Kraft Food Inc

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  • Topic: Singapore, Singapore dollar, Kraft Foods
  • Pages : 6 (1557 words )
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  • Published : May 28, 2008
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Kraft is the largest branded food and beverage company in North America and the second largest in the world. It operates in more than 150 countries worldwide. Kraft Foods markets the world's favorite food and beverage brands in five product sectors namely the snacks, beverages, cheese and dairy, grocery and convenient meals.

Kraft also has 35 major brands with more than 100 years of remarkable achievements in products such as the Oscar Mayer meats, Maxwell House coffee, Jell-O gelatin and Milka chocolate. Kraft constantly strives to continue making historic records with the launch of different new products designed to meet the ever-changing needs of the consumer.

Vision, Mission and Goals

Vision

Kraft’s company vision is to lend a helping hand to the people around them to have a better life and a healthy life-style.

Kraft’s vision is to meet consumers' needs and making food enjoyable and healthier. Kraft strives to deliver the message to their consumers that they value the importance of health and wellness and to provide the best and to deliver the value and quality of their products and services.

Mission

For Kraft to remain successful in the long-run, they have to ensure that they constantly re-strategize their products categories to suit the needs of the consumers. Seize the opportunity to exploit its sales capabilities by coming up with different marketing strategies.

Goals

Kraft’s corporate goals is to ensure that their products are innovative, high-quality which offer optimum satisfaction to consumer, safe to consume, respectful to environmental needs, and the openness and integrity they seek to commit to the consumers.

These are the values for which Kraft’s closely follows to achieve their corporate goals by being truthful to their consumers.

Environmental Analysis of the industry :

Singapore Economic overview

Singapore, a highly-developed and successful free-market economy, which historically revolves around extended entrepot trade and enjoys a remarkably open and corruption-free environment. The economy mainly depends heavily on exports

http://www.sedb.com/edb/sg/en_uk/index/news_room/publications/singapore_investment3/singapore_investment8/covance_s_new_nutritional.html

Financial-Currency

The currency of Singapore is the Singapore Dollar (SGD) represented by the symbol S$. The central bank of Singapore is the Monetary Authority of Singapore, responsible for issuing currency. Singapore established the Board of Commissioners of Currency, Singapore, on April 7, 1967 and issued its first coins and notes. The Singapore dollar was exchangeable at par with the Malaysian Ringgit until 1973. Interchangeability with the Brunei dollar is still maintained. On 27 June 2007, to commemorate 40 years of currency agreement with Brunei, a commemorative S$20 note was launched; the back is identical to the Bruneian $20 note launched concurrently. A circulation version of the $20 note will be able to be exchanged at banks in Singapore. From 1967 until June 1973, the Singapore dollar was tied to the United States dollar, and thereafter the currency was allowed to float.

Source:www.photius.com/countries/singapore/economy/singapore_economy_currency_trade_and~1561.html; http://en.wikipedia.org/wiki/Singapore#Free_Trade_Agreements

Cultural

As Singapore is a small and relatively modern amalgam of Chinese, Malay, Indian and European immigrants, the culture of Singapore expresses the diversity of the population as the various ethnic groups continue to celebrate their own cultures while they intermingle with one another. For example, one can find a Malay wedding taking place beside a Chinese funeral at a void deck, on the ground floor of a HDB apartment block. This can be said to be due to the policies of the HDB which tried to make sure all public housing have a diverse mix of races. However, Singapore has achieved a significant degree of cultural...
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