Strategic Managements

Question: Writea strategic change management report of Nestle Company. Answer: 1.0 Introductions 1.1 Authorization and Purpose The purpose of this assignment is to develop a strategic change management report of Nestle Company. The report will apply relevant theoretical theories to explain different strategies taken by Nestle to grow as a world class organization worldwide. It will describe in detail the various components of strategic management such as industry analysis by PEST and Porters five force tool, cultural and leadership influences, a strategic process taken by the organization to develop its product and services, the organization structure and how they manage change. It will also highlight the strategic innovation initiative, corporate level strategy, and business level strategy. Therefore, the assignment will be a summary about Nestl's external and internal business environment. It will be useful study for new entrants venturing into food and business industry and starting their own line of products. 1.2 Limitation Though the focus of this assignment is mostly on Nestle company, some information will be given for general organizations too where there are similar ways of strategic management. 1.3 Scope This detailed report has immense scope for management student and those with an interest in marketing to understand the dynamic of work in a top organization like Nestle. It will help them get an understanding about how companies put efforts to gain a competitive advantage in the market despite the presence of innumerous competitors. 2.0 Organization name and background 2.1 History The foundation of Nestle was laid in 1905 by the merger of Anglo-Swiss Milk Company, and it was established in 1866 by George Page and Charles Page. The company has grown extensively since First and Second World War by expanding its offerings from condensed milk to infant formula products. Nestle is listed in Six Swiss Exchange, and it is a part of Swiss Market Index (Cardello and Wolfson 2014). 2.2 Size Nestle is one of the largest Swiss transnational food and beverage company in the world according to revenues earned. It has a large variety of products ranging from baby food, breakfast items, cereals, confectionery, dairy products, frozen food and many other snacks. Many famous brands of Nestle like Kit Kat, Maggi, Nespresso, Nescafe and many others has annual sales of more than one billion. According to most admired company list of Fortune 500 in 2015, Nestle Company was now ranked in 38the position. Nestle company has more than 450 factories operating in about 200 countries worldwide, and it has given employment to more than 4 lakh people. It is also the principal shareholder of the leading cosmetic brand, L'Oreal (Anderson 2014). 2.3 Location It is headquartered in Vevey, Vaud, Switzerland. It is the leading nutrition, health and wellness Company. They are now celebrating 150 years of Good Food, Good life. The Company has established its branch in principal countries of the world. 3.0 Industry context 3.1 Pest analysis Pest analysis is strategic management tool used by a company to identify threat and opportunities in business. It is an external analysis of company when doing marketing research giving detail about political, economic, social and technological factors about Company (Modi 2013). The following are the analysis of Nestle Company: Political- Nestle has made necessary changes to enhance their product and through their range of food products their focus is to create a healthier population. Nestle Company supports Government's effort to promote healthier diet and lifestyles for people globally. Through the introduction of healthier food option, they want to remove disease like obesity, diabetes, etc (Petrukevi ius and Granskas 2014). Economic- Nestle has excelled economically as it has developed its own brand reputation and it is renowned as fast moving sector in the world. It is the major job provider and has given employment opportunity to many people. They are also economic earning source for the local outlet. Thus, they have promoted economic and social responsibility of the community. They have provided the economy with a supply of quality of food product and sustained the growth of the economy. They have also brought improvement in agricultural production and economic status of farmers (Manzaneque Corona 2014). Social: Nestle has tried to decrease carbon emission from their products and minimized water withdrawal in the last decade. Their main aim is to improve a quality of consumers lives by offering healthier food and beverage choices. Their uniqueness lies in the fact that through their product they have created value both for shareholders and society. Shared value is achieved when they maintain their own business principles as well as protect the environment during the process (Pfitzer et al., 2013). Technology: Before launching any product, Nestle undergoes strict quality check and RD process. They constantly renovate their product using RD expertise. They have excelled in technological aspects by keeping the highly developed manufacturing unit; maintain best RD capability in food and nutrition and international quality and safety standards (Babatunde and Adebisi 2012). 