StudentShare solutions
Triangle menu

Business Strategy - Essay Example

Not dowloaded yet

Extract of sample
Business Strategy

The organization we have selected to compare with Kellogg is General Mills, a manufacturer and marketer of branded consumer foods. General Mills’ mission is nourishing lives. General Mills seeks to attain this mission through making lives healthier, easier and richer (General Mills, 2010). The organization makes lives healthier by continuously improving the health profile of its products. It makes lives easier with foods that are simple to prepare and it makes lives richer by making foods for special moments such as birthdays. Goals and objectives help an organization in controlling its plans and providing its staff with the direction to take for the organization to realize its mission and vision. General Mills has not clearly delineated its vision through a vision statement. However, this can be inferred from the organization’s mission and values statement. Likewise, we can use the values statement to point out General Mills’ goals. From the values statement General Mills aims to assert its values everyday through its people, its brands, its innovation and its performance. These goals are: to ensure that its brands continue to win consumers trust around the world; to nurture diverse, talented, committed people who contribute to their communities; to continue developing and implementing innovative ideas that further build the company’s brands and business; and to continue delivering outstanding performance for its investors. According to Kotelnikov (2011) core competencies are the things that a company does better than its competitors in the critical, central areas of the organization where the most value is added to its products and/or services. For General Mills, its core competencies are in its intimate consumer knowledge and its innovation. These two competencies manifest themselves in in the mix of new products and improvements to existing products that General Mills is renowned. The company extends its legacy of learning about products, processes and unique disciplines; improving production efficiencies, elevate quality and reducing costs; and preserving precious institutional memory through its multiple schools such as Cereal School, Yogurt School and Packing School. 1.2 Explain the significance of stakeholder analysis, (especially for the selected organization) (P2) The topic of stakeholders is very popular and contested among theorists. There is quite an amount of contesting literature around which theorists try to update and replace. Freeman, the “father” of stakeholder theory has also given different definitions of whom or what constitutes a stakeholder. In 1984 Freeman defined stakeholders as “any group or individual who can affect or is affected by the achievement of the organization objectives” while in 2004, Freeman defined stakeholders as “those groups who are vital to the survival and success of the corporation” (Fontaine, Haarman, & Schmid, 2006). The former definition (Freeman 1984) is preferred in academic circles because it is entirely organization orientated. This is the one we shall use in this discussion. General Mills’ mission is to nourish lives. Nourishing lives refers to nutrition, which as the cliche goes, “you are what you eat”, is the crux of human health. Furthermore, General Mills is also a Fortune 500 company, among the largest food companies in the world, with a presence in more than 100 countries on six continents. This inter-continental presence implies that General Mil ...Show more

Summary

1.1 Define the contexts of business strategy – such as - (missions, visions, objectives, goals, core competencies) and also explain the following for the organization selected by you of your own choice (P1). An organization’s mission is its reason for being…
Author : terrillwill
Business Strategy essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Business Strategy"
with a personal 20% discount.
Grab the best paper

Related Essays

Business Strategy
It therefore represents the best attempt that the management can make at de?ning and securing the future of that business” (Oxford University Press, n.d., p.1). Each of the businesses should have their own business strategies to survive the competition and compete over its competitors.
12 pages (3000 words) Essay
Business Strategy
For example, globalization has produced revolutionary changes in the domestic and cross border business activities. The importance of business processing and customer processing has been understood by the organizations more than ever under the current globalized business environment.
8 pages (2000 words) Essay
Business Strategy
A well thought about and precisely considered business strategy gives guidance to a firm’s commercial success, but on the other hand, one that has not be fully understood and weak strategy is likely to result into a company’s demise or fall. (Kourdi, 2009 p3) A business should always have the right resources and the capability to be in the best position to exploit opportunities and to respond to the threats in a business environment.
7 pages (1750 words) Essay
Business Strategy
It is the second largest public university with a dynamic academic community consisting of more than 8000 staffs, 30000 students and more than 300, 000 lakh graduates (“About”). The university has been one of the major players in providing qualitative education in United Kingdom.
14 pages (3500 words) Essay
BUSINESS STRATEGY
The internal and external, the micro and macro-environment of a firm need to be assessed. It is like a SWOT analysis of the environment.
4 pages (1000 words) Essay
Business strategy
Founded in 1996, Entropy International was a pioneer in the field of Environmental and information management. It was the first company to provide a web-based portal for compliance, performance, information and risk management. Its seamless integration
10 pages (2500 words) Essay
Business Strategy
Keeping our business rival close is the strategy that Sharpe considers in doing so we ensure communication with the barley and be sure not to leak our business secrets to our competitors. When communicating with the
2 pages (500 words) Essay
Business Strategy
The strength of the value chain supports the strategy of the company. For example, the market ratio of the company is considerable stronger than the competitors. Examining the total
1 pages (250 words) Essay
Business strategy
In July 2014, Anglo American consented to offer its stake to Lafarge, to help Lafarge in its merger with Holcim and alleviate rivalry concerns. Lafarge declared in February 2015 that the business would be sold out to CRH plc, once Anglo American had sold its
6 pages (1500 words) Essay
Business strategy
The study says that Mulberry aims to operate in two sectors the design business and the retail business (Robinson, Sherwood and DePaolo, 2010). The retail business deals with the sale of
16 pages (4000 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation