INTRODUCTION

An organizational study refers to the complete understanding of an organization in all dimensions. PepsiCo has grown to become one of the best-known, most-loved products in India.

The study includes the brief study of the core departments of PepsiCo Mamandur plant. Different officials working in various departments have provided very important data in this report. Every effort has been made to understand the function and activities of various departments as well as the manufacturing process. PepsiCo is a global food and beverage leader with net revenues of more than $65 billion and a product portfolio that includes 22 brands that generate more than $1 billion each in annual retail sales

PepsiCo entered India in 1989 and in a short period, has grown into one of the largest and fastest growing food and beverage businesses in the country. PepsiCo India’s growth has been guided by PepsiCo’s global vision of “Performance with Purpose”. This means that while businesses maximize shareholder value, they have a responsibility to all the stakeholders, including the communities in which they operate, the consumers they serve and the environment whose resources they use.

OBJECTIVES OF THE STUDY

To know how an organization performs as a whole. To study the functional departments. To know how different departments function. To know how a department communicates when any order is received. To study the levels of participation. To study the effectiveness of various forums. To study the management-worker relationship. To study the performance appraisal system. To study the different processes and the developments of PepsiCo.

SOURCES OF DATA

PRIMARY DATA

Informal Interviews Observation

SECONDARY DATA

Text books Articles Journals Websites Interview with workers and management representatives Company files Company reports and records Personnel manual and texts

SCOPE

The scope of the study is to understand the functions of various levels of managements, departments and the organizations as a whole. It is also used to analyze the company policies and their implications in the organization. To analyze the various activities carried out in each department and how it helps for the smooth running of the organization by achieving its key goals.

LIMITATIONS

Time was a major constraint because 5 weeks was not sufficient to study the whole organizational structure.

Top management cooperation was not sufficient due to their pre-occupied work

The response of the employees in giving information was Luke-warm.

PROFILE OF THE STUDY

INDUSTRY PROFILE

India has a population of more than 1.150 Billions which is just behind China. According to the estimates, by 2030 India population will be around 1.450 Billion and will surpass China to become the World largest in terms of population. Beverage Industry which is directly related to the population is expected to maintain a robust growth rate.

The price stability throughout the year has contributed to the increase in domestic liquor sales. The Indian beverage market offers hot options. According to Dabur, the fruit beverages industry in India now stands at Rs 1100crores (approx. Euro 180 million) and the market has grown at the rate of 30% where Dabur India, through the new launch Real Burst, is looking at establishing a market share of 4-5% in next 2-3 years. Part of the industry of fast moving consumer goods is also the beverage industry. The total beverage industry in India is being estimated to grow at 17% this year, according to experts. "Food and beverages segment has not suffered despite the slowdown in the economy. FMCG in our stores has done very well. In fact, we registered 10-15% growth in this segment last year," said a spokesperson at Spencer’s Retail Ltd. Beverage majors like Coca Cola India, for example, again reported growing sales.

Coca-Cola in India reported a solid first quarter 2009 results not only despite a challenging economic environment, but also with unit case volume increasing by31%. And eight quarters out of the 11 quarters had a double-digit growth. To foreign observers of the market, these figures might sound unbelievable, as Western markets are saturated and have not seen such figures for long time. But in India, various positive factors drive the beverage markets. One is the rising number of people in the middle class with extra money to spend on new beverages like wine, new brands of imported whiskey, or the fancy energy drinks, some of which are really good to enable people to work longer, to listen longer during conferences, and even to party longer and have fun. Leader in this segment is Red Bull, but some other good and very effective drinks – one even very healthy - are

already or soon entering the market. Another factor is the sheer size of the number of people in India.

