What value can you get from Hershey's strategy?
Exploring Hershey's strategy offers you a valuable glimpse into the world of confectionery success. Hershey's, an industry giant, provides insights on building unwavering customer trust, fostering innovation in your products, and embracing corporate social responsibility. Their strategy underscores the importance of a timeless brand, customer-centric innovation, and community engagement. By studying Hershey's real-world strategies, businesses in the confectionery sector can learn how to establish a strong brand, drive innovation, and cultivate a positive corporate image. Hershey's success story is a guide for you, offering valuable lessons in achieving steady growth and leadership in your market.
What's included in this Hershey's Strategy Plan template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Hershey's Strategy Plan template for?
This template is designed for organizations in the confectionery industry who are looking to gain insights and best practices from The Hershey Company. It offers an actionable plan to help businesses in the industry define and achieve their own objectives.
1. Define clear examples of your focus areas
A focus area is a broad area of interest that a business wants to focus on. Examples of strategic focus areas that could fall under Hershey's Strategy Plan could be: Increase Brand Awareness, Increase Product Innovation, and Improve Supply Chain Efficiency.
2. Think about the objectives that could fall under that focus area
An objective is a goal that a business wants to achieve within its focus area. Examples of some objectives for the focus area of Increase Brand Awareness could be: Build Digital Platforms, and Increase Advertising Spend.
3. Set measurable targets (KPIs) to tackle the objective
KPIs (key performance indicators) are measurable targets or values that a business sets to track its progress on a particular objective. For example, under the objective of increasing website traffic, a KPI could be to increase website traffic from 1,000 people to 10,000 people.
4. Implement related projects to achieve the KPIs
A project is a plan of action that a business implements to help it reach its KPIs. For example, under the KPI of increasing website traffic, a related project could be to launch a digital advertising campaign.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform is a powerful tool that can help businesses measure and track their strategy plan in real-time. With Cascade, businesses can easily set objectives, design projects, and track performance to quickly reach their goals.