3.2 Five force analysis Porters five force model will discuss the uniqueness and productivity of Nestle. These are as follows: The threat of new entrants: Food processing is a vast sector, so there is major chance of new companies entering the market and creating their own brand image. Nestle has faced stiff competition due to new entrants in the market, but still they have retained their market share. Many new entrants enter the market every year, but Nestle has been a leader in food market for centuries. Nestle has maintained its consistency, and so there is the negligible threat of new entrants for them (Trieloff and Buys 2013). The threat of substitute goods: Availability of substitute is higher in product marketing, and it leads to heightened competition in food industry sector. To survive this threat, Nestle has to renovate its product regularly to retain their market share. Some unique innovation strategy taken by Nestle includes introducing consciousness and wellness factor in its entire product. Such initiative will help Nestle to stay ahead of other substitutes (Babatunde and Adebisi 2012). Bargaining power of suppliers: As Nestle has offered quality in all its food products, it has helped them build the strong relation with their suppliers. This is possible only because of massive buying power and continuous quality improvement. Bargaining power of consumers: This is a dominant factor to judge any companies position in the market. Despite the availability of substitute products, Nestle has offered influential choices in its products to make it successful among its users. Nestle understands the importance of satisfying customers which become evident by their health and wellness programs for the new product offering (Horn et al. 2015). Competitive rivalry: Healthy competition is beneficial for the company in the long run. Though Nestle is a leading food processing company, still they have major rivals like Kraft Foods and Groupe Danone. Every company spends a lot on marketing campaigns. This is advantageous for customers as they continuously get improved product quality and better choices (Keegan and Campus 2016). 3.3 Industry life cycle Nestls focus is not only on healthier and tastier food, but also in improving environment impacts of their product from manufacturing level to customer reach. They have used Life Cycle Assessment (LCA) to understand the environmental value of their product throughout the production chain. LCA seeks to preserve water, use natural resource efficiently, reducing air pollution and waste, conserving biodiversity and adapting to climate change. A few example of LCA in Nestls product includes the following: They have introduced ready to feed plastic bottle for infants in Germany instead of glass bottles. This has helped to reduce greenhouse gas (GHG) emission and also improved air quality. The introduction of Nescafe refill pack in Italy instead of glass jar has contributed to reducing resource consumption and GHG emission (Adams et al. 2015). 4.0Organizational Context 4.1 Leadership influence Nestle has grown from a small town operating company to world leading food brand. They have achieved this through exceptional leadership principles which expect every employee to work according to Nestls culture and values. They are committed to the concept of shared value. They demand continuous improvement in each employee's performance so that companies performance gets enhanced. They have a code of business and conduct in which there are non-negotiable standards of employee behavior in key areas. Their extraordinary leadership style has led them to success, develop as a team, bring good results and compete and connect with the external environment. All these factors have lead to the creation of shared value for both shareholders as well as society (Nestle 2013). 4.2 cultural analysis Nestle beliefs, customs, and practices have benefited society in many ways. One example is the Cocoa Plan launched by Nestle. It was introduced to facilitate African cocoa farmers and took advantage of increasing market price by increasing their productivity. It had a very positive impact on society, and it minimized problems like child labor and lack of access to health and education. For example educating farmers on farming methods not only improved cocoa productivity but also made them aware of disease and prevention methods (Mbugua 2012). 5.0 Strategy formation 5.1 Strategy process Nestls objectives are to be renowned as leading company in health, nutrition and wellness. Their slogan Good Food, Good Life' sums up their targets. This strategy formulation process takes place after analysis of current situation in the world and then identifying future objectives and missions for the company. Once the vision is defined, ones can formulate a detailed strategy. For example, Nestle objectives are clear in the above statement, so to achieve that they will plan and implement various strategies in alignment with their mission (Areal et al. 2016). 5.2 Intended strategies Nestle believes that trust is built over a long period by delivering on quality and promise. Their corporate ambition is Good Food Good Life and for this their intentions is to create alignment with their employees with their strategic priorities, so that it accelerates chances of fulfillment of objectives. They want from their people exceptional performance and the inspiration to build for the future wellness of the company. They seek to achieve their goal through short-term entrepreneurial action and leadership skill. They want to build trust by satisfying the expectation of consumers, shareholders, and community. They believe in creating shared value. For better performance in the future, they are investing a lot in future to sustain their people, technology, brand and R D. So they intend to meet today's need without compromising on future needs and create a great return for their shareholders (FitzRoy et al. 2012). 