Hershey Values

In: Business and Management

Submitted By terry01
Words 412
Pages 2
There are many trends in this chapter that impact Hershey's the most, one of them is an aging workforce. The BLS has projected that from 2008 to 2018, the total U.S. civilian labor force will grow from 154 million to 167 million workers (Noel, 2011). The older generation wants to work, and many say they plan a working retirement. This economy has been troubling at times which forces the baby boomers to stay in the workforce past their retirement times. This trends impacts the baby boomer workers with the new millennial workers for companies.. The increasing use of computers to do routine task has shifted the kinds of skills needed for employees in the U.S. economy (Noel, 2011). Such qualities as physical strength and mastery of a particular piece of machinery are no longer important in many jobs (Noel, 2011). Hershey’s has setup a mentoring program for their closer to retirement workers and their newer workers we described above as millennial workers, this strategy retains company information within the newer employees so the company basically does not lose a step. The trends listed above I believe will impact Hershey's the most.

As more and more of the workforce reaches retirement age, some companies have set up mentoring programs between older and younger workers so that knowledge is not lost but passed on (Noel, 2011). Mentoring could affect the Hershey’s culture in a positive way, and through mentoring it will provide a transition of senior workers knowledge and understanding of company to their younger peers. I believe that through mentoring it helps tackle the value that Hershey’s stand for, for instance their first value. Their first value reads “We are Open to Possibilities by embracing diversity, seeking new approaches and striving for continuous improvement” (Noel, 2011). This value is right along the terms in what Hershey is trying to integrate in their…...

Similar Documents

Hersheys

...to meet the needs of consumers. From the early 1900’s to the present Hershey purchased several companies and manufactories located in the Norwegian areas, Brazil, Japan, Italy, and several other locations. In the early 2000 year Hershey “announced a pre-tax restructuring charge of $275 million…supporting initiative to enhance the future operating performance of the Company” (“Key corporate events,” 2012). Currently Hershey owns and operates 11manufacturing plants in the United States. In 2007 the company decided to transform its global supply chain so they will disembark on a plan to reinforce cocoa by developing community programs in West Africa. Hershey will “expand and accelerate programs to improve cocoa communities by investing $10 million in West Africa and continuing to work with experts in agriculture, community development and government over the next five years” (“Hershey expands responsible,” 2012). These cocoas farms are generally operated through family farms so this venture will improve farming in West Africa and increase the family’s income. As the CEO J.P. Bilbrey of Hershey stated, the company will invest in education, health, and various economic opportunities for the farming families (2012). Hershey will work alongside the Rainforest Alliance to monitor labor to avoid illegal practices. Training programs will be offered to educate those in the legal matters of operations. In 2011, Hershey introduced a mobile phone program, CocoaLink, to communicate with......

Words: 453 - Pages: 2

Hershey Case

...Dongyang Zhu BMGT440 Hershey Case Study Hershey Food Corporation was initially founded by Milton Snavely Hershey, with the born of Hershey Chocolate Company. Soon after Milton Hershey learned that the secret of mass production for his chocolate lay manufacture of huge quantities of one item, standardized in design, and with a continuity of streamlined output that held down cost. Hershey had generated sales of $5 million by 1911, more than eight time the company’s first-year revenues. By 1921, Hershey’s sales had soared to $20 million. In 1937, the quartermaster of the United States Army asked the Hershey Chocolate Corporation to develop a military-ration bar that could meet the needs of soldier in the field. By the end of World War II, Hershey was producing 24 million units of Field Ration D a week. More than three billion units of Field Ration D bars were made between 1940 and 1945, and were distributed to soldiers around the world. While other confectioners were forced to limit or even cease production during the war, the Hershey Chocolate Corporation was winning millions of loyal consumers, as well as a place in American history. While enjoyed making money, Hershey always “wanted it used for the purpose of enduring good.” Hershey’s dedication to his employees and the residents of the town was steadfast. During the Great Depression, despite a 50 percent drop in sales, Hershey refused to lay off any local employees. Instead, between 1929 and 1939, he launched a......

