Nestlé’s corporate culture, with its stakeholders, customers, and environment, is highly efficient with high standards. Each day Nestlé strives to make its products healthier and tastier. However, this cannot be accomplished without Research & Development capability and nutrition science. Nestlé’s mission is that it should be the world’s largest nutrition and healthy food provider company. Their slogan is “Good food. Good Life,” and the mission is to provide consumers with the best tasting, nutritious products.
Nestlé is committed to bringing continuous change to new products and existing products and the continuous improvement of its management, leadership, manufacturing, innovation, product development, and research.
Nestlé has six strategies, which are as follows:
- Give a front seat to your ideas, and put the sources behind, Health and wellness of a leadership
- Check the opportunity, in trends and change
- Value your consumer
- Put your stakeholders and consumer engage
- Make sure the connection is deepened, consumers
- Right people and the right capabilities for leadership
The Strengths, Weaknesses, Opportunities, and Threats analysis for creative and innovative management of Nestlé include:
- Leading the market,
- Loyalty in a brand,
- Different distribution channels,
- Different innovation in the brand,
- Skilled labor.
- The target market is only for the higher class,
- Operations complexity,
- Scandals like child labor, horse meat, etc.
- High credibility
- Potential to spread in small towns,
- Trends which are improving,
- Leadership to industry,
- The partnership can be increased,
- Different products and their offerings
- The biggest competitors are in the market,
- Raw materials and their increasing price,
- Rivals knew as Unilever, Master food, and Kraft,
- Products which are the substitute,
- Buyers’ bargaining powers.
The PESTLE (Political, Economic, Social, Technological, Legal, Environmental) analysis for creative and innovative management of Nestlé include:
- Food standards, marketing actions, and changing regulations,
- The process of internationalization,
- New global changes.
- Must know economics, inflammation, and levels of income.
- The sudden change of budgets consumer.
- The rise in the price of goods and materials.
- Step forwards towards healthy products, supportive, healthy diet
- Changing lifestyle
- Knowledge of the behavior of a consumer
- Interacting with firms, social media rise
- By technological developments, innovation is fulfilled
- Changing the nature of regulation. Change like regulations
- Changes of law from different or across the international markets
- Increased attention directed towards corporate social responsibility
- Increased in social responsibility
- of consumers regarding the environment
Assess the risks and benefits of creative and innovative management ideas
Management of risk can establish creative and innovative management. Risk management is an assessment and identification of resources of application to neglect unforeseen circumstances. Risk measures have their role in an organization to deal with innovative and creative management. That is why Nestlé is working to manage the risk across multi-national operations. In this case, Nestlé has introduced web-based active risk managers around the globe to share their information and be updated sufficiently. Therefore, it is necessary to examine all sub-factors in the risk process:
Technical feasibility increases the risk. Advanced technology and obstacles in Research & Development are additional risks in technology innovation.
Market risk arises from uncertain market size and competitive industry. Market risk includes customer demands, the economy, and product competition.
Lack of capital and lack of financial management of finance is the most concerning financial risk factors.
External environment risk
External environment risk usually arises from the political, social, economic, and technological environments. All of these factors create a gateway to the external environment.
All organizations prefer change and growth, but that change can be different. The change could happen by the external forces, or if the company feels that they are not working effectively, they need to enact change. Therefore, change models very for an organization. Models to support the implementation of creative and innovative management ideas can be applied. For organizational improvement, the Initiating, Diagnosing, Establishing, Acting, and Learning (IDEAL) model can be used for planning, initiating, and enacting improvement. Therefore, an organization that uses an IDEAL model for the process of implementation provides a space for the firms to successfully establish an improvement.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.