Executive Summary This report will list out Kraft Foods’ perceived strengths and weaknesses. Some of the sources used in this report were taken from Kraft Foods 2012 annual report, government data, and other news agencies. Kraft does not willing list its own strengths and weaknesses for the general public to see. Some of the information in this report is inferred upon the results of various financial articles. From the information available, Kraft has more strengths than weaknesses and has the capacity to turn many of its weaknesses into strengths provided some guidelines are followed.
Introduction
Every company throughout the world has from time to time completed an internal analysis of itself. Kraft Foods is no different. To remain profitable in this economy, Kraft cannot remain stagnate. This report will accomplish an internal view of Kraft Foods’ strengths and weaknesses. After analyzing these strengths and weaknesses, Kraft can use the strength of innovation and the weakness of supply and turn them both into good opportunities.
Strengths
Innovation: One of Kraft Foods’ greatest newfound strength is innovation. However, this was not always the case. In 2008, Kraft ranked next to last in its peer group in new product successes. (Goudreau, 2013) For the rest of 2008 and 2009, 17 of 19 new products introduced into the market were considered failures. There is even a quote from an outside company consultant who was brought in to report on Kraft’s innovation process who said that “Kraft is where good ideas go to die.” (Goudreau, 2013) However, in 2010 Kraft brought in some new senior level management that drastically changed Kraft’s innovation process. Instead of waiting for new ideas to develop naturally, Kraft decided to focus its innovation efforts on only a few ideas. The result of this is that Kraft developed MiO drink mixes, Oscar Mayer