2-1 Consulting Report

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Feb 20, 2024

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1 2-1 Consulting Report: Insights from Trader Joe’s Emilee Krenzien Southern New Hampshire University MBA 500: Building Business Leaders Dr. Mark Hobson April 3, 2022

2 Strategic Thinking versus Operational Thinking There are a couple differences between strategic thinking and operational thinking, but one of the major differences is the timeframe of the goals that are being set. Strategic thinking is focused more on long-term goals and looks at the company as a whole. Operational thinking is known for more short term goals, focusing on specific behaviors/actions that need to take place (Schermerhorn and Bachrach, 2020, p. 162). Trader Joe’s uses strategic thinking to keep customers coming back and to keep employees happy while working for the company. They use operational thinking to help keep costs low. Separating thinking into long-term and short-term will help the company grow and be motivated. The short-term goals will allow for better morale and faster growth. The long-term goals will give employees something “big picture” to work towards. One Strategic KPI A strategic KPI for Trader Joe’s would be an employee turnover rate. Trader Joe’s has a commitment to making their business a good place to work. They fulfill this commitment by offering employees benefits like competitive wages, medical benefits, paid vacation, paid retirement, and an employee discount on their already low prices (Schermerhorn & Bachrach, 2020, p. 390). Looking at the employee turnover rate will give Trader Joe’s a good indication if their strategy is keeping the same employees around long-term. One Operational KPI An operational KPI for Trader Joe’s would be a cost per item report for all food products. The goal is to keep prices low by getting rid of items that increase in price (Schermerhorn & Bachrach, 2020, p. 390). A way to achieve this goal is to look at how much it costs to order the same product each time it is ordered and compare it to the previous price of the product. This is

3 an operational KPI because it needs to be looked at frequently for it to truly be effective. The more often the prices are checked, the less time a product that has increased in price will stay on the shelves. SWOT SWOT analysis is important for companies to better understand themselves from within and for companies to see how they rank among the competition. The purpose of a SWOT analysis is to allow companies to see their strengths, both within and outside of the company, as well as potential threats and weaknesses (Sage Publications, 2022). A company should interpret the results by aligning their strengths with opportunities so they can take advantage of any opportunities that suit their strengths. Companies should also look at potential threats and decide on a plan to handle those threats if they needed to take action. The weaknesses should not be ignored either. Weaknesses that can be improved should be worked on and weaknesses that cannot be improved should be brought to attention as well (Schermerhorn & Bachrach, 2020, p. 199-200). SWOT Results Strengths Weaknesses The company treats their employees well so they are more willing to do their job and to go above and beyond what is expected The company is missing out of a demographic of customers because they offer less variety and more speciality foods Opportunities Threats More people are switching to organic diets and trying foods that follow their diet restrictions Competitors are adding more variety to their specialty food sections making Trader Joe’s less unique

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4 References Kivak, R. (2020) Key performance indicator (KPI). Salem Press Encyclopedia. Sage Publications (2022). How to do a SWOT analysis. Chapter One (video). https://sk-sagepub-com.ezproxy.snhu.edu/video/how-to-do-a-swot-analysis Schermerhorn, J.R., Bachrach, D.G. (2020) Management(14th) New Jersey: Wiley

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