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Financial planning and implementing applications
Financial planning and implementing applications
Financial Planning Principles and Processes
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Contents Kraft’s Foods Inc. financial planning: 2 What is financial planning and budget? 2 Initial step of budget or financial planning: 3 Financial Panning of Kraft’s Food Inc: 4 General business activity of Kraft’s food: 4 Budgeting Plan of Kraft’s Food: 5 Budgeting Plan of Kraft’s Food: 6 Cash flow and previous forecast: 6 Previous forecast and future budgeting: 7 Variance Analysis: 8 Net Revenues of the past years: 9 Why Zero based budgeting system: 11 Sourcing: 11 Reducing the Complications in sourcing: 12 Risk management strategy: 13 Employee benefits: 13 Insurance policy: 14 Success of the plan In Kraft’s Food Corporation the planning analyst and the other business departments work together in close communication. This aids in the development of a system that allows business activities to align with the corporate goals and targets. The company is also building its performance around successful people by assuring that the plan is tied with the system that involves the use of practically tested strategies. Shared decisions of all the departments including finance and production departments help adding value to the business by improving its competitive place in the market. 14 The role of Accountant at Kraft’s Foods Budget planning: 14 Effect on employees: 15 Benefits generated from the above budgeting plan: 16 Bibliography 18 APPENDICES A 19 Appendices B 20 Kraft’s Foods Inc. financial planning: Kraft’s Food Inc. is the world’s second largest food manufacturing company that provides numerous food items to its customers. The company is headquartered in the US but its subsidiaries are present in the UK and Canada as well form where it generated subsequent portion of its revenues. Kraft’s Food ... ... middle of paper ... ...ting margin 12.2% 11.5% 13.4% Interest and other expense, net 1,885 2,024 1,237 Net earnings attributable 3,527 4,114 3,021 Appendices B Maximum revenue generation areas: December 29, December 31, December 31, 2012 2011 2010 Cheese and dairy 31% 30% 29% Meat and meat alternatives 15% 15% 14% Meals 11% 10% 10% Enhancers 10% 10% 10% Refreshment beverages 10% 11% 10% Coffee 8% 9% 11%
Kraft Foods was founded as a cheese manufacturer in 1903. They had evolved into North America’s largest food and beverage company and the number two player in the world. They grew to have operations in more than 155 countries by 2004. Kraft consisted of two operations, Kraft Foods North America and Kraft Foods International, and its business was divided into five product categories. These categories are beverages, convenience meals, cheese, grocery, and snacks. The Kraft brand portfolio was among the strongest of the global consumer packaged goods with 50 $100-million brands and 5 $1 billion dollar brands. Kraft also has a strong distribution network and well-earned reputation for developing innovative new products and food applications.
Customer loyalty is another competitive advantage. Trader Joe’s doesn’t provide membership card to the customer, however customer still would like to choose Trader Joe’s just because of this
For any organization, planning, the first step in the four management functions, is very significant to reach success. During the planning process, organizations establish goals for expectations on performance and then decide on how to reach that specific goal. For example, increasing sales each year is Pacsun's year long goal. The stores keep all of their sales reports, return logs, and exchange records for each day, so when that same business day comes around again the following year, each store knows exactly how many sales they need to have to increase sales for the current year. They also keep track of each store's average dollar amount per sale and how many units are being sold through each transact...
Smithfield Foods is a forward-thinking company that likes to be the industry leader. The main way to for them to achieve and maintain this goal is to utilize both the Six Sigma and lean philosophies. Merging lean with Six Sigma provides the company “a richer set of tools, particularly those associated with the define, measure and analyze phases. Likewise, the lean tools nicely complement the traditional Six Sigma tools and methodologies” (Meredith, p. 198). Smithfield needs the help of employees to keep these process improvements in motion and to make sure the improvements that have been implemented are actually effective. Thus, always working towards their goal of producing “Good food, responsibly.”
We have carried out a study on the F.M.C.G Company Heinz. Heinz is the most global U.S based food company, with a world-class portfolio of powerful brands holding number 1 and number 2 market positions in more than 50 worldwide markets. There are many other famous brand names in the company¡¦s portfolio besides Heinz itself, StarKist, Ore-Ida, Plasmon, and Watties. In fact, Heinz owns more than 200 brands around the world and makes over 5,700 varieties.
Cadbury as an international business have chosen to develop a variety of different styles of operations in accordance to the type of product, the stage of production and the location in which it is taking place.
Yum! is an American fast food company and one of the world’s largest fast food restaurant companies with presence in over 125 countries, operating the licensed brands which are famous worldwide e.g. KFC (Kentucky Fried Chicken), Taco Bell, Pizza Hut, A&W Restaurants, Long John Silver’s and the Wing Street.
McDonald's Corporation is the largest fast-food operator in the World and was originally formed in 1955 after Ray Kroc pitched the idea of opening up several restaurants based on the original owned by Dick and Mac McDonald. McDonald's went public in 1965 and introduced its flagship product, the Big Mac, in 1968. Today, McDonald's operates more than 30,000 restaurants in over 100 countries and have one of the world's most widely known brand names. McDonald's sales hit $57 billion company-wide and over $25 billion in the United States in 2006 (S&P).
A family owned business Braswell Foods, since 1942, has produced and marketed high quality of organic egg products for American consumers and businesses. It was first franchised under Eggland’s Best in the United States that was certified by the American Humane Association and received the ISO 14001 Certification. The Braswell family continued to be a valuable and supporting supplier to well-known retailers around the nation; until 1989, Braswell Foods became one the largest egg producers in the States by leading the highest standards of quality.
The transnational corporation Nestle Company founded in 1886 based in Vevey, Switzerland, sells its products in 189 countries and has manufacturing plants in 89 countries around the world, boasting an unmatched geographic presence. The company started off as an alternative to breastmilk and initially looked into other countries for an increase in global opportunities. It founded its first out of country offices in London in 1868, and due to the small size and inability of Switzerland to compensate growth manufacturing plants were built in both Britain and the United states in the late nineteenth century. A large portion of Nestlé’s globalization came in the 1900s which was when it first moved into the chocolate business after
Have a very long history over 140 years Operated factories in 77 countries in all six continents, a truly global company Considered the innovation leader in the global food and nutrition sector with 3500scientists in company R&D network Offering thousands of local products, research and development capabilities.
The above mentioned data explains the provide chain management process with Engro Foods (Pvt) Ltd. These kind of activities may be split straight into several all encompassing types likewise:
H.J. Heinz Company, basic philosophy is “Good Food Every Day” ,and it is one of the world’s leading marketers and producers of convenient, healthy and affordable foods specializing in ketchups, sauces, soups ,meals, snacks and infant nutrition. Heinz provides superior quality taste and nutrition for each and every occasions whether in the home or in a restaurant or in the office or “on-the-go.” Heinz is a globally recognized leading branded products, which includes Heinz Ketchup, sauces, soups, pastas, beans and infant f...
According to Kraft’s 10-K, they have also seen their revenue decline every year since 2011. Kraft still remains one of the major players in the consumer packaged food and beverage industries but it is obvious that there is room for
In 2011 PepsiCo announced the launch of their Social Vending System. This system featured a full touch interactive screen. A consumer can select a beverage and enter the reciepent's name, mobile number, and personalized message and gift it with a video. PepsiCo uses technology to their advantage for global implementation.The company uses media sites in multiple was as advertisement and marketing tools.