Download as docx, pdf, or txt
Download as docx, pdf, or txt
You are on page 1of 63

CHAPTER 2- COMPANY PROFILE

MONDELEZ INTERNATIONAL

1
 REGISTRATION DETAILS

2
Mondelēz International, Inc.

Mondelēz International Headquarters in Deerfield, Illinois

Type Public

 NASDAQ: MDLZ (Class A)


Traded as
 NASDAQ-100 Component
 S&P 100 Component
 S&P 500 Component

ISIN US6092071058

Industry Food processing

Predecessor Kraft Foods Inc.

Founded October 2, 2012; 7 years ago

Founder Thomas H. McInnerney

Headquarters Deerfield, Illinois,

United States

Area served Worldwide

Key people Dirk Van de Put


(Chairman and CEO)

Products Baby food, coffee, dairy products, breakfast


cereals, confectionery, bottled water, ice
cream, pet foods

Revenue US$25.9 billion (2018)[1]

3
Operating US$3.506 billion (2017)[1]
income

Net income US$2.922 billion (2017)[1]

Total assets US$63.109 billion (2017)[1]

Total equity US$26.191 billion (2017)[1]

Number of 83,000 (2018)[2]


employees

Website www.mondelezinternational.com

4
 FORM OF OWNERSHIP

Institutional Ownership
Institutions account for 77.01% of MDLZ’s outstanding shares, a significant
enough holding to move stock prices if they start buying and selling in large
quantities, especially when there are relatively small amounts of shares available
on the market to trade. Although MDLZ has a high institutional ownership, such
stock moves, in the short-term, are more commonly linked to a particular type of
active institutional investors – hedge funds. For MDLZ shareholders, the potential
of this type of share price volatility shouldn’t be as concerning as hedge fund
ownership is is not significant,indicating few chances of such sudden price moves.
While that hardly seems concerning, I will explore further into MDLZ’s ownership
type to find out how it can affect the company’s investment profile.

Insider Ownership
Insiders form a group of important ownership types as they manage the company’s
operations and decide the best use of capital. Insider ownership has been linked to
better alignment between management and shareholders. Although individuals in
MDLZ hold only a minor stake, given MDLZ is a large-cap company, it is
relatively meaningful. This is a good sign for shareholders as the company’s
executives and directors have their incentives directly linked to the company’s
performance. It would also be interesting to check what insiders have been doing
with their shareholding recently. Insider buying can be a positive indicator of
future performance, but a selling decision can be simply driven by personal
financial requirements. NasdaqGS:MDLZ Insider Trading July 27th 18

General Public Ownership


A substantial ownership of 22.66% in MDLZ is held by the general public. With
this size of ownership, retail investors can collectively play a role in major
company policies that affect shareholders returns, including executive
remuneration and the appointment of directors. They can also exercise the power to
decline an acquisition or merger that may not improve profitability.

5
Private Company Ownership
Another important group of owners for potential investors in MDLZ are private
companies that hold a stake of 0.0015% in MDLZ. These are companies that are
mainly invested due to their strategic interests or are incentivized by reaping
capital gains on investments their shareholdings. However, an ownership of this
size may be relatively insignificant, meaning that these shareholders may not have
the potential to influence MDLZ’s business strategy. Thus, investors not need
worry too much about the consequences of these holdings.

6
 MISSION, VISION AND GOALS

MISSION: All around the world, the lines between meals and snacks are
blurring. Snacking – those moments when you reach for a delicious bite in
between meals – is on the rise. But there is also a universal cultural tension…
people don't want to have to choose between snacking and eating right.
That’s why, at Mondelēz International, we empower people to snack right.
This is our Mission.

VISION: Every day, we are inspired to go the extra mile to lead the future of
snacking around the world. We do this by offering the right snack, for the
right moment, made the right way.

