The Hershey’s company mission is “Bringing sweet moments of Hershey happiness to the world every day. ” Hershey’s mission statement is short and sweet. They are able to address the majority of the nine components of the mission Statement with one sentence. Their customers are the world, their product is Hershey, their market is the world, their philosophy is to bring happiness, and their self-concept is that they perceive themselves as a company that can bring happy moments to individuals who use their products across the world everyday.
There are nine component of mission statement ,whisch is Customers, Products/Services, Geographic Markets, Technology, Concern for Survival, Philosophy, Public Image and EmployeesDistinctive Competence. The mission statement needs to include some description of the function of the business. For example, “to promote industrial excellence,” tells customers and employees nothing. A more effective description would be “To provide management consulting services. ” An effective mission statement sets out, in broad terms, the target market.
A manufacturer that makes nuts and bolts might set its target market as retail hardware stores, machine manufacturers, or both. The business must determine what region it serves best and relay that information by way of the mission statement. A garage, for example, might limit its target region to the community while a magazine company might target an entire country. Mission statements typically include a statement of company values. Values such as customer service, efficiency and eco-consciousness often appear on lists of company values.
At their best, company values should express principles the company explicitly tries to affirm in day-to-day operations. For businesses that rely heavily on technology, the mission statement should include a description of the essential technology the company does or plans to employ. If nothing else, this directs purchasing agents toward the appropriate vendors for goods and services. Every company has a policy regarding its relationship with employees. A mission statement provides an opportunity to describe that policy in brief so employees know the essentials of where they stand.
Effective mission statements also include a brief description of the business’s strategic position within the market. For example, the company might excel at serving residential clients and seek to maximize that strategic advantage. For for-profit ventures, businesses require clear financial objectives. A start-up company might set one of its financial objectives as making an initial public offering of common stock within two years. This lets the employees and potential investors know the company intends to go public, with all of the legal and record keeping ramifications that entails.
Like people, companies develop public images. Careful companies craft the public image they want to establish and lay out the major features of it in the mission statement. This helps managers direct employees that stray from the sanctioned public image. Hershey’s objectives * To promote the health benefits of Hershey Chocolate * Help the consumers change their mind-set that chocolates are unhealthy * To spread awareness and increase sales of product Critically analysis the strategic objective of Hersheys company. Answer :
Hersheys as the popular chocolate company has provided a good list of objectives of their company. Firstly, Hersheys company try to give an effort on promoting the health benefits of their product to shared it with thier customer. For the example, Hersheys company win their customer by influence them to make a choice Hersheys chocolate as the best healthy chocolate. This parallel to the second objective of Hersheys company that to bring hope to help the consumers to change their mind-set about the unhealthy of taking chocolate.
So that, by implement the first and second strategy Hersheys company can increase sales of product and spread awareness well. Based on Specific, Measurable, Attainable, Responsible person and Time specific (SMART) Hersheys Company not follow the technique wisely. For the Specific part, Hershey company fail to specific their goals. They must try to answer the questions of how much and what kind with each goal writen. On part Measurable, the company must set the goals that stated in quantifiable terms, or otherwise they’re only good intentions.
Measurable goals facilitate management planning, implementation, and control. Hershey shown the implement to getting the customers that has mind-set of chocolate is a healthy junk food. Besides that, the third aspect of SMART technique is Attainable that talk about the goals must provide a stretch that inspires people to aim higher and make sure the goals must be achievable, or they’re a set-up for failure. For the Hershey company, they objective or goals that want to change customer mind-set about taking chocolate is a good habits that inspired their customers to increase their loyalty.
Fourth aspect is the responsible person or group of department to take the responsibility to run the objectives. The goals must be assigned to a person or a department. But just because a person is assigned to a goal doesn’t mean that she’s solely responsible for its achievement. Hershey company did not state clearly who or what department must take the important part of implement the objective of the company. Lastly, aspect of time specific which is reference to time, the goals must include a timeline of when the goals should be accomplished. The Hershey did not state it in their objective.
This is make the goals can become flexible to achieve that never based on time setting. Besides that, Hershey company also has their own strategy as an backup of their objective which is entering new market in Canada, United States, Mexico,Brazil and other international locations(India,The Philippines ,Japan and China), producing new products with new brand name, expanding its global presence via joint venture and merger, supporting environmental and social projects, increase sales using promotional materials and the last is roducing healthy chocolates.