, follow Trader Joe’s. Since they don’t conduct public interviews or share their strategies, just shop the stores and pay close attention. The secrets are all in plain view on the shelves and within their consumer base. Enjoy the treasure hunt and visit their product demonstration stands for a taste of their authenticity!”
The Term Paper on Consumer Attitudes Towards Counterfeit Products
Counterfeit products and materials are knock-off, bootleg, pirated or other illegally produced materials that are produced and sold in violation of the Intellectual Property Rights (IPRs) of others or in a manner that fraudulently represent their quality or origin (Porteus, 2002). Despite the various anti-counterfeit efforts of multinationals and international trade organizations, counterfeiting ...
1. Recommend at least three (3) leadership practices that Trader Joe’s could implement in order to increase the competitive edge of the organization. Provide a rationale for your response.
Run a tight ship
Make things fun
Compensate Well
http://ocw.mit.edu/courses/sloan-school-of-management/15-768-management-of-ser
