Kraft Foods has its mission, vision, values, and goals. The company's mission statement is good, but the phrase 'the best company' is not clear. The vision of Kraft Foods is "Helping people around the world eat and live better", which shows that the company cares for its customers by offering products of high quality. It also improves people's life by participating in social responsibility programs. Kraft Foods has many different values. In general, they show that the company takes care of its customers, it is honest to them, and has good leaders. The mission statement represents the interests of shareholders, owners, customers, and employees. The vision of Kraft Foods aligns with the interests of customers and society as a whole. It wants to help people eat and live better. The values of the company represent the interests of its owners, investors, and shareholders because the company guarantees growth. Kraft Foods' values also align with the interests of customers and society because they can receive faithful information about the company. The goals represent the interests of shareholders and owners as the company plans to increase revenues. They also represent the interests of society as a whole because Kraft Foods is going to reduce emissions and take care of the environment.
Company's Mission Statement and Analysis
Kraft Foods' mission statement is:
To be the best food and beverage company in North America, to be well-positioned over the long term to deliver steady, reliable growth with a strong focus on cash flow to fund a highly competitive dividend and reinvestment in our people, innovation and brand-building. ("Our Mission", n.d.)
In my opinion, this mission statement is full and informative. It represents a positive planning for different purposes. The words 'to be the best food and beverage company in North America' constitute a general goal, which is disclosed. However, the phrase 'the best' is not clear completely. Does it mean the most profitable? Does it mean the company that produces products of the best quality, or all at once? As for me, the statement is not very clear. The word 'best' can mean various things. The phrase about steady growth is positive for the mission statement as well. It shows that the company focuses on the steady growth and development. The phrase about investment and innovations is very good for the mission statement. As the company represents itself as the one focused on cash flow, it shows that it wants to maximize revenues and make cash flows more efficient. Moreover, the company takes care not only of the profits but also of its employees and innovation. It also focuses on the brand and its improvement. In general, the mission statement is good. It is also short but informative, showing that the company is focused on improvement and innovations. More to say, the mission statement focuses on the employees as well. The only issue of the mission statement is that term 'the best company' is not clear.
Company's Vision and Analysis
The vision of Kraft Foods is "Helping people around the world eat and live better" ("Better World", n.d.). In general, it is positive. The vision statement shows that the company cares for its customers the most. It also shows that the company takes care not only of the customers. The word 'eat' is aimed at customers because Kraft Foods produces foods and sells it all over the world. Therefore, it shows that the company takes care of the products' quality. The phrase 'live better' shows that Kraft Foods cares for all people in the world, and it is socially responsible. It shows that the company provides some social responsibility programs.
Company's Values and Analysis
Kraft Foods has represented its new list of values in 2009. They are:
- We act like owners.
- We inspire trust.
- We keep it simple.
- We are open and inclusive.
- We lead from the head and the heart.
- We tell it like it is.
- We discuss. We decide. We deliver ("Kraft Foods Reveals New Company Values and Logo", 2009).
In general, the values can be called good. They are written in a simple way, but they have deep sense, and they represent the interests of different parties. The values are focused on trust and openness, which means that Kraft Foods takes care of its customers. It is open and honest. They always tell the truth and do not cover anything.
The values 'We act like owners' and 'We lead from the head and the heart' mean that the company has good leaders. Even if they are not owners, they act like owners and do their best for Kraft Foods. Additionally, 'We lead from the head and the hear' means that the managers and leaders use their talents and experience to run the company, and at the same time, they feel what is needed for the company and its customers.
Alignment of Company's Mission, Vision, Values, and Goals with Stakeholders' Interests
The mission of Kraft Foods Company aligns with the interests of shareholders, owners, customers, and personnel. Shareholders and owners realize their interests because the company wants to develop and grow, and it means the growth of their revenues and dividends. Innovation, brand, and growth represent the interests of customers because they want to try new products regularly, and they like the brand. Investment in people aligns with the interests of employees because they expect career and wages growth as well as ability to study and improve their skills.
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The vision of Kraft Foods 'Helping people around the world eat and live better' aligns with the interests of customers and society as a whole. 'Helping eat better' means that the company wants to produce better foods with better quality and taste. It is beneficial to its customers. The phrase 'Helping live better' means that Kraft Foods is interested in the wellbeing of the communities all over the world. It shows that the company is socially responsible and it pays attention the interests of society as a whole.
Company's values represent the interests of the company, its managers and shareholders, customers, and society as a whole. The company, managers, investors, and shareholders benefit because the company is aimed on growth, it has responsible managers, and it is managed with great efforts and talents. Therefore, the company is likely to increase its revenues. Kraft Foods has the values of truth and openness. They represent the interests of customers and society in general because they can receive clear and faithful information about the company and its products.
Kraft Foods' goals are aligned with the interests of shareholders, owners, and investors. The company plans to continue reasonable growth trend in the nearest future ("Building 'North America's Best Food & Beverage Company'", 2012). Therefore, stakeholders are likely to receive higher revenues and dividends. The goals also align with the interests of society and customers who consider themselves environmentally responsible. The company pays attention to the interests and has many sustainability goals that include cut of energy use, CO2 emissions, making packaging more material-saving, and so on ("Kraft Foods Sustainability Goals & Agriculture Fact Sheet", 2011).
Recommended Changes
In general, I consider mission, vision, values, and goals of Kraft Foods good. They are laconic and they show that the company is managed well, it grows, and it is responsible to the environment at the same time. The only change I would like to recommend is to change the mission statement a bit. The phrase 'the best company' is not completely clear. It is not clear what is meant: the highest profits, or the best products, or something else. Kraft Foods may change its mission statement and remove this phrase. In my opinion, the phrase should be replaced with a more concrete statement. For example, it can be 'to be the most efficient company' or 'to produce foods of the highest quality', etc.
Conclusion
Kraft Foods has good mission, vision, values, and goals. They are stated clearly and they represent the interests of different groups of stakeholders. The company shows that it represents the interests of owners, investors, and shareholders because it plans to increase revenues in the nearest future. In addition, Kraft Foods values its customers and represents their interests because it is aimed at producing foods of high quality. Finally, it considers the interests of society as a whole because it states that it takes care of people and environment. The only improvement recommended is to change phrase 'the best company' in the mission statement because this phrase is not clear.
Assignment Expectations
I consider this assignment interesting. It was useful because it allowed me to analyze the mission, vision, values, and goals of the particular company. I have been able to see how they are constructed, and how they represent the interests of different stakeholders. This assignment can be useful when I perform do similar assignments in future.
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