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“PepsiCo’s responsibility is to continually improve all aspects of the world in which we operate-environment, social, economic-creating a better tomorrow than today. Our vision is put into action through programs and a focus on environmental stewardship, activities to benefit society, and a commitment to build shareholder value by making PepsiCo a truly sustainable company.” (i) Shortcoming matrix of current vision statement
“PepsiCo’s responsibility is to continually improve all aspects of the world in which we operate-environment, social, economic-creating a better tomorrow than today.” There is vague for this sentence.
Vision should easy to read or understand. It does not mention what aspects of the world that PepsiCo’s improve to become better. PepsiCo should provide clearly vision statement for their employee and management as guideline to follow. “Our vision is put into action through programs and a focus on environmental stewardship, activities to benefit society, and a commitment to build shareholder value by making PepsiCo a truly sustainable company.”
This vision statement is not distinctive and too board.
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Any company also can be like this where focus on stewardship and activities to benefit society and shareholder. It does not focus on specific area such as become the world premier consumer products company where focus on beverage and food industry. Besides, this vision is not easy to understand. It required further explanation to understand more details and the hidden meaning. (ii) Evaluation of current vision statement
From PepsiCo’s current vision statement, there are no directional on product and market.
Customers do not know what product that they sell and which industry are they from their vision. The graphic that appear from PepsiCo’s current vision statement is having strong financial resources where success in business while leaving a positive imprint on society in food beverage market. They keep undertaken various protect environmental projects to enhance their brand equity. PepsiCo is focus on building shareholder values by its sustainable competitive advantage without forget environmental stewardship.
PepsiCo continuously launched out programs to create win-win situation where can benefit society and increase shareholder wealth. PepsiCo had undertaken numerous projects and alliances around the world where group by the Earth Institute to increase use of recycle materials and reduce materials used in packaging. It is the critical to PepsiCo long term success. When their image is good in society then customers may purchase more and more products from him to support its action. So, it is feasibility.
From PepsiCo’s current vision statement, the desirable is to become a truly sustainable company in which operate-environment, social, economic-creating a better tomorrow than today. PepsiCo desire to create win-win situation where can benefit society and increase shareholder wealth to enhance their brand equity and create brand awareness to the society and public.
PepsiCo’s current vision statement is not easy to understand. It is clear language but it needs few explanation to further understand what are hidden meaning to motivate PepsiCo undertake few projects to protect the environmental. (iii) Developing to real vision statement
From PepsiCo’s current vision statement, there are no directional on product and market. This will be their weaknesses because their vision statements not able to give a proper direction of what goals that they want to achieve. Customers do not know what product that they sell and which industry are they from their vision. In this case, PepsiCo vision statement slightly mismatch with the mission statement. Their mission statement does not mention how to improve the social and environment. Therefore, it will confuse customers by PepsiCo direction to achieve goals.
The graphic that appear from PepsiCo’s current vision statement is they have strong financial resources where success in business while leaving a positive imprint on society in food and beverage industry. Their strength is strong financial resources. PepsiCo can continuously develop R&D activities to further know customers’ needs and wants. Then, their opportunity is create a new market for its drinks products such as expand to all class of customers where not just focussing on young customers. PepsiCo can launch out fruit juice or low sugar drinks and beverage to target different age groups of customers.
The weaknesses are requiring take more time and effort when doing R&D activities. PepsiCo is focus on building shareholder value by its sustainable competitive advantage without forget environmental stewardship. Their strength is well-known brand name where can help PepsiCo to gain larger market share in the industry. Therefore, it creates an opportunity for PepsiCo where their new products can easily penetrate in the market because customers know their brand name and trust of it. PepsiCo had undertaken numerous projects and alliances around the world where group by the Earth Institute to increase use of recycle materials and reduce materials used in packaging. It is feasibility.
