Question

Please answer the following questions in detail on "Vitamin Shoppe".

1) Do the strategies of the organization clearly utilize its core competencies, its differentness in the market?

2) Does the organization consciously relate its long term objectives to its vision and mission, on the one hand, and to its strategies, on the other hand?

Answer 1

Do the strategies of the organization clearly utilize its core competencies, its differentness in the market?

Vitamin shoppe’s core competencies are as follows:

1. Value-Added Customer Service,
2. Product Selection, Including a Strong Assortment of Private Brand,
3. Attractive Customer Base,
4. Highly Refined Real Estate Strategy,
5. Multi-Channel Retailer,
6. Experienced Management Team with Proven Track Record,

With the changing environment company adopted a reinvention strategy that involves the follows:

1. Upgrading our Customers’ Shopping Experience through use of technology
2. Building Relationships
3. Store and Comparable Sales Growth
4. Cost Reduction Initiatives
5. Private Brands
6. Vertical integration

Company’s strategy to reinvent itself closely follows the company core competencies. They capitalize of the current core competencies to increase the customer loyalty by increasing the customer experience through use of technology enablement and relationship management through personalized approach. This also involves using the management to vertically integrate the company with downward and upward supply chain partners to improve the costs.

Reference: Annual report-2016 of the company.