Practices for Strategies to Increase Financial Performance and Optimal Position

Financial Strategies for Growth
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Financial Strategies for Growth
Ben & Jerry’s is a multinational firm that manufactures frozen yogurt, sorbet, and ice cream. The company was established in 1978. Indeed, it produces more than fifty distinctive products that are made with high-quality and ethically obtained ingredients. Since the firm was founded, it has continually maintained best ethical practices, such as using genetically modified-free ingredients, creating a dairy farm sustainability initiative, and developing a recruitment program for ex-convicts. The paper focuses on strategies of how Ben & Jerry's can increase financial performance and optimize its market position while maintaining ethical financial practices.
In reality, identifying the industry financial best practices to increase financial performance, optimize the market position, and maintain ethical practices for Ben & Jerry's was not straightforward. The researcher used various keywords before coming across reliable peer-reviewed articles. The first research method used was to search in the Google Scholar, ERIC, EBSCOhost, and SAGE Journals databases. These are among the best scholarly databases with millions of credible journals and articles. However, it was not easy to get the best financial practices that Ben & Jerry’s can use to increase its financial performance, optimize its market position, and maintain ethical practices. After a thorough search and article review, the researcher found a peer-reviewed journal that was crucial to the study question at hand.
In addition, a mixed method was used that involved searching for surveys, interviews, and secondary sources that discuss how companies can raise their financial performances, optimize market positions, and maintain ethical practices. Nevertheless, in the scenario at hand, the researcher’s hands were tied to the ice cream industry. One of the most significant things that an individual learned is that about 89% of American consumers thought positively, 83% remained loyal to their brands, and 86% trusted the companies that prioritize their purpose (George, 1). Since Ben & Jerry's is a renowned ice cream brand in the United States of America (USA), the company can boost its financial performance by introducing a variety of ice cream flavors. All in all, identifying credible sources was challenging, but the researcher did everything to document all ideas borrowed from these credible journals.
The primary best practice that Ben & Jerry’s can use to increase financial performance, optimize the market position, and maintain ethical practices is adopting technology. Specifically, the company serves numerous businesses and consumers who are ready to purchase its high-quality products. Technological innovations can help Ben & Jerry’s to build and sustain proper relationships with its stakeholders and promote effective and real-time communication. Due to the hig...