Module 1 – Home
Strategic Management Process/Vision, Goals, Objectives
Assignment
In this assignment, you will be critically evaluating the vision, values, mission statement, and goals/objectives of the Kraft Foods Group.
Keys to the
Assignment
After studying the background materials and completing the SLP
, you are in an excellent position to evaluate a company’s published mission, vision, values, and objectives/goals. This Case asks you to begin your strategic analysis of the Kraft Foods Group by evaluating the company’s mission, vision, values, and goals. To do this, observe the following procedure:
- Step 1: Visit the official website of the Kraft Foods Group, and identify the company’s vision, mission, values, and goals. (Hint: You’ll need to do some exploring and a certain amount of speculation—as the terms “vision” and “mission” (and sometimes even the term “company goals”) are used interchangeably. Explore the “About Us,” and “Investor Center” links. Also, look closely at the most recent Annual Reports.
- Step 2: Critically evaluate the mission, vision, values, and goals (again, you’ll likely need to make decisions as to which is which). Use the criteria in the background materials as well as the readings related to the SLP to support your assessment of the quality of the company’s mission, vision, and values.
- Step 3: Determine which (if any) of the elements consider the goals and needs of specific stakeholder groups. Write down any examples.
- Step 4: Consider what changes are needed to improve the vision statement, the mission statement, the statement of company values, and the company’s objectives and goals.
- Step 5: Write a 5- to 7-page paper addressing the above requirements. While you must meet minimum length requirements, you must also address the above requirements with precision and with appropriate breadth and depth.
NOTE THE FOLLOWING REQUIREMENTS AS WELL:
Consider the Case as a formal business report that you are developing for the Board of Directors and CEO as the Kraft Foods Group’s consultant. This is a professional document. Follow the format below: Executive summary: This is a synopsis of the main points, conclusions, and recommendations made in the longer report. If you have never written an executive summary before, or would like a refresher, check this link:http://www.highendfinance.com/CommercialLoans/Docs/07-4%20ES%20Guidelines
Assignment Expectations
Your paper will be evaluated on the following seven points:
Breadth – Is the full breadth of the subject (i.e., the
Keys to the Assignment
) addressed?
Module 1 – SLP
Assignment
In this module, you will be learning what constitutes good mission and vision statements. You will also be developing a list of criteria for evaluating such statements. You will then use these criteria to evaluate a corporate vision and mission statement in the Case. Finally, you will be comparing your two lists for commonalities and differences.
Keys to the Assignment
The key aspects of this assignment that you must cover in your 3- to 4-page paper are:
- Step One: Read the Background materials and conduct additional research about writing mission and vision statements. You may rely solely on the websites in the Background materials or supplement them if you wish. You will find that there are a great many opinions on what constitutes a “good” mission statement. Your job is to identify five criteria that you believe are crucial to devising good mission statements.
- Step Two: Research the Background websites dedicated to writing vision statements. Again, you may supplement them if you wish. Identify five criteria you think are critical to good vision statements.
- Step Three: In a 3- to 4-page paper:
List the five criteria you have chosen for mission and vision statements (i.e., five each). This can be a bulleted list.Justify your choices. Explain why you think each individual criterion is important.Critically compare the commonalities and differences between your two lists. Be sure that you address this requirement with appropriate depth.
Module 2 – Home
External Environment Analysis
Assignment
An environmental analysis can be an extensive undertaking, requiring far more time and resources than we have for this course. Therefore, be sure that you do not give an inordinate amount of attention to any one factor to the exclusion of other important ones.
Keys to the Assignment
Executive summary: This is a synopsis of the main points, conclusions, and recommendations made in the longer report. If you would like a refresher on writing an executive summary, check this website:http://www.highendfinance.com/CommercialLoans/Docs/07-4%20ES%20Guidelines Introduction: State the main purpose of the paper (thesis statement), what you hope to accomplish, and how you will go about doing it.Main Body: The “meat” of the paper. Emphasize analysis, not just description. Use section headings in this paper—and all papers. For example: Executive SummaryIntroductionPorter’s Five ForcesThreat of EntryRivalrySubstitutesBargaining Power of SuppliersBargaining Power of CustomersPESTPolitical EnvironmentEconomic EnvironmentSociocultural EnvironmentTechnological EnvironmentOverall Impressions Concerning the Company’s Environment (
Opportunities
and
Threats
)ConclusionAssignment Expectations
Your paper will be evaluated on the following seven points:
- Precision – Does the paper address the question(s) or task(s)?
- Breadth – Is the full breadth of the subject ( i.e., the Keys to the Assignment) addressed?
- Depth – Does the paper address the topic in sufficient depth and include the Background readings and other Background resources as references?
