Implementation, Strategic Controls, and Contingency Plans - Essay Example

Implementation, Strategic Controls and Contingency Plans Titilayo Bakre, Shannon Carl, Tiffany Childs, Sandra Franklin, Sue Hansen STR/571 June 11, 2012Robert PaulyImplementation, Strategic Controls and Contingency PlansImplementation Plan As explicitly indicated, the strategies chosen to be implemented for Caribou Coffee are the differentiation generic strategy, in conjunction with the market development grand strategy. In this regard, Triple D is hereby creating an implementation plan for the new strategies selected, including short-term objectives, action plans, activities, milestones, resource allocation, WBS and Gantt chart, covering each of the 3 to 5 years in the strategic plan.

Short-Term Objectives Triple D aims to strengthen its foothold in the specialty coffee market through implementing the differentiation 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.Action Plans 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.

Implementation of Market Development Grand Strategy: (1) Caribou is opening 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.

Activities 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.Milestones 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.

Resource Allocation Current and future resources would be primarily allocated for expansion purposes: opening of new stores (30%), renovation (15%), planning and implementing expanding to international markets (50%), increasing advertising and promotions (5%).WBS and Gantt ChartWBS Task Name Year 3 Year 4 Year 5 1 Implementation of Generic ================ Differentiation Strategy1.1 Increase ads and promo ===1.2 Build loyalty thru quality ======1.3 Delight customers =================WBS Task Name Year 3 Year 4 Year 52 Implement Grand Market Development Strategy 2.

1 Open 7 stores =================2.2 Open 10 stores ===============2.3 Renovate Chicago store ===========2.4 Expand to International ========================================= Markets2.4.1 Middle East =============2.4.2 Colombia ================= 2.4.3 Some parts of Europe ===============ReferenceBockstedt, J., & Goh, K. (2011). Seller Strategies for Differentiation in Highly Competitive Online Auction Markets. Journal of Management Information Systems, 28(3), 235-268.