Generic Benchmarking Worksheet PAGE \* Arabic 1
Best Snacks Generic Benchmarking WorksheetUniversity of PhoenixGeneric Benchmarking Worksheet
Task A: Problem/Opportunity Statement
Best Snacks can return to an industry leader in the snack food industry by implementing creative processes from generic benchmarking innovative companies.
Identifying and recommending opportunities for Best Snacks that is currently failing to meet goals and objectives, comes with lack of producing viable ideas and executing them in a timely manner. Resources, support, confidence and change are the key factors required to make Best Snack a competitive threat to other manufacturers and distributors of the products. Opportunities with Best Snack can be taken and found from the examples of Netflix; an organization used the creativity and innovative ideas of the public by holding a "contest" to help change and improve the organizations current operating structure. With a new CEO to the Best Snacks operations. The organization can find that little investment can be made to receive the best information and resource to spear-head innovative ideas. With a long history in the business, reaching out to loyal Best Snack customers can help put to the table new products to market.
Best Snacks, Inc has given exceptional and secure investment to their investor, thus making it number one in the Snack market. Over the past couple years, Best Snacks' sales have dropped tremendously, they have seen their stock prices go down, and the market share has decreased. Best Snacks can make radical innovation and creativity a vital part of the organization's culture. Due to the increase of companies going out of businesses because of the tough economic times, organizations reevaluating their current practices and identifying ways to stand out in the industry. Though in the snack food industry business for more than 150 years, Best Snacks is not immune to economic instability. Because the company is struggling, the new chief executive officer, Elizabeth Fairchild is looking over the company's current practices to create a strategic plan that will reflect the opportunities available for creativity and innovation arrive at the Best Snacks back to the point of market leadership which they once were.
Best Snacks Inc. is a 150- year old company with a well-known reputation for being in the number one or two spots for the snack markets. With sales slipping, stock prices plunging and smaller competitors in the horizon Best Snacks is for the first time in a position where the threat and danger of losing it top industry spot. Much of this lose of the top spot has been a direct correlation to the organizations inability to cultivate a culture of innovation, creativity, development, and marketing. They have been comfortable with the ways the current operating structure have been and have not taken risks to update systems, ideas, or processes.
With the retirement of the old CEO of Best Snacks, in the past...