Smithfield :: essays research papers

StrategySmithfield Foods is the largest hog producer and pork central processing unit in the world. They produce 5.1 billion pounds of meats yearly. Smithfield products are sold in northeastern America and 25 worldwide markets. These international acquisitions gave the social club a unfaltering hold on the market, upgraded manufacturing facilities, and the opportunity for growth. Smithfield began its expansion into foreign markets in 1998 when they do their way into Canada, France, Po country, and later on into Mexico. Smithfield Foods headquarters are located in Smithfield, Virginia. However, most of the companys operations are found in North Carolina. Their southern location enables them to give lower wages in order to have more competitive prices. The CEO, Joseph W. Luter III goal was to abide by driving costs down in order to increase the sales. They require to continue this trend into the future in order to increase profits.performanceIn 2002, Smithfields sales were 6.6 t imes where they were in 1993. In sum total to this, net income was up 50 times the amount of 1993. The company chop-chop expanded, and in 2001 they raised 12 million hogs. That was 3.5 times the amount of their juxtaposed competitor. Expanding the business abroad was essendial in the companys growth. In 1995 net income was 27. 8 million. In 1999 net income was 94.8 million. That increase was the direct rear of international expansion. After the expansion abroad, Smithfield also expanded domestically which sent sales rocketing. By 2002 the company owned or leased facilities in North Carolina, South Carolina, Virginia, Utah, Colorado, Texas, Oklahoma, South Dakota, Missouri, Illinois, Mexico, Brazil, Poland, and Canada. In 2002 the net income was 197 million and the company secured its place as the top in the industry. External Audit in that respect were umteen external factors that affected the companys performance and were something that compulsory to be dealt with. Most impor tantly was the unloose of waste in the purlieu due to the hog farming. The residents of eastern North Carolina were unhappy with the situation pickings place. The smell of the city was beginning to become unbearable and it was affecting the lives of many people. The problem did not affect sales and income however it had become an issue of morality. Another external factor that needed to be dealt with was the availability of land to dispose of the manure. According to the reading, the hogs in eastern North Carolina generate 9 million tons of manure each year.