Step 5 : Develop action plan for the best alternative.
The best alternative that we recommended to Frito-Lay company is to acquire Cracker Jack brand. So in order to make the acquisition successful, the best action plan that Frito-Lay can do is to relaunching the Cracker Jack brand through organization restructuring and institution of new culture, A New Cracker jack Generation and communicating the new message.
Organization restructuring and institution of new culture
In order to implement organization restructuring and institution of new culture, the Frito-Lay company must emphasize on collaborative environment and promote the family-centric value. The company should creating an environment that fosters communication, collaboration, and togetherness, so it will ultimately shape a productive workplace. It is important for Frito-Lay to build an internal corporate culture that is aligned with the brand's core values of family and fun as to promote family-centric value among employees. In order to cultivate the Cracker Jack family, the company should share the Cracker Jack mission statement and values.
Cracker Jack's mission is "to provide a superior snack that connects families young and old through shared traditions, old and new." Employees will truly understand what the Cracker Jack brand was built on and connect a bridge between the brand and their daily work.
The company also have to implement the following initiatives at the corporate level in order to support its employees: Ã¯ÂÂ§ Quarterly family picnics Ã¢ÂÂ a way for employees to bring their families together Ã¯ÂÂ§ Bring your children to work day Ã¢ÂÂ twice a year Ã¯ÂÂ§ Day care partnership Ã¢ÂÂ discounts for all employees.
They also have to ensure allÃ¢ÂÂmember involvement by: Ã¯ÂÂ§ Hiring a staff that is committed to adopting the mission of the brand Ã¯ÂÂ§ Focusing on collaborative rather than topÃ¢ÂÂdown management Ã¯ÂÂ§ Collaborating with all members when...