abhishreshthaa
Abhijeet S
The Archer Daniels Midland Company (NYSE: ADM) is a conglomerate based in Decatur, Illinois. ADM operates more than 270 plants worldwide, where cereal grains and oilseeds are processed into products used in food, beverage, nutraceutical, industrial and animal feed markets worldwide.
ADM also provides agricultural storage and transportation services. The American River Transportation Company along with ADM Trucking, Inc are subsidiaries of ADM. ADM's revenues for fiscal 2009 were US $69.2 billion.
In 1902, George A. Archer and John W. Daniels began a linseed crushing business. In 1923, Archer-Daniels Linseed Company acquired Midland Linseed Products Company, and the Archer Daniels Midland Company was formed. Every decade since its corporate inception, ADM has added at least one major profit source to its agribusiness: milling, processing, specialty food ingredients, cocoa, nutrition, and more.
In 1971 Dwayne Andreas became Chief Executive Officer of ADM, and is credited with transforming the firm into an industrial powerhouse. Andreas remained CEO until 1997. He was one of the most prominent political campaign donors[4] in the United States, having contributed millions of dollars to Democratic and Republican candidates alike.
In September 1999, executive Marty Andreas announced, under pressure from the European agricultural industry, they were going to separate crops into genetically modified and non-genetically modified groups to give their customers a choice. Previously the company had not disclosed their crop sources.
In 2001, Paul B. Mulhollem became the President of ADM. The Archer Daniels Midland Company made history by becoming the first U.S. company to sign a contract with Cuba since the embargo against Cuba was imposed October 1960.
In May 2006, Patricia A. Woertz became CEO. Formerly of Chevron, she is expected to focus on developing ethanol and biofuels. In February 2007 Ms. Woertz was elected Chairman of the Board at ADM.
iT is included in the long line of UK companies that has acquired a reputation of greatness and quality. Armed with experience, the company has been seasoned with its battles with both its internal and external environments. Since the 1880s, it adhered to a strict tradition involving its processes and trading practices which essentially spelled fairly well on the part of Marks and Spencer. To date, the company is considered as one of the most recognisable names in the area of retail. From apparel to even food services, the Marks and Spencer has ubiquitously hounding the top players in the UK market and the rest of the world. The case study provided by Collier (2004) provided several descriptions on the basic elements of the company. It has been described as a company that adheres to top-down management approach compounded by the close supervision provided by its former CEO. This has worked well with the company for several decades, however in the latter part of the 1990s a noticeable decline in the sales as well as in the overall performance of the company was observed. Various revolutionary and evolutionary changes have been implemented in the Marks and Spencer with the numerous changes in its leadership. To date, though there have been numerous changes in the strategies invoked by the company, its operations, to a certain extent, is still based on several principles: to offer a selective range of high-quality, well designed and attractive merchandise at reasonable prices; to encourage suppliers to use the most modern and efficient production techniques; to work with the highest quality control; to provide friendly and helpful service to their customers; to improve the efficacy of the business; and foster good human relations to its stakeholders. However, along the way they might have neglected to deal with the changes in the external environment as they focused on addressing the inner workings of their operations. This paper will look into the conditions surrounding that phenomenon.
II. External Analysis
The external environment is basically comprised of all the elements that determine what the company needs to compete in its respective industry. In this part of the paper, a presentation of the external environment and consequent analysis will be carried out employing the PEST analysis.
ADM also provides agricultural storage and transportation services. The American River Transportation Company along with ADM Trucking, Inc are subsidiaries of ADM. ADM's revenues for fiscal 2009 were US $69.2 billion.
In 1902, George A. Archer and John W. Daniels began a linseed crushing business. In 1923, Archer-Daniels Linseed Company acquired Midland Linseed Products Company, and the Archer Daniels Midland Company was formed. Every decade since its corporate inception, ADM has added at least one major profit source to its agribusiness: milling, processing, specialty food ingredients, cocoa, nutrition, and more.
In 1971 Dwayne Andreas became Chief Executive Officer of ADM, and is credited with transforming the firm into an industrial powerhouse. Andreas remained CEO until 1997. He was one of the most prominent political campaign donors[4] in the United States, having contributed millions of dollars to Democratic and Republican candidates alike.
In September 1999, executive Marty Andreas announced, under pressure from the European agricultural industry, they were going to separate crops into genetically modified and non-genetically modified groups to give their customers a choice. Previously the company had not disclosed their crop sources.
In 2001, Paul B. Mulhollem became the President of ADM. The Archer Daniels Midland Company made history by becoming the first U.S. company to sign a contract with Cuba since the embargo against Cuba was imposed October 1960.
In May 2006, Patricia A. Woertz became CEO. Formerly of Chevron, she is expected to focus on developing ethanol and biofuels. In February 2007 Ms. Woertz was elected Chairman of the Board at ADM.
iT is included in the long line of UK companies that has acquired a reputation of greatness and quality. Armed with experience, the company has been seasoned with its battles with both its internal and external environments. Since the 1880s, it adhered to a strict tradition involving its processes and trading practices which essentially spelled fairly well on the part of Marks and Spencer. To date, the company is considered as one of the most recognisable names in the area of retail. From apparel to even food services, the Marks and Spencer has ubiquitously hounding the top players in the UK market and the rest of the world. The case study provided by Collier (2004) provided several descriptions on the basic elements of the company. It has been described as a company that adheres to top-down management approach compounded by the close supervision provided by its former CEO. This has worked well with the company for several decades, however in the latter part of the 1990s a noticeable decline in the sales as well as in the overall performance of the company was observed. Various revolutionary and evolutionary changes have been implemented in the Marks and Spencer with the numerous changes in its leadership. To date, though there have been numerous changes in the strategies invoked by the company, its operations, to a certain extent, is still based on several principles: to offer a selective range of high-quality, well designed and attractive merchandise at reasonable prices; to encourage suppliers to use the most modern and efficient production techniques; to work with the highest quality control; to provide friendly and helpful service to their customers; to improve the efficacy of the business; and foster good human relations to its stakeholders. However, along the way they might have neglected to deal with the changes in the external environment as they focused on addressing the inner workings of their operations. This paper will look into the conditions surrounding that phenomenon.
II. External Analysis
The external environment is basically comprised of all the elements that determine what the company needs to compete in its respective industry. In this part of the paper, a presentation of the external environment and consequent analysis will be carried out employing the PEST analysis.