Step 1: Identify the firm’s existing vision, mission, objectives and strategies.
Kraft Foods Vision Statement
• “Helping People Around the World Eat and Live Better." • “Make Today Delicious”
The following core values guide Kraft Foods actions as they strive to achieve the mission and vision : -We inspire trust
-We act like owners
-We keep it simple
-We are open and inclusive
-We tell it like it is
-We lead from the head and the heart
-We discuss. We decide. We deliver
Step 2: Develop vision and mission statements for the organization.
Kraft Foods Vision Statement
We have provided below the content of the Kraft Foods Vision Statement which details their vision of the future. An effective and successful Vision Statement is powerful and compelling, conveying confidence and inspiring views of the future. The importance of the Kraft Foods Vision Statement should not be underestimated. As a highly successful company in the Food industry Kraft Foods specialize in food processing producing beverage, cheese and dairy, snack foods, confectionery, convenience foods and cereals with well known brands such as Vegemite, Terry's chocolates, Ritz, Pretzels, Philadelphia cream cheese, Maxwell House, Capri Sun and A1 Steak Sauce. The Kraft Foods Vision Statement describes the values, services and the company's vision for the future. “Our mission is to become the favorite family dining restaurant in every neighborhood in which we operate. This will be accomplished by serving a variety of delicious tasting and generously portioned foods at moderate prices. Our restaurants will be clean, fun, and casual. Our guests will be served by friendly, knowledgeable people that are dedicated to providing excellent customer service.”
“Our vision is our restaurant is a place where people come to relax, have a good time, and enjoy a great meal. From the moment our customers walk in the door, they are greeted by a warm atmosphere, subtle music, and friendly and courteous staff.”
Step 3: Identify the organization’s external opportunities and threats.
1- Trend of people dining out are increasing, this lead the food producers to give more attention to products design for restaurants, vending machines and foodservice provider. Kraft Food Inc. get an added advantage because they can produce a lot more food that meant to be eaten away from home and at higher margins.
2-Input cost for bakers have been declined recently. Some bakeries may be passing along the cost of supplies purchased on contracts signed before commodity prices began to fall in mid-2008 (Hedging with futures concept). For the time being, food manufacturing company realize that they have slight advantage for a short time.
3-Busy lifestyle trend lead people to the needs of fast, easy, less time preparation of food and this open large market for Kraft Foods Inc. and also their competitor. The U.S market for package and process foods has been large profit in retails sales. Worldwide demand also on the rise for this type of food.
4-The greatest asset of any retail and consumer product company is its reputation and perceived value among consumers. For this reason, corporate and brand reputations are expected to be very important as consumers are trying to stretch their dollar further and competition is increasing.
5- Customers nowadays view food as an expression of their cultural and social identity, they expect more than just a quality from the producers. Environmental concern, social responsibility and economic viability are commonly identified as three pillars of sustainability.
6-As the US dollar’s gain strength overseas, this will make Kraft Foods Inc. product more profitable and higher profit will automatically give a good result in balance sheet.
1-Rising costs of petroleum cause a twofold increase in cost for companies in the food industry. Raw materials costs for food processor, production costs, and...
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