5.3 Emergent strategies Keeping in line with their objectives, their emergent strategy is to renovate their food and beverage portfolio consistently. The researcher of Nestle wants to explore nutritional therapy to maintain the health of the community. Their current strategy is to overcome all the challenges to global nutrition, health, and wellness and build an influential partnership with policymakers, stakeholders and leaders to have a positive impact on society. Through their product, they empower informed the decision regarding their food choices. They have also proposed a science based education programme "Start Healthy and Stay Healthy". Through this, they intend to educate parent about the nutritional needs required for a child during first 1000 days of life. There is Nestle Healthy Kids Programme to promote a healthy lifestyle in children through nutrition teaching and physical activity. They proposed to reduce an amount of salt, sugar, and saturated fats in their product as well as maintain consum er preference. For the better informed decision of consumers, they have improved labeling and printing guidelines daily amount in their product. Their strategic roadmap guides the organization forward towards their goals and gains competitive advantage in the process (Schlegelmilch 2016). 6.0 Strategic change 6.1 Business model There are eight elements of business models. These are as follows: Value proposition: Nestle has been creating value for its customers for many years. Due to the positive image and value creation, customers always rely on the products of Nestle. Revenue model: Nestle has their own revenue model, and they are generating enough revenue to pay back returns to investors by selling a different range of food products. Market opportunity: the Different market has a different market niche. As Nestle is dealing with daily consumed food products, they have the excellent market opportunity. Competitive environment: Nestle company has recognition worldwide, so competitors are trying to look for its weak points. Example Coca Cola is an active competitor as they had launched Aquafina against Nestle Water (Matzler et al. 2013). Competitive advantage: As Nestle has maintained its brand value since many years, they enjoy a competitive edge over other customers. They have constantly evolved and adapted to changes in the world market. Their core business principles represent fairness, honesty and concern for people. Market Strategy: As mentioned above, Nestles market strategy is focused on maintaining health wellness and nutrition through their product. They have guaranteed quality through their product and maintained safety of consumers as well as their employees. They have focused on building good relationship both with consumers as well as shareholders. They have plan for implementation of international code of marketing for breast milk substitutes. Organizational development: Through its marketing strategies, Nestle has efficiently maintained their reputation and developed the organization. Team Management Through influential leadership, Nestle has ensured that their employee works according to their values and principles and enhance their performance (Amit and Zott 2012). 6.2 Organization Structure Managing directors come in the top level of the organization structure of Nestle. Next level consists of the following: Marketing and sales manager ( National Sales Manager and goods manager work under them) Technical Manager- (plant manager and corporate manager) Supply chain manager (dealing with distribution service, operation and demand and supply planning). Finance Control Manager Corporate HR Manager Corporate quality assurance manager (Rezaeegiglo et al. 2014). 6.3 Magnitude of change Nestle operates in more than 100 countries, and it has to deal with diversity challenges in the international marketing plan. The result was that each business unit was not linked to a computer system from its headquarter. So it could not find ways to track performance at each level. This ineffective information system meant Nestle Company could dominate over its buying power and bargain with suppliers for better deals. So the operating cost was high (Harmon 2014). 6.4 Pace of change In response to the issue, Nestle management is planning to launch a standardized information system through which they could connect to 500 units worldwide. To facilitate this change quickly, they have involved top business executives and information system professionals for the project. The pace of change suffered initially due to employee resistance as they were not communicated about the need to change. Once this problem was addressed, the change was addressed quickly (Adams et al. 2015). 7.0 Strategic Innovation 7.1 Strategizing The vice president of Innovative Partnership at Nestle, Helmut Traitler has promoted open innovation in the company in the form of reorienting strategies with the view of sharing is winning'. Open innovation occurs when any company is ready for intellectual and technological openness, and innovative ideas move across the organization. In Nestle Company, innovation was brought only in packaging, and it mostly depended on its internal RD for innovative plans. But now they are strategizing on removing the past trend and expand its global partnership with the slogan sharing is winning. Their target is to achieve additional $5 billion growth each year. During economic crisis also, they also want to spend more than 2 billion dollars on RD every year (Deschamps and Nelson 2014). 