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Innovative Thinking in a Business Measurement and Reward System for Kudler Fine Foods

Essay by   •  December 11, 2013  •  Case Study  •  410 Words (2 Pages)  •  2,028 Views

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Innovative Thinking in a Business Measurement and Reward System for Kudler Fine Foods

Kudler Fine Foods is an upscale specialty food store which operates in three locations in the State of California primarily in the Sa Diego metropolitan region. All of its stores are approximately 6,000 square feet and carry the fines domestic and imported food products that include but not limited to bakery and pastry products, fresh produce, meat and seafood, condiments and packaged foods, and cheese and specialty dairy products. Kudler Fine Foods primary mission is to make sure that its helpful and knowledgeable staff provide "each customer a delightful and pleasing shopping outing" (University of Phoenix, 2013). Below Team D has developed a business proposal to integrate innovation into the business culture of Kudler Fine Foods (University of Phoenix, 2013).

How Success is Measured

How the System Affects the Hiring Process

The hiring process of the organization will be affected dependent upon the area in which the innovative process takes place. Once the organization has had the opportunity to assess the areas of need; for instance the number of additional employees needed, computer advanced individuals needed, full time or part time positions and whether it will be seasonal the organization may then begin addressing the hiring needs. Once the hiring needs are identified the organization will then need to advertise for and begin interviewing for the required positions. Organizations may choose to utilize rewards in order to make the job positions more appealing to the potential candidates.

Employee Rewards for Innovative Thinking

Kudler Fine Foods will offer any employee who brings to management any plausible innovative idea a $25 Visa Gift Card, A plausible innovative idea would be characterized as introducing a new product to offer to customers, a new way of promoting the sale of existing products, or even a new procedure to make the running of its stores go more smoothly. If the innovative idea is implemented and becomes a success increasing profits for Kudler Fine Foods; the employee that brought the innovative idea to the attention of management will receive a 5% bonus of the first year's profits Kudler Fine Foods makes from the implementation of the innovative idea. These reward systems will likely encourage other Kudler Fine Foods employees to put on their thinking caps and come up with other innovative ideas for the company to try and implement.

How the System Might Affect Financial Management, Investor Relations, and Market Perception Among Shareholders





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