Krispy Kreme Srategic Plan
Table of Contents
Executive Summary………………………………………………………………… 4
Company Background……………………………………………………………… 4
Mission Statement………………………………………………………………….. 4
Vision Statement……………………………………………………………………. 5
Value Statement……………………………………………………………………. 5
Environmental Analysis……………………………………………………………. 5
Internal Analysis……………………………………………………………………. 6
External Analysis……………………………………………………………………. 7
Differentiation Opportunity..………………………………………………………… 8
Innovation Opportunity……………………………………………………………... 8
Value Chain…………………………………………………………………………. 9
Low Cost Opportunity……..………………………………………………………..... 9
Grand Strategy………………………………………………………………………. 10
Key Success Factors………………………………………………………………….. 11
Risk Management…………………………………………………………………….. 12
Contingency Plan…………………………………………………………………….. 13
Conclusion………………………………………………………………………………. 14
References………………………………………………………………………………. 15
Krispy Kreme Strategic Plan
Executive Summary
This strategic plan considers the growing market of the doughnut and coffee industry and looks to keep Krispy Kreme as a forerunner within this industry. This proposes some environmental analysis, contingency plan, and implementation in order to continue growth and maintain a competitive advantage within the market.
Company Background Krispy Kreme Doughnuts first opened its doors on July 13, 1937. A Mr. Vernon Randolph first acquired a secret yeast recipe from a French chef from New Orleans and opened his first store in a building in Winston-Salem, NC. He started just selling doughnuts to local grocery stores, but with the aroma of hit, fresh doughnuts lingering in the streets, people demanded these doughnuts for purchase. So Vernon then cut a hole in the outside wall and sold fresh doughnuts to people passing by on the streets. By the 1940s, Krispy Kreme had a small chain of stores, most family owned that used the Krispy Kreme recipe but were made from scratch. Mr. Randolph felt this didn’t provide
Executive Summary………………………………………………………………… 4
Company Background……………………………………………………………… 4
Mission Statement………………………………………………………………….. 4
Vision Statement……………………………………………………………………. 5
Value Statement……………………………………………………………………. 5
Environmental Analysis……………………………………………………………. 5
Internal Analysis……………………………………………………………………. 6
External Analysis……………………………………………………………………. 7
Differentiation Opportunity..………………………………………………………… 8
Innovation Opportunity……………………………………………………………... 8
Value Chain…………………………………………………………………………. 9
Low Cost Opportunity……..………………………………………………………..... 9
Grand Strategy………………………………………………………………………. 10
Key Success Factors………………………………………………………………….. 11
Risk Management…………………………………………………………………….. 12
Contingency Plan…………………………………………………………………….. 13
Conclusion………………………………………………………………………………. 14
References………………………………………………………………………………. 15
Krispy Kreme Strategic Plan
Executive Summary
This strategic plan considers the growing market of the doughnut and coffee industry and looks to keep Krispy Kreme as a forerunner within this industry. This proposes some environmental analysis, contingency plan, and implementation in order to continue growth and maintain a competitive advantage within the market.
Company Background Krispy Kreme Doughnuts first opened its doors on July 13, 1937. A Mr. Vernon Randolph first acquired a secret yeast recipe from a French chef from New Orleans and opened his first store in a building in Winston-Salem, NC. He started just selling doughnuts to local grocery stores, but with the aroma of hit, fresh doughnuts lingering in the streets, people demanded these doughnuts for purchase. So Vernon then cut a hole in the outside wall and sold fresh doughnuts to people passing by on the streets. By the 1940s, Krispy Kreme had a small chain of stores, most family owned that used the Krispy Kreme recipe but were made from scratch. Mr. Randolph felt this didn’t provide
References: Krispy Kreme Announces Development of New Hot Doughnut Technology. (2001). Retrieved from http://www.thefreelibrary.com/Krispy+Kreme+Announces+Development+of+New+Hot+Doughnut+Technology.-a078694732. Krispy Kreme Doughnut Corporation. (2012). History. Retrieved from http://krispykreme.com/about-us/history. Pearce, J. A., II, Robinson, R. B. (2011). Strategic management: Formulation, implementation, and control (12th ed.). Boston, MA: McGraw-Hill/Irwin.