GOALS: Our broad range of delicious snacks are what you need, when you
need it. Every bite more satisfying knowing they are made with high-quality
ingredients, in a way that enables people and planet to thrive. From our
passionate makers and bakers around the globe to your snacking moment,
Mondelēz International knows how to empower people to snack right.

7
 PRODUCTS / SERVICES

Mondelez India Foods Private Limited (Formerly Cadbury India Ltd.)

Mondelez India Foods Private Limited is a part of the Mondelēz International


group of companies and is in the business of creating delicious moments of joy –
by producing delectable chocolate confectionaries, gum and candy products, and
popular beverages and foods that include many of India's most popular and trusted
food brands.

We strongly believe in delighting our customers by offering the best quality


products possible. Over the years we have won our customers' hearts, making us
the market leaders in the chocolates category in India. Our flagship brand Cadbury
Dairy Milk (CDM) is considered the "Gold Standard" for chocolates - the pure
taste of CDM defines the chocolate taste for the Indian consumer.
Our other much loved brands include Cadbury Bournvita, CDM Silk, Cadbury
Choclairs, Gems, 5-Star, Perk, Bournville, Celebrations, Halls, Oreo and Tang.
Ranked 3rd amongst India’s Most Admired Companies by Fortune India in 2013, ,
Mondelez India Foods Private Limited is a part of Mondelēz International
(NASDAQ: MDLZ), the global snacking and food company and a spin-off from
Kraft Foods Inc. Mondelēz International is the world's largest chocolatier, biscuit
baker and candy maker, and the second-largest maker of gum.

Mondelez India Foods Private Limited has been in India for over 6 decades, having
started in 1948 as an importer of chocolates.
Our work ethic, values systems and quality standards make us an employer of
choice in India. Our large community extends into India's agricultural spaces.
Since 1965, Mondelez India Foods Limited has pioneered and enhanced the
development of cocoa cultivation in India. For over two decades, we have worked
with the Kerala Agricultural University to undertake cocoa research and improve
cocoa yields. Our cocoa team works with farmers to improve incomes through best
practices in all aspects of cocoa cultivation - from planting to harvesting. Our
efforts have touched the lives of thousands of farmers.

Headquartered in Mumbai, Mondelez India Foods Private Limited has sales offices
in New Delhi, Mumbai, Kolkata and Chennai and manufacturing facilities at Induri
(Pune), Malanpur (Gwalior), Baddi (Himachal Pradesh) and Sri City.

8
9
CHAPTER 3- ORGANISING

 ORGANISATIONAL STRUCTURE

10
 DECISION MAKING PROCESS

11
 ORGANISING: SPAN OF CONTROL

It is very important to understand span of control and organizational structure


when describing an organization. Simply, span of control refers to the number of
subordinates under the manager’s direct control. As an example, a manager with
five direct reports has a span of control of five. To many or to few direct reports is
a good way to view how efficent an organization is as long as it looked at in the
context of the companys organizational structure.

How many direct reports can a manager have?

Is there an optimal number? What needs to be considered is the nature of the work
that subordinates are performing and how much attention each requires. For
example a Call Center, the span of control can be numbers over 100, while
executive functions – with high degrees of collaboration and interaction – could
productively tolerate no more than three or four. So the nature of the work being
performed, and how much attention it requires should govern the assignment of
personnel to a manager, and not some industry ideal goal

12
 LINE AND STAFF RELATIONSHIP

ARTICLE: THE ECONOMICS TIMES

13
14
 AUTHORITY, DELEGATION, CENTRALIZATION,
DECENTRALIZATION

15
CHAPTER 4- DIRECTING, MOTIVATION AND LEADERSHIP

 SUPERVISION, MONITORING & CONTROL PROCESSES

Mondelēz International is one of the world's leading manufacturers of


confectionery products and powdered beverages. The company's products are sold
in more than 160 countries. Its portfolio includes a number of billion-dollar brands,
such as Milka and Cadbury Dairy Milk (chocolate), LU (biscuits), Nabisco and
Oreo (cookies), Tang (powdered beverages), or Trident (gum).
In the Czech Republic and Slovakia, Mondelēz International, which also includes
Opavia, has been operating since 1992 and is now the exclusive manufacturer of
cookies and chocolate confectionery in these markets. In both countries, the
company employs about three thousand people and sells an incredible 430 products
under 19 brands.