Critical thinking – Is the subject thought about critically, that is, accurately, logically, relevantly, and precisely?Clarity – Is the writing clear and are the concepts articulated properly? Are paraphrasing and synthesis of concepts the primary means of responding to the questions or are points conveyed through excessive use of quotations? Organization – Is the paper well written? Are the grammar, spelling, and vocabulary appropriate for graduate-level work? Are headings included in all papers longer than two pages? Referencing (citations and references) – Does the paper include citations and quotation marks where appropriate? Are the references from the Background readings and assignment present and properly cited? Are all the references listed in the bibliography present and referred to via citation?
Tips and Suggestions
Module 2 – SLP
Assignment
The key aspects of this assignment that should be covered in your paper are:
- Step One: Research Web and library sources that would give you the kinds of data you would need to conduct a Porter Five Forces analysis. Use the Kraft Foods Group (and thus, the foods industry) as the basis for this SLP. Note: We are not looking for sites that describe the Five Forces, but sites that will provide you with data that you will be able to use to conduct your own external environmental analysis (e.g., to analyze the degree of competition in an industry, or the ease of substitution). You have undoubtedly run into such websites and publications before in your core courses. Typically, they are government sources providing statistical data, industry or trade magazines or journals, general business publications, finance websites, websites for trade associations, etc.
- Step Two: This is a two-step process: Determine what kinds of information you would need to evaluate each of Porter’s forces (see the background materials), and then find a source that will give you that information. Find a minimum of one or two sources for each of Porter’s forces.Research Web and library sources that would give you data to support a PEST analysis. Find at least one or two sources for each PEST variable.
- Step Three: For each source you have given above, provide a title and a URL (if applicable), and write a sentence or two explaining what information is provided by the source and how the source would be useful in conducting an external analysis, and critiquing the source (e.g., what are the strengths and limitations of the source)?
- Note: There are no length requirements for the SLP, however, you must address the above requirements precisely (two sources for each Porter and PEST factor), and you must critique the validity of each source with adequate depth.
Assignment Expectations
Module 3 –
Home
Internal Analysis and SWOT Analysis
Assignment
The completion of an internal profile can be an extensive undertaking, requiring far more time and resources than we have for this course. So—as in prior modules—limit your analysis to the identification and evaluation of one or two key items in each element of the model, as described in the Background reading and as enumerated in the SLP for this module.
Keys to the Assignment
Step Four: Consider the Case as a formal business report that you are developing for the Board of Directors and CEO as theKraft Foods Group’s consultant. This is a professional document. Follow the format below: Executive summary: This is a synopsis of the main points, conclusions and recommendations made in the longer report. If you would like a refresher on writing an executive summary, check this website: http://www.highendfinance.com/CommercialLoans/Docs/07-4%20ES%20Guidelines Introduction: State the main purpose of the paper (thesis statement), what you hope to accomplish, and how you will go about doing it.Main Body: The “meat” of the paper. Emphasize analysis, not just description. Delineate separate topics or sections withsection headings.Conclusion: Summarize your paper in the light of your thesis statement.
Module 3 – SLP
Assignment
In this SLP, you will be completing a modified RBV analysis of the Kraft Foods Group. You will incorporate this information into your Case analysis for this module.
Note: Throughout this course, you should complete the SLP before you undertake the Case analysis. Before you begin the SLP, read the Background materials thoroughly.
Keys to the Assignment
- Step One: Resources are the inputs into a production process. They can be capital, equipment, patents, skill sets of individual employees and/or managers, financial resources, etc. Resources can be tangible or intangible. Individually, they may not necessarily lead to a competitive advantage—it is how they are used and the synergies they create that make them strategically valuable. Present as much information as you can find about the following as it relates to the Kraft Foods Group:
Tangible Resources
1. Physical Resources
2. Financial Resources
3. Human Resources
4. Other
Intangible Resources
1. Technical Resources
2. Intellectual Resources
3. Goodwill
4. Other (cultural, reputational, strategic alliances)
- Step Two: Distinctive capabilities are those competencies possessed by a firm that cannot be copied or can be replicated only with great difficulty or resources. Determine the distinctive capabilities of the Kraft Foods Group as it relates to as many of the following as you can:
1) Architecture
2) Reputation
3) Innovation
- Step Three: Provide the above information in a 4-page paper (not including cover page or references).
Assignment Expectations
Your paper will be evaluated on the following points:
- Precision – Does the paper address the question(s) or task(s)?
- Breadth – Is the full breadth of the subject (i.e., the Keys to the Assignment) addressed?
- Referencing (citations and references) – Does the paper include citations and quotation marks where appropriate? Are the references from the Background reading and assignment present and properly cited? Are all the references listed in the bibliography present and referred to via citation?
- Application – Are the concepts of the module appropriately applied to the subject?
