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Key Topics
- Introduction
- Discussion
- The business expansion plan of Dairy Queen in New Delhi, India
- The mission statement and the values of the company
- The vision statement of the company
- Stakeholder Strategy
- Communications management plan
- Scope statement
- Work breakdown structure
- Risk register
- Cost management plan
- Milestones list
- Project scheduling
- Procurement management plan
- Human resource management plan
- Long-term objectives
- The components of growth
- Various loans for financing the company for expansion
- CSR activities that need to be done in India
- Analysis of external and internal environment of the firm
- TO BE CONTINUED...
Project Management Report on the expansion of the Dairy Queen in India
Introduction
The entire project will revolve around the expansion of the Dairy Queen in India. Dairy Queen is one of the well-known companies in the world of food. The company is headquartered in the United States and their CEO is John Gainor. The products which are served by the company include- ice cream, hot dogs, soft serve, soft drinks, milkshakes, salads, and etcetera. The company is an expert in the fast food industry. Hence, they are thinking to expand their roots in India. However, the parent company of Dairy Queen is Berkshire Hathaway. The logo of the company is quite innovative with an ice cream cone at one end of the logo. Throwing light on the above-mentioned statement, it can be said the ice cream cone in their logo suggests their specialty. It is simple yet eye-catching. In the recent times, it has been greatly observed and witnessed that the company is doing a good business in their industry that is one of the main reasons they are considering to expand in India. When the company expands in India they will enjoy the following advantages. Firstly, one of the main advantages that will be enjoyed by Dairy Queen is they will get a whole new bunch of people as their employees in India who will be qualified as well as skilled. It is already known that people are always considered as one of the most important assets of an organization. Therefore, when the company will get necessary skilled employees their growth rate will increase in India after expansion. The employees that are selected by the company will help them in their streamline processes, and the people will also help them to be more creative and innovative in the marketplace. In return, this will act as the competitive advantage for them in future. Secondly, another vital advantage that Dairy Queen
Will receive a large number of the consumer base. The company will be exposed to a large number of audiences after their expansion. Moreover, it has been observed that when a company has a large amount of consumer base then their sales increases at an alarming rate and it will result in the profitability of the company in future. On the other hand, the consumers are also regarded as the workers they are also the assets of the company. They are one of the most vital components that ensure smooth flowing of the business. Lastly, there are also large amount relocation facilities that are attached when the company relocates. There are a lot of countries across the globe that offers some amount of facilities to the companies who brings a reasonable amount of business to the state. If the business owners of Dairy Queen are wise enough then they should consider these things when they are relocating. The increased amount of accessibility with regards to the logistic suppliers and suppliers is also an important factor that is associated with expansion in other countries. The entire case study will also highlight the present condition of the company, what are their strengths, weakness, opportunities, and strengths.
Will receive a large number of the consumer base. The company will be exposed to a large number of audiences after their expansion. Moreover, it has been observed that when a company has a large amount of consumer base then their sales increases at an alarming rate and it will result in the profitability of the company in future. On the other hand, the consumers are also regarded as the workers they are also the assets of the company. They are one of the most vital components that ensure smooth flowing of the business. Lastly, there are also large amount relocation facilities that are attached when the company relocates. There are a lot of countries across the globe that offers some amount of facilities to the companies who brings a reasonable amount of business to the state. If the business owners of Dairy Queen are wise enough then they should consider these things when they are relocating. The increased amount of accessibility with regards to the logistic suppliers and suppliers is also an important factor that is associated with expansion in other countries. The entire case study will also highlight the present condition of the company, what are their strengths, weakness, opportunities, and strengths.
Discussion
The business expansion plan of Dairy Queen in New Delhi, India
The mission statement and the values of the company
The mission statement is considered to be one of the important ingredients that help the company to go in right direction. Smart business owners like Dairy Queen use the mission statement for reminding their employees why their firm exists because it is the main component that makes the organization so successful in the recent times (Alon, Ni and Wang, 2012). The mission statement of Dairy Queen is to provide their consumers with best service and products and to be one of the most successful organizations in the entire universe. Furthermore, their mission statement also suggests that they will strive to create positive memories for all their consumers who will be associated with them. On the other hand, the mission statement of the company also motivates the employees so that they help the company to grow more in the marketplace. The value statement of the company conveys the following- Firstly, the company strongly believes in trust, integrity, and honesty are key elements for being successful. Secondly, Dairy Queen also believes that providing innovative and excellent services to their customers are also one of the main elements of being successful (Babnik and et. al, 2014). Thirdly, they are also committed the worldwide profitability and growth that can create a positive impact on their stakeholders. Fourthly, they also believe a huge amount of CSR activities as they think something fruitful should be given back to the community in which they are operating. Fifthly, the company also considers embracing the change which holds an important part of their value statement. Lastly, Dairy Queen believes in teamwork by sharing their knowledge, resources, and ideas. It can be concluded that the company will be successful in India if they maintain the same mission and value statement for the employees here.
