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Kellogg Company - Coursework Example

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[KELLOGG COMPANY] By Insert Your Name Presented to Course Institution Name, Location Date Due Introduction Firms that are involved in single line of business or multiple lines of business often develop their own missions, objectives and strategies in order to meet the needs of their consumers, increase profitability and expand their market share (Lussier, 2011:143)…
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Kellogg Company
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Download file to see previous pages This paper examines business strategy of Kellogg’s Company by taking into account its strategic plan, an evaluation of its strengths, weaknesses, opportunities, and threats and the comparison of the company with other companies in terms of strategic planning. Overview of Kellogg Company Kellogg Company is currently the leading producer of cereal and convenience foods such as cookies, cereal bars, frozen waffles, meat alternatives, pastries, piecrusts, and ice cream cones. The products of Kellogg are manufactured in more than seventeen (70) countries and marketed in more than one hundred and eighty countries (180) around the world (Kellogg Company, 2010). Strategic Planning Strategic planning refers to the process of developing a mission and long-range objectives and how such objectives will be accomplished. Strategic plans are often developed for five years but they are regularly reviewed and revised annually to achieve the laid down objectives for five years (Simerson, 2011:135). Strategic planning process entails the developing of mission, analyzing the environment, setting objectives, developing strategies, implementing, and controlling the strategies (Lussier, 2011:128). Strategic planning can help companies to identify products that are suited to the needs, objectives, and resources of the firm and in the development of plans for introduction of new products in the market. Despite the positive contribution of strategic planning in organizational planning, it has some problems. One of the problems associated with strategic planning is the emphasis of quantity instead of quality. Most strategic plans stress on the achievement of quantitative results while ignoring or paying less attention to quality (Botten, 2009). The second problem of strategic planning is the failure or neglect in the analysis of internal and external environment. Another problem that is associated with strategic planning is the implementation of the goals and strategies as outlined in the vision, mission, and goals of organization (2008). Although companies often do strategic planning, its successful implementation is an arduous task. Financial implications are another problem associated with strategic planning. The cost needed to implement strategic plans adds more burden to organizations. Failure by companies to allocate sufficient resources towards the implementation of strategic plans can jeopardize the whole process (Simerson, 2011). Tesco Company was also faced with strategic planning problems. Tesco is one of the largest food retailers in the world with United Kingdom as its dominant market. The company developed a strategic plan and it has yielded results for the firm. Strategic planning has brought fortunes to the company by successfully engaging in branding and effective service delivery to customers (Cavusgil, Knight & Riesenberger, 2008). Through effective strategic planning, Tesco has fostered and established brand identity and awareness through consumer experience and brand extension approaches. Strategic planning has enabled Tesco to compete with other companies in food retail sectors and to adapt to various business environments (Needham, 2009). Boston Consulting Group (BCG) Growth –Share Matrix Due to increase in competition and need for market share expansion, companies ...Download file to see next pagesRead More
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