Even the rural households, as long as the monsoon is good, get purchasing power and can participate in consumer markets. Where ever the purchasing power is still not big enough, companies offer smaller packs for Rs. 10 or Rs. 5, especially to be seen in the snack market. Hot summers in India also help a bit to sell beverages. The large untapped market potential for store-bought non-alcoholic beverages, in particular carbonated beverages, juice based drinks and energy or sports drinks among urban/suburban consumers in India. Approximately 120 billion liters of beverages are consumed by Indians every year, but only 5% represent store-bought packaged beverages. The majority of Indian consumers (75%) still consume non-alcoholic store-bought beverages ‘less than once a day’, highlighting a large untapped market opportunity, particularly in the carbonated drinks and juice or juice-based categories (estimated to be worth $1.5Billion and $.25 billion respectively).

In order to increase consumption and penetration of such beverages manufacturers will have to address the two primary reasons why some Indians abstain entirely, that is, health concerns and undesirable taste. The study investigates consumption frequency and habits, the importance of various product attributes, and brand preferences across age, household income, city in India and beverage category. This study has implications for manufacturers, distributors, retailers and investors hoping to capitalize on the growth of these beverage categories in India and distinguish themselves in the increasingly crowded marketplace. India is a booming market for the beverage industry as well. It already accounts for about ten per cent of global beverage consumption today. This means that the country has the third-largest beverage consumption after the USA and China. But that is not the end of the road. Market analyses indicate that beverage sales in India will be increasing by more than 60 per cent between 2008 and 2012. Since India is (still) a country of tea and coffee drinkers, packaged cold drinks have enormous potential. Packaged water, beer, spirits and carbonated drinks are recording what rates are in some cases high double-digit growth. All in all, annual per capita consumption of packaged beverages is supposed to triple from 2.6 liters in 2000 to8.7 liters in 2012.Demand for milk and milk-based beverages are also rising.

India is the world’s biggest producer and consumer of milk, since milk plays a major role in the Indian diet. The consumption of milk and milk-based beverages has increased by an annual average of 2.7 per cent in the last four years and most of them (65 per cent) are sold “loose” / unpackaged. The proportion of the market accounted for by packaged milk and dairy products are increasing, however. In the past four years, for example, demand for milk filled in pouches has grown by 4.5 per cent annually, while the figure for milk in cartons is about 25 per cent. The rising consumption is making it necessary for appropriate investments to be made by the beverage industry. The sector is highly fragmented and 95 per cent of these producers have small or very small operations. Of this, the health beverage industry is valued at $230 million.

The Indian beverage industry faces over supply in segments like coffee and tea. However, more than half of this is available in unpacked or loose form. Indian hot beverage market is a tea dominant market. Consumers in different parts of the country have heterogeneous tastes. Dust tea is popular in southern India, while loose tea in preferred in western India. The urban-rural split of the tea market was 51:49 in2000. Coffee is consumed largely in the southern states. The size of the total packaged coffee market is 19,600 tones or $87 million. The total soft drink (carbonated beverages and juices) market is estimated at 284million crates a year or $1 billion. The market is highly seasonal in nature with consumption varying from 25 million crates per month during peak season to 15million during offseason. The market is predominantly urban with 25 per cent contribution from rural areas. Coca cola and Pepsi dominate the Indian soft drinks market. Mineral water market in India is a 65 million crates ($50 million) industry. On an average, the monthly consumption is estimated at 4.9 million crates, which increases to 5.2 million during peak season.

COMPANY PROFILE

ABOUT THE ORGANIZATION

COMPANY AT A GLANCE

Name of the organization PepsiCo India Holdings Private Limited

Address of the organization NO:6, G.S.T. RD, MAMANDUR P.O, MAMANDUR VLG, MADURANTAKAM, KANCHEEPURAM, Chengalpattu - 603111, TAMIL

NADU,INDIA

Year of establishment Mamandur unit was started in 1991 by a private franchise. Later it was taken over by PepsiCo in1994

Industry: Food & Beverage

PRODUCT PROFILE

PepsiCo India’s expansive portfolio includes iconic refreshment beverages Pepsi, 7UP, Nimbooz, Mirinda, Slice and Mountain Dew, in addition to low-calorie options such as Diet Pepsi, hydrating and nutritional beverages such as Aquafina drinking water, isotonic sports drink Gatorade and fruit juices such as Tropicana and Tropicana Twister.

