...J. M. Smuckers: Rules of Innovation Family-owned businesses are often thought to be small, store-front operations with little chance of growth. However, many of today’s nationally and internationally-recognized brands have their foundations as localized, family-run businesses. Few, however, can boast that they still maintain the same family leadership and have grown to become a Fortune 500 company like the J.M. Smuckers Company. From its inception in 1897 as a cider and apple butter purveyor to the international brand and licensor of multiple food products such as coffee, peanut butter, and baking mixes that it is today, Smuckers has always had a Smucker at its helm (Gunther, 2010). The culture of strong leadership instilled in the company early on has permitted them to exemplify Davila, Epstein and Shelton’s (2013) seven rules of innovation while sustaining and growing their company. This paper will outline how Smuckers has implemented innovations in line with these rules of innovation. Innovation in Line with Business Strategies Historically, Smuckers stuck with producing only fruit-related products (Gunther, 2010). This business strategy allowed them to grow and expand globally by purchasing similar companies (fruit and jelly brands) in other countries (Gunther, 2010). However, when sales began to stagnate, a new, more aggressive strategy was devised to focus outwardly on acquiring other brands that were of central focus in most supermarkets (Gunther, 2010). Over the...
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...I Company Background: Unilever is the parent company of the Skippy brand peanut butter. Unilever is a multi-national company with over 174,000 employees and operates in over 100 countries. Unilever has an annual advertising budget of over $77 million dollars, however it does not break down the budget per business segment. Total sales for Unilever is over $59 billion USD during fiscal year 2008. (Reed Elsevier Inc) II. Brief Introduction: Skippy was founded in 1933, 10 years after the product was initially developed by Joseph Rosefield. Skippy's Peanut Butter is manufactured in a single 158,000 sq ft plant in Little Rock, Arkansas. They produce over 10 million cases of Skippy per year and have a total of 72 different SKU's produced for global consumption. They use over 1.2 billion peanuts a day and each 18 oz jar contains 853 full peanuts. (Food & Drug Packaging, 2004) Sales data for Unilever saw overall growth in this business segment in 2008 of 7.9%. Peanut butter sale is included in the Savory, dressings and spreads product area by Unilever and accounted for sales of over $14 billion Euros. (Annual Report and Account 2008, 2008) Skippy is a marketing based organization. The products they develop and market are geared towards meeting customer needs and attempting to differentiate themselves from their competition. Examples of this would include reformulating the Skippy Peanut Butter to have a more "peanutty" taste (Skippy Peanut Butter, 2009) and also developing...
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...Comparisons of Childhood Depression Measures Depressive disorders are now recognized as a relatively prevalent problem in adolescents as it is one of the causes of morbidity and mortality in this age group (Birmaher, et al., 1996). Thus initial detection of depression should be as early as possible in order to mitigate the impact of the disorder in an individual’s life by positively amending the long-term course of depression. Current research of depression in adolescents have introduced various assessment tools in diagnosing the disorder in children and adolescents. However, determining the most appropriate measure of depression involves several considerations rather than merely selecting one as a test that lacks compatibility in its reliability and validity may result to a false positive or false negative diagnosis (Reynolds & Mazza, 1998). This paper aims to draw on three self-report assessments for depression in adolescents, naming the Child Depression Inventory (CDI), Beck’s Depression Inventory 2nd Edition (BDI-II) and Reynold’s Adolescents Depression Scale (RADS) in reviewing, comparing and contrasting their psychometric properties. Conclusion on the most appropriate assessment for depression in adolescents will be drawn. Children’s Depression Inventory (CDI) CDI was originally adapted from Beck Depression Inventory (BDI) by altering its format and language, to measure severity of depression in children age 7 and older (Brooks & Kutcher, 2001). CDI...
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...down to have a dramatic impact on human resource management. The purpose of this paper is to evaluate the most relevant Canadian and Swedish employment standards legislation and labour market data and in so doing, compare and contrast legislation in order to objectively examine the two countries. Canada and Sweden can be compared and contrasted in significant ways. Specifically, a review of labour law and labour market trends, including labour force demographics, minimum wage standards, parental leave, vacation time and hours of work is worthy of consideration as to determine the implication on human resource management. 2.0 Sweden and Canada Labour Program Expenditure Defined It is important to first establish background information of each country. Sweden’s labour standards and policies fall under the responsibility of the Ministry of Employment. The responsibilities are considered to be part of the welfare system which includes unemployment benefits, activation benefits, employment services, employment programs, and job development opportunities (Smucker, Axel Van, Michael & Anthony, 1998). Sweden, historically known as a welfare state, has traditionally been characterized by a high level of social protection based on universal coverage, a large public sector, a low rate of unemployment, regulation of the employment market based largely on collective agreements and high growth rates (Smucker et al., 1998). Of additional importance, employment security and stability are...
