Krispy Kreme Doughnut Strategic Management Plan

Strategic Management Plan
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Abstract
Reports have it that Krispy has been in expansion over period of time. The main focus and leading in the expansion process is the restaurant chain. It has attracted market in various countries. Its services, is suggested by many consumers, to be attractive and to explicitly address their needs. The main focus of operation of Krispy during its incorporation in 1937 was in North Carolina. Nevertheless, through succession of time, Krispy has expanded in its operations in various regions (Canadean, 2014)
The management strategies of Krispy Company has been key to its success and expansion. In 1996, Krispy expanded its stores to allow for operations in New York. Three years later, Krispy expanded to California. In 2001, its expansion reached Canada and Chicago. Thereafter, many subsidiaries came up. For instance, in 2003, Krispy reached many countries in Australia, United Kingdom and Mexico (Canadean, 2014).
Despite the successful expansion, from the year 2006, the Company has been facing license acquisition challenges. Results on the IFE, EFE, CPM, SWOT and financial ratio show that the Company is at par in competition. In order for any business to succeed, these factors must be fully analyzed and incorporated. (Hill, Jones & Schilling, 2014)
Introduction
Krispy Kreme Doughnuts Company came into existence in 1937. It was founded by Vemon Rudolph. Krispy deals with doughnuts and packaging of sweets for both retail and wholesale marketing incorporation. The Company is widespread in many countries worldwide. However, it mainly operates in North America. Krispy Kreme Doughnuts is licensed to deal with doughnuts and various beverages in restaurants and leading hotels.
Americans and many people worldwide enjoy doughnuts and sweets. The Company has subsidiaries in many parts of the world facilitating the process. Some of these Countries include the United Kingdom, Mexico and countries in Australia. In its leadership structure, Krispy has a management team responsible for the Company’s entire formulation of the applied management strategies (Market Line, 2015).
According to statistics and Company’s reports, the Company faced great challenges in 2006. As a result, it lost some of its licenses. The challenges shook the Company to an extent of collapse. This paper carries the weight on the key management strategic plans. These plans include, SWOT, IFE, EFE, CPM and other analytic factors to help realize the success of the business.
Analysis
Krispy Company’s vision is to be a global leading restaurant dealing with doughnuts and complementary products. On the other hand, its mission is to show commitment in creating taste that leaves joyous memories in satisfying customer’s needs (Krispy 2015). Both the vision and mission of the Company are effective since they address the objectives of the Company in meeting the customer’s expectations in providing care and quality services. Furthermore, the statements aid in facilitating competition.
To fully analyze the strategic management of the Company, consideration is given to IFE, EFE, CPM, SWOT, Space and Financial ratio. These indices will help in pointing out to the specific weak points. Internal Factor Evaluation (IFE) gives an overview of the level of performance of the Company. It also points out the strength and weakness of the Company. According to the research conducted, Krispy Kreme’s Doughnuts (KKD) had an IFE score weighing 2.64. This score is above average weight of 2.50. Key strength in the IFE in the study was the quality doughnuts having a weight of 0.09. Besides, the cell phone application called Hot Now has necessitated services (Bettis, Gambardella & Helfat et al. 2014).
The key weakness in conducting IFE analysis weighed 0.06. This ratio represent the fall margin ratio for the past three years. The weakness was also seen in the disputes within the management. It is clear that for any Company to prosper, the disputes involving various franchise must be properly tackled. Therefore, the Company must uphold the quality of the doughnuts and carry out more invention and improvement on the Hot Now application. Above all, the disputes should be solved amicably to foster for growth.
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