Words: 795 - Pages: 4

Hershey

...ershDominic Ciantar Ronnie Pollack Christopher Macuga Michael Evans Case Study Hershey North America 1. What are the advantages of targeting candy bars to adults rather than to children? The advantages of targeting candy bars to adults may be one that many people don’t understand but, there are some very important reasons on why some candy manufacturers do so. First off mothers determine children’s early taste in candy. Therefore, if a company like Hershey can target mothers to buy Hershey candy than their children are more likely to buy Hershey candy. In addition to targeting mothers as adults, research shows that adults eat more than 55 percent of all candy sold. This is the main reason why candy manufacturers target candy bars to adults rather than children. 2. Does targeting to adults require a change in image for candy products? Now that we understand why candy manufacturers target adults, next we have to understand the process of targeting this candy to adults. The most important aspect of this process is the image. Bite-size products are especially popular with adult consumers. When wrapped in seasonal colors, these products have tremendous appeal for adults during Christmas and Easter season. In December 1998, Hershey targeted the ever-growing snacking segment of the confectionery industry by transforming some of its most popular bars into “Hershey Bites.” Included in this range of products were Hershey’s Milk Chocolate with Almonds, Cookies ‘n’ Creme...

Words: 688 - Pages: 3

Hersheys

...overall sugar consumption by 2015. These are the same countries expected to witness high CAGR in the global chocolate market. The growth in the overall sugar market is attributed to India, a result of the expansion in the sugarcane area, and generally favorable weather. In this report, under the raw materials section, an in-depth analysis of cocoa, sugar, emulsifiers, and flavors has been done with respect to their contribution to the chocolate industry. Competitive information includes market shares of leading producers, key developments, and strategies deployed to win. Major companies analyzed in the company profiles section include Nestlé (Switzerland), Barry Callebaut (Switzerland), Kraft Foods (U.S.), Mars (U.S.), Ferrero (Italy), and Hershey (U.S.). The purpose of the report is to highlight points that are actionable for its stakeholders. The report features more than 130 tables and figures, including market numbers, and also forecasts the chocolate market scenario till 2016. The report analyzes global chocolate market by product, sales category, geography and raw materials; forecasting revenues and analyzing trends in each of the following submarkets: By product types: • Dark chocolate • Milk chocolate • White chocolate By sales category: • Everyday chocolate • Premium chocolate • Seasonal chocolate By geography: • North America • Europe • Asia • ROW (Rest of the World) Global Chocolate, Cocoa Beans, Lecithin, Sugar and Vanilla......

Words: 1993 - Pages: 8

Hershey

...BUS 520 The Hershey Company is famously known for being the biggest manufacturer of chocolates and confectionery products in USA, having hired over 15,000 employees worldwide and exporting their products to ninety different countries over the world. They have several popular brands, some of most notable ones being Hershey’s Chocolate Bar, Kit Kat, Hershey’s Kisses, Reese’s, York Peppermint Pattie, Rolo and Krackle Bar. With the help of these brands, Hershey gained success and popularity, making the company’s net worth over $4 billion dollars. As the preeminent chocolate empire in the United States, Hershey has rewarded its owners as it showered them with profits from sales of chocolate bars, chocolate kisses, candy, cocoa, and baking supplies.  The problem has always been that the market recognizes how phenomenal of a business it is and prices it accordingly.  Hershey is not a stock you can buy cheaply; at least not at any point in the past quarter century. “Hershey has been riding high on a wave of lower expenses brought about because sugar prices are at a three-year low.”2 With costs low, Hershey has been able to simply keep pace with inflation on its pricing while keeping its marketing budget at bay and relying on its brand name to drive margin and sales growth. The worry here, though, is that neither sales trends nor sugar prices are going to work in Hershey's favor in the long run. The company is vulnerable to market prices of key ingredients all of which saw price......