Control system

In 2019, a control and monitoring system (Project Hector) was installed at the
manufacturing plant in the city of Opava. The system consists of WAGO PLCs
and the Reliance SCADA/HMI system.

16
 MOTIVATION PRACTICES

At Mondelez International, Inc., they provide many pension plans and other
welfare benefits. Countless companies in the United States, like Mondelez
International, Inc., sponsor group health benefits for their employees, through
which companies typically cover a large portion of their workers' health insurance
premiums. These contributions are tax deductible for businesses and tax-free for
employees. Mondelez International, Inc. offers health, dental, and vision coverage.
Mondelez International, Inc. also offers group life insurance, short-term disability
insurance for accidents or illness, death benefits, which cover certain causes of
death, and long-term disability insurance. To help ensure a reliable money source
later in life, countless employees depend on employer-funded retirement plans.
Mondelez International, Inc. provides defined benefit pension plans and defined
contribution pension plans. Companies with defined benefit retirement plans pay
retirees a fixed sum upon retirement. With a defined contribution pension plan,
companies help employees save and invest for retirement.

17
 LEADERSHIP TYPE

A description of the management style used at Cadbury There are three main
management styles that a business can have these are:

· Democratic

· Consultative

· Autocratic

· Laissez-faire

Cadbury’s management style is democratic. This is when all members of staff work
together as a team. The managers listen to the other employees ideas and
suggestions before they go ahead with decisions. If ideas are found to be achievable
and successful by the senior group, then it is taken forward. Then as a team they
reach a decision. The approach of this style is that they care and listen to everyone in
the teams view and what they think not just their own. This style can be used in both
large and small groups.

18
CHAPTER 5- LEGAL AND REGULATORY COMPLIANCES FOR
MONDELEZ INTERNATIONAL

 NAME OF THE LAWS & REGULATIONS

Trade Law

1. The Supplier acknowledges that anything provided by the Supplier to MDLZ


may be (or become) subject to applicable export control, import, customs, trade
sanctions, and embargo laws of the U.S., European Union, and other governments,
including without limitation the U.S. Export Administration Regulations, economic
sanctions rules and regulations implemented in the European Union or under
statutory authority and/or President’s Executive Orders administered by OFAC,
Council Regulation (EC) No. 428/2009 and related implementing regulations, and
any orders issued under the foregoing (collectively “Trade Control Laws”).

2. The Supplier is solely responsible for compliance with Trade Control Laws with
respect to anything it provides to MDLZ.

3. To the extent that MDLZ provides any information to the Supplier, the Supplier
shall not permit any of that information to be used, downloaded, exported, or re-
exported in violation of Trade Control Laws.

4. No provision of, or action required by the Supplier’s agreement with MDLZ will
apply to the extent that it is prohibited under, nor shall the Supplier take any action
that causes MDLZ to be in violation of, Part 760 of the U.S. Export Administration
Regulations or Section 999 of the Internal Revenue Code.

19
5. Upon request, the Supplier shall provide to MDLZ the following information for
each item provided under its agreement with MDLZ if applicable:

(i) Harmonized Tariff Schedule of the U.S. classification or Harmonized System


classification at the six-digit level;

(ii) export classification (e.g. EAR99, Export Control Classification Number);

(iii) country of origin;

(iv) any preferential trade agreements;

(v) certificates of origin or certifications or declarations of preferential origin


eligibility;

(vi) Chemical Abstracts Service number;

(vii) Safety Data Sheets; and

(viii) any document in support of the above.

