Kellogs公司的经营战略分析.ppt

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * Kelloggs How it began 1906-incorporate battle creek toasted corn flakes company 1930- set up W.K kellogg foundation 1950s-new range of products for different taste.Introduced kellogg frosties 1978-2nd factory opened in UK to manufacture kellogg corn flake,krispies all bran. 1996-acquisition of Lenders Bagel from krafts foods. 2001-acquisition of Kebbler. Kellogg 2nd largest cookie and snack manufacturer after Kraft foods. 2005- manufactured in 17 countries marketed in 180 countries. Range of Products in Cereal Market The Different Products : PROFITABILITY RATIOS SOLVENCY RATIOS LIQUIDITY RATIOS PRICE PER EARNINGS Stakeholder mapping-power interest mapping Power Interest low high Low High Kraft Ltd Pepsi Co General mills Community Supplier Legal Bodies Government Advertisers media Consumers W.K Kellog foundation Shareholders Implication to Stakeholders Competitors(High power Low interest)- Kelloggs average 5 yrs 2001-2005 gross margin 46.5% net profit margin of 16.7% is higher than industry average of 32.9% 7%. Higher margins enabled Kelloggs to provide better returns than its competitors( ROCE ROSF is 16.55% 20.73% in 05). Henceforth Kelloggs position as the no1 global cereal mkt share with 37.6% share is maintained difficult for competitors to compete with kelloggs as kellogs margin are higher than industry average. Shareholders (High power High interest)- EPS ratio is 2.38 Substantial growth for past 5 yrs. Kelloggs target is for EPS to increase every yr at a high single digit. Therefore increase confidence of investor to further invest into kelloggs. Implication to stakeholders (cont)? Suppliers – kelloggs creditors days is 57 days for 05 53 days for 04. No significant change in no of days to pay supplier means kelloggs has negotiated better terms of credit with its suppliers. Customers -debtors days is 31 days for 05 29 for 04. means kelloggs collection period with hypermanrkets chain supermk