Strategic Hospitality Management
A case analysis of Dunkin’ Donuts with a focus on tools available for strategic planning.
The following essay is based on the Quick Service Restaurants brand (QSR)- Dunkin’ Donuts. The company has been studied and a case study regarding the growth of the company from 1950 till today has been studied. Growth strategies of the company have been used to understand how they reached the position of America’s largest QSR. The Legal, Moral and Ethical Issues of the company have also been studied and the solutions to those issues and the implementation has been studied
Growth Strategies used by Dunkin’ Donuts
Legal, Moral and Ethical Issues
Conclusion and Recommendation
Strategic planning is a process that brings to life the mission and vision of the enterprise. A strategic plan, well crafted and of value, is driven from the top down; considers the internal and external environment around the business; is the work of the managers of the business, and is communicated to all the business stakeholders, both inside and outside of the company. As a company grows and as the business environment becomes more complex the need for strategic planning becomes greater. There is a need for all people in the corporation to understand the direction and mission of the business. Companies consistently applying a disciplined approach to strategic planning are better prepared to evolve as the market changes and as different market segments require different needs for the products or services of the company. The Process
There is no one formula or process for strategic planning. There are however, principles and required steps that optimize the value of strategic planning. The steps in the process described in this series of articles on strategic planning are presented below: * Current Situation Analysis
* Segmentation Analysis
* Strength, Weakness, Opportunities, and Threat Analysis * Core Competencies Analysis
* Key Success Factors
* Business Unit Strategy / Business Plan
* Balanced Score Card
The choice, of the planning process that works best, should be driven by the culture of the organization, and by the comfort level of the participants. The strategic planning process must mirror the cultural values and goals of the company. There are a number of important steps to remember in the process of strategic planning. They include collecting a meaningful and broad data base, resourcefully thinking about separation, defining gaps, assessing core competencies, and understanding the identifying critical resources and skills. An important distinction in the process is to recognize the difference between strategic planning and the work being done, and strategic thinking, or the creative, intuitive input. The planning element involves the data collection, goal setting, expectation definition and statement of direction. Strategic thinking includes the intuitive and creative elements. This thinking process takes into account and helps to leverage the values of the internal culture of the business and external characteristics of the market. Strategic planning can be a challenging process, particularly the first time it is undertaken in a company. With patience and perseverance as well as a strong team effort the strategic plan can be the beginning of improved and predictable results for a company. At times when the business gets off track a strategic plan can help direct the recovery process. When strategic planning is treated as an ongoing process it becomes a competitive advantage and an offensive assurance of improved day to day execution of the business...
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