Strategic Management Assignment: Strategy Formulation Process Of Australian SuperFoodCo

Question

Task:
In your strategic management assignment, you are expected to:

Clearly describe your chosen organisation and industry.

Critically evaluate the vision, mission and values statements of your chosen organisation, discuss their appropriateness and suggest improvements. (In case your selected organisation doesn’t have any of these vision, mission or values statements at present, you are required to develop those statements for the organisation and discuss their appropriateness against relevant principles.)

Critically examine the existing strategic objectives of your chosen organisation and discuss their appropriateness while clearly stating how each of these strategic objectives will help the organisation in the accomplishment of their vision and mission discussed earlier and how these can be improved further. (In case your selected organisation doesn’t have any strategic objectives at present, develop at least three new strategic objectives for the organisation and discuss their appropriateness against relevant principles.)

Answer

Executive Summary
The present strategic management assignment deals with the scenario of food industry which is one of the rapidly growing sectors in Australia. Even after the pandemic, this industry has remained immune and continued its growth constantly. There are a few hundred organizations in the food industry that are based out of Australia and many foreign companies are present as well. The Australian SuperFood Co. is a company that explicitly deals with native food ingredients. The organization was established in 2015 and since then the organization has worked towards bringing nutritious food and other diverse ingredients into freeze-dried powders, liquidities and dehydrated items. This helps the business to attract the right kind of people and opportunities it requires for growing the organization. However, there are some of the recommendations that can be incorporated in the organization to help the organization grow.

1.0 Organization Background& Industry
The food industry is one of the rapidly growing sectors in Australia. Even after the pandemic, this industry has remained immune and continued its growth constantly. There are a few hundred organizations in the food industry that are based out of Australia and many foreign companies are present as well. There are numerous start-ups in the food industry, who are entering the industry with lower barriers to entry. There are varied types of food companies present in the market some of them deals with packaged food, dried food, sea food and so on (Godrich et al., 2021). With a tremendous amount of competition, most sellers offer their products at cost-competitive rates. The current scope of discussion deals with analyzing the key components in an organization that are used for strategy formulation, and the organization considered here is Australian SuperFoodCo (International et al., 2021).

The Australian SuperFood Co. is a company that explicitly deals with native food ingredients. The organization was established in 2015 and since then the organization has worked towards bringing nutritious food and other diverse ingredients into freeze-dried powders, liquidities and dehydrated items (The Australian Superfood Co., 2021). The organization tries to preserve the items and brought the fruits and nuts that are required for the items during the picking season. The organization offers a standard quality of products all year long to the customers. The main purpose behind establishing the organization was to provide native products to the citizens of the country.

The organization has experienced a moderate growth level in the annual year 2015 to 2020. The organization has a moderate hold in the market and therefore is still evolving as a top company (navigator-asia.com, 2021). This organization mainly deals with the supply of nutrients rich products which are rich in fibres, minerals, vitamins, antioxidants and fatty acids. The organization supplies these products to the customers all year long by maintaining a standard quality of products (Kotsanopoulos, and Arvanitoyannis, 2017).The key market trends in the native market have a high demand for such products as in the recent times issues such as obesity, diabetes are increasing. Concurrently, this accrues the demand for healthy native products among the customer segments. The market is widespread and has a huge international market from European nations to the North American States to Asia-Pacific Nations. However, there are some of the key competitors in the market such as Archer-Daniels-Midland Company, Creative Nature Ltd, Del Monte Pacific Ltd, Healthy Truth, Nature’s Superfoods LLP, Navitas LLC, Nutrisure Limited (Supernutrients), Rhythm Superfoods LLC, Suncore Foods Inc, Sunfood Corporation and Superlife Co. Pte. Ltd.The organization, therefore, has various competitors in the market and therefore the organization must formulate its strategies to achieve an edge over the market.

