Tyson Foods Synopis and Mission Statement
Tyson Foods Synopis and Mission Statement BY ss834510 Tyson Foods, Inc. Synopsis Statistics show that the world population is expected to reach 9. 2 billion by 2050. With a drastic increase in inhabitants on Earth, demand for food will also significantly increase. Thus, agriculture is on the forefront to fulfill this need. Tyson Foods is already on the Fortune 500 as the second largest food manufacturing corporation and is also on the S&P 500. This company produces and packages a large selection of beef, poultry, and pork products that provide convenience to its consumers.
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These products are then sold to food retailers throughout the United States and in over 90 countries around the world. While producing and packaging food ties into making a profit, Tyson Foods takes large strides to insure its consumers of its quality food products. The company’s Food Wise program educates its consumers on how to prepare food properly, establishes labeling and tracking systems, and helps to sponsor the National Restaurant Association Educational Foundation and the Food Marketing Institute Foundation. Furthermore, Tyson extends itself through umanitarian efforts to help with hunger and disaster relief.
Since 2000, the company has donated over 50 million pounds of its products to help those in need. Moreover, Tyson promotes environmental stewardship by implementing an environmental management system to all of its domestic processing plants, encouraging natural farming techniques, presenting awards to the beef, pork, and poultry producers who have exhibited outstanding environmental conservation, and acting on water and greenhouse gas concerns. History of the Company Tyson Foods was founded in 1935 and is headquartered in Springdale, Arkansas.
In the early 1930’s John Tyson hauled his first load of chickens to Chicago and sold them for a profit of $235. Tyson foods was already starting to vertically integrate in the late 1930’s when John Tyson bought a hatchery and built a feed mill. In 1947, Tyson became a corporate company, which was named Tyson Feed and Hatchery. Tyson now sold baby chicks and feed and transported poultry to markets. Don Tyson left college and began running the company as general manager in 1952. During the 50’s, disease and changing markets left the industry unpredictable.
Tyson overcame he market, and annual sales reached $1 million with the hatchery producing 12,000 chicks per week. Tyson built his first processing plant in Springdale for $90,000 in 1957. In 1961, cost exceeded broiler prices for eight and a half months, so they entered the commercial egg business. Tyson Feed and Hatchery went public selling 100,000 shares of stock for $10. 50 per share and changing their name to Tyson Foods in 1963. Tyson Foods purchased Garrett Poultry Company in Rogers, Arkansas, and decided to use an “expand or expire strategy. ” In 1966, Don became President of the company.
The following year John and his wife were killed in a car accident in Springdale. Tyson Foods made the Fortune 1000 with $72 million in sales and and was the nation’s largest pork producer by 1979. Tyson Foods, Inc. made several acquisitions to grow the company; by 1982 it made the Fortune 500 list. Tyson purchased Holly Farms in 1989, doubling in size with $2. 5 billion in sales and now processing beef and pork. Tyson acquired two seafood companies in 1992 and three years later bought both of Cargill’s broiler operations and McCarty Farms, Inc. Tyson acquired several companies throughout the rest of the 90’s.
Tyson Foods Inc. turned 65 years old and made John Tyson CEO of the company in 2000. One year later Tyson Foods became the largest processor of beef, pork and chicken at the time because of the acquisition of IBP. Mission and Vision Statement Tyson’s mission states, “Our mission is to produce and market trusted quality food products that fit todays changing lifestyles and to attract, reward, and retain the best people in the food industry. ” This statement tells the investors and consumers that Tyson is aiming to provide consumers with what they need and want while using high standards to insure safe products.
The company also strives to employee only the best people who will be dependable, trustworthy, knowledgeable, and reliable enough to make the best decisions for the business. “Our vision is to be the world’s first choice for protein solutions while maximizing shareholder value, living our Core Values and fostering a fun place to work. ” Tyson’s vision clearly states that they want to be the number one food processing company in the world. The company hopes to expand their services and market even further; thus, profit would also be expected to increase which would in turn increase hareholder wealth.
The Core Values emphasizes the importance of diverse, honorable people; environmental stewardship; and consistent profits for shareholders that are achieved with integrity, dependability, and respect to one another. Tyson Foods focuses on four major strategies in order to achieve their goals. First, new industry demanded food products must be created. This will give Tyson a strong competitive advantage in the food processing industry. Second, each of the three protein areas is expected to be expanded and the margins closely upervised for the assurance of continued profits and success.