7.2 Entrepreneuring Active entrepreneurial action drives Nestle's strategic innovation. Persons like Helmut Traitler have played a role in shifting their ideas to embrace open innovation. An entrepreneur in organization researched on opportunities and source of innovation and identified a level of change needed in the organization. They have the expertise to apply correct principles successful innovation (Rhaume and Gardoni 2016). 7.3 Venturing Venturing is related to what type of changes any entrepreneur want in the organization and how they go about to fulfill those ventures. At Nestle, the entrepreneurs stressed on achieving results and success as fast as possible. Traitler emphasized the need of developing exceptional internal RD facility as they share their resources with external partners during project development. The chance of failure or success depends on authenticity of organization (Martinez 2013) 7.4 Alignment The enormous size of Nestle is both an advantage and hurdle for the company to implement the innovative strategy. The company has to be aligned to its principles and values to meet its strategic objectives. Since there are about more than 2.5 lakh employees at Nestle, knowing each of them might be a problem. Companies often suffer due to miscommunication, but leaders can play a role in overcoming this issue (Bigliardi and Galati 2013). 8.0 Missioning and visioning 8.1 Purpose Nestle want to truly represent their slogan of Good Food, Good Life. They want to be renowned as a company promoting health, nutrition and wellness through their products. Their focus is on satisfying their customers by giving best of products range. Their purpose is to develop product keeping in mind customers preference and taste. They also want to promote environmental well-being by reducing carbon gas and other emissions from their product (Moura et al. 2015). 8.2 Beliefs Their belief is that they have given the quality product to their consumers for many years, and so they can retain the trust of customers if they consistently maintain their brand image. They intend to serve their customers better by offering a new range of products and improve existing products. The logo of Nestle is very apt according to its slogans. Henri Nestle chose the logo of a birds nest with a mother feeding her young baby (Gandini et al. 2014). 8.3 Values The values and beliefs of Nestle can be understood by its logo of a mother feeding a young bird. Therefore, the logo represents the core value of Nestle, which are care, nutrition, family values, promoting healthy growth, safety, and comfort. Therefore, they are committed to their values by providing quality and nutrition in their food products. Nestle has maintained its commitment toward health and wellness throughout the years and helped consumers to live longer and productive life irrespective of age, gender or socio-economic status. Three essential ingredient of their success includes their employees, their developmental strategies, and commitment to quality. Their dedicated employees are their source of assets and strength, and they give them continuous professional development (Shankar and Perumal 2014). 8.4 SMART objectives Nestles major goal was to be recognized as a world leader in nutrition, health, and wellness. They wanted to be trusted by its stakeholders and excel in their financial performance in the food processing industry. Therefore above facts suggest that Nestle is very specific about its priorities of creating shared values for both shareholders and the community. They also want to implement these objectives after compliance with culture, values, and principles of Nestle. This will help them to develop a sufficient and sustainable plan (Ng and Dunford 2013). Their goal is very specific, and it can be measured by comparing the annual revenue of Nestle with other companies every year. They feel that their objectives are achievable as they have significant resources in the form of 2,80,000 employees worldwide and they have maintained their reputation in nutrition industry till now. The times needed to achieve any strategy depend on different plans". For example "The Nescafe Plan" aim was to complete the project by 2020. It is a global initiative by Nestle for promoting responsible farming, production, and consumption of coffee. They want to meet increasing demand for coffee, but they may face challenges like the low yield of coffee, fluctuating prices, coffee farming being challenged by alternative crops and stiff competition for raw materials (Luna-Reyes et al., 2016). Their plan will help in responsible farming in four ways: Training: Nestle wants to train farmers on better farming techniques and giving proper guidelines. Since the inception of the Plan in 2010, till now they have trained about two lakh farmers. Connecting with farmers: Nestle wants to collect green coffee locally and improve it at the farm level. Connecting with farmers, they want to maintain sustainability standard of coffee. This initiative helped them produce 1,80,000 tonnes of coffee by 2013. They also want to supply coffee in compliance with Sustainable Agricultural Network Principles by 2020. Maintaining future of coffee farms: Nestle has invested in the improvement of coffee trees through RD centers in France. The intention behind this is to give the farmers the feeling that coffee growing is an attractive means of earning livelihood (Bee et al. 2015). 