Nourishing Lives Presentation

Here is a powerpoint presentation on General Mills. The link is below:

http://www.authorstream.com/Presentation/lrstdler-1466258-nourishing-lives-company-powerpoint/

Creating New Ventures

General Mills ventures focuses on innovating the company through a venture capital fund. The ventures was created to accelerate the pace of innovation and building strategic capabilities. The venture capital fund includes digital media, food technology, and packaged food brands.

• The Emerging Packaged Food Brands is trying to satisfy consumers’ health and wellness needs. General Mills uses this to have a unique, compelling and authentic brand, and a great tasting product.
• The Food Technology is done through the G-WIN project trying to form food technology partnership opportunities.
• The Digital Media is trying to show, discover, and share new ways to connect General Mills brands with consumers through emerging digital marketing technologies.

The final venture is innovation intersection where General Mills is reinventing innovation and connecting possibilities and solutions to find incredible opportunities.


http://www.generalmills.com/en/Company/Innovation/GeneralMillsVentures.aspx
http://www.generalmills.com/~/media/Files/Innovation/innovation_brochure_2011.ashx

Structuring of the Company

The organizational structure of a company is a determinant of whether a company will succeed. Every company is different and each structure will vary. General Mills mainly works in a cross-functional structure, meaning that there are people from various departments working together. This helps the company to respond to competitive pressures, which includes market, costs and technology. The challenge is to balance external and internal factors to ensure a smooth running company. With the leadership of General Mills' CEO, Kendall Powell, they are able to make this possible.

http://phx.corporate-ir.net/phoenix.zhtml?c=74271&p=irol-govhighlights
http://www.cogmap.com/outline/general-mills?ver=16&vt=0
http://www.chinaplus3.pitt.edu/pdf/Purchasing_Structures082003.pdf

Acquiring New Ownership

In recent months, General Mills has announced the acquisition of a natural food snack company that has been growing rather rapidly named Food Should Taste Good. This acquisition will be apart of General Mills' natural and organic products called Small Planet Foods. The division includes brands such as LARABAR, Cascadian Farm, and Muir Glen. The president of Smart Planet Foods, Michele Meyer, says “This acquisition further positions us for continued growth with a great new brand in an entirely new category in our natural and organic business.” She also states that “Food Should Taste Good is a strong brand with high-quality products and tremendous potential – and we are fully committed to maintaining the great-tasting, all-natural Food Should Taste Good snacks that consumers love.” Food Should Taste Good snacks are sold at club, natural, and traditional retailers in the U.S. and Canada and should continue to do so now that it has been acquired by General Mills.

http://www.generalmills.com/Media/NewsReleases/Library/2012/February/food_taste_good_2_29.aspx

Creating Alliances

General Mills takes part in two joint ventures. The ventures are done internationally, with both Cereal Partners and Häagen-Dazs. The sales balance out to be $1.2 billion is Fiscal 2011, as shown below.

Cereal Partners Worldwide is a partnership with Nestlé started in 1991 and markets cereals in about 130 countries, which in sales makes about 85 percent. The combination of Nestlé's worldwide presence and General Mills' expertise, make this partnership extremely successful.

Häagen-Dazs is a partnership done in Japan operating the ice cream business and makes up the final 15 percent of sales. It markets to consumers through a series of retail outlets and Häagen-Dazs shops. General Mills is also partnered in international Häagen-Dazs joint ventures with the two largest being Suntory and Takanashi Dairy in Japan.

http://www.generalmills.com/en/Company/Businesses/International/Joint_ventures.aspx

Seeking International Expansion

General Mills has already had plenty of success outside of the United States. Currently, the company is selling its products in more than 100 countries and has facilities in more than 30 countries.

The company has continuously planned to expand its business internationally. The international segment of the business is the fastest growing segments and is expected to have large increases. Its focus in 2008 was on Haagen-Dazs premium ice cream, which was a popular hit in about 60 countries all over the world. Emphasis was also placed on healthy snacks and Old El Paso brand for cuisines, such as Mexican food. Both domestically and internationally, the company planned on introducing over 300 items as well as increase its marketing.

http://www.generalmills.com/Company/Countries.aspx

http://www.usatoday.com/money/economy/2008-09-22-179087764_x.htm

Corporate Strategy

General Mills is a successful company that uses several different tactics and strategies in order to become efficient. As a result of the company focusing on the food industry, General Mills has a related diversification. Also, the company has both a geographic and horizontal scope. Horizontally, the company has branched out into several different segments in the food industry, such as cereals, dough, pasta, soup, ice cream, snacks, etc. Geographically, General Mills products can be seen in places such as Memphis, Seattle, Tucson, Brisbane, Shanghai, Brussels, etc. The company as a whole uses a combination of strategies in order to continue striving and be successful.

