Kraft Foods – key factsApproximately $48 billionin revenueWorld’s #2food company, #1in North America#1 in globalconfectionery and biscuitsSales in 160+countries, Operationsin more than 70countriesApproximately 140,000employeesDonated more than one billion servingsof food since 1997Figures are for the combined Kraft Foods and Cadbury businesses
History•1903- James L. Kraft started manufacturing cheese and selling •1914- Opened first plant•1923- Kraft Cheese Co. acquires Fred Walker and Co.•1928- Kraft Cheese Co. acquires Phenix Cheese Corp.•1937- Kraft Macaroni and Cheese•1986- Kraft purchases Tombstone Pizza Corp.•1988- Phillip Morris Cos. purchases Kraft for $12.9 Billion •1989- General Foods and Kraft merge to become Kraft General Food (KGF)•1990- KGF International acquires Jacobs Suchard AG•1992- KGF International acquires five European confectionary companies•1993- KGF International Freya Marabou for $1.3 Billion•2000- KGF merges with Phillip Morris•2001- Kraft begins trading on NYSE•2004- Kraft launches Tassimo hot beverage system•2005- South Beach Diet Introduced•2007- Kraft is now fully independent•2009- Kraft Food Inc. introduced along with new corporate website
Actual Vision and Mission Statements•Vision Statement–Helping people around the world eat and live better.•Mission Statement–Make Today Delicious•In order to fulfill this mission Kraft Foods Inc. focuses on consumers in everything that they do. The company also understands that actions speak louder than words, so at Kraft Foods:–We inspire trust.–We act like owners.–We keep it simple.–We are open and inclusive.–We tell it like it is.–We lead from the head and the heart.–We discuss. We decide. We deliver.
Revised Mission Statement•Here at Kraft Foods we strive to produce superior products and services(2) to our customers (1) ranging from wholesalers to households. The 21stcentury is sure to bring more innovation, new products, and new food technology (4), thus enabling us to create and deliver better and healthier products. Kraft Foods continues to lead the food industry as the largest food supplier in North America (7)with plans to continue expansion into new and existing global markets (3). We support the goals of the company by applying the highest ethical conduct within our corporate philosophy in all our business transactions (6), treatment of employees (9),and social and environmental policies (8). We at Kraft Foods focus highly on our consumers’ lifestyles and aim to grow profitable in the worlds’ food market and provide a higher than expected return to shareholders (5). Our company takes pride in making today and the future-delicious. 1.Customers2.Products and services3.Markets4.Technology5.Concern for survival, growth, and profitability6.Philosophy7.Self concept8.Concern for public image9.Concern for employees