● Pepsi

● 7UP

● Mountain Dew

● Nimbooz

● Slice

● Tropicana

● Mirinda

● Aquafina

PEPSI – CHANGE THE GAME

Brand History

Pepsi is a hundred-year-old brand loved by over 200 million people worldwide. The largest single selling soft drink brand in India, Pepsi is ubiquitous on just about every social occasion.

Youngistaan loves it. 200 million people worldwide love it. But what has made Pepsi the single largest selling soft drink brand in India is actually a formula concocted a century ago in a faraway continent.

1886, the US. Caleb Bradman, a man with a plan formulated a blockbuster of a digestive drink and decided to call it Brad’s drink. The potion was to become Pepsi Cola in 1898, and eventually, Pepsi in 1903.

Since its inception, Pepsi has always been at the forefront of the beverage industry and has come up with revolutionary concepts such as Diet Pepsi, 2l bottles, recyclable plastic cola bottles and the enviable My Can.

Brand Advantage

Pepsi has become a friend to youth and youth culture. Over generations, youngsters have grown up with Pepsi and have shared an emotional connect with it unlike with any other cola brand. Be it parties, hangouts with friends, or just another day at home, a day is never complete without the fizz of Pepsi!

Pepsi has always fuelled youth passions like cricket, Bollywood, music and now football. Youth icons like MS Dhoni, Ranbir Kapoor, Didier Drogba, Virendar Sehwag, Sachin Tendulkar, Priyanka Chopra and Deepika Padukone have endorsed Pepsi since its launch in India.

Pepsi Changed the Game during the 2011 cricket world cup by challenging convention, celebrating the unorthodox and by becoming the official sponsor of everything that was unofficial about the sport! Change the Game even as a thought has gained enormous popularity and generated tremendous buzz.

Taking the same theme forward in 2012, Pepsi changed the game yet again by taking the lead in celebrating the exciting new platform of football. Having brought the biggest international football stars and pitching them against the mighty Indian cricketers in a classic faceoff for Pepsi – is something which only a brand like Pepsi can deliver.

QUICK BRAND FACTS

Flagship brand of PepsiCo. 100 year old brand loved by over 200 million people worldwide. An iconic youth brand in India. The single largest selling soft drink brand in India.

7Up UNVEILS NEW POSITIONING – ‘DIL BOLE I FEEL UP’

Brand History

7UP, the refreshing clear drink with a natural lemon and lime flavour was created in 1929. 7UP was launched in India in 1990 and its international mascot Fido Dido was used for advertising in 1992 to position the brand as a cool drink for youngsters. Fido became an instant hit with his trendy look, laid-back attitude and unconventional take on life. During the brand’s early years in India, 7UP gained market leader status in the lemon lime category by being one of the first to be nationally distributed besides being marketed as a healthier alternative to other soft drinks.

Brand Advantage

For the past two years, 7UP’s ambition as a brand has been to capture and own the lemon refreshment territory within the clear lime category. ‘Lemon’ has proven to be a clear and relevant differentiator for the brand. Further, the emotional connect with the idea of upliftment through refreshment has led to an impressive payoff for the brand.

After establishing itself as ‘The Lemon Drink’ in January 2009, 7UP has continued to build on the theme of mood upliftment with its new tagline ‘Mood Ko Do Lemon Ka Lift’.

Did You Know?

There are many theories for the origin of the 7UP name.

According to Professor Gary Yu (UCSB) and researchers for the popular Uncle John’s Bathroom Reader the name is derived from the atomic mass of Lithium, 7, which was originally one of the key ingredients of the drink (lithium citrate).

However, there are numerous other myths explaining the name:

Its creator named the soft drink after winning at a casino with three rolls of 7 and the letter U.

The drink was formulated with seven flavours plus the bubbles from the drink’s carbonation (the bubbles go up).