http://www.generalmills.com/en/Brands.aspx

Revolutionary Strategies

The new products constantly being produced by General Mills comes from what the consumer want. As mentioned before, this is one of the main focuses for constructing a strategy. General Mills is constantly innovating its products to ensure the consumer have their needs met. Jeff Bellairs, the director of the G-WIN program, states " We are getting away from looking at the market as a homogeneous mix. Rather we are looking at different segments and niches. We see benefits across taste, health and convenience." The successes that have arisen from this strategy includes Yoplait Smoothie, Pillsbury Savorings and Bread Bowl Bites, and Betty Crocker Super Moist cake mix. This strategy is not about creating new products, but to work with others to effectively create innovations in the products already existing.

 http://www.foodprocessing.com/articles/2009/rdteam-generalmills.html

Differentiation: Strategically Positioning the Company

General Mills has always had a strong concentration of its strategy. From the beginning, the company has always tried to innovation with its products, attractive marketing, and consumer understanding. Several years ago, General Mills created a program, called General Mills Worldwide Innovation Network (G-WIN), in order to have an open innovation strategy. The purpose of this program was to have an internal and external collaboration to bring together the best ideas that complements the segments that are already existing.

Jeff Bellairs, the director of G-WIN has seven lessons learned in building an open innovation program, and they are:

• Know what you want
• It's about connectedness
• Tear down the wall
• Smart Scientists aren't enough
• Score early
• On-board the boss
• Stick with it

This open innovation strategy was implemented in order not to bring about ideas from people outside of the company, but to start to bring internal people together.


http://www.foodprocessing.com/articles/2009/rdteam-generalmills.html

Threats and Opportunities

As mentioned before, General Mills is a large growing industry, which only means that along with strengths and weaknesses, the company has a number of threats and opportunities. Their threats include:

• Commodity price increases
• Private label growth
• Kellogg's
• Erosion of market
• Close ties to Wal-Mart

Their opportunities, in contrast are numerous in comparison to their threats, and they include:

• Globalization
• Rising demand for cereal
• Higher penetration with smaller retailer customers in the U.S.
• Growing foodservice sector
• Growing health consciousness 
• Steady growth in savory snacks

As a whole, General Mills has had several years under their belts full of unexpected surprises and impressive results, in addition to adding profit to their shareholders. Although the company is able to work in a mature industry with limited potential for growth, their ability to seek innovation and improvements is quite impressive. In order to continue to be successful, General Mills should pursue the opportunities presented, while keeping caution to the threats that arise and project themselves as challenges. 

http://www.wikiswot.com/SWOT/3_Consumer_Packaged_Goods_(CPGs)/General_Mills.html

Resources and Capabilities

As a result of General Mills growing, leading, and becoming considerably profitable, the company has a large number of resources and capabilities. Their resources include:

• Baker's Flour
• Pillsbury Bakery
• Bakeries and Foodservice
• Eat Better America
• Tablespoon.com
• Bell Institute of Health and Nutrition

Their capabilities include:

• Category Insights
• Shopper: Year in the Life
• Shopper Insights
• GEOS
• Efficient Replenishment 
• Retail Sales Support

These aspects help General Mills with their competitive advantage by means of accessing information and tools in order to drive category growth, generate shopper loyalty, understand shopper lifestyles, values and needs, optimize solutions. deliver supply chain efficiency, and in-store retail sales assistance opportunities.

http://www.generalmills.com/Company/our_web_sites/Resources_websites.aspx

http://leadingprofitablegrowth.generalmills.com/capabilities/default.aspx

Mission and Vision

General Mills is a company that has products used by millions of people all over the world. Their mission is to nourish lives, communities, and the future. General Mills' mission statement is "To make lives healthier, easier and richer. General Mills is Nourishing Lives." There are three aspects to this mission statement that are broken down by the company.

• General Mills makes life healthier  by helping people manage their weight through products contributing to a heart healthy diet, appropriate whole gain intake and giving the important nutrients.
• They make lives easier  with on-the-go products with convenient packaging and meals.
• They make lives richer  with products that help create special moments with family and friends.

General Mills' mission can be done through the company's values. The values are stated below:

Both General Mills' mission statement and values are a huge contribution to the company's competitive advantage. Having the company's focus on the consumer builds trust and a respectful reputation that is seen throughout the world. 

http://www.generalmills.com/Company.aspx

A Look into General Mills

General Mills is one of the largest food companies in the world known for their incredible quality. The company is marketed in more than 100 countries and employs about 35,000 people half of which reside outside of the United States. Their sales are categorized into three core business segments: U.S. retail, International, and Bakeries & Foodservice.

The brands are in the first and second market positions, starting with their number one selling flour in the United States. Their brands such as Pillsbury, Green Giant, Cheerios, and Betty Crocker are known around the world for their products used by consumers for their breakfast, lunch, dinner, snacks and dessert needs.

http://www.generalmills.com/~/media/Files/2011_corporate_brochure.ashx