Core Values Case Study

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AC 5.1. Compare core organizational values (ethical, cultural, environmental, social and business) with the current business objectives of an organization. Every company, big or small, has core values. Core values are the basis upon which the members of a company make decisions, plan strategies, and interact with each other and their stakeholders (Catlin-Legutko and Klingler, 2012). A stakeholder is any person or organization that is impacted in some way by the company. Core values reflect what is important to the organization and its members (Essex, 2016). These core values can also be based on ethical, cultural, environmental, social and business of an organization. Essex (2016) states that core values are not necessarily dependent on the…show more content…
Grace Kennedy Foods has lived their core values for years through their products, services, staff, communities and stakeholders. They have aligned their values with their current goals and objectives. As stated by (2016), corporate and companies core values such as honesty and integrity is doing the right things for the right reasons, and treating people fairly and with respect are core values within corporate culture. They believe that running a business, and certainly a public company, carries with it a responsibility to be above reproach when making operational and financial decisions. As Grace Kennedy Limited Annual Report (2012) indicated the volumes have benefited from the continued focus on innovation, and it is fully recognizable that this is necessary to ensure that the needs of the consumers are met. The economic environment in Jamaica was characterized by low inflation, slow growth and devaluation in the Jamaican dollar of 8% against the US dollar. These factors, in addition to more cautious consumer spending, resulted in the Jamaican market growing by 7%. The decisions made in 2014 are expected to result in a more robust and profitable domestic…show more content…
In addition our European and Canadian businesses continue to solidify their market position. Implementation of Global Category Management Global Category Management has been rolled out and the implementation thus far has been satisfactory. Growth in our African business Africa is growing at a significant rate, and we continue to invest in this market, with the expectation of continued growth in coming years. Increased penetration in Continental Europe We had impressive growth in Europe, buoyed by increased listings across Continental Europe and the strong performance of our Grace brand - specifically our beverages - in the United Kingdom. Strengthening of our Jamaican businesses The performance in Jamaica was satisfactory given the challenges. While revenue increased, profits declined because of reduced margins partially associated with the depreciation of the Jamaican currency. We have made significant investments during 2014 which we expect to begin yielding returns in 2015 AC 5.2. Develop appropriate vision and mission statements for an

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