The original bottle contained seven ounces; its creator came up with the name while playing dice.

7UP was the seventh large commercial lemonade brand that tasted the same. Before the formula changed in 2006, a can of 7UP included seven

ingredients. The ‘Up’ in the drink’s name might refer to the original inclusion of lithium

citrate, when it was marketed as a patent medicine to cure hangovers. The name ‘7UP’ was a reference to the Esoteric concept of the Seven

Planes, made famous by the Internet series The Arrivals. The name came from the seventh-inning stretch ‘7UP’ in baseball tradition.

QUICK BRAND FACTS

7UP was created in 1929 7UP was launched in India in 1990

MOUNTAIN DEW – ‘DARR KE AAGE JEET HAI’

Brand History

The main formula of Mountain Dew was invented in Virginia. The drink was named and first marketed in Johnson City, Tennessee and Knoxville, Tennessee in 1948.

In India, Mountain Dew set the soft drink category ablaze in 2003 with its iconic launch campaign ‘Cheetah Bhi Peeta Hai’.

Brand Advantage

It is a soft drink that exhilarates like no other because of its active, high-energy, extreme citrus taste. The idea of daring, challenges, a ‘can do’ attitude, adventure and exhilaration are deeply entrenched in its brand DNA. The brand has always celebrated the bold, adventurous and rebellious spirit of youth. This is reflected in the high-adrenaline advertising of the brand and its connection to outdoor adventure.

QUICK BRAND FACTS

Mountain Dew was invented in Virginia in 1948. It was launched in India in 2003.

NIMBOOZ – ‘DIL BOLE I FEEL UP’

Brand History

Nimbooz was launched in India on the 28th of February 2009. It is the latest addition to the Pepsi beverages portfolio.

Brand Advantage

The brand delivers very strongly on certain expectations. These are:

Locally Relevant Taste

Nimbooz is a great tasting product. It has capitalized on the existing familiarity with and high consumption of unpackaged / home-made nimbu pani. It has remained true to its authentic Indian Identity by using the traditional Matka (Earthen Pot) and Squeezer in the manufacturing process.

Convenience and Great Value

The product is available in three convenient formats, 350ml PET, 200ml RGB and 200ml Tetra at the remarkable price points of Rs15, Rs 10 and Rs 10 respectively.

Accessibility

Nimbooz is India’s first nationally available packaged Nimbu Pani.

Hygienic

It is just like home-made nimbu pani. You can enjoy its natural and delicious lemony refreshment anywhere you go.

QUICK BRAND FACTS

India’s first nationally available packaged Nimbu Pani.

It was launched in India in 2009.

SLICE – PURE MANGO PLEASURE

Brand History

Slice was launched in India in 1993 as a refreshing mango drink and quickly went on to become a leading player in the category.

In 2008, Slice was relaunched with a winning product formulation that made consumers fall in love with its taste. With new pack graphics and clutter-breaking advertising, Slice has built a powerful appeal.

Brand Advantage

With the launch of the ‘Aamsutra’ campaign in 2008, its winning taste and appealing pack graphics, Slice created a great deal of excitement in its category and celebrated the indulgence in mangoes like no other brand had done before.

While other players have portrayed the mango as a simple and innocent fruit, Slice celebrates the sheer indulgence and sensuality involved in consuming a mango. The creative ‘Aamsutra’ idea communicates the experience of extreme sensuous pleasure through the act of drinking Slice.

Slice was the first brand ever in the Juice and Juice Drinks category to sign on Bollywood diva Katrina Kaif as the brand ambassador for Slice.

In 2009, Slice took the notion of indulgence to a whole new level with the launch of the ‘Slice Pure Pleasure Holidays’, giving its consumers a chance to win luxurious all-expenses-paid holidays to dream European destinations like Paris, Vienna, Greece and Venice.