2.0 Critical Evaluation Of Visions And Missions
The organization has various missions and visions which the organization tries to incorporate in the actions and operations of the organization. The organization mainly focuses on increasing the awareness, supply, affordability and accessibility of the native products of Australia. The main purpose behind the visions and missions of the organization is such that there have been various non-indigenous natives who were unaware of the nutrient values of such native products and therefore tend to clear the fields of native plants (The Australian Superfood Co., 2021). However, the indigenous people have always been aware of the nutrient and commercial values of the native plants and their products. Therefore, the organization mainly aims at providing native products which are full of rich minerals, vitamins and other ingredients and supply them to the market.

Another aim of the organization is to spread more awareness of the products of the native people to the customers. The non-indigenous people are less aware of the native plants and products and therefore it is important to spread more awareness regarding the same. It is further important to recognise the deep-rooted culture and values of the food industry and help people with healthy foods to help the communities with healthy food values. Hence values of the organization is focussed on exploring the deep embedded value system ofthe culture in Australia and to introduce people to such values. Such values allow a shift from westernised values that have been absorbed and abide by past values which societies in Australia had.

2.1 Recommendations
A vision and mission statement of a particular organization is very important as it defines the basic structure of the organization and tends to explain the main objectives of the organization. The organization has established various efficient and effective visions and missions for the organization. However, the organization can still improve some of its missions and visions to grow its business even more in the international market. Some of the recommendations are the following:

• The visions and missions of the organization must be clearer and focus on the customers. The benefits of the customers are the major purpose behind the conduct of the business. Therefore, it is important to communicate the vision and mission statements of the organization to the customers to remain competitive strategically.
• The visions and missions of the organization are such that the stakeholders must gain a clear vision of the main objectives of the organization and how investing their time and effort with that of the organization can be more efficient for the organization. Therefore, the organization must provide a vision and mission statement for the stakeholders to capture insight on the main objective of the organization and how this will be beneficial for the organization. This will enable the organization to attract more investments and keep growing and expand its business.
• Another vision and mission statement which must be incorporated must be a clear picture of the brand value. A clear picture of the brand value presented in the vision and mission statement of the organization will further help the organization to incorporate the main purpose behind the establishment of the organization. For instance, there are a few organizations that mainly focus on the premium brands in the market but there are also other organizations that focus on middle-aged customers and not be premium brands. Therefore, this is an important task to incorporate the main motives behind the visions and missions of the organization (Eriksson et al., 2020, p 805). These will enable the organization to establish itself as a brand apart in the market and create strategic advantages.

These are some of the recommendations that the organization can incorporate and help the stakeholders both internal as well as external gain a better insight into the objectives and goals of the organization. This will help and allow the business organization to grow even more.

3.0 Critical Analysis Of Strategic Objectives
The objectives of an organization help in gaining a clear vision of the specific and measurable goals that the organization is particularly planning. These objectives are the main specific standards and targets that the organization has set for itself. This organization has therefore also likewise set several important objectives for itself. Some of the important objectives that the organization has set for itself are discussed herein:

• Focusing on Core Competency: The main objective of the organization is to celebrate the native ingredients of various communities. This is the major strategic objective of the organization because the organization believes in collecting the native ingredients and provides the people with the native ingredients (The Australian Superfood Co., 2021).
• Creating Social Impact:Another objective of the organization is to provide a social impact on the various and diverse communities around the globe. In recent times, when the diseases are growing immensely it is imperative to normalize the use of native ingredient products to reduce the effects of such harmful diseases. Such diseases mainly take place because of thewrongful eating habits of the people and therefore it is important to place more stress upon the rightful eating habits among the different communities of the world.
• Adopting indigenous Value Chain for the business: Another objective of the organization is that the organization aims at providing native products supporting the indigenous supply chains. This is important for the organization because the organization focus on the supply chain efficiency of the organization and grow its business faster.
• Creating backward Integration: Another important objective of the organization is that it desires to grow its business by expanding the number of suppliers that are associated with the organization (The Australian Superfood Co., 2021). This is important for the organization because this particular objective of the organization will help the organization in increasing its efficiency and help in reaching the accessibility of the organization.

