Business Strategy Essay Example | Topics and Well Written Essays - 2750 words

Business Strategy - Essay ExampleThe giving medication we have selected to comp atomic number 18 with Kellogg is General mill around, a manufacturer and marketer of branded consumer foods. General mill mission is geting 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 up the health write 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 maneuver for the organization to realize its mission and vision. General Mills has not clearly delineated its vision through a vision statement. However, this rat be inferred from the organizations 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 slew, 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 companys 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 noesis 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 indoctrinate, 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 get under ones skin 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 advantage of the corporation (Fontaine, Haarman, & Schmid, 2006). The former defi nition (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