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Kraft Foods is an extremely well recognized brand that provides a vast array of food and beverage products with the ultimate goal “to become North America’s best food and beverage company” (Kraft, 2014). Critical analysis of Kraft Foods mission, vision and values statements revealed some necessary changes to enhance organizational success.
Kraft Foods will become the top in their industry by continuing to develop and sell products tailored to their consumers needs/demands. Assisting consumers to make healthy life choices is part of their dedication to stakeholders.
Through incentives and rewards employees will remain dedicated, motivated and have pride in Kraft Foods products thereby increasing financial growth.
Kraft Foods understands that contributing to the community is essential for lasting success. Actively protecting natural resources will leave a huge footprint and legacy for Kraft Foods. Kraft Foods mission statement is very generic and broad in nature. By narrowing and focusing this goal they will guarantee their future success. The vision and values statements are well written and invoke memories and emotions from their stakeholders thereby drawing them to Kraft Foods.
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Introduction
Since its establishment in 1903 Kraft Foods has become a well respected household name (Kraft Foods, 2014). Over the last century Kraft Foods has bought out many of their competitors and expanded their line of products, keeping them as one of the top food and beverage companies in the nation (Kraft Foods). In order to remain successful and accomplish their mission it is imperative their business statements accurately reflect their vision and values.
In this paper the author will discuss the mission, vision and values of Kraft Foods and how these powerful statements contribute to their overall success in the industry. Mission Statement Analysis
Every organization should present a powerful clearly articulated statement as to why their organization exists (McNamara, 2009). This statement should convey to outside stakeholders the benefits of conducting business together to increase chances of financial success. Kraft Food’s mission statement reads “our aim is to be North America’s best food and beverage company” (Kraft Foods, 2014). Kraft Food’s mission statement is very simple, generic and lacks sufficient depth, especially given the size of the Kraft Foods organization. Mission statements should include strong powerful words that articulate and enunciate an organization, resulting in a memorable impression that remains on the forethought of all the stakeholders (Ramjee, n.d.).
A mission statement is short term future goals and it is therefore imperative that organizations readdress their mission statements from time to time (Rector, 2010). With all the health phenomenon concerns in North America it is pivotal Kraft Foods continue to reevaluate their mission and re-strategize as needed to remain on the top of their industry and draw new clientele to their organization. The ability to use different marketing strategies, seize different opportunities will draw new stakeholders to Kraft Foods thereby ensuring mission success and financial growth. Vision Statement Analysis
An efficient and effective vision statement is a powerful tool that paints a vivid picture while describing how an organization is going to accomplish their mission (McNamara, 2009). This one statement can convey power, confidence and inspire stakeholders (Change Factory, 2014). A vision statement takes into consideration an organizations market, customers, strengths and weaknesses in order to enhance themselves (Change Factory). Kraft Foods vision statement reads “we’ll get there by continuing to offer products consumers love, creating a performance-based culture that motivates and excites employees and becomes the best investment in the industry” (Kraft Foods, 2014).
With this simple sentence Kraft Foods inspires, motivates and invokes memories from their stakeholders. Painting a vivid picture for stakeholders invokes emotions from past experiences. These memorable impressions stay with stakeholders and they are therefore more likely to support Kraft Foods. This influential statement also describes the most cherished values, services and vision of the future thereby allowing stakeholders to determine if their personal values meet up with that of Kraft Foods future and if investment in this organization is beneficial (Crea, n.d.).
Another aspect of vision statements is the ability to state realistic outcomes (Millard, 2010). Realistic outcomes are imperative as they motivate employees and help them focus on something bigger than themselves (Millard). Meeting these goals, “offering products consumers love” enhances dedications, motivation and pride, which will further enhance Kraft Foods success (Kraft Foods, 2014). The vision statement for Kraft Foods is well articulated, creates a vision of the future company, invokes emotions and draws stakeholders to the organization. Values Statement Analysis
In addition to mission and vision statements a values statement will enhance an organizations chance of future success. A values statement is the core of an organization and what values they cherish (Edmunds, 2014). It defines how employees will behave and how actions and behaviors will be evaluated (Edmunds). A values statement reveals how an organization values not only their customers, but suppliers, shareholders and stakeholders (Edmunds). At Kraft Foods their values statement reads to “make a difference in communities, protect greatest resources – land, air, water, people, educate and motivate to make healthful choices, food safety and quality, and workplace safety” (Kraft Foods, 2014). It is essential a values statement identify and address the organizational values in a clear concise manner so every stakeholder knows and understands what will be tolerated within the organization.