20
 EXTENT OF COMPLIANCE & DIFFIULTIES ENCOUNTERED IN
COMPLIANCES

A Commitment To Operate In Legal Compliance And With Integrity

Our global compliance and integrity program helps guide our employees to
obey all applicable laws and regulations while conducting business around
the world. It also emphasizes how important it is for us to act with integrity
and make ethical decisions for our business, our shareholders, our employees
and our consumers, because their trust and confidence is critical to our
success.

TRAINING-CONTACT-ACTION – MAKING COMPLIANCE AND


INTEGRITY PART OF OUR CULTURE

We have dedicated business integrity staff and four regional business


integrity officers around the world who work with senior management to
implement our program. Our business integrity team helps ensure our
employees know what is expected of them and how to make the right
decisions, especially when faced with difficult situations. Our live and online
training programs help employees understand legal and ethical business
practices.

21
 LEGAL ISSUE/COURT CASES IN THE PAST

Article: Economics Times

NEW DELHI: It has been a long-running battle for snack maker Mondelez
International, Inc. The company, maker of button-shaped Gems candy-chocolate
and Dairy Milk chocolate bars, has been trying to convince the US and Indian
regulators for seven years that allegations of it having set up a phantom factory in
Himachal Pradesh and paid bribes to regularise it were just that — mere
allegations.

A team from the US Department of Justice (DOJ) may visit India in the next few
days to interview former and current employees of the company.
ET now learns that the investigations both in India and the US are nearing an end.
A team from the US Department of Justice (DOJ) may visit India in the next few
days to interview former and current employees of Mondelez India, formerly
Cadbury India, according to a source at the Central Bureau of Investigation (CBI)
which is assisting the US regulator.
In January this year, US markets regulator the Securities and Exchange
Commission (SEC) had charged Mondelez with poor internal controls and

22
violation of the Foreign Corrupt Practices Act (FCPA) in India. Mondelez agreed
to pay $13 million (approximately Rs 90 crore) in civil penalties without admitting
or denying charges that its subsidiary Cadbury India (now Mondelez India Foods)
paid a consultant who was suspected to have bribed government officials and
possibly top state politicians to obtain licenses and approvals for a chocolate
factory in Baddi, Himachal Pradesh.

Apart from an anti-corruption unit of the CBI assisting DOJ, the Indian agency’s
local unit in Himachal Pradesh and India’s Central Vigilance Commission are also
conducting separate investigations under the Indian Prevention of Corruption Act
of 1988. An investigation by the excise department had found the company and
several of its officials guilty and imposed heavy fines on all of them. The company
is contesting the excise order at the Customs, Excise and Service Tax Appellate
Tribunal.

The case may also pit two of the most celebrated FCPA personalities against each
other — Daniel Kahn who joined the DOJ in 2010 and Mark Mendelsohn who left
the department in the same year for private practice. Kahn is known as one of the
most successful FCPA enforcers while Mendelsohn is considered the architect of
the DOJ’s FCPA enforcement programme. The DOJ’s investigation, headed by
Kahn, chief of FCPA unit, began in 2010 when a whistle blower who worked at
Mondelez (then Cadbury) alerted the department as well as the SEC. Kahn, a
rookie at the DOJ then, was the person the whistle blower first engaged with, the
whistle blower told ET.

A blog called The FCPA Blog which documents enforcement actions under the
eponymous law says Kahn was the lead prosecutor in 10 major cases, including
AlstomNSE 0.30 %. It said the engineering company paid $772 million in criminal
penalties — the biggest criminal fine ever levied for FCPA offences and the
second-biggest FCPA enforcement action overall.
In an emailed response to ET’s queries, Kahn said he was not authorised to
comment but a spokesperson for the DOJ would get back. Peter Carr in the office
of public affairs, DOJ, wrote to ET: “As a matter of policy, the department
generally neither confirms nor denies whether a matter is under investigation.”

A source at India’s CBI told ET on condition of anonymity that “all investigations


are likely to conclude by month end’’. Last month, the CBI had sent out letters to
former and current employees named by DOJ to be present at the agency’s

23
headquarters in Delhi on April 17. However, last week they were informed that
they need not come as the hearing may be held on a later date.

