Balance Scorecard Krispy Kreme

1. Mission: Our purpose, What we do

Krispy Kreme currently has no mission statement. This is considered quite strange for such a big company. A mission statement is indispensable when creating a sense of direction and purpose for both company employees as well as customers.

So the definition of a good and clear mission statement, for a growing and changing company like Krispy Kreme, is of the utmost importance.

If we look at the mission statement of one of KK’s biggest competitors, this may give us an indication of how our mission statement should look like.

Dunkin’ Donuts:

“to be the Quick Quality leader in its offering a higher evolution of the standard quick dining experience, with innovative product choices at the right price, served fresh, meeting the needs of people who are busy living”

Our mission statement should state; What Krispy Kreme is and what Krispy Kreme does.

The Krispy Kreme goal is: to provide our customers with an entertainment experience and to reinforce our commitment to quality and freshness

Krispy Kreme Brand elements:

1. one of a kind taste

2. doughnut making theatre

3. Hot Doughnuts Now!, the illuminated sign (functions as an impulse purchase generator)

4. Community relationships

We need to put in these characteristics together and include the commercial factor for the new mission statement.

Mission Statement:

“ Krispy Kreme Doughnuts is committed to provide its customers with high quality doughnuts, artesian breads and beverages on a daily fresh basis, while providing them with an entertainment experience”

2. Vision: Our picture for the future

When we look to the future of the company, there is a lot of change coming up, especially with these new strategic plans. All the plans are made to reinforce their structure, secure their market share and strengthen their core business.

These are solid elements which need to be written down in the vision statement.

Vision Statement:

“Krispy Kreme Doughnuts...