CC case
In March, 2012, Steve Parkland started his new job as president of Charles Chocolates (Charles), a privately held premium chocolate producer based in Portland, Maine. The board of directors had asked him to double or triple the size of the company within 10 years. Each member of the board and the management team had a different idea about what Charles needed to do. Parkland needed to devise a strategy that would fit the company’s culture, and then gain the support of the board, the management team and the employees. THE PREMIUM CHOCOLATE MARKET The U.S. market for chocolates was US$19.3 billion1 in 2011, and had been growing at about 6 per cent annually. The premium chocolate market ($2.7 billion), which had higher margins, was growing at 10 per cent annually, and imports of ethically produced cocoa grew by 156 per cent2 as aging baby boomers emphasized quality and ethics in their purchases. Incumbents such as Hershey’s and Cadburys had moved into the premium ch...