These are some of the main and important objectives for the organization. These objectives mainly explain the various goals and aims that are to be achieved by the organization with the help of different stakeholders present in the organization. The organization clearly states its objectives and also provides a measure for the organization. Some of these measures are attainable and some of these are realistic. Therefore, it is of utmost importance to clearly state the objectives of the organization. Moreover, clearly stating the objectives of the organization will also help the organization to attract the right opportunities of the organization and help the organization to grow more eventually. This will therefore be very beneficial for the organization and help the organization to develop and expand its business in the international market.

3.1 Recommendations
An objective of an organization is a necessary requisite. An objective explains the straightforward goals and targets of the organization and helps other stakeholders (both internal as well as an external stakeholders) to understand the goals and targets of the organization. This helps the business to attract the right kind of people and opportunities it requires for growing the organization. However, there are some of the recommendations that can be incorporated in the organization to help the organization grow. Some of the recommendations are the following:

• One of the objectives that the organization must incorporate is that of stating the targets which are based on the community. This will help the organization to grow more and bring more opportunities for the organization.
• Another important recommendation for the organization is that the organization must also explain its economic and social impacts clearly in the objectives of the organization. The organization must elaborate on what social impacts or how the organization desires to bring social impact on the society or the different communities around the globe.
• Another important objective recommendation for the organization is that the organization must develop a clear cutvision and target to expand the objectives of the organization. This will help others to understand the important visions and targets that the organization desires to achieve.

As regards the above discussion, it is imperative to understand that the organization must be incorporating the above-mentioned visions, missions and objectives which are important for the organization to state as this elaborates the main purpose and the main motives for the organization. After the organization incorporates such recommendations, it is going to help the organization to incorporate the recommendations and maximize its profit in the market. Therefore, for a top brand like The Australian Super Food Company, the brand must illustrate the major social impacts that the brand tends to execute. The brand must state clearly which aspects and areas the brand aims to perform and how it plans to bring changes in society. The brand must also further tend to clearly state the target group that the organization tends to focus upon. Therefore, the brand must elaborate the organization to state all these clearly so that it helps the business grow eventually and find more opportunities. These opportunities will help the business to grow more and find out various other factors as well. Moreover, it is also important that the organization clearly states the important values according to the time frames that are involved because this will help the others to understand that the organization wishes to achieve this much of target within this much of time and the investors can invest accordingly. Moreover, this will also help the organization to gain an edge over the other competitors present in the market and further help in building a good relationship with the stakeholders of the company. This will be more beneficial for the organization and help it grow.

4.0 References
Eriksson, T., Bigi, A. and Bonera, M., 2020. Think with me, or think for me? On the future role of artificial intelligence in marketing strategy formulation. The TQM Journal, 32(4), pp.795-814.

Godrich, S., Barbour, L. and Lindberg, R., 2021. Problems, policy and politics – perspectives of public health leaders on food insecurity and human rights in Australia. BMC Public Health, 21(1).

International, F., Australia, B., capabilities, A. and beverage, F., 2021. Food and Beverage - Austrade's industry capability information. [online] Austrade.gov.au. Available at: [Accessed 19 July 2021].

Kotsanopoulos, K. and Arvanitoyannis, I., 2017. The Role of Auditing, Food Safety, and Food Quality Standards in the Food Industry: A Review. Comprehensive Reviews in Food Science and Food Safety, 16(5), pp.760-775.

navigator-asia.com, F., 2021. Australia’s top 10 food firms by revenue revealed, and soon none will be wholly home-owned. [online] foodnavigator-asia.com. Available at: [Accessed 19 July 2021].

The Australian Superfood Co. 2021. About - The Australian Superfood Co. [online] Available at: [Accessed 19 July 2021].