11 Nov Using your analysis of the strategic plan from the Week 2- Strategic Plan Research assignment,?complete?the following: ?(ATTACHED BELOW FOR REFERENCE) Analyze?in 350 to 525 words the:
Using your analysis of the strategic plan from the Week 2- Strategic Plan Research assignment, complete the following: (ATTACHED BELOW FOR REFERENCE)
Analyze in 350 to 525 words the:
- Purpose of the strategic plan
- Key objectives:
- Market development and how your ideas fit
- Process improvement
- Development of people
- Product/service – How do you deliver? Is there a way to improve quality over time to differentiate?
- Key performance indicators (KPIs) to measure performance over time
Recommend initiatives to support your objectives to improve the strategic plan.
Identify ways to adapt to the changing business environment.
Submit your assignment.
Ben and Jerry’s
University of Phoenix
October 30th, 2022
Ben and Jerry’s
Organization’s structure and future plans
Although it is owned by the British and Dutch conglomerate Unilever, its headquarters are in the United States. Ben and Jerry’s was first established in 1978 by Ben Cohen and Jerry Greenfield. The company's bread and butter manufactures frozen treats, including ice cream, frozen yogurt, sorbet, and ice cream novelties. The company's ultimate goal is to become a recognized leader in the dairy market (Marchese, 2020). They are looking to fill positions for research and development executives, consultants, and specialists in nutrition and diet. By doing so, they would be able to put their education, skill, and experience to good use in moving toward their goals.
Evaluation of the organization’s external and internal environments
· The Food and Drug Administration has required stringent labelling standards to assure that products (like Ben & Jerry's) are safe and up to standard. (Ciszek et al., 2018).
· Due to import duties, Ben & Jerry's ice cream is more expensive in other countries, which hurts the company's international competitiveness.
· The health of the economy of Ben & Jerry's key markets is crucial to the company's success.
· Environmental considerations have a role in the prosperity of ice cream enterprises. Many sweets and ice creams are based on food components produced in agriculture, such as chocolate, milk, and bananas.
STRENGTHS – Ben & Jerry's is an internationally renowned and prosperous business that began in the United States. Europe and Asia, where concern for society and the environment is common parlance. In the past few years, Ben & Jerry's has given away at least $1.1 million of its pre-tax income to charitable organizations (Ciszek et al., 2018). In addition to fighting climate change, gun violence, and the extinction of family farms, the firm is participating in several other worthwhile endeavours.
WEAKNESSES – Former chief financial officer Stuart Wiles was found guilty of embezzling $300,000 from Ben & Jerry's. Because of the negative publicity generated by the Humane Society's claims that Michel Foods inhumanely handled hens, the company was forced to switch egg suppliers. There were several issues with the company, but incompetent management and an unclear purpose were particularly problematic. They have taken on more long-term debt since they have invested in previously acquired property and equipment at a much higher value. They also borrowed a large sum of money on a capital lease, spent more on advertising and promotion, and built up their administrative infrastructure to automate their production and stay up with the fierce competition.
OPPORTUNITIES – In today's health-conscious culture, consumers appreciate the increasing availability of fat-free and nutritious ice cream and frozen yogurt options. Products free of common food allergens, such as gluten and peanuts, are in high demand. In the past, Ben & Jerry's may have been the first company in the United States to provide HFC-free freezers to supermarkets. They can enter new markets, such as those selling weight reduction products, by acquiring relevant firms (Ciszek et al., 2018). Then, they may increase their presence in regions where similar sectors and fashions are flourishing, such as Europe.
THREATS – Their target market changes product preferences frequently. Sales have stagnated due to declining family sizes and discretionary spending. Fattening desserts worry consumers—Ben and Jerry's target market read nutrition labels. Food contamination, especially e-coli, is always a risk. Nestle, Kraft Foods, Dunkin Donuts, and Dean Foods are prominent competitors. Global food firms with comparable goods and grocery store brands compete with them. To survive in the current economy, many of their competitors are combining.
People plan and the achievement of a diverse workforce
It is excellent that Ben & Jerry's Rope flavour has become a symbol for people of many races, religions, and cultures (Lim et al., 2021). They want to create a better, more suitable and inclusive organization by fostering an environment where diversity is embraced and seen as the firm's most significant advantage. They have formed an Equity Team to oversee the initiative and made substantial headway.
Corporate social responsibility and environmental sustainability
· With time, Ben & Jerry's hopes to use their business as a vehicle for advancing causes of social justice and global harmony. Increasing their purchases of Fair Trade ingredients might help them do that, contributing to greater economic and social justice (Sharma, 2019) and promoting Global Sustainable Dairy Products as a Frontrunner in Sustainable Dairy Farming Practices with Milk Suppliers around the World to Guarantee Strict Control and Regulation of Cloning.
· Finding an alternative to the ubiquitous plastic ice cream container is a significant priority for the company regarding its environmental impact. They say all the packaging must be made without any petroleum products. Everything must be recyclable, biodegradable, or reusable by 2025. The company has been working to lessen its impact on the environment for some time, but it knows it can still do more.
Marchese, D. (2020). Ben & Jerry's Radical Ice Cream Dreams.
Ciszek, E., & Logan, N. (2018). Challenging the dialogic promise: How Ben & Jerry’s support for Black Lives Matter fosters dissensus on social media. Journal of Public Relations Research, 30(3), 115-127.
Lim, J. S., & Young, C. (2021). Effects of issue ownership perceived fit, and authenticity in corporate social advocacy on corporate reputation. Public Relations Review, 47(4), 102071.
Sharma, E. (2019). A review of corporate social responsibility in developed and developing nations. Corporate Social Responsibility and Environmental Management, 26(4), 712–720.