Words: 1171 - Pages: 5

The Hershey Company

...The Hershey Company Worldwide Educators OR/5000 May 7, 2013 The Hershey Company Introduction The founder of the Hershey Company was Milton S. Hershey. He was raised in rural central Pennsylvania. Even though he lacked formal education and went nearly bankrupt by the time he was 30 years of age, Milton S. Hershey became one of the wealthiest men in the world. He started Lancaster Caramel Company in 1876, in Philadelphia, hiring about 1400 people, in his chocolate factory. By the time the year 1900 came in the picture Milton S. Hershey made 1 million dollars. This was the name before it was Hershey. Soon the Lancaster Caramel Company was shipping all over the U.S. and Europe. As time progressed on, Mr. Hershey opened a school for orphan boys called the Milton Hershey School; it has since opened its doors to girls as well. In 1918, Hershey transferred the bulk of his considerable wealth, including his ownership in the Hershey Chocolate Company and other enterprises, to the Hershey Trust to be held for the Hershey Industrial School. The Hershey’s Company many products to choose from such as Hershey’s milk chocolate bar, Reese’s peanut butter cups, Kit Kat wafer bars, Hershey’s Kisses, Jolly Ranchers, Ice Breakers, and many more. These products are only, to name a few. Hershey does not only offer sweets to eat also offer job opportunities, or if one would like to be an investor in the company. Mission Statement Hershey’s considers their mission......

Words: 1692 - Pages: 7

Hershey

...go to http://www.hbsp.harvard.edu. This publication may not be digitized, photocopied, or otherwise reproduced, posted, or transmitted, without the permission of Harvard Business School. Purchased by: hayden cohen hayden@student.fdu.edu on October 29, 2013 4362 | WrapItUp: Developing a New Compensation Plan The initial restaurant opened near campus the following year, and the business expanded quickly, well ahead of an increasing overall consumer preference for quick meal alternatives perceived as healthy. A 2011 restaurant industry study indicated that 70% of restaurant consumers were trying to eat healthier and that two-thirds of restaurant operators noticed guests ordering healthier choices and inquiring about the nutritional value of menu items. By mid-2011, WrapItUp operated 30 restaurants in Northern and Southern California, and the Seattle (WA), Portland (OR), and Phoenix (AZ) metro areas. Many, but not all, of its restaurants operated near universities. The founders imagined that they would eventually expand to other geographic areas, but doing so was not on their immediate strategic agenda. All stores were still company-owned, and the company did not currently have plans to franchise. “There’s a right size for us, and it’s not to have one on every corner of every street in every city,” said Sethi. “We want to keep our company at a manageable level to ensure consistency.” The firm was privately held with the co-founders as majority shareholders. The......

Words: 5561 - Pages: 23

The Hershey Company

...Management 306 The Hershey Company Introduction Trying to make chocolate chip cookies without eating all the chocolate chips first. Finally achieving the ever elusive perfect peel of a Reese’s cup wrapper. Breaking off a piece of a Kit Kat bar only to eat the whole thing anyways. These are all things everyone associates with one of the world’s leading candy companies, and that company is Hershey’s. The Hershey Company is one of the world’s leading manufacturers of chocolate and chocolate confectionary products. Hershey is a publicly owned company with over 14,000 employees and locations in over 90 countries. Hershey is known to manufacture many different products, including but not limited to Hershey Chocolate Chips and Chocolate Syrup; Kit Kat, Reese’s, Heath bars, Milk Duds, Goodbar, and many more. Hershey is a very interesting company, with a storied history, and proven business success. History The Hershey Chocolate Company began as a wholly owned subsidiary of Milton Hershey’s Lancaster Caramel Company in 1893. Soon after that William Murrie was hired to sell the excess product to other confectioners and he quickly turned the Hershey Company into a successful venture on its own. By 1895 the Hershey Company was making more than 114 chocolate products, and marketed several specifically to women and athletes. Hershey then realized the real market was in milk chocolate; he just needed to find a way to produce large quantities quickly and efficiently. Hershey worked......