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...The Cereal Killer Is Peter Pan a war criminal? It is a proven fact that Peter Pan is responsible for the deaths of thousands of innocent civilians. No, not THAT Peter Pan. Peter Pan, Smuckers, Skippy, Jif and all brands of peanut butter are potential killers for people who are severely allergic to peanuts and peanut products. Did you know that one of the ingredients in some flavors of Jelly Belly jelly beans is peanut flour? Did you know that food, processed in equipment that has previously processed food containing peanuts, may be as lethal to the severely allergic as food containing peanuts? If your answer is No, then read on. Here is a story that sounds like something from Stephen King. True food allergies are rare. The FDA (U.S. Food and Drug Administration) estimates that only 2% of the adult population of the United States is allergic to foods. Further, only eight foods cause 90% of all food allergic reactions. They are milk, egg, wheat, peanut, soy, tree nuts, fish and shellfish (Food Allergy Network). Many reactions to foods are really intolerance (reaction of the metabolism due to a chemical deficiency) rather than allergy (reaction of the immune system). Many infant allergies, which are later outgrown, are thought to be the result of immature immune systems. However, other allergies become stronger as the person ages and inadvertently becomes more exposed. One report on KCBS radio indicated there may be a link between mothers who ate peanuts during pregnancy...
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...The Procter & Gamble Company Jake Rehtmeyer Analyst July 8, 2010 Recommendation: HOLD Pros: • • • • • Ticker Exchange Industry Sector Classification Market Cap. 52 Week Price range Recent Price Current P/E Projected 2012 P/E 2009 EPS Projected 2012 EPS Dividend Yield Debt Rating Beta PG NYSE Household Products Consumer Staples Income & Capital Appreciation $175 B $39.37 - $64.58 $59.38 (7/2/2010) 15.9 15.2 $3.58 $4.26 3.2% AA0.60 • • • • Disciplined cash and cost management Investing in capacity, innovation, and consumer value this year 23 $1 billion brands and 20 $500 million brands Poised to grow in developing markets (low costs, great growth potential) Excellent consumer understanding, marketing, and brand-building Cons: Global economic conditions Regulatory environment (environmental, competitive laws) Currency and debt exposure Critical Issues: Near-term results vs. Long-term growth Growth strategy Cost and price pressures Regulatory environment 1 • • • Brief Overview The Procter & Gamble Company (P&G) is focused on providing branded consumer packaged goods. The Company’s products are sold in over 180 countries worldwide primarily through mass merchandisers, grocery stores, membership club stores, drug stores and in highfrequency stores, the neighborhood stores, which serve consumers in developing markets. As of June 30, 2009, the Company was organized into three Global Business Units: Beauty; Health and Well-Being, and Household Care. The Company had...
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...The Procter & Gamble Company Jake Rehtmeyer Analyst July 8, 2010 Recommendation: HOLD Pros: • • • • • Ticker Exchange Industry Sector Classification Market Cap. 52 Week Price range Recent Price Current P/E Projected 2012 P/E 2009 EPS Projected 2012 EPS Dividend Yield Debt Rating Beta PG NYSE Household Products Consumer Staples Income & Capital Appreciation $175 B $39.37 - $64.58 $59.38 (7/2/2010) 15.9 15.2 $3.58 $4.26 3.2% AA0.60 • • • • Disciplined cash and cost management Investing in capacity, innovation, and consumer value this year 23 $1 billion brands and 20 $500 million brands Poised to grow in developing markets (low costs, great growth potential) Excellent consumer understanding, marketing, and brand-building Cons: Global economic conditions Regulatory environment (environmental, competitive laws) Currency and debt exposure Critical Issues: Near-term results vs. Long-term growth Growth strategy Cost and price pressures Regulatory environment 1 • • • Brief Overview The Procter & Gamble Company (P&G) is focused on providing branded consumer packaged goods. The Company’s products are sold in over 180 countries worldwide primarily through mass merchandisers, grocery stores, membership club stores, drug stores and in highfrequency stores, the neighborhood stores, which serve consumers in developing markets. As of June 30, 2009, the Company was organized into three Global Business Units: Beauty; Health and Well-Being, and Household Care. The Company had...