Their strength is strong brand equity with corporate social responsibility. PepsiCo undertaken numerous save environment projects can build a good image where sustainable competitive advantage to other competitors. This will create an opportunity where PepsiCo can easily diversify their business to other industry. Customers will look forward to PepsiCo brand because it is a truthfully brand. They will buy PepsiCo product to support PepsiCo actions where consider as put some effort to save our earth environment.
The weaknesses are this sustainable competitive advantage easily copy by competitors. PepsiCo desire to create win-win situation where can benefit society and increase shareholder wealth to enhance their brand equity and create brand awareness to the society and public. Their strength is strong management team to support PepsiCo to well define the core value for all shareholders. It creates an opportunity for PepsiCo to build partnership among various type of business.
(B) PepsiCo’s Current Corporate Mission Statement
“Our mission is to be the world's premier consumer products company focused on convenient foods and beverages. We seek to produce financial rewards to investors as we provide opportunities for growth and enrichment to our employees, our business partners and the communities in which we operate. And in everything we do, we strive for honesty, fairness and integrity.”
(i) Shortcoming matrix of current Mission Statement
“Our mission is to be the world's premier consumer products company focused on convenient foods and beverages.”
This mission statement is too relying on superlatives. PepsiCo should lower down its mission statement where can reach it less than 1 year.
(ii) Mission Statement Evaluation Matrix
In this mission statement, there is no customers been mentioned. In the view on products, PepsiCo want to focus on the convenient foods and beverage for its customers. In the view on market, they are selling their products globally and target to be the world’s premier consumer products company. In the view on concern for survival, growth, profitability, PepsiCo provide financial rewards to their stakeholders. PepsiCo have high market share in food and beverage market where second place after Coke Company which is PepsiCo strongest competitors. In this mission statement, there is no technology provided.
Technology that using to increase the efficiency and effectiveness during production is not focusing by PepsiCo. For philosophy, PepsiCo believe everything that they do is striving for honesty, fairness and integrity. It shows that their corporate culture is focusing on the belief to their stakeholders such as employee, suppliers, investors, business partners and shareholders. On the view of self-concept, PepsiCo know its strength and weaknesses and able to survive in this high competitive environment of food industry. PepsiCo started produce healthy drinks and go for other sector to increase its market value because healthy foods become the next trend in this industry.
PepsiCo concern for public image where they keep undertaken numerous protect environment projects. It helps PepsiCo to enhance their brand equity. They take care the community where not just concern with its investors and shareholders. Besides, PepsiCo also concern for employees. They concern with the development of employee and provide rewards for its employee based on their performance. For them, employee is their company assets where representative for PepsiCo.
(C) PepsiCo’s New Corporate Vision Statement
“As we moved to be the global market leader in foods and beverage industry, we will continuously provide various choices of beverage and products to meet different type of customer’s preferences and wants around the world. We desire to undertake our responsibility where continually improve all aspects of the world in which put into various protect environmental actions, build shareholder value and treat our employee well.” From PepsiCo’s new vision statement, it states a clearer direction for PepsiCo as guide for their daily operation activities. Their target is become the market leader in food and beverage industry, this is not rely on superlatives because their brand is well known and PepsiCo sell its products globally.
The graphic that appear from PepsiCo’s new vision statement are they having a clear vision where want to satisfy all expectations from customers, investors, and employees. They also use the profit that earn and disburse to community by leaving a positive imprint on society. PepsiCo is focus on satisfying all stakeholders’ expectation from investors, employees, business partners and community. They continuously launched out different projects and plans to bring benefit to all parties without harm shareholder wealth. It is feasibility.
PepsiCo have strong financial resources to help them to do R&D activities in order to study consumer’s preferences and wants for the beverages. PepsiCo also can use its strong financial resources to improve all aspects of world especially protect environmental actions without harm shareholder wealth.
From PepsiCo’s new vision statement, the desirable is to continually improve all aspects of the world in which continually improve all aspects of the world in by various protect environmental actions, build shareholder value and treat our employee well. PepsiCo desire to create win-win situation where can benefit society and increase shareholder wealth to enhance their brand equity and create brand awareness to the society and public.
