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Environmental Analysis Paper - Essay Example

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Environmental Analysis Paper Date Environmental Analysis Paper Introduction They Hershey Company is the largest North American manufacturer of quality sugar and chocolate confectionary products, headquartered in Hershey, Pennsylvania in the United States…
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Download file to see previous pages The Hershey Company markets brands such as Hershey’s Kisses, Ice Breakers, and Hershey’s Reese among others. Also, it is the leader of the dark and premium chocolates such as Hershey’s Extra Dark, Cacao Reserve, and Hershey’s Special Dark. Other popular brands such as Milk Duds, Payday, Kit Kat, and Almond Joy have tremendously contributed to the success of the company to achieve revenues of about six billion dollars (The Hershey’s Company, 2012). Like other businesses in the world, the Hershey Company operates with business environment that is pre-disposed with business environmental factors such as legal-political, socio-cultural, economic, and technological factors. This paper will seek to conduct an environmental scan and economic analysis on Hershey’s, including the remote, industry, and operating environments. Macroeconomic Forecast Macroeconomic forecast helps provide the consumers, businesses, and government with information necessary in making better decisions (Kew and Stredwick, 2009). The macroeconomic forecast indicators affect Hershey’s in the future and are important that they are considered to be part of the strategic planning of the Company. Increasing GDP in America (though at a smaller rate) and in other countries where its products are sold is favorable in boosting the purchase of the products and increases the prospects of the Hersey’s success (McGuigan, et al., 2011). In the light of this, the strategic planning of Hershey’s will include considering increasing its supplies especially after global financial crisis has completely faded away. Also, reducing rate of unemployment widens the pool of people earning income and therefore increasing the number of people able to buy Hershey’s products (Brenner, 2010). However, unemployment rates in some countries have remained constant or have soared therefore threatening to reduce sales of Hershey’s products in those countries. Thus, Hershey’s strategic planning will moderate supply in various markets based on the prevailing unemployment rates (McMahon., 2008). In addition, inflation as a macroeconomic factor affects the Hershey’s products presently and in the future. Increase in prices of commodities in various markets that Hershey’s sells its products; tend to affect the performance of the Company (McGuigan et al, 2011). The increase in the cost of production of other consumable commodities including sugar and chocolate confectionary products make the consumers to be cautious in their purchasing, as well as prompting them to focus more on basic commodities than on commodities that they consider to be “luxurious” (Brenner, 2010). The seemingly high inflation rates in most markets call for a strategy that meets all the market niches. For example, Hersey’s products can be packaged in quantities and prices that reflect the inflation rates of particular markets. Demand and disposable income is another macroeconomic factor that affects the success of a company like Hershey’s (Morden, 2007). Reduced demand and disposable income of consumers may affect the sales of Hershey’s products in America and in countries where the Company’s products are sold (McGuigan et al, 2011). Therefore, Hersey’s strategy should seek to enhance consumers’ demand and to package quantity and prices that reflect the disposable income of the targeted markets. Non- Economic Factors in the Remote Environment Social and Cultural Social and cultural ...Download file to see next pagesRead More
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