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...iour3rd INTERNATIONAL CONFERENCE ON BUSINESS AND ECONOMIC 1304 RESEARCH ( 3rd ICBER 2012 ) PROCEEDING 12 - 13 MARCH 2012. GOLDEN FLOWER HOTEL, BANDUNG, INDONESIA ISBN: 978-967-5705-05-2. WEBSITE: www.internationalconference.com.my CONSUMERS’ ATTITUDE TOWARDS “MAMAK” FOOD IN MALAYSIA Kartina Abu Bakar School of Hospitality, Tourism and Culinary Art Taylor’s University kartina.a@taylors.edu.my Abdul Ghani Farinda Centre for Continuous Education University of Malaya farinda@um.edu.my ABSTRACT Malaysia is a unique country. There are various races and ethnics of people living together in harmony and as such there are many ethnic foods for example “Mamak” food. “Mamak” food is popular among Malaysian and can be found from roadside stalls to café or bistro concept restaurants. The objective of this study is to provide an insight into customers dining intention to “Mamak” restaurants measuring the service quality and food attributes. A questionnaire survey was administered in this study and result showed that only one of the factor of service quality that is assurance and one variable of food attributes that is aroma, have greater influence on customers dining intention. The findings in this study can be used by other concepts restaurants to develop a competitive advantage that will further promote Malaysia as an interesting and colorful gastronomic tourism destination in the world. Field of Research: “Mamak” restaurant, restaurant, dining intention, service quality, food...
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...ISSN 1392-2785 ENGINEERING ECONOMICS. 2009. No 1 (61) COMMERCE OF ENGINEERING DECISIONS Organizational Culture Types as Predictors of Corporate Social Responsibility* Ülle Übius, Ruth Alas Estonian Business School, Estonia, Tallinn 10114, Lauteri 3 The purpose of this paper is to investigate connections between corporate social responsibility and organizational culture types. The survey was conducted in Estonian, Chinese, Japanese, Russian, Czech, Finnish, German and Slovakian electric-electronic machine, retail store and machine-building enterprises. The main aim of the study is to find connections between corporate social responsibility and different organizational culture types. According to Cameron and Quinn (1998), culture defines the core values, assumptions, interpretations and approaches that characterise an organization. Competing Values Framework is extremely useful in helping to organize and interpret a wide variety of organizational phenomena. The four dominant culture types – hierarchy, market, clan and adhocracy emerge from the framework. According to Strautmanis (2007), social responsibility is part of organizational culture and a value in the organizational culture environment. Development of social responsibility is a change in values orientation, whose task is shaping the attitudes, transformation of the personal position so that it matches individual and public interests. Different organizations have framed different definitions about corporate social responsibility...
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...ANALYZING TECHNOLOGY ADOPTION: CHALLENGES AND LIMITATIONS OF MICRO-STUDIES Cheryl R. Doss Yale University Cheryl Doss Yale Center for International and Area Studies P.O.Box 208206 New Haven, CT 06520-8206, USA 203-432-9395 (office) 203-432-9886 (fax) Cheryl.Doss@yale.edu 2 Abstract: Although the questions about the use of improved technologies in developing country agriculture have expanded to include the roles of policies, institutions and infrastructure, most micro-level adoption studies can not address these important policy issues. Drawing on an extensive review of the literature on the adoption of agricultural technologies, this paper suggests alternative approaches for designing technology adoption studies to make them useful for policy makers. It explores the generic limitations of cross-sectional adoption studies carried out in small number of communities and discusses the problems faced in conducting such studies. Recommendations include the use of sampling approaches that allow data from micro-studies to be generalized to higher levels of aggregation, adherence to clearly defined terms that are standardized across studies, and carefully examining the assumptions that often underlie such studies. In addition, the use and interpretation of proxy variables for the policy variables are discussed. Keywords: agricultural technology, adoption 3 ANALYZING TECHNOLOGY ADOPTION: CHALLENGES AND LIMITATIONS OF MICRO-STUDIES 1. Introduction For most of the world’s poorest countries...
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...Designed to Lead 2009 Annual Report Contents A.G. Lafley Letter to Shareholders Bob McDonald Letter to Shareholders Touching Lives P&G Brands — Designed to Be Leaders Billion- and Half-Billion Dollar Brands Improving Life P&G Leaders — Built from Within Corporate Officers Board of Directors P&G at a Glance Financial Contents Shareholder Information 11-Year Financial Summary 1 5 8 10 12 16 18 24 25 26 27 72 73 Financial Highlights FINANCIAL SUMMARY (UNAUDITED) Amounts in millions, except per share amounts 2009 2008 2007 2006 2005 Net Sales Operating Income Net Earnings Net Earnings Margin from Continuing Operations Diluted Net Earnings per Common Share from Continuing Operations Diluted Net Earnings per Common Share Dividends per Common Share $79,029 16,123 13,436 14.3% $ 3.58 4.26 1.64 $81,748 16,637 12,075 14.4% $ 3.56 3.64 1.45 $74,832 15,003 10,340 13.4% $ 2.96 3.04 1.28 $66,724 12,916 8,684 12.7% $ 2.58 2.64 1.15 $55,292 10,026 6,923 12.0% $ 2.43 2.53 1.03 NET SALES (in billions of dollars) DILUTED NET EARNINGS (per common share) 05 06 07 08 09 $55.3 $66.7 $74.8 $81.7 $79.0 05 06 07 08 09 $2.53 $2.64 $3.04 $3.64 $4.26 OPERATING CASH FLOW (in billions of dollars) 05 06 07 08 09 $8.6 $11.4 $13.4 $15.0 $14.9 Note: Previous period results have been amended to exclude the results of the Folgers coffee business from continuing operations. For more information refer to Note 12 on page 71. The Procter & Gamble Company ...
