Amcor Ltd is a packaging company that manufactures everything from cans to cartons, along with plastic food bottles and packaging. It is one of the largest package makers in the world that provides to other companies ranging in pharmaceuticals, tobacco, household products, packaging for fresh and processed foods and beverages. It has recently acquired another packaging leader by the name of Bemis over the past year. It operates in over 40 countries and 190 sites across the world. Over 90% of the sales are to its primary targets in the food, healthcare, tobacco, and beverage packaging companies (Amcor LTD, 2019).
Vision and Mission
The vision of a company is what the long-term future goals are and the mission of the company is what their purpose is (Thompson, 2018). Amcor’s mission is to be the “global leader in developing and producing high-quality, responsible packaging for a variety of food, beverage, pharmaceutical, medical-device, home and personal-care and other products” and its long term strategic vision is to “THE leading global packaging company” by engaging and developing their employees, by helping their customers grow and prosper, by benefitting their investors with growth and returns and making the environment better with their products (Amcor Ltd, 2019).
According to table 2.1 in the book written by, Arthur Thompson, there are several do’s and don’ts of a vision statement. Do’s being: graphic, forward looking, adjustable, feasible, and memorable and don’ts being: vague, dwelling, all-inclusive, boring, generic, long, and lacking specifics (Thompson, 2018). This vision and mission complement each other when combined by offering all of the do’s that are mentioned in Thompson’s textbook. It is not significantly long. It is specific as to how their goals are going to be accomplished along with being forward looking and graphic.
Strategic, Financial Objectives, Managerial Strategies
One financial objective is to decrease the impact of declining macroeconomic conditions that are having a negative result on their financial performance. Managements planned attack to combat this is to operate in global locations that are widespread and have a multitude of customers and raw material suppliers to reduce cost. Another objective that is financial is to keep their customer base happy with strong relationships because the loss of key customer will have a negative impact upon financial performance. Management plans to focus on quality, low cost to the customer, and on-time delivery (Amcor, 2018).
Due to high competition, one strategic objective that Amcor has is to be innovative and offer things to customers that the competition cannot. They believe that innovation will be the key to having a competitive advantage. Another strategic objective is retaining and attracting the best talent. They plan to have access to the largest pool of top candidates worldwide by motivating and rewarding top talent (Amcor, 2018).
Core values are items that the company wants their employees to display and what they themselves expect of themselves (Thompson, 2018). Amcor’s core values are safety, integrity, collaboration, accountability, results and outperformance (Amcor Ltd, 2019). These core values are realistic in a sense that everyone should want to display them and can if they tried. There is nothing in these core values that are unattainable by any individual. This company is the leading company in packaging globally with continued growth throughout the world. If these core values were not being seen to and displayed, growth would not be as substantial and retention of employees over 1-year would be less than 11.46% (Amcor LTD, 2019).
Amcor has a competitive advantage over its competitors because they due not lack innovation or talent. They have made it a strategy to constantly change to make it better for the customer’s and for the environment. They have committed to increased production of recyclable material to the customers, reusing recyclable material, and working with others to increase rates of recycling (Amcor, 2019). They have streamlined their operations and increased growth in their core businesses and have done this by purchasing and merging with competitors such as Bemis, Zhongshan TianCai Packaging, Nampak Flexibles, and Souza Cruz’s internal tobacco packaging (Amcor LTD, 2019). This will ultimately lead to sustainable growth by removing competitors and by being the leading industry in sustainable packaging.
Amcor. (2018). Amcor 2018 Annual Report. Retrieved from Amcor: https://assets.ctfassets.net/f7tuyt85vtoa/Ry9ogH9cQemqGA800oiGE/cbcc6bef0d76b79be2a227dfc13a7e87/Amcor_Annual_Report_2018.PDF
Amcor. (2019). 2025 pledge. Retrieved from Amcor: https://www.amcor.com/sustainability/2025-pledge
Amcor Limited. (2019). About Us. Retrieved from Amcor: https://www.amcor.com/
Amcor LTD. (2019, Jan 1). Hoover’s Company Records, 1-28. Retrieved from http://www.freemanagementresources.com
Amcor Ltd. (2019). Being Amcor. Retrieved from Amcor: https://www.amcor.com/about/overview/being-amcor
Thompson, A. (2018). Crafting & Executing Strategy: The Quest for Competitive Advantage (21st ed.). New York, NY: McGraw-Hill Education. Retrieved from http://www.freemanagementresources.com