The clear writing of Kraft Foods vision statement allows people to contribute to something bigger then themselves. An added benefit of a values statement is rewards and recognitions are structured around this statement and those employees who embrace the organizational values are identified and rewarded (Edmunds). This statement tells shareholders how the organization hires and promotes individuals and demonstrates that Kraft Foods external suppliers are in alignment with the organizations values, thus enhancing bonds of trust and respect. Alignment of Goals/Needs with Stakeholders Interests
The mission, vision and value statements all work together to define an organization. Additionally these statements need to address the goals and needs of the shareholders and stakeholders thereby insuring future investors. Through their business statements Kraft Foods specifically addressed four stakeholder needs they hope to meet. Kraft Foods addresses consumers by focusing on “quality, safe food that consumers love” in their vision and values statements (Kraft Foods, 2014). Additionally Kraft Foods values statement discusses their dedication to helping North Americans “make healthy food choices” (Kraft Foods). Their dedication is also evident by the accumulation of healthy name brands products, such as Back to Nature granola (Kraft Foods).
The values statement of Kraft Foods also addresses the organizations dedication to “making a difference in the community” (Kraft Foods, 2014). Kraft Foods is leaving a positive impression, huge footprints and taking massive strides “to make the world a better place with every action they take” (Kraft Foods). This is apparent by their dedication to food drives aimed at fighting hunger, providing humanitarian support, building playgrounds, and planting gardens (Kraft Foods).
Kraft Foods also addresses their employees, one of the biggest stakeholders, in their business statements. Employees at Kraft Foods are “treated with respect, provided a safe work environment, and encouraged to do great things” (Kraft Foods, 2014). This organization understands that success is dependent on motivated, driven and dedicated employees that take pride in their work. Additionally, through their business statements Kraft Foods is telling the outside world about their employee commitment thus developing respect from the community, industry and other stakeholders.
Kraft Foods understands that in order to be successful a strong cooperate governance must be establish to help balance the needs of shareholders and stakeholders (Kraft Foods, 2014). “Kraft Foods Board of Directors believe effective corporate governance provides a strong framework to assist them in upholding their fiduciary responsibilities to shareholders and promote long term success of the organization” (Kraft Foods). Improvements of the Company Statements
Kraft Foods is one of the largest organizations in North America and it is essential their business statements accurately reflect their dedication and drive to succeed. Although admirable, Kraft Foods mission statement is very generic and lacks the special connection to draw stakeholders to the organization. In comparing McNamara’s list of criteria for a well written mission statement Kraft Foods falls short (2009). This statement is not powerful, not memorable, does not discuss growth and profit sufficiently and does not target specific clientele (McNamara). Additionally their goals are extremely far reaching and unattainable. The mission statement needs to be more focused in order to keep stakeholders motivated and driven for success.
The vision statement is well written and invokes emotions and memories from stakeholders while also being descriptive in how they will achieve success. Millard states vision statements should be clear, memorable, realistic and discuss positive outcomes (2010). Kraft Foods addresses each one of these criteria in their vision statement. This powerful statement draws stakeholders to the organization and makes they want to be a part of the success.
It is the author’s opinion that Kraft Foods values statement clearly articulates the values Kraft Foods cherishes. This statement motivates people to join the Kraft Foods team and become part of something bigger. Kraft Foods is dedicated to leaving a lasting impression and legacy not only with consumers but the environment and this is clearly communicated in their values statement. Conclusion
Developed in 1903 Kraft Foods has become one of North America top brands. Through their mission, vision and values statement Kraft Foods is able to communicate to stakeholders why the organization exists, where they are going in the future, how they will get there and their dedication to the world around them. Although some adjustments can be made to their mission statement, overall these statements are clearly written and draw stakeholders to Kraft Foods by invoking their emotions, memories and values.
References
Change Factory. (2014). The Components of a Good Vision Statement. Change Factory.Retrieved July 13, 2014 from http://www.changefactory.com.au/our-thinking/articles/thecomponents-of-a-good-vision-statement/ Crea, T. (n.d.). A Good Mission Statement. All About Leadership. Retrieved July 13, 2014 fromhttp://www.all-about-leadership.com/good-mission-statement.html Edmunds, S. (2014, May 6). What is a Value Statement? EHow. Retrieved July 12, 2014 fromhttp://www.ehow.com/about_5063071_value-statement_.html Kraft Foods. (2014). Retrieved July 12, 2014 fromhttp://www.kraftfoodsgroup.com/home/index.aspx McNamara, C. (2009). Developing a Mission Statement. Management Library Online. RetrievedJuly 12, 2014 from http://managementhelp.or/strategicplanning/mission-visiom-vales.htm Millard, S. (2010, December 7). Characteristics of Mission and Vision Statements. University ofHawai’i Hilo. Retrieved July 10, 2014 fromhttp://hilo.hawaii.edu/strategicplan/documents/SPC18_10_Mission_and_Vision.pdf Rector, B. (2010, April 18). Clear, Concise Mission Statements. Memphis Business Journal.Retrieved July 10, 2014 fromhttp://www.bizjournals.com/memphis/stories/2010/04/19/smallb2.html Ramjee, P. (n.d.). The Important of Making a Good First Impression in Business. Chron SmallBusiness. Retrieved July 13, 2014 from http://smallbusiness.chron.com/importancemaking-good-firstimpression-business-23065.html
Kraft Foods: A Diverse Brand with a North Star Goal. (2016, Apr 23). Retrieved from https://studymoose.com/kraft-foods-2-essay
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