9.0 Business level strategy 9.1 Product Nestles business level strategy is guided by the company's principles and values. They have constantly renovated their products and maintained a balance between it supply and product lines. They never compromise on quality to achieve short-term objectives. They strive to give the best and unique food products to its consumers. Their aim is to drive their business based on human values and health. Through their scope of operations in different countries, they want to commit to health and well-being of people. They have differentiation strategy to minimize the complexity of supply chain. Nestle now has the exclusive range of about 2000 brands. All the brands are supplied according to the target market. The range of products includes coffee, water, infant foods, cereals, frozen foods, beverages, confectionery, seasonings and many other things. Some important brands like Nestle Nuggets, Nestle corn flakes, Acti-V, Aqua-mineral, Cerelac, Neslac, etc (Hrebiniak 2013). 9.2 Value chain Nestle has developed their business level strategy in a span of 140 years. Nestle first successful product was infant cereal Farine Lactee'. Since then they have built their business with the belief to attain success in the long-term. They want to follow the legal requirement in the food industry and maintain sustainable activity for society. Therefore, they want not just value for their money, but they also want to create significant value for the community. They call this intention as creating shared value. They ensure that all employees follow update version of Corporate Business Principles, and they provide training to improve consumer's adaptability to the principles. There might be comprehensive modular training. As Nestle is operating in many countries worldwide, they ensure that they market their product according to local legislation and cultural practices of selected country. The features of their value chain include: Promoting nutrition, health, and wellness through their products. Nestle give assurance of quality and product safety throughout their world by maintaining a high standard of product. They have efficiently communicated with consumers to provide them with the right to informed choices in their product. Accurate labeling and nutritional information provide users to make their own healthy choices. They have maintained good human rights and labor practices by supporting United Nations Global Compact principles. Nestles success is dependent on their influence leadership ad skillful workers. There is a good range of respect and dignity between them. They appoint competent people and provide equal opportunities for development of employees skills They promote safety and health at work by giving a minimum chance of an accident at production unit. They also commit to sustainable business practices and utilize natural resources efficiently (Bee et al. 2015). 9.3 Resources Proper utilization of the resource is vital for the success of one's business. Any organization has two types of resource-one is tangible, and other is intangible. Tangible assets are company's visible assets, and intangible resources are companies definite asset accumulated through their history. Any competitors can identify tangible resource of other, but they cannot track intangible assets of competitors in the market. For example, one cannot imitate particular organization's financial, technological, physical and organizational assets. Conventional intangible assets include target consumers, innovation in company and reputation or brand image. Nestle has an enormous financial resource regarding total revenue generated, operating income, profit and total assets. Its unique organization resource includes their governing body of stakeholders, chairperson and directors of the company, its manufacturing unit worldwide and exclusive product technology centers. It physical resources are its variety of products such as baby food, health care nutrition, confectionery, water, pharmaceuticals, etc. More than three lakh employees of Nestle are its valuable intangible resource. It has other innovative resources in the form of world class science and technological resource to build its unique range of excellent healthy product. Reputational resource means it efforts by consumers to meet customers demands and expense of research activity (Nestle 2016). 10.0 Corporate-Level Strategy: 10.1 Vertical and Horizontal Integration Depending on much analysis, the conclusion is that the growth of Nestle came in the direction of Horizontal Integration. The reason why the growth of Nestle is termed as horizontal is because of its expansion in the food industry by merging with the well knew food processing industry referred to as the Anglo-Swiss Condensed Milk. This merger was very helpful for Nestle as it helped in the expansion of their products and made many resources available to this company. The horizontal integration extended to other countries also such as Spain, U.S, and Germany. Initially, the growth expanded internally within the organization, however, later it spread to the whole of Brazil. The company merged with Maggi. This merger was an indication that the corporation shall soon grow more within the food industry (Sanchez Rodrigues et al. 2015). 