QUICK BRAND FACTS

Slice was launched in India in 1993 Slice Mangola was introduced in 1994

Tropicana

Brand History

Tropicana was founded in Bradenton, Florida, USA, in 1947. It is now enjoyed almost everywhere in the world. Carefully nurtured for over 50 years, Tropicana has matured into one of the most respected beverage brands. Widely regarded as the world's no. 1 juice brand, it is today available in 63 countries. Since 1998, Tropicana has been owned by PepsiCo, Inc. Tropicana Premium Gold was re-launched as Tropicana 100% in 2008.

Brand Advantage

Tropicana continues to select the best fruit to manufacture high-quality juices and original products, pioneer innovative processes and explore new markets for its products. It is committed to fostering healthy lifestyles by ensuring that its products are naturally nutritious and provide the daily benefits that one needs.

In India, Tropicana comes in two categories: 100% Juices (sold as Tropicana 100%) and Juice Beverages & Nectars (sold as Tropicana).

QUICK BRAND FACTS

Launched in India in 2004. Available in two categories - 100 percent juice and juice-based

drinks.

MIRINDA – ‘WEEKEND AAYE THO PAGALPANTI CHAYE’

2010 Brand Campaign

In 2010, Mirinda launched the ‘Weekend Pagalpanti’ campaign, based on the insight that today’s youth love to spend fun time with their friends and families on weekends, and any unwanted interruption causes annoyance. Mirinda helps young people to enjoy themselves

spontaneously and drives away all unwanted weekend interruptions. The campaign was launched with interesting advertising copy, innovative outdoors, radio contests, DTH activation and in-store presence.

Brand History

Mirinda is an international soft drink brand from Spain that was launched in India in 1991.

Mirinda has always been about the irresistible taste of oranges that is now synonymous with the brand. The message was successfully communicated through our 1996 ‘Mirinda Men’ campaign, the 2000 ‘Taste Pe Atka, Mirindaaaa’ campaign and the ‘Taste Aisa Chaye Character Fisla Jaye’ campaign of 2003.

Mirinda evolved to evoke not just great taste but a lot of fun as well. This was conveyed through another spate of memorable campaigns – ‘Fun Ka Naya Mantra, Mirindaaaaa’ starring Asin and Zayed Khan in 2007 and the ‘Pagalpanti Bhi Zaroori Hai’ campaign with Asin in 2008.

In 2009, ‘orange’ was established as the core of the brand with the ‘Orange Dikha Toh Mooh Bola Mirindaaaaa’ campaign.

Brand Advantage

When we think Mirinda, we think orange. But Mirinda has also launched many other fruit flavours. Mirinda Lemon was launched in 1998 with

the memorable ‘Zor Ka Jhatka Dheere Se Lage’ campiagn starring Amitabh Bachchan and Govinda. Mirinda has also launched innovative flavors like Apple and Batberry.

In 2008, the brand decided to up the ante and deliver a brand philosophy that would resonate even more strongly with consumers. Consequently, Mirinda adopted a bold and vibrant colour, great orangey taste and sparkling bubbles that encouraged one to be more carefree, spontaneous and playful.

In an effort to give our consumers a great tasting product that delights continuously, we have reformulated and improved the taste of Mirinda, first in 1996, and then in 2002. What’s more, Mirinda is now made without any artificial flavour at all!

QUICK BRAND FACTS

1991: Mirinda Orange launched in India. 1998: Mirinda Lemon launched in India.

AQUAFINA – ‘THE PUREST PART OF YOU’

Brand History

Aquafina was first launched in the US in 1994. With its unique purification system and great taste, Aquafina soon became the bestselling brand in the country.

In India, Aquafina’s journey began with its launch in Bombay in 1999 and it was rolled out nationally by 2000. On the strength of its brand appeal and distribution, Aquafina has become one of India’s leading brands of bottled water in a relatively short span of time.

Brand Advantage

Aquafina goes through a five step state-of-the-art purification process to give consumers pure water and perfect taste.

Aquafina has been built through refreshing and sharp advertising. The ‘What a Body’ campaign has helped the brand to drive premium, modern and youthful imagery in an otherwise undifferentiated category.

