Part I: Critical Element “Purpose”
In order to receive a score of proficient (100%) on Milestone One you’ll need to outline the purpose of your paper and state how it will inform the conclusion. The best way to do this is to view the Final Project Guidelines and Rubric, paying particular attention to the Prompt and Critical Elements that will be addressed in your paper. When you turn in your final paper, in order to earn a score of exemplary (100%) you’ll also need to use industry-specific language to establish expertise. I recommend trying to write Milestone One as if it were your final paper, so that you can benefit from the feedback before your final paper is due.
Below is an example of an introduction that would receive an exemplary score for The Hershey Company. Please keep in mind the following points as you work on your introduction:
-The text in italics indicates where the purpose of the paper is outlined.
-The underlined text indicates how the conclusion will be informed.
-The bold text indicates industry-specific language that establishes expertise.
-This example is properly cited in APA format, is double-spaced, and written in Times New Roman 12-point font.
If you have any questions on writing the introduction, please post them to this thread. Full citations are available at the end of this document. Please do not use underlining, italics, or bold font in your submitted paper. The formatting is simply a tool to show you where the critical elements are being met within the example.
The Hershey Company
Did you know the number one flavor in confectionery treats among Americans is chocolate? The demand for chocolate in the global market is expected to see an annual growth rate of approximately three percent, with customers in Asia driving the sales growth (Bradford, n.d.). As a consultant for one of the “top ten global confectionery companies” (The Chocolate Industry, 2015) in the industry, it’s essential that the core microeconomic principles be examined to ensure the firms sustainability and future growth in the market. This paper will examine the supply and demand conditions impacting The Hershey Company, including a discussion on the trends in demand over time and the price elasticity of demand. A detailed analysis will then be performed on the costs of production, market share, barriers to entry, and the market structure of the chocolate industry. After completing this analysis, recommendations will be made specifically for The Hershey Company that will describe how the firm can sustain its success going forward.
Part I: Critical Element “History and Overview”
In order to receive a score of proficient (100%) on this element Milestone One you’ll need to comprehensively summarize the history of your firm and provide an overview for what the firm does and what goods/services it sells. When you turn in your final paper, in order to earn a score of exemplary (100%) on this element you’ll also need to have selected a company that is well-suited to the analysis. The good news here is that if your choice of company has been approved by me (and it should already be), you will automatically receive an exemplary on your final paper if you scored proficient on Milestone One without needing to make any changes!
Below is an example of the history and overview of an exemplary paper written on The Hershey Company. This overview section was broken into two parts, but that is not necessary. You’ll want to organize this section as it fits your company.
History
As the founder of the Hershey Chocolate Company, Milton S. Hershey faced several challenges prior to becoming one of the most successful entrepreneurs around the world. He was born in Derry Township, Pennsylvania. And as a teenager with no formal education, he chose to enter a four-year apprenticeship program with a candy maker located in Lancaster, Pennsylvania. In 1876, after completing the apprenticeship program, he opened his own candy business that in the end failed after six years of hard work. He went on to pursue work with a confectioner in Denver, and learned the trade of making caramels using fresh milk (Hershey's History, n.d.). He then moved to New York to open his second candy business, which also failed. Still determined to make a go of the caramel business, he moved back to Lancaster where he first learned the art of making candy and in the end he finally found his niche to succeed. In 1893, while attending an exposition in Chicago, he became intrigued with the technique used to make chocolate and purchased some German machinery so he could start producing “chocolate coatings for his caramels” (Hershey's History, n.d.).
In recognizing the high demand for just chocolate, he started the Hershey Chocolate Company, and eventually sold the caramel business so he could devote all his time to making chocolate. As his empire grew, so did his generosity of giving back to the community by providing “employee housing, schools, parks, recreational facilities, and a trolley system” (Hershey's History, n.d.). He and his wife gave the majority of their fortune - including ownership of his enterprise businesses, to the Hershey Trust that is held for the Hershey Industrial School for orphans. In 1945, after his passing, “the company, town and institutions that bear his name were well positioned to grow” (Hershey's History, n.d.). And today, the “Hershey Chocolate Company has evolved into The Hershey Company” (Hershey's History, n.d.), which offers a large selection of products and notable attractions.
Current Goods and Services
The company manufactures more than 80 brands of products with known classics such as; Hershey Kisses, Reese’s, Almond Joy, Kit Kat, Mounds, York and many more. They also produce non-chocolate candy, gum, mints, baking goods, pantry goods, drink mixes, dessert toppings and snacks. In addition, they make products to meet the dietary needs of consumers that are gluten-free, kosher and sugar-free (Our Brands, n.d.).
Areas of Operation
The company’s manufacturing plants are located in Pennsylvania, Illinois, Virginia, and Guadalajara, Mexico with each location designed to produce specific brands. They have a global presence with their international retail stores located in Canada, Mexico, Brazil, China, Japan, Korea, and India. As well as their U.S. retail stores located in Times Square, New York and Chicago (Hershey's Manufacturing, n.d.). But the largest operating facility and famous tourist attraction is located right in the heart of Hershey, PA. Also known as “Hershey’s Chocolate World” (Hershey's Chocolate World, n.d.).
References
Bradford, C. (n.d.). How Large Is the Chocolate Industry? | Chron.com. Retrieved from http://smallbusiness.chron.com/large-chocolate-industry-55639.html
The Chocolate Industry. (2015, January 23). Retrieved from http://www.icco.org/about-cocoa/chocolate-industry.html
Hershey's History. (n.d.). Retrieved from www.thehersheycompany.com/about-hershey/our-story/hersheys-history.aspx
Our Brands. (n.d.). Retrieved from www.thehersheycompany.com/brands.aspx
Hershey's Manufacturing. (n.d.). Retrieved from www.thehersheycompany.com/about-hershey/manufacturing-network.aspx
Hershey's Chocolate World. (n.d.). Retrieved from www.hersheys.com/visit-us/hersheys-chocolate-world.aspx
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