HelloFresh core mission and business model are inseparable and always centered around “Changing the way people eat. Forever”. As we progress into our new venture, we want to make sure that our mission is not lost. As we move forward in the coming year’s communication and transparency will be of the utmost importance as changes are going to take place. At times when changes occur, communication can become muddy and create an atmosphere of non-inclusion. Here at HelloFresh, we want to deter that from happening. In doing so, we have created what we call, HelloFresh Future Committee.
The HelloFresh Future Committee is armed with the task of maintaining a formal sustainability structure into all elements of our business. The committee helps prioritize the interest of our colleagues and customers through sustainability reporting. The report allows HelloFresh an opportunity to inform our employees and management what is transpiring within the company and how it affects them. Along with reporting will be scheduled monthly meetings for employees and management to answer questions, express concerns and provide ideas they may have.
The committee will also be used to assist with the integration of Green Chef and HelloFresh, making sure those from Green Chef are introduced to everything from the HelloFresh vision. In addition to making sure we are receptive to their ideas and willing to create an inclusive environment for both companies allowing them to feel involved and empowered about their contributions.
In our effort to expand our product line to be inclusive to those with food allergies and intolerances, it will be essential, to be honest, and diligent with our efforts to gain buy-in. The need for more food options that include those with food allergies and intolerances are there. Acquiring Green Chef provides us an excellent opportunity to enter that arena as they have experience servicing those with food intolerances. Their knowledge and HelloFresh resources creates a support system for success. At HelloFresh, we understand when attempting to gain buy-in, relationships are as important as ideas.
As JC Penney moves to acquire Stitch Fix, my biggest concern is finding and dealing with detractors. If I cannot instill the dire sense of urgency in everyone at JCP, resistors and detractors will be quickly and publicly removed from the organization. The speed required to make drastic strategic changes will not allow for any resistors to impede the process.
I will utilize John Kotter’s Eight-Stage Process to implement the integration of our two companies.
- Establish a Sense of Urgency by showcasing the terrible market position we are currently in.
- Comparable store sales up mere .3%
- Steady decrease in overall revenue for 5+ years
- JCP currently the lowest valued of all legacy brick and mortar department stores…I will show a chart of current stock prices for several competitors, show us as the lowest.
- Create a Guiding Coalition by showing online sales are highest growth area at 20%
- Recruit IT/Marketing/Merchandising/Operations SVP’s to lead the path forward
- Must be fully formed prior to acquisition
- Develop a Vision and Strategy by incorporating young and innovative ideas from SF into the JCP business. Create a development plan for all executives to move between SF and JC Penney.
- All SF & JCP executives are part of strategy creating. Joint efforts and teamwork are the name of the game here.
- Should be finalized no more than two months after acquisition
- Communicate the Change Vision by ensuring all employees must understand that online sales are the path to JCP’s future success, a SF merger is the best way forward as we are not capable of emulating their model on our own. This begins on the day the deal closes and continues until the combined culture is fully adopted.
- Empower Employees for Broad-Based Action by bringing SF employees in the JCP corporate structure allowing them the opportunity to lead in a larger organization. JCP incumbents must recognize and adopt new innovative ideas, methodologies, and technologies.
- Generate Short-Term Wins by allowing employees at all levels to influence operations and integration. Continuous Process Improvement is key here, especially within the first year.
- Consolidate Gains and Produce More Change by rewarding employees from both companies as they adopt the changing business and lead the combined companies into the future.
- Anchor New Approaches in the Culture by promoting or moving SF executives within the greater JCP organization. Front line managers will also receive bonuses for improved integration of omnichannel distribution with the SF model.