PepsiCo’s new vision statement is not easy to understand. It is clear language and it shows the clearer direction for PepsiCo employee as guideline to follow during daily operations.
(D) PepsiCo’s New Corporate Mission Statement
“Our mission is to be the world's premier consumer convenient and healthy foods and beverages to our customers around the world. We will develop our most efficient process where using the best machinery and production process. We also provide opportunity for our employees and emphasis on their growth and enrichment developments. We seek to provide rewards as motivation to our business partners and communities and society that we operate. What we do in everything always strive for integrity, honesty, fairness and responsibility.” In this new mission statement, PepsiCo want to increase customer value by increase the customer’s choices and increase the customers base such as increase the range where not just focusing on the youngster age.
Based on the previous mission statement, there is no customer mentioned. In the mission statement, there should be has customers component because customers is the revenue for a company. Therefore, PepsiCo should concern the quality and statements of company vision where sensitive to customers wants and increase their satisfaction. The product that PepsiCo want to focus is the convenient foods and beverage. In year 2009, the fast food industry was a trend. Therefore, PepsiCo was targeted on this sector. But now, the healthy sector is slowly replacing the fast food industry. Customers are more concern on their healthy compare to convenience. PepsiCo should start to develop R&D activities to study the customer preferences and their buying behavior.
PepsiCo is selling its product though globally where international market. They are selling their products globally and target to be the world’s premier consumer products company. In the view on concern for survival, growth, profitability, PepsiCo able to survive in this competitive environment and grab the larger market share in this food industry. PepsiCo products such as non-carbonated drinks face mutual process in the product life cycle.
Therefore, they should develop the R&D activities to study customer behavior and preferences. Then, open a new market for a new product. In this new mission statement, they can improve their technology by start to change their traditional way and using online application for processing process. Now, e-commerce activities are the common and popularity used by corporate to decrease their expenses and cost. PepsiCo can start go through e-commerce or internet for their processing process such as payment, order processing and so on. This will help Pepsi to increase their productivity by lower production cost.
For philosophy, PepsiCo believe everything that they do is striving for honesty, fairness, integrity and responsibility. It shows that their corporate culture is focusing on the belief to their stakeholders such as employee, suppliers, investors, business partners and shareholders. Compared to previous mission statement, I add on more belief which is responsibility. I found this belief is important as a company to do corporate social responsibility and employee responsibility to complete a task or mission to help company reach the goals. If all the departments can play its own role well by responsible, then the corporate will be get high productivity.
On the view of self-concept, PepsiCo know its strength and weaknesses and able to survive in this high competitive environment of food industry. PepsiCo started produce healthy drinks and go for other sector to increase its market value because healthy foods become the next trend in this industry. PepsiCo concern for public image where they keep undertaken numerous protect environment projects. It helps PepsiCo to enhance their brand equity. They take care the community where not just concern with its investors and shareholders.
In this component, PepsiCo had done well because they taking action to take care our environment and leave a positive image in the society and public. A negative image may prompts firms affect their achievement of goals. Besides, PepsiCo also concern for employees. They concern with the development of employee and provide rewards for its employee based on their performance. They will provide training for its employee to increase their knowledge of products. For them, employee is their company assets where representative for PepsiCo. They are the persons who help PepsiCo to earn money and profit.
(E) Referencing
"PepsiCo Home | PepsiCo.com." RSS. N.p., n.d. Web. 18 Feb. 2013. "PepsiCo Our Mission and Vision | PepsiCo.com." RSS. N.p., n.d. Web. 18 Feb. 2013.
Pepsico’s Corporate Review Vision and Mission Statement Report. (2017, Mar 23). Retrieved from https://studymoose.com/pepsicos-corporate-review-vision-and-mission-statement-report-essay
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