The vision statement of the company
The vision and mission statement is so strong that is one of the reasons the company is so successful from the past 60 years. The vision statement of the company is to provide innovative and mouth-watering foods to their consumers in a short period of time (Banalieva and Dhanaraj, 2013). The company understands that people want delicious foods within a short period of time as Dairy Queen prioritize the needs of their consumers on the topmost list.
Stakeholder Strategy
It is always believed that the stakeholders hold an important place in an organization. Same goes for Diary Queen also and they have two types of stakeholders namely primary and secondary. Primary stakeholders of the company include the owners, consumers and the managers who are directly responsible for the success or failure of the company. A stakeholder’s strategy will help Diary Queen to involve each of their potential stakeholders in the important phases of the project. Firstly, the firm must try the approaches which are needed to involve the stakeholder’s in the important decision. Secondly, the strategy should meet the expectations of the stakeholder’s to a great extent. Lastly, the company should try to save their important stakeholders from any type of negativity.
Communications management plan
From the project manager’s point of view a communications management plan with the stakeholders of the company must contain the following points. Firstly, the project manager of Dairy Queen will take the initiative to communicate with every stakeholder for determining their method of communication. The feedback which is received will be recorded in the project’s Stakeholder Register by the project manager of Dairy Queen. Secondly, the communications with the stakeholder’s will be followed according to the communication matrix. Lastly, the stakeholder’s communications management plan should identify the various channels of the project communication and also make sure that each and every stakeholder has access to these channels.
Scope statement
A scope statement is one of the essential tools that will help the company to outline the deliverables of the project and identify the main success factors, constraints and assumptions. Furthermore, boundaries of a project are also highlighted by the scope statement. The following are the elements that should be included in scope statement of Dairy Queen by the project managers. Firstly, a clear justification for the project of the company should be given and the characteristics of their food items. Secondly, acceptance criteria must be set on the basis of which the deliverables will be accepted. Thirdly, the products that will be produced by the end of project by the company. Fourthly, a rough estimation on what the project cannot accomplish. Fifthly, barriers for the project and the ways company can overcome them and achieve it. Lastly, there should be also necessary statements by the project manager which will state the methods by which Dairy Queen will address the future contingencies.
Work breakdown structure
The work breakdown structure is one of the main project deliverable that divides the team work of a company into the sections which are manageable. The following elements will be included in the work breakdown structure of the project by the project manager: The Planning will include- resource allocation, budget preparation, blueprint preparation, resource scheduling. Marketing will include- marketing plan, marketing needs, specification of the needs. Operations of Dairy Queen will contain- registration of Dairy Queen in India, logistics, operation plan, opening of their food company in India. The food will include- design of the product, material requirement and process design. The facilities will include- designer interior set-up, electric installation. Lastly, the systems will contain the ordering systems, billing systems, and emergency systems.
Risk register
The risk register is an important component of the risk management. It will be one of the main responsibilities of the project manager with regards to Dairy Queen to maintain and update the risk register on a daily basis. The following will be included in the risk register of Dairy Queen: Performing quantitative risk analysis, performing qualitative risk analysis, controlling and monitoring risks, and planning on how to response towards a risk.
Cost management plan
The cost management plan for Dairy Queen will explain how the costs of their project will be managed throughout the whole lifecycle of the project. The cost management plan for Dairy Queen will contain the following elements: The threshold limits that will accept the cost variance during the measurement of cost performance, the reporting format for the cost performance, rules with regards to the cost performance measurement, the description of the process, the level at which the estimation of the costs can be rounded down or up, and the company’s procedure links.
Milestones list
The milestone list is the elements that will be included here with regards to the ongoing project of the company that is expansion. The milestone list of Dairy Queen will contain: Initial capital contributions, the time taken for entire gathering requirements, designing the interior, reviewing the business plan for expansion, advertising, production and completion of food menus, complete implementation and the estimated date of project end.
Project scheduling
The project scheduling for this company will contain resource loaded activities and work breakdown structure in it. The project scheduling of the WBS will include: Surveys, focus groups, research analysis, and findings of the market research, design of the food items, planning for the production, marketing and project management.
Procurement management plan
Procurement management plan will be one of the strongest elements for the company during the time of their expansion. It will effectively manage their money and Dairy Queen will not lose it unnecessarily. The following will be the ingredients in the procurement management plan for the company: Different types of contract that will be used, the items that will procured will be highlighted with timelines and justification statements, the possible risks that is associated with the procurement management, how to tackle a lot of suppliers, identifying the costs and the way they are used in the evaluation criteria, the process of contract approval, barriers pertaining to procurement, establishment of the deadlines and contract deliverables, vendor management, performance metrics with regards to the procurement activities.
Human resource management plan
It is one of the most important segments of the project. On the other hand, one of the main components of all the projects is the human resources on the project. The following are the elements of the human resource management plan for Dairy Queen: creating and identifying project management chart, matching project needs and skills- training schedule and needs. Project team- motivating strategies, other strategies, and ensuring recognition for employee and External issues-safety requirements for everyone and addressing compliance needs properly.