Those letters set off a flurry of activity within Mondelez in the US as well as India.
Mondelez has hired Mendelsohn, FCPA specialist and partner at the law firm Paul,
Weiss to handle the case. “DOJ stud Mark Mendelsohn headed to Paul Weiss’’ is
how the Wall Street Journal headlined his move in 2010 and described FCPA
litigation as “a sizzling hot practice area”.

His profile on the web site of Paul, Weiss says he is “internationally acknowledged
and respected as the architect and key enforcement official of DOJ’s modern
Foreign Corrupt Practices Act (FCPA) enforcement program”. Mendelsohn did not
respond to ET’s message left with his secretary. Mondelez was surprised by the
CBI letter and Mendelsohn personally spoke with those who had received it,
according to two people with direct knowledge of the matter.

A Mondelez spokesperson admitted to ET that it was aware that some of the


former and current employees had received intimations from the CBI. In a written
reply to ET’s queries regarding the DOJ starting criminal proceedings against the
company, the spokesperson said: “We continue to cooperate with all authorities to
address this matter, which relates back to 2010-11, through the administrative and
judicial process. This includes providing our executives with appropriate legal
support during the process. We firmly believe that the decision to claim excise tax
benefit is valid and that our executives acted in good faith and within the law in the
decision to claim excise benefit in respect of our plant in Baddi. We are not aware
of any criminal proceedings having been initiated by any authority against our
company or ex-employees.”

The CBI source said DOJ officials may visit India soon and the employees would
be called then for interviews. The agency had sent a report to the DOJ last year
after the US regulator sent a letter rogatory in January 2016. A letter rogatory is a
formal communication from one country requesting another for help in
investigations in the latter’s jurisdiction.

24
The US request and the ensuing CBI action had come close at the heels of an ET
story on December 8, 2015 which used evidence from Mondelez’s own
investigations, internal emails and documents etc to piece together how it may
have bribed government officials and possibly top politicians. It showed how
Mondelez’s top management in the US knew about the irregularities at least three
months before the SEC-DOJ began their probe.

Mondelez had ordered an internal forensic investigation after allegations surfaced


regarding the bribe payments. According to one internal communication between
company officials, the investigation unearthed evidence that “the allegations
regarding improper payments to government officials appear to be wellfounded”.

25
CHAPTER 6- FACILITY, LOCATION AND LAYOUT

 FACTOR INFLUENCING LOCATION DECISION

26
27
28
29
 FACTOR INFLUENCING LAYOUT DECISION

 Social Factors that Impact Mondelez International Inc


The social factors that impact Mondelez International Inc are a direct reflection of
the society that Mondelez International Inc operates in, and encompasses culture,
belief, attitudes and values that the majority of the population may hold as a
community. The impact of social factors is not only important for the operational
aspect of Mondelez International Inc, but also on the marketing aspect of the
organization. A thorough understanding of the customers, their lifestyle, level of
education and beliefs in a society, or segment of society, would help design both
the products and marketing messages that would lead to a venture becoming a
success.
The social factors that affect Mondelez International Inc and should be included in
the social aspect of the PESTEL analysis include the following:

 The demographics of the population, meaning their respective ages and


genders, vastly impact whether or not a certain product may be marketed to
them. Makeup is mostly catered to women, so targeting a majority male
population would be less population than targeting a population that is
mostly female.
 The class distribution among the population is of paramount importance:
Mondelez International Inc would be unable to promote a premium product
to the general public if the majority of the population was a lower class;
rather, they would have to rely on very niche marketing.
 To some extent, the differences in educational background between the
marketers and the target market may make it difficult to relate to and draw in
the target market effectively. Mondelez International Inc should be very
careful not to lose the connection to the target market's interests and
priorities.
 Mondelez International Inc needs to be fully aware of what level of health
standards, reactions to harassment claims and importance of environmental
protection prevail in the industry as a whole, and thus are expected from any
company as they are seen as the norm.

