Essay about Innovation new

Submitted By Ronke-Francis-Ayoola
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Contents
Nestle and It’s Mission 2
Vison and Mission 2
Strategy 3
Launch Process 4
Advantages of launching a new product range 6
Benefits that successful new product development 7
Bibliography 8

Nestle and it’s Mission

111
FEATURE ARTICLE
Published online in Wiley Online Library (wileyonlinelibrary.com)
© 2013 Wiley Periodicals, Inc. • DOI: 10.1002/tie.21599
Correspondence to: Werner Bauer, c/o Nestlé, Avenue Nestlé 55, CH-1800 Vevey, Switzerland, +41 21 9243445 (phone), werner.j.bauer@googlemail.com.
A
Dr. Ing. Werner Bauer, chief technology officer (CTO) and chief innovation officer at Nestlé, the world’s leading nutrition, health, and wellness company, stated in his 2014 speak at the

“Am constantly looking for new ways to boost innovation. For some time I have had one question in the back of my mind: what would happen if, in addition to the outstanding technical skills acquired in the best universities and in Nestlé labs, the talented and clever people we have recruited in my research and development (R&D) division had greater business savvy? Would business knowledge help them to perform even better or to better interact with marketing or business experts”

Nestlé S.A. is a Swiss multinational nutritional and health-related consumer goods company headquartered in Switzerland. It is the largest food company in the world measured by revenues. Nestlé’s products include baby food, bottled water, breakfast cereals, coffee, confectionary, dairy products, ice cream, pet foods and snacks. Nestlé employ around 339,000 people in over 150 countries and have 461 factories or operations in 86 countries. Nestlé sales for 2014 were almost CHF 91.61 billion (£63.75 billion). It is one of the main shareholders of L’Oréal, the world’s largest cosmetics company.
Vison and Mission
The Nestlé Corporate Business Principles are at the basis of the company’s culture, developed over 140 years, which reflects the ideas of fairness, honesty and long-term thinking. Nestlé believes that not only possible to create long-term value for their shareholders if their behaviour strategies and operations also create value for the communities where they operate, for their business partners and of course, for their consumers.
Nestlé vision is to meet the various needs of the consumer everyday by marketing and selling foods of a consistently high quality. Their objectives are to deliver the very best quality in everything they do, from primary produce, choices of suppliers and transport, to recipes and packaging materials.
Their mission is they strive to bring consumers foods that are safe, of high quality and provide optimal nutrient to meet physiological needs. Nestlé helps provide selections for all individual taste and lifestyle preferences.
Nestlé purpose is to offer safe, tasty, convenient and nutritious foods to improve health and well-being of consumers of all ages all over the world. To meet the needs and desires of today’s and tomorrow’s consumers, Nestlé is strongly committed to Research and Development (R&D) to improve products and develop new foods with specific health benefits (Nestlé.com, 2012).

Strategy
Nestlé’s objectives are to be recognised as the world leader in Nutrition, Health and Wellness, trusted by all its stakeholders, and to be the reference for financial performance in its industry. The Corporation believes that leadership is not just about size; it is also about behaviour. Trust, too, is about behaviour; and they recognise that trust is earned only over a long period of time by consistently delivering on their promises. These objectives and behaviours are encapsulated in the simple phrase, “Good Food, Good Life”, a phrase that sums up the Corporation’s corporate ambition.
The Nestlé Roadmap is intended to create alignment for workers behind a cohesive set of strategic priorities that will accelerate the achievement of company objectives. These objectives demand from workers a blend of long-term
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