Strategic Management: Vision, Mission, and Stakeholders (Research Paper Sample)

Strategic Management
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Strategic Management
General Mills is an American international company that manufactures and markets branded consumer food traded through retail stores. The company sells brands, such as Progresso, Betty Crocker, Fiber One, Colombo, Cheerios, Green Giant, Hamburger, and Pillsury. General Mills was founded in 1866 has its headquarters in Minneapolis, Minnesota. The company supplies branded, as well as unbranded food products to commercial baking in addition to foodservice industries. Being one of the largest food firms, it is estimated that the company offers over 60 million servings of ready-to-eat cereal daily. General Mills is presently marketing in over 100 nations on six continents; employing more than 33,000 employees, where half of these employees work outside the United States. General Mills is the second biggest cereal manufacturer in the US where it controls 31% of the market after Kellogg that controls approximately one-third of the marketplace (General Mills Incl., 2014).
General Mill’s mission and vision statements are tied together in its values. The company’s mission statement entails nourishing lives-making lives healthier, easier, as well as rich daily. The company aspires to improve the lives of its clients through its healthy brands that markets around the world. This mission statement has the inspiration of the company because it endeavors to serve the world communities through its healthy brands that nourish lives. The mission statement and values are a huge contribution to its competitive advantage in the food processing industry. The company reinforces its values daily via its customers, brands, innovation and performance to make sure that it promote healthy living and make its clients to enjoy their meals. Furthermore, the company in its values strives to do the right thing at all times, respect, develop and invest in people. The company’s mission and vision statements reflect its core, identity, values, as well as principle business objectives (Hill & Jones, 2008).
In any business, there are several person and organizations that can support and have responsibility to keep the business going. Stakeholders are one of them. There are individuals who have an interest in the activities of the company; nonetheless, they do not have to own any finance in the company. The General Mills’ stakeholders include customers, employees, managers, suppliers, the government, and the community (General Mills Incl., 2014). Employees play an important role in helping the company to attain its objectives both in short-term and long-term. The company treats its employees as assets and understands that employees contribute immensely to the goals of the company. The employees take part in decision-making process in different forums that need their voice. The company treats the employees as valuable assets and this has made it to retain and maintain most skills employees, and to attain a high market share compared to other food firms, like Kellogg, as well as Nestle. For the customers, they are important part of the company because they are the one that purchases its products. Through effective customer service, General Mills has continued to maintain its customers and has high customer base. Also, because of the high reputation of the company, it has built loyal customers that buy the company’s products always (Buchholtz & Carroll, 2014). The government as a stakeholder plays an important it its policies and creates favorable environment for the business. Manage...