It’s a Powerful Combination Certainly…
Papa John’s is making a comeback from low fiscal results by utilizing two strategies. One strategy shows empathy towards employees while the other strategy shows empathy towards the customer experience. Common sense should dictate that these are two powerful areas to improve when wanting to make a full swing comeback. This could be said of any company within the service industry easily.
Steve Ritchie alters the Employee Experience…
Steve Ritchie Papa John’s wants to hear the employees’ voices. This is so true that the recent campaign for employee reach out is even called voices. The program allows the company’s most important feedback givers to reach out and share their current employment experience in an effort to better suite their needs. It’s not a new trend in the service industry, that’s for sure. It is an important trend for a company making a fiscal comeback though. The idea is simple enough; happy employees will serve the institute better than unhappy ones will.
The Boardroom has Received a lot of Change too!
The creation of new boardroom roles was imperative for these comeback purposes. A vice president was placed everywhere where one is required. Technology, menu strategy, customer experience, and branding are all covered by new vice presidents. The creation of very specific roles was important for these new company strategies. New roles were created, and some roles were swapped out. A lot of, much needed, boardroom attention was given.
They could very well Get Acquired!
According to people.equilar.com, after the new leadership asked for acquisitions, four parties stepped up and showed interest. What we know about all of them is that they are industry specific acquisition/investment firms with a penchant for dough and red sauce. If the strategies combined here are continued to be utilized by the acquisition entity, we could see a full fiscal comeback for one of America’s favorite all time pizza eateries. Only time will tell, however.
Steve is on the Right Track…
Steve Ritchie (@stevemritchie) is certainly on the right track. While certain balance sheet ratios have fell, they are picking right back up. It’s only a matter of time before they stabilize back to normal.
From this reference: https://en.wikipedia.org/wiki/Papa_John’s_Pizza