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Mission, Vision, and Value Paper - Essay Example

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The company was founded by the legendry Milton Hershey who was known for his life-affirming spirit and dedication to improve lives. Hersheys continues to do business with…
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Mission, Vision, and Value Paper
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Hershey’s Chocolates Hershey’s is one of the largest producers of quality chocolate and sugar confectionary in North Americas. The company was founded by the legendry Milton Hershey who was known for his life-affirming spirit and dedication to improve lives. Hersheys continues to do business with that legacy of commitment of his founder. The company operates throughout the world having more than 12,000 employees on its payroll. The companys revenue exceeds $5 billion and it owns some of the well known brands such as KIT KAT, Reeses, Hersheys, Twizzlers. The company occupies a leadership position in the dark and premium chocolate segment with popular brands such as Hersheys Extra Dark and Hersheys Special Dark. The company is a leading player in the gum and mint category too (Hershey’s Company Profile, 2009).
Mission, Vision and Value Statements
Continuing with the legacy of Milton Hershey, the company is committed to consumers, communities and children by providing high-quality products while conducting business in environmentally sustainable manner.
At workplace, the company maintains safety and wellness for the employees fostering openness and inclusiveness making it a desirable place to work. Hersheys believes in sharing knowledge so as to grow together by not only creating an environment of mutual respect but also unleashing human potential at the workplace.
In marketplace, the company is committed to consumer well-being as well as fair and ethical business dealings. The company always strives for and creates a positive impact at the local community level where it operates (Listen, learn and act, 2011).
Ever since Milton Hershey laid the foundation of the company, the mission, vision and value statements have worked as a guiding spirit for the growth and development of the company earning goodwill among its customers and local communities. The company is ‘open to possibilities’ in all its endeavors, always ready to embrace diversity seeking new approaches. The aim is to achieve continuous improvement in what they do. There is no doubt that the clarity of vision and values has helped the company reach to its present state.
Global Operations – A New Growth Strategy
In 2011, the company had 15.6% of its sales coming from outside the U.S. and as part of global expansion strategy the company is increasing its investments outside the U.S in the countries such as Brazil, Mexico, India and China.
Environmental Scanning – A Strategic Management Process
In view of the new growth strategy, the company needs to perform environmental scanning to assess external factors that might affect the Hershey’s in the long run (Sadler, 2003 p181). Numerous risks are associated with international operations and marketing of products such as regulatory framework that are in force in each countries and its likely effect on the company; political activities such as civil unrest, mass violence or terrorism activities; the impact of currency exchange rate variations between dollar and foreign currencies where the company is in operation; unexpected economic changes such as inflation, supply constraints or reduced demand of the product.
Outcome of the Global Growth Strategy
The Hersheys is committed to ethical business dealings keeping corporate social responsibility at the center stage. Moreover, the company believes in inclusive growth nurturing and improving the lives of local communities wherever they operate. This basic culture of the company would always create a positive impact in the country of operations regardless of different local cultural values.
Effect on Stakeholders
The stakeholders of the company have been greatly benefitted so far along with the growth of the company. Hersheys operations in other countries would bring even more rapid growth in the coming years rewarding the stakeholders manifold.
References
Hershey’s Company Profile (2009). The Hershey Company. Retrieved July 2, 2012 from
http://www.thehersheycompany.com/investors/company-profile.aspx
Listen, learn and act (2011). The Hershey Company. Retrieved July 2, 2012 from
http://www.thehersheycompany.com/assets/pdfs/hersheycompany/Hershey_2011_CSR_
Report_Executive_Summary.pdf
Sadler, Philip (2003). Strategic Management, 2nd ed., Kogan Page. London. Read More
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