An Introduction to the History of the Campbell Soup Company Essay

The Campbell Soup CompanyThe Campbell Soup Company has evolved into one of the strongest food companies on the market today. For the past two decades, the company has employed three different CEOs with three different strategies. In my analysis, I will show with each CEO and each new strategy, how Campbell has managed to turn its obstacles into opportunities and remain ahead of its competitors. George McGovern brought a corporate strategy that focused on satisfying the consumers' expectations, developing new products, maintaining high standards of quality, and expanding the business with an acquisition strategy. The main focus was to deliver what the consumer wanted in convenience food. The main desires were identified as nutrition in the food, convenience, price, quality, and uniqueness. Business managers were expected to fulfill these desires and improve or change as needed. McGovern's strategy for each business unit focused on improving operating efficiency, developing new products according to ever-changing trends, updating advertising for both new and present products, and of course high standards regarding quality. McGovern implemented a five-year plan that included four financial objectives. He wanted to see a 15 annual increase in earnings, a 5 increase in volume, a 5 increase in sales, and an 18 return in equity by 1986. The highlights of his plan were developing and introducing new products, and acquiring new divisions in the business that would bring at least 200 million dollar sales a year. His plan seemed to work, at least for a short time. By the end of 1984, sales were up by 31, a total of 3.7 billion dollars! Earnings increased by 47, to a total of 191 million!McGovern preached customer satisfaction, and demanded high production quality, but his main focus was growth through new product development and acquisition. During his time at Campbell, the company introduced 922 new products. This is more than any other food company. McGovern was consistently looking into research for answers to remedy troubled divisions. Pepperidge...

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