Essay about Ghana and Companies
Grace Kennedy was established 88 years ago as a small privately owned trading company. Since that time it has expanded and diversified and become a publicly traded conglomerate with 60 subsidiaries involved in several industries including financial, insurance, remittance, hardware retailing, food processing and food distribution. These subsidiaries are spread throughout the Caribbean and the United Kingdom. In 1995 Grace Kennedy formulated its 2020 vision with the objective to transform itself from a Jamaican trading company to a global consumer group with roots in Jamaica. 2006 saw this vision being broadened as the company undertook a strategic reorganization under the theme “designing Grace Kennedy for the 21st …show more content…
GRACE’S MISSION STATEMENT
The mission of Grace Kennedy is “To satisfy the unmet needs of Caribbean people wherever we live in the world”.
While the mission suggests a restriction to Caribbean people, their 20/20 vision is to transform the company from being a Jamaican trading company to a global consumer group. This has led them to find homogenous markets where tastes and habits are similar to that of the Caribbean Diaspora. This would facilitate the company making very little adjustments to their core offering.
Thus the export initiative to Ghana fits into this total vision of the company.
RECOMMENDED STRATEGIES FOR GRACE FOODS USING PORTER’S GENERIC COMPETITIVE STRATEGIES
Cost and Differentiation Strategy
The recommended strategy is a combination of cost and differentiation. Combining both strategies can be thought of in some circles as having no strategy. However the argument also exists that cost efficient firms already