Strategic plan smuckers

SMUCKERS Strategic Plan SMUCKERS STRENGTH One of Smuckers greatest strength is to effectively manage their investment in human capital which has contributed to their continued success They believe that, “every employee makes a difference.” The company compensate their employees well by offering great benefits such as: complete healthcare package, employee assistance program (EAP), disability benefits, life insurance options, 401(k) Savings plan, holiday bonus, tuition costs reimbursement, scholarship program for employees’ children, adoption assistance, paid vacation, paid holiday and paid personal time off The company is also committed to providing equal opportunity to all employees and applicants Smuckers offers variety of training; design to enable employees to move up and grow within the company WORKING AT SMUCKERS A Career at Smucker • Our employees are passionate about preserving and strengthening our unique culture where every employee is proud to work and makes a difference • Ours is a simple but effective management approach that has stood the test of time, weathered complex business environments, and evolved with our business through the years •  This management approach is rooted in our People Basic Belief We firmly believe that: • Every employee makes a difference • An inclusive environment and diverse organization strengthens our Company and enables every employee to reach their full potential • Highest quality people produce the highest quality products and services • Highest business ethics require the highest personal ethics • Responsible people produce exceptional results •  Our culture is sustained and brought to life every day by the people of Smucker  Our Benefits • Personal well being is a way of life that leads to a more balanced, healthier, and happier you It is a path shaped by daily choices and it means something different for every individual Well being is important because it enables us to perform at our best — both at work and at home •   • Our focus as a Company is to: • Help employees and their families improve their physical, emotional, and financial well being, • Care for employees and families by providing the tools and resources to help you actively take responsibility, share in the cost, and make the best decisions regarding your personal well being, and • Provide programs and resources that are competitive, offer protection, and that respond to the changing needs of employees throughout their careers • We believe in the value of investing in an overall environment of health and well being because employee performance and business performance are so closely linked HEALTH & WELL BEING Smucker provides benefit opportunities that are focused on leading healthy lifestyles and that support the long-term health and well being of our employees and their families We offer a range of plans that include benefits such as: Heath care (including preventive) Prescription drug coverage Dental and vision Flexible Spending Account (FSA) Employee Assistance Program (EAP) Disability benefits Life insurance options As part of our focus on well being, we emphasize the need for employees to embrace healthy lifestyles We offer a variety of on-site programs such as medical resources health fairs, annual health screenings, and wellness education opportunities In addition, Smucker is a tobacco-free workplace To underscore the importance of leading a healthy lifestyle, we offer a financial incentive for employees who participate in our healthy lifestyle program FINANCIAL WELL BEING We offer several benefits and resources to help employees plan for an enriched career and achieve a financially secure retirement • • • • • • 401(k) Savings Plan, which matches 100% of your contribution up to 6% of your pay That means you’ll receive one dollar from Smucker for every dollar you contribute, up to 6% The match is invested in company stock Holiday bonus of 2% of your base pay Employee Stock Purchase Plan, which provides an opportunity to purchase shares of Smucker common stock Up to 100% reimbursement of tuition costs for Company-approved college courses Scholarship program for children of employees, which awards a $3,000 renewable scholarship to up to ten recipients each year Adoption assistance, which covers up to $5,000 in eligible adoption expenses Maintaining Balance Throughout Your Career   Smucker believes in providing support to our employees to help maintain balance and quality of life throughout all stages of our careers Our employees are offered a variety of benefits that help support work and life balance   All of our full-time employees are provided with paid vacation, holiday, and personal time benefits for time away from work for rest, relaxation, and the flexibility to care for personal needs We also provide maternity, paternity, and adoption leave Employee Development — A Culture of Growth WORK ENVIRONMENT We seek to create a warm, welcoming environment that facilitates open communication and interaction Our facilities provide a sense of community where people will be proud to gather, work, and learn from one another We will achieve our vision by focusing on preserving our culture, limiting our environmental impact, and being socially responsible   At Smucker, our work environment vision is centered on the idea of facilitating communication, community, and culture We know open and direct communication with and between our employees strengthens Relationships and our Ability to Implement Transparent communication builds trust, and we make communication a priority with all employees and at all levels of the organization   Relationship building is further supported through day-to-day interactions and the practice of “Management by Walking Around” wherever practical At Smucker, a face-to-face conversation is always preferable to relying solely on a report or an email   We are intentional about referring to both diversity and inclusion We believe that an inclusive environment and diverse organization strengthens our Company and enables every employee to reach their full potential We also believe that diversity and inclusion lead to better business results   Our approach to addressing business opportunities and challenges is inclusive and drives us to seek a wide range of perspectives and differing viewpoints When faced with business opportunities and challenges, we encourage our organization to ask, “What you think?” INTERNAL ANALYSIS • Strengths – Being the market leader in fruit jams – Sold in every grocery store – A well-established name – Employee satisfaction – A well develop supply chain in Restaurants INTERNAL ANALYSIS • Weaknesses – Decline in revenue for quarter by 4% – Weakness in volume – Stock shares down 10% from Octobers high of $112.92 EXTERNAL ANALYSIS • Opportunities – Co-branding with companies which use fruit filler – Increase in the market share of the younger consumers • Contracts with schools – Offering Sugar-free – Targeting baby-boomers and Health conscious people – Gluten Free – Organic EXTERNAL ANALYSIS • Threats – Competitors’ – Increase prices from growers which lead to less fruit in the products – Increase prices: coffee, peanut butter…ect – Substitute spreads such as butter and cream cheese EXECUTIVE SUMMARY Smuckers started from the fruit of Johnny Appleseed’s trees, Jerome Monroe Smuckers was the resident in Orrville, Ohio From the last 115 years smuckers have been serving to homes and restaurants The first fruit that was pressed was cider at a mill he opened in 1897 “Our Purpose of helping to bring families together to share memorable meals and moments” We follow our purpose with helping our employees This is means more to make high quality products and inspiring our employees than financial performance Our key to success is following these few basic steps thank you for a job well done, Listening with your full attention, looking for the good in others, and sense of humor We follow by our employees and to room to grow Our growth comes from our community Our Sustainability Strategy calls for us to create a better tomorrow by focusing on: • • • • Preserving our culture; Ensuring our long-term Economic viability Limiting our Environmental impact Being Socially responsible IMPLEMENTATION of STRATEGIC PLAN 1) Marketing – a) Customer Engagement – Hold national taste testing promotions and allow customers to vote on the newest flavor of fruit spread Vote using social media (Facebook and Twitter) 2) MIS (technology, use of new technology) – a) Internet – Create an online market/website where customers can invent their own flavor or make personalized fruit spreads   – b) Smartphone App – Create an application that both consumers and business can use for the ordering process The app will also aid in the creation/personalization of fruit spreads One touch ordering CONCLUSION • Where will the company be years from now: – – – Primarily use USA grown produce in fruit spreads Further explore and be the front runner for organically grown produce in fruit spreads Joint ventures with compliment companies (peanut butter, bread, cream cheese) to produce products that will appeal to the global market  ... cheese EXECUTIVE SUMMARY Smuckers started from the fruit of Johnny Appleseed’s trees, Jerome Monroe Smuckers was the resident in Orrville, Ohio From the last 115 years smuckers have been serving... opportunity to all employees and applicants Smuckers offers variety of training; design to enable employees to move up and grow within the company WORKING AT SMUCKERS A Career at Smucker • Our employees... several benefits and resources to help employees plan for an enriched career and achieve a financially secure retirement • • • • • • 401(k) Savings Plan, which matches 100% of your contribution