Long-term objectives
The long-term objectives of the company are to maintain the highest position in the marketplace. In United State, the company has different types of long-term objectives. For expanding in India Diary Queen must consider the following set of long-term objectives. Firstly, expenses should be addressed in a serious manner by the manager of the company as expansion in another country (Buckley and Casson, 2016). One of the main aims as a part of their long-term objectives should be eliminating the food waste (Chang and Rhee, 2011). Secondly, Dairy Queen should not only maintain the good quality of food in India but they should also provide high-quality of customer service. Like for instance, no consumer should be kept waiting for more than 10 minutes. If a consumer waits for more than the estimated time then Dairy Queen must serve them one free ice cream like this way they can also retain the consumers in India as it has been noticed people in India love complimentary items free of cost more than anything (Chan, Finnegan and Sternquist, 2011). Thirdly, marketing is also considered to be one of the vital elements that need to be addressed by them in a good manner have a grip in the marketplace with regards to India.
The components of growth
There is a lot of scope for the company in terms of growth in the new marketplace that is India. Firstly, the company has the most hardworking people who operate and own their various restaurants across the globe (Chiang and Chathoth, 2013). Hence, the company is quite sure that they will be successful in operating in India. Moreover, the company also takes care of the kids in terms of foods. India is a country where children accompany elders almost everywhere. In this segment also Dairy Queen claims to grow more than their potential competitors in India. Secondly, their can-do culture with regards to the innovation and success. Thirdly, their plan is realistic in nature suggesting the targets are quite achievable (Cuervo?Cazurra, 2012). Fourthly, it has been witnessed from a long period of time that the management team of the company is quite enthusiastic as they have different complementary skills with that opens a clear door for the expansion. Lastly, the leadership ability of Dairy Queen is also quite strong and they manage to communicate it in an effective manner.
Various loans for financing the company for expansion
Even the big companies like Dairy Queen Need a loan for expansion in India. Hence, there are various types of loans available in the marketplace from the most suitable loan can be considered by the company. The different types of loans are as follows: Firstly, the demand loan is a short-term loan which has no floating rate and fixed payments (Foley and Kerr, 2013). Arguably, it is totally different from other loans as it allows the borrower paying it off quite early without levying any type of penalty charges on them. Secondly, there is also a loan for the inventory financing. In this type of loan, the borrower has to pledge their inventory as a form of security to the lender. However, the loan is limited at the rate of 50% with regards to the value of inventory. Lastly, there is term loan which can be considered by the company when they are expanding as it is the medium-term or the long-term financing for supplying cash to purchase the fixed assets such as, buildings, or land, machinery or to modify and renovate the premises of the business.
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Place Your OrderCSR activities that need to be done in India
It has been already noticed that Dairy Queen in Canada has contributed to one of the international non-profit organization almost $2.5 million in the year 2013 for the disabled and sick children. In India also Dairy Queen may consider some of the following CSR activities. They are already famous but they for coming into the limelight in India they need to conduct some of the CSR activities (Aggarwal and et. al, 2011). In the recent times, CSR activities also have high relevance for the food companies as this industry has a lot of impact and high dependence with regards to the economy, the society and also environment. Firstly, when the company has an excess amount of food items sometimes they may consider feeding the poor children as there are more than 40% of children who starve on a daily basis in India. Secondly, they may only consider using the banana leaves when they are serving the burgers as it will be an eco-friendly gesture by them.
Analysis of external and internal environment of the firm
For analyzing the internal and the external environment of the company SWOT analysis and PESTLE analysis will be performed. The SWOT analysis will help the company to understand the main issues after identifying them that can have a direct effect on their business. Arguably, it will not give Dairy Queen the ultimate solution. On the other hand, business goals can be developed after conducting the SWOT analysis. The PESTLE analysis will help the company to exploit the opportunities and they can also understand the elements that can affect the business indirectly or directly. The SWOT analysis for Dairy Queen is as follows. The strength of the company includes: A very strong brand name, and popularity among the adults as well as the children, the reputation of the brand is also quite high for their unique, extensive product line and delicious products, interestingly the company is also present in more than 20 countries, and most importantly the company is supported by one of the strongest companies which are their parent company that in return ensures stability in financial segment (Forsgren, 2017). The weakness of the company is: They are present in the United States still they have a very weak global presence especially in the economies that are emerging, the market share of the company is also quite weak when it is compared with their potential competitors. The opportunities for the company are: The Company has proven themselves as one of the most innovative firms in terms of providing service and product to their consumers, they have also high opportunities when they will expand in the emerging markets that are why they have considered expanding in India, they have also a lot of opportunities related to the home delivery and online delivery options, then they have opportunities in the changing consumer lifestyle. The possible threats to the company are as follows: The gradual increase in costs with regards to their operations can badly affect company's profit to a large extent, the economic fluctuation can also be considered as one of the strongest threats for the company as it results in lower consumer spends and also the exchange rate fluctuates. Lastly, their cost of the food items with regards to their competitors is also quite low, and their products can be easily substituted by their competitors.
TO BE CONTINUED...
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