Last Updated 07 Jul 2020

Strategic Analysis of Smucker Company

Category Company
Essay type Analysis
Words 1172 (4 pages)
Views 390

Introduction

Smucker Company has its mission statement, vision and values stating its innovations. Due to this, it has been able to be run by the family for four generations. It benefits from the dynamic strategic management that makes the largest collaborative industry among beverages, consumer products and largely food,  hence seeking to create productivity .It is arguably a company that stands for what it believe in: a factor  which range from quality, ethics, independence and growth. Smucker Company continually changes and expands its line of products thus affording to meet the ever changing needs of consumers. With regard to this, it is committed to the acquisition of brands that will help in complimenting its main products for a long term basis.

Analysis of Smucker Company Strategic Process

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Smucker Company is widely renowned for its family controlled nature and it has earned a reputation for its honesty, independence, fairness, and respect for the clientele. Jaffe (1998) assert that the mission statement, vision statement, values, goals and objectives are established within the paradigm of marinating independent, quality and respect for its customers.

Mission statement of Smucker Company reflects an exploration of how the involvement of family in the governance of the company can facilitate a corporate culture that is powerful. Fisher et al (2008) argues that the mission statement mirrors the set of values that were first defined by the founding family. Accordingly, the trust that this company has gotten has been due to its commitment to a mission statement that reflect what they are as a company and stipulates the principles of their operation in the market place. This has been the guiding principle of the company since it helps the direction and gives the company purpose.

The vision statement equally narrows down to the question of quality which steers an internal environment that is not only ethical but also successful as well as competitive. Duhamel et al (2000) notes that the purpose of providing an opportunity where families will be brought together to share memorable meals as well as moments points out an element of strategic management captured in the mission statement. Smurker’s vision statement articulates that they are a company as well as a business that strives to affect the society in the positive way.

 David (2006) further portends that the various product lines of the company are marketed through this vision statement because of the evident idea that Smucker is honored as a result of the understanding that their family of brands are made available for families to share. This articulates the point that it does not only have a business motive but also brings families together. In this view, family is an important value in the American society. Smucker Company’s vision is inspiring and succinct pointing out what the organization intends to achieve in a given period in future.

The values and core beliefs of the company reflect the traditional outlook of the founding family. Accordingly, Smucker Company has its values enshrined around quality, growth, ethics, people as well as independence. Evidently these are values that are cherished in the wider American society and addressing similar values as a company amounts to using a corporate strategy that guides the running of activities is in the company on a daily basis and also stipulates how strategic decisions are made. Accordingly, these values are drawn from the philosophy of Smucker Company and continue to be the pedestals upon which the company plans its future business strategies for success (Smucker Company, 2010).

Jaffe (1998) is critical to these set of values and argues that the business operation and practice of the company these values but in relation to the modern business environment, such value may not appeal to those pole who are perverted in the world because, give that they don’t identify themselves to these universal values, they may not be lured into consuming Smucker brands. However, these values position Smucker in the global marketplace because of the considerable factor that they determine the fair price for products and the running of the company revolves around sound policies.

In addition, Fisher et al  (2008) postulates that values of Smucker company serve as a concise signpost for the daily running of the company as well as the interaction of the company with other external and internal stakeholders such as the suppliers, shareholders, employees, consumers and the wider community. Over a long term period Smucker will achieve a good investment because its values make a considerable contribution to the culture of the American people and thus Smucker is perceived to build a better America.

Having a value statement like that of Smucker does not guarantee one success but enshrining certain issues like independence helps protect the values. For instance, the Smucker’s family dedication to independent help by formulating the strategic management of the values. In so doing, a company is allowed to enhance their long term goals without compromising the quality as well as ethics. Accordingly, Smucker has maintained a value driven culture.

The strategic market objectives and goals of Smucker are clearly structured and concisely focus on the intention to improve its long term market position as well as its competitive strength. With regard to this, the goals and objective of this company create customer value and goes to the length of adding a market share (Jaffe, 1998). Smucker thus is able to overtake its competitors in value of the product, product innovation as well as improving the reputation of the company with customers.

However, the objectives need to concentrate on the competitive action which emphasis on dominating the market niche. Duhamel et al (2000) argue that Smucker company goals and objectives should be broad, continuous, convert the mission and vision action into action , measurable and finally help in the sustenance of the competitive advantage of the company. The goals on the other hand should come out as major outcomes of the larger strategic mapping. Although Smucker’s goals are strategic, realistic and specific, they fail to help the company look at the bigger picture turning all activities of the company towards reaching the operational planning.

Conclusion

Smucker company analysis in terms of the strategic management has helped us to gain an understanding of its market growth, product quality and product innovation. The goals, objectives, mission statement, vision statement and values are well founded such that they poise it to become a leading food industry in the world. Through these entire strategic features, Smucker continues to search for a new acquisition in international market niche. The executive leadership of Smucker Company builds on the strategic intent of mission statement, vision statement, values, goals and objectives to develop a image that is mental and which gives an impression of a desirable as well as possible state of affairs of the company in future.

Reference

Duhamel, I et al (2000). A Managerial Perspective of Strategic Management. Oxford: OUP

Fisher, C et al (2008). Human Resource Management. London: Wiley Publishers

David, F (2006). Concepts and Cases of Strategic Management. New York: Routledge

Jaffe, D.(1998).  Organizational Vision,Values and Mission .New York: Crisp Publications.

Smucker Company (2010). Company Profile, Goals and Objectives. Retrieved from www.smucker.com/family_company on 31st, May, 2010

 

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Strategic Analysis of Smucker Company. (2018, Mar 28). Retrieved from https://phdessay.com/strategic-analysis-of-smucker-company/

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