30
 Technological Factors that Impact Mondelez International Inc
Technology can rapidly dismantle the price structure and competitive landscape of
an industry in a very short amount of time. It thus becomes extremely important to
constantly and consistently innovate, not only for the sake of maximizing possible
profits and becoming a market leader, but also to prevent obsolescence in the near
future. There are multiple instances of innovative products completely redesigning
the norm for an entire industry: Uber and Lyft dominate the taxi cab industry;
smartphones have left other phones an unviable option for most et cetera.
The technological factors that may influence Mondelez International Inc may
include the following:

 The recent technological developments and breakthroughs made by


competitors, as mentioned above. If Mondelez International Inc encounters a
new technology that is gaining popularity in the industry in question, it is
important to monitor the level of popularity and how quickly it is growing
and disrupting its competitors’ revenues. This would translate to the level of
urgency required to adequately respond to the innovation, either by matching
the technology or finding an innovative alternative.
 How easy, and thus quickly, will the technology be diffused to other firms in
the industry, leading to other firms copying the technological processes/
features of Mondelez International Inc
 How much an improvement of technology would improve/ transform what
the product initially offers. If this improvement is drastic, then other firms in
the industry suffer more heavily.
 The impact of the technology on the costs that most companies in the
industry are subject to have the potential to increase or reduce the resulting
profits greatly. If these profits are great in number, they may be reinvested
into the research and development department, where future technological
innovations would further raise the level of profits, and so on, ensuring
sustainable profits over a long period of time.

31
 Environmental Factors that Impact Mondelez International Inc
Different industries hold different standards of environmental protection in their
head as the norm. This norm then dictates what every company should aim for, in
the least, to prevent becoming the target of pressure groups and boycotts due to a
lack of environmental conscientiousness. A company in the textile industry, for
example, is not expected to incur the same level of pollution and environmental
degradation as an oil company. The new consumer, armed with the interest and the
knowledge it carries, prefers to give its business to companies it views as more
ethical, particularly about the environment in the wake of global warming.
The environmental factors that may significantly impact Mondelez International
Inc include:

 The current weather conditions may significantly impact the ability of


Mondelez International Inc to manage the transportation of both the
resources and the finished product. This, in turn, would affect the delivery
dates of the final product in the case of, say, an unexpected monsoon.
 Climate change would also render some products useless. For example, in
the case of textiles, in countries where the winter has become very mild due
to Global Warming, warm winter clothes have much less of a market.
 Those companies that produce extremely large amounts of waste may be
required by law to manage their environmental habits. This may include
pollution fines and quotas, which may place a financial strain on Mondelez
International Inc
 If Mondelez International Inc should (knowingly or unknowingly) contribute
to the further endangerment of an already endangered species may face not
only the consequences from the law but also face a backlash from the
general public who may then boycott Mondelez International Inc in
retaliation.
 While relying, in any percentage, on renewable energy may be expensive, it
often receives support not only from the government but also from its
customer base, who may be willing to pay a premium price for the products
that Mondelez International Inc may produce.

32
 Economic Factors that Impact Mondelez International Inc
Economic factors are all those that pertain to the economy of the country that
Mondelez International Inc, such as changes in the inflation rate, the foreign
exchange rate, the interest rate, the gross domestic product, and the current stage of
the economic cycle. These factors, and their resulting impact on aggregate demand,
aggregate investment and the business climate, in general, have the potential to
make a company highly profitable, or extremely likely to incur a loss. The
economic factors in the PESTEL analysis are macroeconomic.
The economic factors that Mondelez International Inc may be sensitive to, and in
turn should consider before investing may include the following:

 The economic system that is currently operational in the sector in question-


whether it is a monopoly, an oligopoly, or something similar to a perfect
competition economic system.
 The rate of GDP growth in the country will affect how fast Mondelez
International Inc is expected to grow in the near future.
 The interest rates in the country would affect how much individuals are
willing to borrow and invest. Higher rates would result in greater
investments that would mean more growth for Mondelez International Inc
 However efficiently the financial markets operate also impact how well
Mondelez International Inc can raise capital at a fair price, keeping in mind
the demand and supply.
 The exchange rate of the country Mondelez International Inc operates in
would impact the profitability of Mondelez International Inc, particularly if
Mondelez International Inc engages in international trade. The stability of
the currency is also important- an unstable currency discourages
international investors.
 A high level of unemployment in the country would mean there is a greater
supply of jobs than demand, meaning people would be willing to work for a
lower wage, which would lower the costs of Mondelez International Inc

33
 Political Factors that Impact Mondelez International Inc
The political factors that may impact the profitability or chances of survival of the
company are quite diverse. The political risks vary from sudden changes in
existing political regimes to civil unrest to major decisions taken by the
government. In cases of possible multinationals, one may also include political
factors that take place/ affect not only the host country but also all countries that
contain business operations, or that may engage in trade with Mondelez
International Inc
To properly appraise the extent of the overall systematic political risk that
Mondelez International Inc may be exposed to, the following factors should be
considered before taking part in any investments:

 The level of political stability that the country has in recent years.
 The integrity of the politicians and their likelihood to take part in acts of
corruption, as the resulting repercussions may lead to possible
impeachments or resignations of high level government employees.
 The laws that the country enforces, especially with regards to business, such
as contract law, as they dictate what Mondelez International Inc is and is not
allowed to do. Some countries, for example, prohibit alcohol or have certain
conditions that must be fulfilled, while some government systems have
inefficient amounts of red tape that discourage business.
 Whether or not a company’s intellectual property (IP) is protected. For
example, a country that has no policies for IP protection would mean that
entrepreneurs may find it too risky to invest in Mondelez International Inc
 The trade barriers that the host country has would protect Mondelez
International Inc; however, trade barriers that countries with potential trade
partners would harm companies by preventing potential exports.
 A high level of taxation would demotivate companies like Mondelez
International Inc from maximizing their profits.
 The risk of military invasion by hostile countries may cause divestment from
ventures.
 A low minimum wage would mean higher profits and, thus, higher chances
of survival for Mondelez International Inc

34
 CAPACITY PLANNING AND DECISION MAKING/SALES
FORECASTING METHODS

Mondelez International is operating in the global snack business and makes billion-
dollar brands such as Cadbury, Oreo and Milka Chocolate. Besides their nine
billion dollar brands, the company further owns 53 power brands, which each
generate revenue amounting to more than 100 million U.S. dollars. The company is
headquartered in Deerfield, Illinois and was launched on October 1st, 2012 due to
the spin-off of Kraft Foods' North American grocery business to shareholders. The
firm's name was chosen based on the employee’s input and consists of a
combination of terms for ‘world’ and ‘delicious’ in romantic languages. The firm’s
portfolio consists of biscuits, chocolate, beverages, gum and candy, and cheese and
groceries.

35
Mondelez’ chocolate segment is represented by famous brands including Cadbury,
Toblerone and Milka. Milka is especially popular on the European markets, where
you would be hard pressed if someone wouldn’t recognize the leading chocolate
brand with its iconic white lettering against the bright purple background. The
brand logo also includes a lilac milk cow, which symbolizes its Alpine heritage.
Based on company information, Milka was registered as a trade mark on April 24,
1901. The term ‘Milka’ is a combination of milk (Milch) and cocoa (Kakao) in
German language.