Depth – Does the paper address the topic in sufficient depth and include the Background readings and other Background resources as references? Critical thinking – Is the subject thought about critically, that is, accurately, logically, relevantly, and precisely?Clarity – Is the writing clear and are the concepts articulated properly? Are paraphrasing and synthesis of concepts the primary means of responding to the questions or are points conveyed through excessive use of quotations? Organization – Is the paper well written? Are the grammar, spelling, and vocabulary appropriate for graduate-level work? Are headings included in all papers longer than two pages?
Tips and Suggestions
Module 4 – Home
Strategic Choices
Required Reading
Refer to the required and optional reading on strategic choices, the theme of Module 4.
Assignment
- In a 5- to 7-page paper, respond to the following:
1) Which of the four generic (Porter) strategies does the Kraft Foods Group follow, and how do you know?
2) Integrate the strategy you’ve identified above with the strengths, weaknesses, opportunities, and threats you identified in Modules 2 and 3. Doing so should give you some specific actions the company is taking relative to its strengths, weaknesses, opportunities, and threats. These actions are referred to as “strategic choices.” Do the Kraft Foods Group’s strategic choices align with the firm’s generic strategy? If not, what are the points of disconnect? Think critically about this step, as no company achieves perfect alignment of its strengths, weaknesses, opportunities, and threats with its chosen strategy. It is your job to uncover the discrepancies and problems.
3) How can the Kraft Foods Group leverage its strengths and shore up its weaknesses by altering its strategic choices? How can the company take advantage of environmental opportunities and minimize environmental threats by altering its strategic choices?Be specific.
4) Complete the paper by commenting on how your view of the Kraft Foods Group’s vision and mission has changed or has been reconfirmed by this process of strategic analysis. Would you make any suggestions to revise the company’s mission or vision statements, or any of its goals/objectives?
5) Consider the Case as a formal business report that you are developing for the Board of Directors and CEO as the Kraft Foods Group’s consultant. This is a professional document. Follow the format below:
Executive summary: This is a synopsis of the main points, conclusions, and recommendations made in the longer report. If you would like a refresher on writing an executive summary, check this website:http://www.highendfinance.com/CommercialLoans/Docs/07-4%20ES%20Guidelines Introduction: State the main purpose of the paper (thesis statement), what you hope to accomplish, and how you will go about doing it.
Module 4 – SLP
Required Reading
If you are having trouble determining how to integrate the SWOT factors with different strategies, the following two readings may help.
1) The first article includes some examples of how RBV variables can be used to leverage a cost or differentiation strategy:
Competitive Advantage (2007). Retrieved on November 6, 2012, from:
http://www.quickmba.com/strategy/competitive-advantage/
2) The second reading demonstrates how a cost, differentiation, or focus strategy can help a company defend itself against Porter’s Five Forces:
Porter’s Generic Strategies. (2007). Retrieved on November 6, 2012, from:
http://www.quickmba.com/strategy/generic.shtml
Assignment
In this module, using the Kraft Foods Group, we will be integrating the results of our SWOT with our chosen strategy.
Keys to the Assignment
- Step 1: Create a 5×5 table with the four strategies listed across the top and the four SWOT variables at left as follows:
Low cost |
Differentiation |
Focus |
Preemptive |
|||||||
Strengths |
||||||||||
Weaknesses |
||||||||||
- Step 2: Using your work in Modules 2 and 3 as it relates to the Kraft Foods Group, select one element from any of the analytical models we studied that contributes to each of the four SWOT variables. For example, for Weaknesses, you may want to choose an element from Porter’s Value Chain (say, operations), while for Opportunities you may want to select something from the PEST analysis (say, sociocultural factors). Select one for Strengths and Threats as well.
- Step 3: Enter the elements you have chosen with the corresponding SWOT variable. Below, “strong competitive rivalry” has been chosen for Threats. Note that other choices could have been high barriers to entry, high bargaining power of suppliers or customers, high substitutability (from Five Forces analysis), or a specific political, economic, social, or technological factor (from PEST). Complete this process for all four SWOT variables.
Low cost |
|
Threats: Strong competitive rivalry |
- Step 4: This is potentially the most challenging part. Indicate the impact each strategy might have on each SWOT factor you have chosen by offering a business action that will address the SWOT. For example, follow the threat “strong competitive rivalry” across all four generic strategies. How would a low-cost strategy address an industry environment characterized by intense rivalry? What about a differentiation strategy? Focus? Preemptive? In other words, you are considering the same industry threat, but addressing it differently depending on the chosen strategy. See the example below:
Undercut rivals on price through operational economies |
Brand loyalty attracts repeat customers |
Find an underserved market segment that rivals are unwilling to serve |
Beat rivals out of the gate, establish dominant position |
Thus, the strategic action you choose to fill in a given blank should do two things: 1) offer a tactic for taking advantage of a strength or opportunity or for managing a threat or weakness, and 2) follow the basic thrust of the strategy in that column.