Bottled across India in 19 plants, Aquafina is available across more than half a million outlets. Catering to diverse consumer needs and occasions, it is available in various pack sizes like 300ml, 500ml, 1 ltr and 2 ltr bottles and in bulk water jars of 25 ltrs.

Aquafina is the face of PepsiCo’s water conservation initiatives and builds awareness about Pepsico’s efforts to replenish and restore the water table through its pack labels.

About PepsiCo

PepsiCo is a global food and beverage leader with net revenues of more than $65 billion and a product portfolio that includes 22 brands that generate more than $1 billion each in annual retail sales. Our main businesses – Quaker, Tropicana, Gatorade, Frito-Lay and Pepsi-Cola – make hundreds of enjoyable foods and beverages that are loved throughout the world. PepsiCo’s people are united by our unique commitment to sustainable growth by investing in a healthier future for people and our planet, which we believe also means a more successful future for PepsiCo. We call this commitment Performance with Purpose: PepsiCo’s promise to provide a wide range of foods and beverages for local tastes; to find innovative ways to minimize our impact on the environment by conserving energy and water and reducing packaging volume; to provide a great workplace for our associates; and to respect, support and invest in the local communities where we operate. For more information, please visit

PepsiCo India Region: Leadership through Performance with Purpose

PepsiCo entered India in 1989 and in a short period, has grown into one of the largest and fastest growing food and beverage businesses in the country. PepsiCo India’s growth has been guided by PepsiCo’s global vision of “Performance with Purpose”. This means that while businesses maximize shareholder value, they have

a responsibility to all the stakeholders, including the communities in which they operate, the consumers they serve and the environment whose resources they use.

One of the largest food and beverage businesses in India: PepsiCo India’s diverse portfolio includes iconic brands like Pepsi, Lay’s, Kurkure, Tropicana 100%, Gatorade, Quaker and young, but immensely popular and fast growing brands, such as Nimbooz and Aliva. PepsiCo India has not only grown to become one of the country’s largest food and beverage businesses but has also become a powerful and consistent driver of PepsiCo’s global growth.

A third of PepsiCo India’s portfolio today comprises healthier products: PepsiCo’s portfolio reflects its commitment to nourish consumers with a diverse range of fun and healthy products, making the healthful choice an easier choice. Today, the portfolio includes several healthier treats like Quaker Oats, Tropicana juices, rehydrator Gatorade, Tata Gluco+, Tata Water plus, Lay’s Baked range and Lehar Iron Chusti fortified extruded snack & biscuit with superior quality iron & B-vitamins.

Model partnership with over 24,000 farmers: PepsiCo has pioneered and established a model of partnership with farmers and now works with over 24,000 happy farmers across seven states. More than 45 percent of these are small and marginal farmers with a land holding of one acre or less. PepsiCo provides 360-degree support to the farmer through assured buy back of their produce at pre-agreed prices, quality seeds, extension services, disease control packages, bank loans, weather insurance, and the latest technological practices.

Global leader in water conservation: In 2009, PepsiCo India achieved a significant milestone, by becoming the first business in the PepsiCo system to achieve ‘Positive Water Balance’ (PWB)—it replenishes more water than it consumes in its manufacturing operations. In 2011, PepsiCo further increased the amount of water

saved and is now water positive by 8.3 billion litres. Staying water positive through innovative irrigation practices like direct seeding, water recharging, and significantly, by reducing the consumption of water in its manufacturing facilities, PepsiCo is lauded for its efforts for water conservation.

Care for the environment: PepsiCo is focused on reducing its carbon footprint. Nearly 30 percent of its energy is today generated from renewable sources such as rice husk boilers and wind turbines. Initiatives such as reduction of use of chemicals, eco-friendly packaging initiatives and efficient waste management help reduce load on the environment. PepsiCo India’s award-winning Waste to Wealth recycling program reaches 450,000 families.