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...BRANDS AND BRANDING: RESEARCH FINDINGS AND FUTURE PRIORITIES Kevin Lane Keller Tuck School of Business Dartmouth College Hanover, NH 03755 (603) 646-0393 (o) (603) 646-1308 (f) kevin.keller@dartmouth.edu Donald R. Lehmann Graduate School of Business Columbia University 507 Uris Hall 3022 Broadway New York, NY 10027 (212) 854-3465 (o) (212) 854-8762 (f) drl2@columbia.edu August 2004 Revised February 2005 Second Revision May 2005 Thanks to Kathleen Chattin from Intel Corporation and Darin Klein from Microsoft Corporation, members of the Marketing Science Institute Brands and Branding Steering Group, and participants at the Marketing Science Institute Research Generation Conference and 2004 AMA Doctoral Consortium for helpful feedback and suggestions. BRANDS AND BRANDING: RESEARCH FINDINGS AND FUTURE PRIORITIES ABSTRACT Branding has emerged as a top management priority in the last decade due to the growing realization that brands are one of the most valuable intangible assets that firms have. Driven in part by this intense industry interest, academic researchers have explored a number of different brand-related topics in recent years, generating scores of papers, articles, research reports, and books. This paper identifies some of the influential work in the branding area, highlighting what has been learned from an academic perspective on important topics such as brand positioning, brand integration, brand equity measurement, brand growth...
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...Synchronization— The Next Generation of Business Partnering How Leading Companies are Delivering Actual Results People Strategy The GROCERY MANUFACTURERS ASSOCIATION (GMA) represents the world’s leading branded food, beverage and consumer products companies. Since 1908, GMA has been an advocate for its members on public policy issues and has championed initiatives to increase industrywide productivity and growth. GMA member companies employ more than 2.5 million workers in all 50 states and account for more than $680 billion in sales. The association is led by a board of member company chief executives. For more information, visit the GMA Web site at www.gmabrands.com. The FOOD MARKETING INSTITUTE (FMI) conducts programs in research, education, industry relations and public affairs on behalf of its 1,500 member companies — food retailers and wholesalers — in the United States and around the world. FMI’s U.S. members operate approximately 26,000 retail food stores with a combined annual sales volume of $340 billion — three-quarters of all food retail store sales in the United States. FMI’s retail membership is composed of large multi-store chains, regional firms and independent supermarkets. Its international membership includes 200 companies from 50 countries. For more information, visit the FMI Web site at www.fmi.org. WEGMANS FOOD MARKETS, INC. is a 71-store supermarket chain with stores in New York, Pennsylvania, New Jersey, Virginia, and Maryland. The family-owned...
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...www.pwc.com Global Agribusiness Monthly commentary from our Agribusiness experts around the Globe. October 2014 Contents Regional views Did you know? Publications Calendar of events Prices Global Agribusiness contacts 2 8 11 13 14 21 Regional views Overview With teams around the Globe, this document sets out to give a flavour of what our local agribusiness experts are observing in their territories. This month we are reminded of the ever present impact of volatility on Global agriculture. We have seen significant falls in dairy commodities, grains and oils in 2014 with coffee soaring in the opposite direction on the back of a drought in Brazil. The moves have happened quickly (e.g dairy down over 50% in New Zealand since February 2014 and coffee spot prices up over 30% since August 2014) and this can be difficult for farm families or small holders to deal with. For example in the UK, dairy farmers have taken to public protests and blockades. At PwC we are bullish on the long term prospects for agriculture given Global population and wealth trends however we also recognise that this future optimism can be meaningless to a farmer when short term production costs exceed selling price. Agriculture is a volatile industry and participants have to put in place their own strategies to deal with this which are right for them, be it selling forward or hedging for budget certainty, insuring where possible against crop loss, keeping a buffer of cash or liquid assets which...
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...Forces. We describe the agribusiness value chain as two chains which become one at the consumer end (Figure 1). One value chain follows plants and plant products, and another chain follows animals and animal products. These two chains blend into one chain at the processing and retailing stages of the chain. We also view the value chain rather simply as four stages: (1) input suppliers; (2) producers; (3) processors and handlers; and (4) retailers. While the value chain could be viewed as specific for different products, aggregating to these two chains, plants and animals, permits the discussion of the major forces and impacts of interest to most readers. This theme is split between the current and next issues of Choices. In this issue, the papers explore the forces affecting retailers and the plant and plant products value chain including the input industry (Olson, Rahm, and Swanson); crop production...
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