The Values and Key Objectives - Cadbury Dairy Milk

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Identify the mission, values and key objectives of the chosen organization and assess the influence of stake holders

Vision

Vision of Cadbury Dairy Milk

"Working together to create brands people love"

A vision statement reveals the ideal image of the organization in the future. Vision is an important point in corporate strategic plan and is bound to be on time. It communicates both the value and purpose of organization. Vision is intended to give directions to employees about how they should behave and inspires them to give their best. A vision when shared with customers can help shape a customers understanding of why they should work with the organization.

Mission

Cadbury Dairy Milk mission statement

"Says simply, 'Cadbury means quality'; this is our promise. Our reputation is to built upon quality; our commitment to continuous improvement will ensure that our promise"

Mission statement defines an organizations primary objectives and its key purpose. Its prime function is internal – to define the key measure or measures of the organization’s success – and its prime listeners are the leadership team and stockholders. Mission statements are the starting points of an organization's strategic planning and goal setting process. They try to assure and focus the attention on both the external and internal stakeholders to understand and know what organization is trying to accomplish.

Key Objectives

Cadbury Dairy Milk main aim and objective is to become world best and biggest confectionery company. The company is really keen to perform better than the competitors. Cadbury Dairy Milk is among the leading companies of the world.

  • Objectives are the ends toward which activity is aimed-they are the end results to ward which activity is aimed.
  • “Objectives are goals, aims or purposes that organizations wish over varying periods of time”-McFarland
  • “A managerial objective is the intended goal that prescribes definite scope and suggests direction to the planning efforts of a manger”-Terry and Franklin

Stakeholders

Their Main Interests/Objectives/Goals in an Organization

Shareholders

Growth in their profits, dividends & price growth of their shares

Employees

Salary & wages, secured job, motivation & satisfaction of the job

Customers

Quality products, availability of the product, to obtain good value for money& customer care

Community

Environmental effects, job opportunities & the business`s impact on its surroundings

Directors & managers

Salary, job satisfaction, to retain power &to increase their status & power in the organization from business growth

Banks & building societies

Interest, debt to be collected & credit rating

Government

Jobs, legal operation of the organization & collection of tax

Suppliers

Quick payments, increase in purchase & long term contracts

(P2) Evaluate the extent to which an organization achieves the objectives of three stakeholders

Stakeholders of an Organization

Stakeholders are group of people who are directly interested in the activities of the business. Different stakeholders of an organization are shown in the picture.

Stakeholders

Their Main Interests/Objectives/Goals in an Organization

Employees

Salary & wages, secured job, motivation & satisfaction of the job

Customers

Quality products, availability of the product, to obtain good value for money& customer care

Community

Environmental effects, job opportunities & the business`s impact on its surroundings

Meeting the objectives of its Stakeholders

Cadbury is one of the world’s largest confectionary manufacturers. Cadbury believes that good ethics and good business go together naturally to produce the best long-term results for all the stakeholders. Its success is sustained by understanding and responding to the needs of consumers, customers, suppliers, colleagues and citizens.

Employees

Cadbury identifies the abilities of its employees and then these abilities are further enhanced and developed by offering them on-the-job assignments, executive education and coaching. Part of Cadbury’s line managers' responsibility is to identify the training needs of his or her direct reports, match those needs to training and development opportunities and ensure that learning is transferred back into the workplace.

Consumers

Cadbury is providing high quality, tasty products with reasonable prices and it also deals directly with consumers and has significant resources in the business so to respond to customer's complaints and questions.

Community

Cadbury's Purple Goes Green project was launched back in July 2007 setting a vision for the company to deal with change in climate. What they did was they intended to minimize global environmental footprints by reducing excess packaging, energy use and managing water use.

C:\Users\Nadeem\Desktop\download.jpgPurple Goes Green targets are:

  1. 50% reduction in our absolute carbon emissions.
  2. 10% decline in packaging of product and a more stretch target of 25% for gift and seasonal ranges. We will also aim for 60% biodegradable packaging.
  3. 100% “water scarce” sites will have water reduction programs in place.

Outcome 2

(P4) Explain how economic systems attempt to allocate and make effective use of resources

Function of an economy: - Government control economies and each economy have a certain amount of scares resources. Knowing that they exist on economic problem of scarcity however the economic system that a country has adapted to must ask the following questions and find suitable answers for them.

