5-2 final project copy OL

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Management

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Feb 20, 2024

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5-2 Final Project One Submission: Application of the Fundamental Principles of Management for a Successful Company OL-215-J3407 Principles of Management 24EW3 Instructor February 9, 2024

Introduction: The successful company I chose is Campbell’s Soup Company. This paper will go further into the company’s success by discussing their mission and vision, strategic management plan, organizational culture, decision making process, principles of ethics, and human resources. Mission and Vision: The Mission of the Campbell’s Soup Company is “To nourish peoples lives by offering a variety of high-quality and nutritious products that meet their needs and preferences.” Their vision is “To be the leading food company, the offers trusted brands and create a healthier future for all.” The company communicates its mission and vision with their employees by first creating teams where people come first, that are diverse, and where team members expect excellence. Campbell’s Soup Company also encourages employees to think outside the box, take initiative and be problem solvers. Strategic management plan: The Campbell’s Soup Company’s strategic plan is “building a winning team and culture, accelerating profitable growth, fueling investments and margins with targeted cost savings, and delivering on the promise of our purpose. ” The company continues to grow their strategic plan while driving growth, keeping true to their purpose, and maintaining the legacy for costumers and stakeholders. Campbell’s Soup company’s strategy also includes using their earnings to help others, they have donated $9M to COVID 19 relief, $1.5M to promote diversity, and $56.4M in food and funds to support the community. Organizational culture: Campbell’s Soup company nurtures a supportive, inclusive, diverse environment where employees are encouraged to be themselves. They empower workers to thrive not only professionally but also personally and create a culture with opportunities for employees to reach their highest potential. The president and CEO of Campbell’s Soup Company

Mark Clouse simply said, “We are committed to building a winning culture that fosters inclusivity in the workplace by listening to, learning from, and understanding one another in every interaction.” Decision making: The Campbell’s Soup company’s leadership team recently discussed the next phase of their strategy to grow profitability. During the meeting the CEO, Mark Clouse, emphasized having a strong foundation with a focused and unique portfolio, a solid path to creating cash flow, and updated priorities. I think Campbell’s Soup Company’s success has much to do with their leadership and prioritizing customer experience while decision making. Valerie Oswalt, president of the snack devision wants to increase margins while keeping customers at the forefront. At the leadership meeting Valerie says, “our portfolio of brands is well-positioned to meet customers, desire of for elevated, snacking experiences.” Principles of ethics: Campbell’s Soup Company has five main values they call “The 5 Cs of Campbell’s”. One of the 5Cs is Care, under care Campbells pledges to act with integrity, transparency, and to be accountable for their actions. The Campbell’s Soup Company’s ethics also include taking care of their employees and fostering “a workplace where employees are treated with respect, courtesy, and dignity.” (n.d, 2021) Human Resources: Campbell’s Soup Company wants to empower employees to feel like they sincerely belong there. Campbell’s strives to build a safety focused culture that provides a multitude of resources and benefits to support their employees while at work, and at every stage of life. Campbell’s is “committed to ensuring our company is a great place to work and prioritizing the safety and well-being of our employees each and every day.” (n.d) Saad Qureshi, Human Resources manager at Campbell’s Soup Company, shared ways the company enhanced employee engagement by having honest communication even when you don’t have answers.

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Saad likes to talk to employees even about just how their day is going, which he is trying to make a new norm because most people, unfortunately, believe something is wrong when HR shows up. Campbell’s HR team also gives employees the opportunity to give back to the community by matching charitable donations to a cause of their choice, this creates a partnership with the community and promotes growth. They keep employees motivated by having upfront communication and benefits where employees and their families are taught ways to reach a healthy work-life balance. Saad believes that human resources shouldn’t be one-size-fits-all and that HR professionals should involve employees in the conversation to hear firsthand what works and what doesn’t. Saad believes in being open to learning from employees because, after all, they are the ones working everyday on the production floors. Saad wants to create a partnership across all the organization that allows for a merge of cultures, openness, and employee retention. Conclusion: All together, the Campbell’s Soup Company believes in empowering employees to thrive. It’s clear that the Campbell’s Soup Company believes in the empowerment principle of management. They enable individuals to take action and think for themselves autonomously. They ensure optimal performance by creating an inclusive, high-performance culture, that allows employees to feel safe, valued, and supported. Employees are able to blossom and perform their best work. In their decision-making Campbell’s Soup Company continues to put others first even while striving for higher profitability. The company keeps customers at the forefront when making business decisions or changes in products. I believe that Campbell’s Soup Company has a clear mission that resonates throughout the entire company. A great part of their success is due to their ability to communicate and understand their shared common goal. Overall, the company’s decision-making strategies are consistent with their

management approach. They are looking to better people lives, not only for customers through their products, but also that of their employees by fostering opportunities for growth.

About Us. (n.d.). Campbell Soup Company. https://www.campbellsoupcompany.com/about-us/ Bauer, T., Erdogan, B., & Short, J. (2021). Principles of Management (5th ed.). https://scholar.flatworldknowledge.com/books/34758/e527.fwk127513-ch16_s07/ read#carpenter_4-34371-20210506-210431-171382 Campbell’s HR Strategies to Improve the Employee Experience. (2022, April 7). AlertMedia. https://www.alertmedia.com/blog/campbells-hr-strategies/ CODE OF BUSINESS CONDUCT AND ETHICS . (n.d.). https://s27.q4cdn.com/108522393/files/governance_doc/CAMPBELL_COBCE_EXT_FI NAL_2021_web.pdf The4. (n.d.). Mission Statement, Vision, & Core Values (2023) of Campbell Soup Company (CPB). Dcf-Fm. https://dcf.fm/blogs/blog/cpb-mission-vision#:~:text=Mission %20Statement%3A%20To%20nourish%20people Thriving People. (n.d.). Campbell Soup Company. https://www.campbellsoupcompany.com/our- impact/thriving-people/

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5-2 final project copy OL

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