Problem Solution: Best Snacks Inc.
Best Snacks Inc. have held the number one or two position in the snack arena giving exceptional and secure investments for their investors. Best Snacks has an opportunity to shift its culture towards the necessary skill in order to continue to compete in the market place. Five years ago, Best Snacks, Inc. began a concentrated effort to make creativity and innovation an integral part of its corporate culture. Over the past six months, the health food group has failed to meet several key expectations. According to Davila, Epstein, & Shelton, (2006), Innovation is a necessary ingredient for sustained success, an integral part of the business, and the only reliable security for any company (Davila, Epstein, & Shelton, 2006). This paper will address Best Snack’s circumstance in a manner of resolving issues and realizing future opportunities, engaging stakeholders throughout the process to ensure success, and implementing a strategic plan involving new innovative ways and creativity as a vital part of the company’s culture.
Describe the Situation
Issue and Opportunity Identification
“The key to learning is not to avoid making mistakes but to learn from them” (Davila, Epstein, & Shelton, 2006, p.1). Best Snacks, once a market leader in the snack food industry, has begun to lose its strong position in the market place. Best Snacks, Inc. began a concentrated effort to make creativity and innovation an integral part of its corporate culture, but has once again lack innovation and creativity. According to Davila, Epstein, & Shelton (2006), it is impossible to predict in the beginning of the creative process what ideas will be successful and which will not; however, it is important to realize that failure is part of the creative process (Davila, Epstein, & Shelton, 2006, p.11). CEO of Best Snacks, Elizabeth Fairchild, has identified important issues within the organization that needs to be addressed in order for the company to regain...