Words: 3554 - Pages: 15

The Hershey Company

...Hershey Company Weaknesses in the Product Life Cycle There are a couple of weaknesses in the product life cycle of Hershey. To begin with, candy sales are being lowered by health and wellness trends, which are not only a weakness for Hershey, but the entire chocolate and candy industries as a whole. In addition to that, Hershey has had price inflation for their products. There has been an increase in consumer consciousness when it comes to the health risks related to foods with high sugar and salt products as well as high-fat and cholesterol foods. Consumers are giving more attention to the product labels of the items they purchase and are choosing to purchase the healthiest products available. When it comes to price inflation, rising costs have been a principally tough challenge for the company. The raw material costs having to do with producing a basic milk chocolate bar weighing 3.5 ounces or 100 grams, has soared 28 percent. Hershey’s has been susceptible to market price increases of key ingredients like cocoa, milk, sugar and peanuts, which all have seen increasing prices. The price of cocoa butter, which makes up about a fourth of each chocolate bar, has risen 63 percent in the last 2 years, reaching a four-year high. Whole milk powder, which is another major part, has risen above 20 percent (Tidy, 2013). In order for the company to fight the rising costs, they would need to both raise domestic wholesale prices and lower product weight. The rising price......

Words: 1908 - Pages: 8

Hershey Conflicts

...increase as well. Conflict: As Hershey is beginning to expand out of Pennsylvania, the higher management and major shareholders of the company could not help but notice that the productivity of their employees was on the decline. Not only were the internal factors causing trouble to the company but sales were starting to fall. The company looked into the problem and found that the places they were expanding were not fitting in with the company’s standards and the workflow the company is used to. This is when Hershey started to realize that if they wanted to be able to compete globally, they are going to have to set in some new integrated standards to rejuvenate the employee morale and to increase the sales. Conflict resolution: Hershey realizes the importance of sustainability in their business. Hershey’s mission is to focus on minimizing the environmental impact of the new facility while meeting functional requirements through sustainable product design, sustainable sourcing, and efficient business organizations. Hershey is also looking to engage in a fair and ethical marketplace by having integrity of supply, consumer well-being, and to have a strong alignment with their customers. The community and the workplace are extremely important to Hershey. The company’s goal is to positively impact society and local communities where we live and work through corporate Philanthropy, contribution of expertise, and employee giving and volunteering. Hershey understands that......

Words: 716 - Pages: 3

Hershey Values

...MISSION The mission statement of the Hershey Company brings to mind its signature chocolate bars and kisses: “Bringing sweet moments of Hershey happiness to the world everyday.” Living out that mission, however, comes down to more than candy. The company defines its mission in terms of its relationships with all stakeholders—consumers, employees, business partners (such as suppliers and distributors), shareholders, and the communities in which it operates. With regard to employees, the mission involves “winning with an aligned and empowered organization . . . while having fun.” “Aligned” employees should share values, be clear about how their work contributes to the organization’s mission, collaborate effectively, and be selected, equipped, and rewarded for meeting company objectives. These requirements, of course, call upon the skills of human resource management. With regard to values, Hershey has identified four and communicates them on its Web site: We are Open to Possibilities by embracing diversity, seeking new approaches and striving for continuous improvement. We are Growing Together by sharing knowledge and unwrapping human potential in an environment of mutual respect. We are Making a Difference by leading with integrity and determination to have a positive impact on everything we do. We are One Hershey, winning together while accepting individual responsibility for our results. All of these values play into the way Hershey addresses human resource......

Words: 490 - Pages: 2

Hershey Facts

...com Prepared by: The Hershey Company Investor Relations Department 100 Crystal A Drive, P.O. Box 810 Hershey, PA 17033-0810 Internet: www.hersheys.com The Hershey Company Fact Book Table of Contents Page(S) 3 4 5-24 Mission Statement Acquisition/Divestiture Summary Key Corporate Events Financial Data Summary of Statements of Income - GAAP: 2010 & 2009 Summary of Statements of Income - Pro Forma: 2010 & 2009 Six-Year Consolidated Financial Summary Quarterly Performance (2010, 2009 & 2008) 2002 – 2010 GAAP & Non-GAAP Annual EPS Capitalization Financing Arrangements Long Term Financial Objectives Capital Expenditures Depreciation Cash Flow Analysis Share Repurchases Economic-ROIC HSY Stock Statistics Key Management Hershey Executive Team Operations U.S. Confectionery Industry U.S. Market Share U.S. Classes of Trade U.S. Snack Market Hershey Products Hershey Canada Hershey Mexico Hershey International Commodities Cocoa Sugar Hershey Manufacturing and Distribution 25 26 27 28 29 30 31 32 33 33 34 35-36 37 38-39 40 41-42 43-44 45 45 46-47 48-50 51 52-53 54-55 56 57 The Hershey Company What it means to stakeholders Consumers Delivering quality consumer-driven confectionery experiences for all occasions Employees Winning with an aligned and empowered organization…while having fun Business Partners Building collaborative relationships for profitable growth with our customers, suppliers and partners Creating sustainable......