Exemplary employment practices: PepsiCo India believes in providing employment and growth opportunities to local talent. Its ‘College of Leadership’, ensures early identification of talent, and employees’ focused development through critical experiences. The company emphasizes “Winning with Diversity and Inclusion” and has a significant number of women in the leadership team in India. PepsiCo India currently employs over 100 differently-abled people and has won the prestigious Hellen Keller Award from the National Centre for Promotion of Employment for Disabled People (NCPEDP).

OUR MISSION AND VISION

OUR MISSION

Our mission is to be the world's premier consumer products company focused on convenient foods and beverages. We seek to produce financial rewards to investors even as we provide opportunities for growth and enrichment to our employees, our business partners and the communities in which we operate. And in everything we do, we strive for honesty, fairness and integrity.

OUR VISION

PepsiCo's responsibility is to continually improve all aspects of the world in which we operate – environmental, social, economic – creating a better tomorrow than today.

Our vision is put into action through programmes and a focus on environmental stewardship, activities to benefit society and a commitment to build shareholder value by making PepsiCo a truly sustainable company.

PERFORMACE WITH PURPOSE

At PepsiCo, we're committed to achieving business and financial success while leaving a positive imprint on society – delivering what we call Performance with Purpose.

Our approach to superior financial performance is straightforward – drive shareholder value. By addressing social and environmental issues, we also deliver on our purpose agenda, which consists of human, environmental, and talent sustainability.

PepsiCo Values & PhilosophyOur values and philosophy are a reflection of the socially and environmentally responsible company we aspire to be. They are the foundation for every business decision we make.

Our Commitment

We are committed to delivering sustained growth through empowered people acting responsibly and building trust.

GUIDING PRINCIPLES

Care for customers, consumers and the world we live in.

Sell only products we can be proud of.

Speak with truth and candor.

Balance short term and long term.

Win with diversity and inclusion

Respect others and succeed together.

What it Means

Sustained Growth is fundamental to motivating and measuring our success. Our quest for sustained growth stimulates innovation, places a value on results and helps us understand whether today's actions will contribute to our future. It is about the growth of people and company performance. It prioritizes both making a difference and getting things done.

Empowered People means we have the freedom to act and think in ways that we feel will get the job done, while adhering to processes that ensure proper governance and being mindful of company needs beyond our own.

Responsibility and Trust form the foundation for healthy growth. We hold ourselves both personally and corporately accountable for everything we do. We earn the confidence others place in us as individuals and as a company. By acting as good stewards of the resources entrusted to us, we strengthen that trust by delivering on our promises and remaining committed to succeeding together.

Guiding Principles

We uphold our commitment with six guiding principles. We must always strive to:

1. Care for our customers, our consumers and the world we live in.

We are driven by the competitive spirit of the marketplace, but we direct this spirit toward solutions that benefit both our company and our constituents. Our success depends on a thorough understanding of our customers, consumers and communities. To foster this spirit of generosity, we go the extra mile to show we care.

2. Sell only products we can be proud of.

The true test of our standards is that we are able, without reservation, to consume and personally endorse the products we sell. Our absolute endorsement extends to every part of the business, from the purchase of ingredients to the point where our products reach consumers.

3. Speak with truth and candor.

We tell the whole story, not just what is convenient to our individual goals. In addition to being clear, honest and accurate, we take responsibility for ensuring that our communications are understood.

4. Balance the short term and long term.

In every decision, we weigh both short-term and long-term risks and benefits. Maintaining this balance helps sustain our growth and ensures that our ideas and solutions are relevant both now and in the future.

5. Win with diversity and inclusion.

We embrace people with diverse backgrounds, traits and ways of thinking. Our diversity brings new perspectives into the workplace and encourages innovation, helps us identify new market opportunities, develop new products and sustain our commitment to growth through empowered people.

6. Respect others and succeed together.

We depend on people who can work together, whether in structured teams or through informal collaboration. Mutual success depends on mutual respect, for both those within and outside the company. While our company is built on individual excellence, the value we attach to teamwork and mutual respect turns our goals into accomplishments.