Introduction
Chocolate is prepared from cocoa beans. In Aztec language xocolatl refers to bitter water. The natives drank it as a drink mixing it with, chilli vanilla and achiote. Europeans discarded the chilli and added to it milk and sugar. In due course a process was developed that created chocolate bars from this. Cocoa was a native of South America but today West Africa meets two thirds of the world’s requirement for cocoa. One of the finest businesses in chocolate is the Hershey Company, who has excelled in the trade with ethical approach and guidelines that are helpful for the employees in providing better service and thus a better product and consumer satisfaction in the long-run.
Company background
The biggest chocolate manufacturing unit in North America is The Hershey Company – known as Hershey Foods Corporation till 2004 April. As a company with more than 100 years of history, it ranks among the oldest chocolate firms in USA and has acquired an iconic status. The main building of the Hershey Foods Corporation is currently situated in the state of Pennsylvania. The place that holds the head office is called Dauphin County’s Derry Township. It also hosts Hershey’s Chocolate World.
In 1894, the entrepreneur, Milton S. Hershey became the chief architect of the company and named the company Hershey Chocolate World. It was founded as an auxiliary local office of Lancaster Caramel Company. Today, Hershey Foods Corporation is considered to be one of the oldest surviving firms dealing with chocolates that are located in the United States. It is no surprise that it has gained the status of an icon in today’s business world.
The proprietor, Milton Snavely Hershey, is truly a very interesting character. After running through an apprenticeship with a confectioner, Milton Hershey set up a candy shop in 1876 at Philadelphia. Six years later it downed shutters. He tried but failed in manufacturing candy in New York. He came back to Pennsylvania and set up the Lancaster Caramel Company. From then on the company has not looked back. Milton constructed a plant for processing milk in 1896 and invented a recipe for milk chocolate candies. After 3 years he developed what became known as Hershey’s process. In 1907 he introduced Hershey’s Kisses. It shifted over from being hand-wrapped to machine-wrapped in 1921. Apart from these elements, it can be well stated that the company has acquired many other subsidiary companies over the time that were operational in the same industry of chocolates and candy. There is also diversification and Hershey Company is also into entertainment industry and hospitality business with Resorts that feature stadium, parks etc. There are various brand names too under the name of the mother business (Brenner, 26).
Discussion
There are several products that the company offers. There is a wide range of Hershey Bars like Hershey’s Symphony, Hershey’s special dark, Hershey’s with almonds etc. There is also a range of health bars that includes Hershey’s extra dark, Hershey’s Whole Bean and Hershey’s Antioxidant. Furthermore, Cacao Reserve is regarded as a niche brand of the company that includes Signature collection, Single origin or Truffles. Other chocolate based products are Hershey’s Bite, Glosette, Cherry Blossom, Bar none, 5th Avenue Almond joy etc. (Brenner, 28)
A ribbon on its top indicated it to be a genuine Hershey product. It acquired a trademark in 1924 and since then it has won laurels and fame. 2007 was marked as the one hundredth anniversary of Hershey’s. The postal services of USA recognized the occasion by issuing a special Love Stamp. Some of its other original famous products are Mr. Goodbar, Hershey’s Syrup, chocolate chips and Krackel bar. The newest additions are calorie candy and toffee bars along with rice and marshmallow bars. There are varieties in gum and mint as well as pantry items like pantry items (chocolate for baking, dessert toppings etc.) (D’Antonio 186).
The organizational setup of the company is well defined and extremely well formulated. Across the globe Hershey employs nearly 13,000 employees. It maintains high ethical levels for all the tiers – directors, officers and the employees. The buzz word is maintaining excellence in governance. The board of directors comprise of the very best of talents. The guidelines of the company are renewed every year. It was amended recently in February 2010. The board comprises of independent directors who are to be in the majority. The criterion followed is stricter than pursued by the New York Stock exchange. The members of the audit committee and other committees dealing with organization, risk, finance, management etc are also independent.
Conclusion
Today chocolate enthusiasts consume over million tons of chocolate products annually. The interest began to grow from the 1990’s and continues to be the rage with no signs of diminishing interest. Latest researches in science have shown that chocolate is good for our health. Once it was avoided as a fattening snack but today it has reclaimed its original position as an elixir for revitalizing the body and mind.
Works Cited
Brenner, Joël Glenn. The emperors of chocolate: inside the secret world of Hershey and Mars. NY: Broadway Books, 2008.
D’Antonio, Michael. Hershey: Milton S. Hershey’s Extraordinary Life of Wealth, Empire, and Utopian Dreams. LA: Simon & Schuster, 2007.