Problem Solution: Best Snacks Inc.
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Problem Solution: Best Snacks Inc.
Best Snacks, Inc., a 150-year-old company is known as a top tier organization within its industry. Best Snacks has traditionally held the number one or two positions in the snack market, providing an outstanding return for their stockholders investment. But in the past several years, Best Snacks sales have been falling, market share has decreased and, particularly in the past two years, stock prices have taken a dive. This year, the company will finish a very weak second, and with several smaller competitors emerging as major players in the snack industry, Best Snacks is in danger of losing its long-held premier standing in the snack market,” (University of Phoenix, 2010, ¶ 2). The new CEO Elizabeth Fairchild is looking to reverse this trend, she understand that innovation and creativity are important to success of Best Snacks going forward. Her goals is to make Best Snacks the first consumer snacks company to make radical innovation and creativity a vital part of the organization's culture.
Describe the Situation
Issue and Opportunity Identification
Best Snacks has a number of issues confronting them, declining sales, complacency, and a lack of motivation within the employees. These issues are due to the lack of support from the previous management team. Best Snacks has the opportunity to benchmark its competitors and other successful organization in order to find way to remain competitive within their industry. Capitalizing on the new changes in leadership, Best Snacks has the opportunity to restructure their organization in a way that will foster an environment of creativity and innovation.
Stakeholder Perspectives/Ethical Dilemmas
There are a number of stakeholders in this scenario that includes the customers, executive management, employees, and stockholders. The key dilemma presented in this scenario is “risk”. Embarking on a plan to change the organizational culture at Best Snacks in order to promote and encourage...
Best Snacks, Inc., a 150-year-old company is known as a top tier organization within its industry. Best Snacks has traditionally held the number one or two positions in the snack market, providing an outstanding return for their stockholders investment. But in the past several years, Best Snacks sales have been falling, market share has decreased and, particularly in the past two years, stock prices have taken a dive. This year, the company will finish a very weak second, and with several smaller competitors emerging as major players in the snack industry, Best Snacks is in danger of losing its long-held premier standing in the snack market,” (University of Phoenix, 2010, ¶ 2). The new CEO Elizabeth Fairchild is looking to reverse this trend, she understand that innovation and creativity are important to success of Best Snacks going forward. Her goals is to make Best Snacks the first consumer snacks company to make radical innovation and creativity a vital part of the organization's culture.
Describe the Situation
Issue and Opportunity Identification
Best Snacks has a number of issues confronting them, declining sales, complacency, and a lack of motivation within the employees. These issues are due to the lack of support from the previous management team. Best Snacks has the opportunity to benchmark its competitors and other successful organization in order to find way to remain competitive within their industry. Capitalizing on the new changes in leadership, Best Snacks has the opportunity to restructure their organization in a way that will foster an environment of creativity and innovation.
Stakeholder Perspectives/Ethical Dilemmas
There are a number of stakeholders in this scenario that includes the customers, executive management, employees, and stockholders. The key dilemma presented in this scenario is “risk”. Embarking on a plan to change the organizational culture at Best Snacks in order to promote and encourage...