Krispy Kreme Srategic Plan

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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 consistently across all stores, so he built a mix plant and developed a distribution system to provide a consistent dry mix to all Krispy Kreme stores. From then on, Krispy Kreme continued to grow into the business it is today. Mission

Krispy Kreme Doughnuts mission is “to touch and enhance lives through the joy that is Krispy Kreme.” This shows the care that the company has in sharing the greatness of their recipe with the world. Krispy Kreme not only wants to provide a great tasting doughnut, but wants to actually make a difference in the lives of its customers through their quality. Vision

Krispy Kreme’s vision is “to be the world leader in sharing delicious tastes and creating joyful memories.” This statement reflects what Krispy Kreme is aspiring to be as a company in the doughnut industry. They not only want to popular locally, but take it further and be the leader of the world in the industry. Values

The values of Krispy Kreme include being the best at what they do while keeping customer service and quality at the forefront of their business. These statements focus on providing fresh foods in a timely manner to keep customers happy and tasting delicious doughnuts. By visiting different Krispy Kreme locations, we can check the consistent quality of their products and the will of employees to provide prompt and quality customer service. Through research of community events the company participates in, we can also validate their values of customer service even outside the place of business. These values will help the company overcome possible internal and/or external environmental obstacles that may compromise the success of the business. Environmental Analysis

The success of a firm within their industry depends a lot on the number of other firms seeking the same market and the competition that this creates. Firms must possess and provide something different from others to gain this competitive advantage in order to attract more of the market than others. How is this...
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