The Case in this course is an ongoing exercise, meaning that we will be taking an intensive look at one company over the course of our five modules. This session, we will be conducting a strategic analysis of the Kraft Foods Group. The best preparation for doing well on the Case Assignments is to complete the Background information readings and the SLP before writing the Case.
Most companies have something that resembles a vision, mission, or set of values; or stated goals/objectives that define who the company is and how the company plans to do business. However, organizations may not always label these statements properly—calling a vision a mission, or calling their values a set of beliefs. Sometimes they do not have a mission at all, operating instead on a set of goals.
Hammonds, K. (2007). Michael Porter's Big ideas, Fast Company, 44, Retrieved on November 6, 2012, from: http://www.fastcompany.com/magazine/44/porter.html
In this assignment, you will be critically evaluating the vision, values, mission statement, and goals/objectives of the Kraft Foods Group.
Keys to the Assignment
After studying the background materials and completing the SLP, you are in an excellent position to evaluate a company's published mission, vision, values, and objectives/goals. This Case asks you to begin your strategic analysis of the Kraft Foods Group by evaluating the company's mission, vision, values, and goals. To do this, observe the following procedure:
-Step 1: Visit the official website of the Kraft Foods Group, and identify the company's vision, mission, values, and goals. (Hint: You'll need to do some exploring and a certain amount of speculation—as the terms "vision" and "mission" (and sometimes even the term "company goals") are used interchangeably. Explore the "About Us," and "Investor Center" links. Also, look closely at the most recent Annual Reports.
-Step 2: Critically evaluate the mission, vision, values, and goals (again, you'll likely need to make decisions as to which is which). Use the criteria in the background materials as well as the readings related to the SLP to support your assessment of the quality of the company's mission, vision, and values.
-Step 3: Determine which (if any) of the elements consider the goals and needs of specific stakeholder groups. Write down any examples.
-Step 4: Consider what changes are needed to improve the vision statement, the mission statement, the statement of company values, and the company's objectives and goals.
-Step 5: Write a 5- to 7-page paper addressing the above requirements. While you must meet minimum length requirements, you must also address the above requirements with precision and with appropriate breadth and depth.
In compliance with BrainMass rules this is not a hand in ready paper but only background help.
-Company's Mission Statement and Analysis
The mission statement of Kraft Foods Group is:
"Kraft Foods Group is one of the largest food and beverage companies in North America with annual revenues of more than $18 billion. With the spirit of a startup and the soul of a powerhouse, we are on a mission to be the best food and Beverage Company in North America. We have a deep portfolio of beloved food & beverage brands in the beverage, cheese, refrigerated meals and grocery categories. Our products can be found in the pantries and refrigerators of virtually every household in the United States and Canada.
We expect to be well-positioned over the long term to deliver steady, reliable growth with a strong focus on cash flow to fund a highly competitive dividend and reinvestment in our people, innovation and brand-building". http://ir.kraftfoodsgroup.com/overview.cfm
The analysis of the mission statement of Kraft is that it says that it is in the food and beverages market. It says that it has a portfolio of foods & beverage brands in beverage, cheese, refrigerate meals, and grocery categories. The mission statement clearly gives the products of the company. The mission statement however does not mention the target customers of the company. The mission statement says that the products of the company can be found in the pantries and refrigerators of every household in the US and Canada. This is a broad statement and avoids specifying the target market of Kraft products. The "mission statement" also says that it will deliver steady, reliable growth with strong focus on cash flow to fund a highly competitive dividend and reinvestment in our people, innovation, and brand building. This portion of the mission statement is targeted at the shareholders assuring them of long term steady growth. A good mission statement should not have explicit reassurances to shareholders. A good mission statement should specify how it will provide value to its customers and how it will differentiate its products. These important facts are missing from the mission statement of Kraft Foods Group. What Kraft has not mentioned is the manner in which the company will provide value to its customers. Also, Kraft has neglected to mention how it will differentiate its products from those of its competitors. The problem with the mission statement is that it mentions that it wants to be the best food and beverage company but it does not mention that it will provide the best food and beverage to its customers. The determination to excel is missing. The Kraft CEO's statement says that the company will offer products customers love. This means Kraft will deliver products that its customers adore. The mission statement of Kraft Foods Group is weak and may not provide the required guidance to the company.
-Company's Vision and Analysis
The vision of Kraft Foods Group is found under the heading Our Mission and is written by Kraft CEO Tony Vernon. The vision of Kraft Foods Group is "Our aim is to be North America's best food and beverage company, and we'll get ...
The answer to this problem explains the mission and vision of Kraft and how these can be improved . The references related to the answer are also included. Almost 2000 words.