10.2 Diversification The diversification of Nestle started at the beginning of the 20th century. In the year 1904, the introduction of chocolate rights gave rise to new products under the Peter and Nestle brands. Like the competitors, Nestle struggled to boost sales in the European Market. It is a rumor that Nestle agreed to pay 500 million pounds to acquire Prometheus Laboratories. This is not the first acquisition of Nestle. Nestle has acquired many companies that were regarded as a leader in health science nutrition. It was Nestl's aim to become a leader in the coffee, baby food, and powdered milk products. Hence, Nestle focuses on increasing the strategic growth of the company. Health care markets are expected to grow rapidly than other food market products. Developing nations have people that are old. Hence, such kind of consumers is prepared to spend a considerable amount of money in health and nutrition. The profit margins of health care markets are also very high as compared to food products. The reason behind this is that people have become more careful about their health than any other thing, and that is why the pharmaceutical industry has become very popular (Kang 2013). 10.3 Strategic Business Units Since the foundation of Nestle in the year 1866, it has grown as the worlds largest market food company. This is an indication that shows that the strategic market of Nestle is already very strong. Nestle is organized into seven different global strategic units and engages in the overall strategic business development. Equivalent to this structure, Nestle is organized into five major geographical zones such as America and Europe. The regional development of Nestle is proof that it has an excellent strategic business program that is responsible for the overall development of the strategic business units of Nestle. However, as a universal company, Nestle faces many challenges and problems. The challenges may vary from environmental, social and economic issues. However, Nestle has the responsibility of operating decisions in many local units. This means that Nestle has a certain degree of independence relating to price distribution and marketing (Appiah-Adu and Amoako 2016). 11.0 Conclusion The whole report summarizes the strategic management process of Nestle Company. It has given valuable insights into what factors have contributed to the success of Nestle as the global brand. It has given the idea of how companies can build its reputation globally and also sustain it despite the presence of various competitors in the market. Through the industrial analysis of Nestle, we can get an idea about factors that influence its business and how they have overcome hurdles in their business. It has analyzed how different kinds of threats faced by Nestle in its history of marketing. The report has given information about influential leadership style and strategies taken by leaders to develop employees and enhance their product quality. It has also explained the strategic level of change in the company and how the company is driven innovative changes. The report has mentioned about the role of entrepreneurs in implementing innovative strategies and how they strive to keep it align ed with company's principles and values. The report on Nestle has given clarity about their specific mission and purpose and their SMART objectives. It has described their range of products and their way of creating shared values. Lastly, corporate level strategies highlighted how Nestle has expanded its business throughout the world and maintained their brand image since 140 years. It highlighted how they used corporate level strategies to expand its business units and diversified its business by operating in different countries and offering world class products. 12.0 Recommendation The report on the strategic management of Nestle was based on different management theories. Though Nestle has excelled in the successful implementation of their strategies, other companies might find it too difficult to bring management theories in to real world practice. Nestle constantly maintained uniqueness and quality of their products to achieve competitive advantage in the food and beverage industry. So the success of any company will depend on the culture of the organization and their execution skills. If any business wants to create a niche in their society, they will have to distinguish their products from others in the market and create a value for their product by advances in technological and other aspects. Nestle is a trendsetter in the food industry and new entrants entering this industry may take lessons from Nestles strategic management activities. This will help them to excel in their business and create their own niche in market full of competitors. Reference Adams, A., Schenker, U. and Loerincik, Y., 2015. Life Cycle Management as a Way to Operationalize the Creating Shared Value Concept in the Food and Beverage Industry: A Case Study. InLife Cycle Management(pp. 341-348). Springer Netherlands. Adams, A., Schenker, U. and Loerincik, Y., 2015. Life Cycle Management as a Way to Operationalize the Creating Shared Value Concept in the Food and Beverage Industry: A Case Study. InLife Cycle Management(pp. 341-348). Springer Netherlands. Amit, R. and Zott, C., 2012. 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