Assignment ExpectationsYour paper will be evaluated on the following points:
- Precision – Does the paper address the question(s) or task(s)? Breadth – Is the full breadth of the subject (i.e., the Keys to the Assignment) addressed? Depth – Does the paper address the topic in sufficient depth and include the Background readings and other Background resources as references? Critical thinking – Is the subject thought about critically, that is, accurately, logically, relevantly, and precisely?Clarity – Is the writing clear and are the concepts articulated properly? Are paraphrasing and synthesis of concepts the primary means of responding to the questions or are points conveyed through excessive use of quotations? Organization – Is the paper well written? Are the grammar, spelling, and vocabulary appropriate for graduate-level work? Are headings included in all papers longer than two pages?Referencing (citations and references) – Does the paper include citations and quotation marks where appropriate? Are the references from the Background readings and assignment present and properly cited? Are all the references listed in the bibliography present and referred to via citation? Application – Are the concepts of the module appropriately applied to the subject?
Module 5 – Home
Strategy Implementation
Assignment
In Module 5, we will conclude the case study process by researching the Kraft Foods Group’s strategic controls and their fit with the company’s chosen strategy.
Keys to the Assignment
Step Six:
Executive summary: This is a synopsis of the main points, conclusions and recommendations made in the longer report. If you would like a refresher on writing an executive summary, check this website:http://www.highendfinance.com/CommercialLoans/Docs/07-4%20ES%20Guidelines Introduction: State the main purpose of the paper (thesis statement), what you hope to accomplish, and how you will go about doing it.Main Body: The “meat” of the paper. Emphasize analysis, not just description. Delineate separate topics or sections with headings.Conclusion: Summarize your paper in the light of your thesis statement.Assignment Expectations
Module 5 – SLP
Assignment
In this module, we will be completing our strategic toolkit by researching sources of information about these components as they relate specifically to the Kraft Foods Group.
Your assignment is to find information about the following organizational components discussed in this module as they relate specifically to the Kraft Foods Group. Do your best not to speculate but to find factual information concerning the topical areas below. The following list of questions may help you focus your search (source: Obtaining information about organizational components critical to implementation [adapted from Aaker, D.A. (2001) Developing Business Strategies. Wiley]):
Structure
- What is the organization’s structure? How decentralized or centralized is it?
- What are the lines of authority and communication?
- What are the roles of teams, committees, and task forces?
Systems
- How are budgets set?
- How is planning done?
- What measures are used to evaluate performance?
People
- What are the skills, experience, and knowledge of the firm’s employees?
- What is their depth and quality?
- What are their attitudes about the company and their jobs?
Culture
- What are the company’s values and are they widely shared and accepted by employees?
- What are the key norms of behavior?
- What are some significant symbols?
- What is the dominant management style?
- How is conflict resolved?
Keys to the Assignment
- Step One: Review the questions above and do some research to see where you could find answers to them. You may not be able to answer all of the questions, but try to find at least one source per component that addresses most of its characteristics.
- Step Two: Create a 3- to 4-page list of sources and indicate what information each one provides for each component. Evaluate each source in terms of its objectivity, reliability, and truthfulness.
Assignment ExpectationsYour paper will be evaluated on the following points:
- Precision – Does the paper address the question(s) or task(s)? Breadth – Is the full breadth of the subject (i.e., the Keys to the Assignment) addressed? Depth – Does the paper address the topic in sufficient depth and include the Background reading and other Background resources as references? Critical thinking – Is the subject thought about critically, that is, accurately, logically, relevantly, and precisely?Clarity – Is the writing clear and are the concepts articulated properly? Are paraphrasing and synthesis of concepts the primary means of responding to the questions or are points conveyed through excessive use of quotations? Organization – Is the paper well written? Are the grammar, spelling, and vocabulary appropriate for graduate-level work? Are headings included in all papers longer than two pages?Referencing (citations and references) – Does the paper include citations and quotation marks where appropriate? Are the references from the Background reading and assignment present and properly cited? Are all the references listed in the bibliography present and referred to via citation? Application – Are the concepts of the module appropriately applied to the subject?
Tips and Suggestions
Module 6 – Reflective Essay
Integration and Reflection
Reflective Essay
Prepare a Reflective Essay in which you address each of the following items:
1. Describe how you improved your knowledge, skills, abilities, and yourself in this session through this course.
2. Evaluate the work you did during the session for the class and explain ways you could have performed better.
3. Identify topics you did not understand or successfully implement, and suggest how to improve the course material on those topics.
4. Think of ways to measure the future effects of what you have learned in this course or your future progress/improvement.
5. State whether you achieved the course outcomes (listed on the Module 6 Home page and course Syllabus page).
This Reflective Essay is a required course component (although it is not part of your final grade). Upload the essay upon completion.