General Mills

General Mills

I chose the company General Mills because most families are familiar with this household name and after reading some interesting facts about this company, if I were to leave AAA and work for another company it would be General Mills. I found it interesting that General Mills uses a "value" statement, rather than a "mission" statement.

Value Statement: "We reinforce our values everyday through our people, our brands, our innovation and our performance."

From four to submarines, from toys to restaurants, General Mills has been making a difference in people's lives for over 80 years. General mills started in 1866 by visionary Cadwallader C. Washburn. With a pair of flour mills on opposite banks of the Mississippi River in a region that would change the milling industry forever.

General Mills has a long and rich history. Even before their incorporation as General Mills in 1928. Today, with brands like Cheerios, Pillsbury, Yoplait, Green Giant, Betty Crocker, Old El Paso, Totino's and Progresso, General Mills is still making a difference in consumers' lives. It's been over 80 years of innovation, invention, food and fun - inside and outside the kitchen both in America and around the world.

On November 30, 1928, a new company was listed on the New York Stock Exchange. Formed through the merger of several regional milling companies, General Mills would grow to become one of the largest food companies in the world.

1930s:

Despite the Great Depression, General Mills made great strides during the 1930s. General Mills launched two revolutionary products. The first, Bisquick baking mix, was introduced in 1931 to immediate success. The second product, Kix cereal, which was the result of the invention of a new machine - the puffing gun. General Mills had entered the ready to eat cereal a decade before the introduction of Wheaties. Toward the end of the decade, CEO James Ford Bell decided to centralize the company in all aspects, operating all of its mills and companies across the nation from one location. Bell created two distinct divisions within the company. One was responsible for flour and feed, while the other took charge of grocery products. The large feed division sold farm animal products for turkey, cattle and pig and hog meal. The grocery products division sold flour, Wheaties, Bisquick and Kix.

1940s:

After the United States entered World War II in 1941, both General Mills and Pillsbury helped the war effort in several ways. The General Mills Mechanical division had become well known as a world class manufacturer of machines and equipment. During the war, it changed its focus to military equipment, developing several important advances. For example, the hedgehog, an instrument that would guide missiles to their target regardless of the target's movements, was credited with playing a significant role in sinking more than 300 German submarines. Pillsbury also developed several products for the U.S. Army, such as dehydrated soup mixes for liberated countries, as well as for prisoners of war. Another healthful product introduced during the war years was Cheerioats, the first ready to eat oat cereal. The Chiffon cake was discovered, using salad oil and the Brown 'n Serve rolls were also developed. The General Mills mechanical division developed a series of consumer appliances in 1946, including the Betty Crocker heat iron.

1950s:

The 1950s was a time of change in the United States. World War II was over, and the country was enjoying the prosperity of a postwar economy. It was also a decade of change for Pillsbury and General Mills, too both domestically and internationally. They wanted to build a mix business with a variety of products, pancakes, pie crust, cake mix and hot roll mix and the list went on. Three years later, Pillsbury Quick Cinnamon Rolls hit the market, the first of that list. Pillsbury was producing 10 different biscuit and roll varieties by 1957. By the end of the decade, refrigerated dough reached profits of $5.6 million dollars.

General Mills expanded internationally, creating General Mills Canada and constructing a facility in Rexdale, Ontario. General Mills Canada launched its first products, Cheerios and Wheaties cereals and Betty Crocker dessert mixes. The decade continued expanding with the company's first presweetened cereal, Sugar Jets, coming in 1953, followed by Trix the next year and Cocoa Puffs in 1958. The General Mills Appliance division continued to expand as well, with the addition of food mixers, waffle bakers, coffee makers and deep fryers.

1960s:

Between 1961 and 1969, General Mills went on a buying spree, purchasing 37 companies in the United States and abroad - the majority nonfood companies. They developed a Toy division, when they acquired Rainbow Crafts, makers of Play-Doh modeling compound in 1965, Kenner Products in 1967, and Parker Brothers, in 1968. General Mills began building its clothing and fashion business with the acquisition of Monocraft Products, maker of Monet jewelry, in 1968 and David Crystal, Inc., maker of Izod and Lacoste shirts, in 1969. The food business was still central to the company and not only did Betty Crocker dessert mixes expand with a variety of flavors, but the company began its snack business with a bang,, as Bugles, Whistles and Daisy's were introduced in the middle of the decade. Total and Lucky Charms cereals were created as well. Pillsbury's most important domestic acquisition was the Burger King Corporation in 1967, its first restaurant acquisition. Pillsbury quickly grew the Florida-based chain from 275 restaurants in 1967 to 489 locations by 1969.

1970s:

Consumer demographics were changing dramatically. More women were