Reference no: EM131297524
Caribou Coffee is a coffee distributor in Minneapolis that has consistently grown over the years despite very tough competition in many markets. Caribou's overall mission is to uphold the highest standard of quality in its coffee beans and still make a profit. This requires its managers to manage the tradeoffs between the cost and quality of coffee beans.
In order to compete, Caribou must come up with one- to three-year plans. One-year plans are based on hard numbers, while three-year plans are more strategic in nature. Caribou finds that flexibility is important in its planning process because predictions are not always correct. During the planning process, Caribou's managers must make assumptions, which should be questioned to make sure they are reasonable. Flexibility entails being able to change plans if forecasts are not correct.
For example, at one point employee costs were higher than forecasted, and the firm had to regroup and make adjustments to make sure it could still meet its bottom-line objectives. Caribou is careful to spread out its purchases among several suppliers so that it is not dependent on any one supplier. Contingency planning is also very important to Caribou. For more information on Caribou Coffee, go to https://www.cariboucoffee.com.
Questions
1. What tradeoffs does Caribou face in focusing on both the freshness and quality of its coffee and the coffee's cost?
2. How was Caribou hurt when one of its suppliers experienced financial problems? What solutions did Caribou come up with to avoid such problems in the future?
|
Calculate the significance for the comparison of means
: Assuming that the processes have the same standard deviation, calculate the significance for the comparison of means.
|
|
Investors expect the stock to pay a year-end dividend
: A share of stock with a beta of .68 now sells for $58. Investors expect the stock to pay a year-end dividend of $2. The T-bill rate is 3%, and the market risk premium is 6%. Suppose investors believe the stock will sell for $60 at year-end. Is the st..
|
|
Identify at least two control tracking tools you would use
: Identify at least two control tracking tools you would use while implementing your Strategic Management Plan. How would these be specifically applied to your plan?
|
|
Processing of the encounter form
: 1. During processing of the encounter form (to generate the claim), the billing specialist notices that the provider entered a check mark in front of the procedure, "Hemoccult Stool," and a check mark in front of the diagnosis, "Gout." Because med..
|
|
Freshness and quality of its coffee and the coffees cost
: What tradeoffs does Caribou face in focusing on both the freshness and quality of its coffee and the coffee's cost?
|
|
Normal project completion
: Provide examples of reasons for project closures aside from normal project completion. How do these reasons affect closure processes for a project manager?
|
|
How will you ensure that the information is reliable
: Manage knowledge and information - [BSBINM601] Describe the ways in which staff and customer feedback is important when dealing with business issues - what methods can you use to identify business issues? Why is it important to define and analyse the..
|
|
Infiltration of the healthcare landscape
: Technology: Technology and connectivity will continue its steady infiltration of the healthcare landscape, branding and trust take priority over convenience, and the advancement and integration of connected health technologies will center on cyber..
|
|
Prepare a plan to manage the change from current operations
: Describe strategic planning techniques used to formulate alternative strategies designed to achieve stated business goals. Create a plan to implement a firm's strategy and manage the change from current operations.
|