Krispy Kreme Doughnuts Corporate Profile Research

Krispy Kreme Doughnuts Corporate Profile
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Corporate profile
Krispy Kreme Doughnuts is a retailer and wholesaler dealing in doughnuts as well as packaged sweets. Krispy mainly operates in North America, but has subsidiaries in other countries with headquarters in SUITE 500, 370 Knollwood Street Winston-Salem North Carolina (Market Line, 2015). There are franchise stores offering doughnuts, and various beverages especially coffee. The domestic franchises are licensed to sell Kripsy’s products domestically including doughnuts and complementary products. The restaurant chain stores operate the doughnut shops selling products on premises and through the wholesale channels. The international franchise operations sell products through on-premises and the kiosk format (Reuters, 2015).
History
Krispy was founded and incorporated in 1937 by Vemon Rudolph, with the restaurant chain expanding over time and mainly focusing operations in North Carolina. In 1976, Beatrice Foods Company bought Krispy (Canadean, 2014). The company expanded by incorporating new store designs new designs and opening the first store in New York in 1996. This was then followed by expansion to California in 1999 and listing in 2000 (Canadean, 2014). In 2001, Krispy opened its international store in Canada and acquired Digital Java based in Chicago. In 2003 the company acquired Montana Mills Bread Co and expanded to other countries in Australia the UK and Mexico. In 2004 there was another acquisition of Golden Gate Doughnuts. Nonetheless, in 2006 there were challenges as the company terminated licenses for Great Circle Family Foods, a California franchise that faced financial troubles. (Canadean, 2014) The company also agreed to terminate the franchise of Lone Star Doughnuts based in Houston (Canadean, 2014).
Analysis of leadership structure
The leadership structure at Kristy’s has a management executive team being responsible for strategy formulation. The current CEO James H. Morgan has been crucial to the company’s turnaround, and expansion to new areas of operations there is a Committee responsible for ensuring there is smooth transition for the CEO’s and succession of the key members of the board. The senior management are in the areas of human resource, finance, franchises and Company store, Supply chain, marketing while there are is also a general counsel secretary (Canadean, 2014, 2014). The committee and the CEO also work collaboratively to promote employees who have the personality and skills to develop into leaders in various capacities.
Analysis of vision and mission statements
The company’s vision focuses on restaurant’s ability as a global leader in doughnuts and complementary products globally. The mission statement highlights commitment to creating taste that that leave joyous memories and good times for customers (Krispy Kreme, 2015). The vision and mission of the company are linked by the objective of being competitive in the doughnut market by focusing on meeting customer expectations and providing superior services. The company is committed to customers and employees, who are important stakeholders for the growth of the company. High quality servi...