Words: 17608 - Pages: 71

Hershey

...management system is the Hershey Company. Faced with an aging workforce of baby boomers and many new hires of millennial workers (the generation of workers in their twenties), the Hershey Company redesigned its performance management system in order to appeal to its diverse workforce. The redesigned system resulted in two major components. The first component included the company allowing goals to be set and tracked by employees. The second component of the redesigned performance management system included the component that the company was not just driven by outcomes measures, but also whether or not the outcomes were achieved with values aligned to the company. Given the challenges of dealing with organizational change from seasoned employees along with the challenges of maximizing the new ideas, talents, and energies from the younger generation, I would like to offer Hershey some recommendations for the implementation of its new system that would appeal to its diverse workforce. One of the first recommendations I would make is for the managers to review the values of the company with all of the employees. I believe it is imperative to ensure that all employees understand the mission, vision, and values of the organization. It is not enough to know where the statements are in the building. Employees must understand what the statements mean and how they are applied in the workplace. Secondly, I would recommend employees focus on the values that embrace......

Words: 1925 - Pages: 8

Hershey

...changes due to globalization and an aging workforce, it is important that these two groups come together for the common goals of the organization. Millennia’s have different values than baby boomers but this does not mean they cannot work well together. The result of redesigning the performance system will be to ensure each group is recognized and rewarded for their individual contributions, as well as their team contribution. Human resources first order of business will be to get input from both groups to determine where their strengths and opportunities lie. The human resources professional can do this by having focus groups for idea sharing. Another technique would be anonymous surveys that each group can provide feedback on their work experience. Lastly, recognition and the reward system can be evaluated to ensure it is equitable and ties into performance. The best way to approach the redesign is to look at the each group motivators and what they expect from an employer. Millennia’s have a “can-do” attitude and want continuous feedback from their manager (Heathfield, www.humanresources.about.com). Developing a performance management system that has frequent feedback sessions or quarterly reviews will assist in keeping your millennial employees engaged and motivated. Baby boomers are more traditional and value a formal structured working environment. They want face to face time with their boss and can be somewhat private individuals. This is an opportunity to develop a......

Words: 1124 - Pages: 5

The Hershey Company

...The Hershey Chocolate Company Table of Contents Board of Directors 1 Introduction 2 Report 3 Financial Report Card 9 Annual Report Board of Directors Pamela Arway- Senior Advisor to Chairman and CEO of American Express Robert Cavanaugh- Managing Director of DLJ Real Estate Capital Partners Charles Davis- CEO of Stone Point Capital, LLC James Nevels- Director of Tasty Baking Company Thomas Ridge- President and CEO of Ridge Global, LLC David Shedlarz- Vice President of Pfizer, Inc David West- President and CEO of The Hershey Company Leroy Zimmerman- Senior Counsel of Eckert, Seamans, Cherin, And Mellott, LLC The Hershey Company The Hershey Chocolate Company is one of the leading producers of chocolate and confectionary products. Hershey produces such chocolates as: the Hershey Kiss, Hershey Chocolate Bar, Mounds, Almond Joy, Reese’s Peanut Butter Cups, Kit Kat, and York Peppermint Patty. In this report we will give you the company’s mission, the description, the background and history, highlights of major news events, the SWOTS, their marketing strategy, their commitment to social responsibility, and the financial report card. Business 100 Project Amanda Milgim Ava Winckler Hossai Rahimpur Karen Montoya The Hershey Chocolate Company When you think of Hershey what is the first thing that comes to mind? Chocolate right? Right! Hershey is one of the largest and oldest......

Words: 2052 - Pages: 9