Business Description of General Mills
Headquartered in Minneapolis, MN, General Mills is one of the world's largest consumer food companies boasting net sales of $17.8 billion in fiscal year 2013. General Mills is a leading global manufacturer and marketer of branded consumer foods sold through retail stores, as well as a supplier of branded and unbranded food products to the food service and commercial baking industries. Substantial quantities of carton board, corrugated, plastic and metal packaging materials, operating supplies, and energy are used by General Mills every year. The organization’s mission is to Nourish Lives, Nourish Communities, and Nourish the Future. General Mills “nourishes lives” by making lives healthier, easier and richer. The business “nourishes communities” through community programs such as “Box Tops” and volunteering. Lastly, General Mills “nourishes the future” with a commitment to environmental sustainability. They categorize their product sales into three core business segments – (1) U.S. Retail, (2) International, and (3) Convenience Stores & Food service. The U.S. Retail segment represents the lion’s share of General Mills’ net sales with $10.6 billion in fiscal year 2013. The consumer foods industry is a highly competitive market with a number of large and small manufacturers. General Mills competes against other widely advertised, branded products and generic, privately labeled food products. General Mills’ principal strategies for competing include: customer relationship building, superior products, innovative advertising and promotions, efficient supply chain operations, price and product innovation.
General Mills markets products in more that than 100 countries around the world, with offices or manufacturing facilities in more than 30 countries. Exhibit 1 is a detailed look at the countries where General Mills conducts business. About half of General Mills’ employees work outside the...
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