Classmates and Professor,
General Mills has employed the corporate strategy that utilizes the Porterâ€s Generic Competitive Strategies which provides the various distinction of strategies that pertains to production and deals directly on the specific attributes of the merchandise. They also provide a positive corporate-level administrative practice. General Millsâ€ corporate-level strategies would be: Competing effectively, accelerating the growth, and reshaping the portfolio for growth (General Mills Inc., 2018). The Porterâ€s Generic Competitive Strategies also contains and carries the cost leadership strategy that forces the company to work directly towards a relatively abundant portion of the market and utilizes these strategies to convince and assure their consumers that the company assists and supports by giving more quality products than their adversaries in the business market. The strategic choices are also coordinated and aligned to target the changes made from the companyâ€s outlook to become a major food producer. The company is highly devoted to establishing a long-lasting partnership and a direct connection with the farmers for business.
General Mills uses the strategic choice model to estimate its sale volumes as well as the services that they provide in the target markets (Warnock, 2000). By the use and implementation of the strategic model, General Mills is able to outdo its competitors thereby gaining a larger market share in the business industry (Akan, Allen, Helms, & Spralls, 2006). General Mills has also dedicated itself to making sure that partnerships are maintained to making sure that there is enough supply chain and effective management while converting the regular product to a natural product. When the company changes its requirements for a better and healthier food product in the United States, it will also increase certain demands for them to meet. General Mills will have sufficient assets to meet the developing interest of consumers which is expected to have a higher sales volume in the next couple of years (Ireland, 2012).
Akan, O., Allen, R. S., Helms, M. M., & Spralls, S. A. (2006). Critical tactics for implementing porter’s generic strategies. The Journal of Business Strategy, 27(1), 43-53.
General Mills Inc. (2018, July 11). General Mills Details Global Growth Priorities at Company’s Annual Investor Day. Retrieved from General Mills: https://investors.generalmills.com/press-releases/…
Ireland, D. R. (2012). Understanding Business Strategy; Concepts Plus, 3d ed.(Vol. 27). Portland, OH, USA: South-Western.
Ormanidhi, O., & Stringa, O. (2008). Porter’s model of generic competitive strategies. In Business Economics(Vol. 43, pp. 55-64). EBSCO – Business Source Complete.
Warnock, D. (2000). Understanding Strategy: Strategy & Leadership(Vol. 28). Chicago: ProQuest.
RESPONSE THAT NEEDS ANSWER:
Your quote “General Mills uses the strategic choice model to estimate its sale volumes as well as the services that they provide in the target markets (Warnock, 2000)” really caught my eye. I found so many examples of General Mills engaging in various activities that I came to the conclusion that if I searched hard enough, I can find an example that supports almost any technique. I read plenty of material about focusing on growth, but most large companies’ should be focused on growth in mature markets. (Claessens, 2015). Right? What’s your opinion?
The more I read about General Mills and attempt to get to the bottom of this Strategy assessment, the more I believe they are trying to cut cost and try to gain market share.
Claessens, M. (2015). Product Life Cycle Stages (PLC). Managing the product life cycle. Marketing-Insider. Retrieved on 12 August from https://marketing-insider.eu/product-life-cycle-stages/
(PLEASE RESPONSE TO LAST DISCUSSION ONLY with 175 words and provide 2 references.)
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