1) What to produce 2) How to produce 3) For whom to produce

There are 3 economic systems they are discussed in detail below:

Free market economy: - All the economic resources are owned by private people. In a market economy only those goods are produced and resources are devoted towards those goods that are in demand and are also showing an increase in demand. This means that private sector will gather information from the market about those goods whose prices are rising. Meaning they will find out goods which are in demand and produce those goods only. In a market economy firms only operate to make profits or firms work only for profit motives. Poor people will be in distress as they will be unable to find hospitals that are free or very cheap, and also will find prices of necessities going up as there will be no government control. In a market economy a government may have limited role of providing legal systems, justice system, police etc. In a market economy because of no government control firms often hide there external costs due to this cost is less and so is the selling price this creates and artificial demand in the market and too many scares resources are being used.

Advantages / Disadvantages

  • A wide variety of goods are produced to meet consumer’s wants
  • Encourages use of new and better methods to produce goods and services.
  • It relies on producers and consumers to decide what, how and for whom to produce.
  • In market economy factors of production will only be employed if it’s profitable.
  • May fail to offer public with certain goods or services.
  • Can encourage the use of harmful goods. Example drugs
  • Social effects of production may be ignored.

Planned economy: - All economic resources are owned and controlled by the state. The state works for social motives and every decision is for the betterment of the society. There is central planning and the state decides what goods must be produced. Usually resources are devoted towards making necessities first. Consumers have no influence over what goods should be produced. Only those goods are produced which the government wants and not what the people want. In panned economies there is always a problem of knowing the correct level of demand as the market mechanism does not register them. Due to this there is miss allocation of resources and either resources are over or under utilized by the government. Currently there are only three countries with planned economies. (China, North Korea, Cuba)

Advantages / Disadvantages

  • Government works on social motives.
  • Government charges high taxes on harmful goods.
  • Goods are produced both for the poor and those having money.
  • Social effects of production will be taken care of.
  • The state can fail to provide certain goods.
  • Cannot respond quickly to the changes in people’s wants.
  • Produces only those goods which the government wants and not what the people want.
  • Goods produced are of poor quality.
  • Firms do not have a reason for doing a good job it's because they work on social motive and there are no profit motives.

Mixed Economic system: - Many goods are produced by the private sector E.g. car, phones, PC etc. Many goods and services are provided only by the state E.g. police, defense, justice, railways, airlines, electricity. Some goods and services are provided both by the private and the government. And it is a person’s choice weather to go to a public hospital or a private hospital, public school or private school. In order to finance projects like health care and education the government raises money through taxes. In order to make better use of scare resources the government has the power to control or limit business activities. Government can control business activities in many ways E.g.

  1. Putting tax on pollution.
  2. Controlling employee rights.
  3. Anti competitive practices.
  4. Monopolies. E.g. merger or takeovers.

A mixed economic system is usually adopted by governments to promote free enterprises.

Advantages / Disadvantages

  • Government helps in creating jobs for those people who are out of work.
  • Government in mixed economies stops people from consuming harmful drugs by making them illegal or placing high taxes.
  • In market economy firms can avoid their own costs but in mixed economies government may use laws, higher taxes and possible penalties on firms to try to prevent polluting the environment.
  • Mixed economies overcome the problem of not producing goods for the poor as the state works on social motives and provide certain goods free of charge to the customers.
  • Government often charges higher taxes from people and this discourages people from working.

(P5) Discuss the impact of social welfare and industrial policy initiatives on organizations and the wider community

Social welfare: The objective of social welfare is to measure value welfare judgments and social ethics. It not just includes the standard of living but also the environment (water, air and soil), maintenance of income, health, housing, crime level, education and its connection to society and politics.

Industrial policy: Industrial policy helps government take active role in supporting investment and encouraging a faster economic growth in industry to help stop the manufacturing sector from decline. It emphasizes the cooperation between private enterprises, government, banks and employees to strengthen the economy.

The social impact was always positive on Cadbury because as Quaker family they were participating reforms in society. Example choosing chocolate for career in business line is by their religious outlook. As he felt that alcohol is a major cause for poverty he introduced coca and chocolate for drinking as alternative. Welfare reforms among labor: Cadbury directly ban the climbing boys who cleaned the chimney. Took major steps against the cruelty on animals and protested against royal cruelty on animals. Plus he manage a structure to give adults awareness. He had good relations with his labors taking fruitful steps he gives Saturday a half day for his labors. He arranged committee in 1918 that had optional voting one for men other for women. The council's main aim is to provide education, training, safety and social life of the worker. They also arranged places for prayers and timings for prayers for workers on spiritual reasons. For example on this particular time bible has to be read as a morning prayer in church.

Bibliography

BPP Learning Media. (2007). Business Environment (Course Book). London: BPP Learning Media Ltd.

http://www.studymode.com/essays/Social-Welfare-496646.html

http://www.papercamp.com/group/internal-and-external-stakeholders-store/page-1140

http://www.scribd.com/doc/157174637/Cadbury

http://www.ask.com/question/cadbury-schweppes-mission-statement

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