Best Snacks Problem Solution
May 12, 2011
Best Snacks Problem Solution
Best Snacks, Inc is a 150 year old company that has been held publicly for more than 100 years. Although the company has enjoyed many years of success, it has recently failed sustain its success due to the lack of innovation and creativity over the last 5 years. In today’s business environment innovation is necessary to sustain success and is an integral part of the business model. The ability to learn faster, better, and more cheaply than the competitor can mean the difference between maintaining market leadership and barely surviving (Davila, Epstein& Shelton, 2006). To ...view middle of the document...
Top management of Best Snacks, Inc can change the course of the company by leading by example. If top managers do not understand the inevitable challenges of innovation, the efforts are doomed to failure even as it starts (Davila, 2006, p. 256). Innovation is not an option for organizations, it is necessary for long term success. Best Snacks has failed to be innovative in the last 5 years and is losing sales and stock prices are falling. The leadership of Best Snacks, Inc has an opportunity to learn from its failures by developing and implementing a strategy that that will help increase and encourage the creative skills of the employees. Although innovation implies that something new is created, Best Snacks can gain a lot of ground by carefully evaluating the products and a process that is currently has in place. Innovation is the process by which organization use their resources and competencies to develop new or improve goods and services so that they can better respond to the needs of their customers (Jones, 2004, p. 403). By identifying the issues and opportunities that it has Best Snacks, Inc will be able move forward in making strategic decisions for the company’s future.
Stakeholder Perspectives and Ethical Dilemmas
Creating a new culture and developing new management systems will address the ethical dilemmas identified. While the competitors may view the current situation at Best Snacks, Inc as an opportunity to capitalize and gain a competitive advantage, Best Snacks views the situation as an opportunity to learn and grow as a company by creating a new culture. The culture will address the dilemma of fear of change and challenge the employees to adopt a new way of thinking about the importance of innovation and what is means for the future of success. Furthermore, customer satisfaction will be a priority with the new strategy and addresses the dilemma if customer satisfaction is more important than the changes that need to take place at Best Snack, Inc. The solution picked addresses the issues and ethical dilemmas that Best Snacks, Inc. may be faced with throughout the change process.
Frame the Right Problem
Best Snacks, Inc has fallen behind its competitors due to a lack of innovation and creativity. Identifying the issues and opportunities that it has will help Best Snacks become a major competitor in the snack industry. Best Snacks, Inc. will regain and maintain its position as a leader in the snack industry by creating a culture of innovation and by creating management systems that are aligned with the new organizational strategy.
Describe the End-State Vision
Best Snack’s vision is to be the only snack company in the world to make radical innovation and creativity a part of the organizational culture and to provide customers with a variety of snack options.
Identify the Alternatives and Benchmarking Validation
Best Snacks, Inc is at an impasse and must carefully evaluate its alternatives to formulate a strategic plan...