Thursday, August 8, 2019

Implementation, Strategic Controls, and Contingency Plans Essay - 1

Implementation, Strategic Controls, and Contingency Plans - Essay Example ntiation generic strategy with the market development grand strategy that would be instrumental in increasing the market share and financial income by as much as 20% per annum for the 3rd year and too increase further to 30% from the 4th to 5th years. Implementation of Differentiation Generic Strategy: (1) Caribou should enhance visibility with the positive attributes at the core of their mission and vision statements (Bockstedt & Goh, 2012, p. 237) by increasing advertisements and promotional efforts; (2) Caribou should build customer loyalty through differentiating the Caribou brand from other specialty coffee brands in terms of focusing on the quality advantage; (3) Caribou should not only focus on satisfying customers; but more so, on delighting them and providing them with exemplary personalized experience as they purchase the company’s products. approximately 7 new stores per annum for the 3rd to 4th years and to increase to 10 stores per annum starting on the 5th year; (2) Caribou is renovating the current store within the Chicago market; (3) it will reintroduce a unique brand to the residents that has a customized Chicago-centric look and taste; (4) Caribou should expand beyond United States and would start operation in the Middle East, Colombia, and some parts of Europe starting from the 3rd year to the 5th year time period. From among the noted activities for the strategies identified, the following are emphasized: (1) development of a franchising pipeline in the non-traditional locations like airports, offices, and hospitals within United States; (2) opening of new stores within strategic locations in the U.S.; (3) renovation of the Chicago store; (4) expansion to international markets. The milestones include: (1) the expansion which would mark the company first-owned store for the past five years; (2) expanding into international markets; and (3) renovating the current store in the Chicago market. Current and future resources would be primarily

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