36
 INVENTORY MANAGEMENT

Inventory turnover measures how fast the company turns over its inventory within
a year. It is calculated as Cost of Goods Sold divided by Total Inventories.
Mondelez International's Cost of Goods Sold for the three months ended in Sep.
2019 was $3,839 Mil. Mondelez International's Total Inventories for
the quarter that ended in Sep. 2019 was $2,737 Mil. Mondelez International's
inventory turnover for the quarter that ended in Sep. 2019 was 1.40.
Days Inventory indicates the number of days of goods in sales that a company has
in the inventory. Mondelez International's Days Inventory for the three months
ended in Sep. 2019 was 65.04.
Total Inventories can be measured by Days Sales of Inventory (DSI). Mondelez
International's days sales of inventory (DSI) for the three months ended in Sep.
2019 was 39.29.
Inventory-to-Revenue determines the ability of a company to manage their
inventory levels. It measures the percentage of Inventories the company currently
has on hand to support the current amount of Revenue. Mondelez
International's Inventory-to-Revenue for the quarter that ended in Sep.
2019 was 0.43.

37
Mondelez International Inventory Turnover Calculation

Mondelez International's Inventory Turnover for the fiscal year that ended in Dec.
2018 is calculated as

* All numbers are in millions except for per share data and ratio. All numbers are
in their local exchange's currency.

38
39
CHAPTER 7- HR POLICIES OF MONDELEZ INTERNATIONAL

 WAGE & SALARY

Mondelez International, Inc. pays its employees an average of $79,102 a year.


Salaries at Mondelez International, Inc. range from an average of $44,281 to
$138,478 a year. Mondelez International, Inc. employees with the job title Senior
Research Scientist (Unspecified Type) make the most with an average annual
salary of $94,551, while employees with the title Retail Sales Representative make
the least with an average annual salary of $41,091.

HR is shaping the future of Mondelēz International – driving top-tier financial per-


formance, creating a ‘great place to work’ and developing the world-class capa-
bilities to help us win in our key markets.

Our vibrant, agile and highly skilled HR community is a valued partner to the
business and our 90,000+ global employees, managing the full people process from
hire to retire.

40
 We are leaders in organizational and change management, cultural
integration and employee engagement.
 We are responsible for recruitment, succession planning, talent and
performance management, creating a strong pipeline of inspirational, global
leaders.
 We operate our Total Rewards policy so individuals are recognized for their
contributions.
 We provide effective HR solutions in everything from workforce
administration to employee relations, payroll and HR analytics.

Our business priorities are fertile ground for us to do amazing work and for our
people to enjoy an incredibly diverse range of career experiences.

41
 RECRUITMENT & SELECTION

We are delighted you are interested in joining Mondelēz International! In a global


organisation like ours, there are many exciting opportunities for all kinds of unique
skill-sets. But, whichever of these roles is right for you, we’re always looking for
talented and passionate people to live our values and help us become the best
snacking company in the world.

Before becoming part of our business, we need to make sure you are the right
person for us and equally you will need to make sure we are the right company for
you. We want to make it as straightforward as possible for our future colleagues to
join our MDLZ team - the process may vary slightly by role, country or entry level,
but below is a guide of what you can expect. We are an international business with
English as our official business language – as such some stages will take place in
English.

1. ONLINE APPLICATION

Our online application process is really simple, all we need you to do at this stage
is complete an online application form and upload your resume. Once you’ve
found a job you’re interested in by clicking ‘Search Jobs’ at the top right of any
page on our website, click ‘apply online’, and we’ll take you through the process,
step-by-step. If you have previously applied for a role or registered with us, save
time by logging in with your existing details. Forgot your username or password?
Don’t worry, you can easily recover this by clicking on the links below the login
fields. Remember, you can save your application as a draft at any time and come
back to complete it at a time that suits you!

2. PRE-SELECTION

Depending on the kind of role you’ve applied for, this next stage might be slightly
different. Generally it will be a case of simply having a chat.

42
3. INTERVIEW

If we see a fit at the pre-selection stage, we’ll invite you to an interview, either
onsite or virtually, with the recruiting manager. This is an opportunity to talk
through your application in a bit more detail, and go into greater detail around your
skills, capabilities, experience level and fit for the role. We may also ask you to
complete a project or presentation, depending on the specific role. Once you've
completed the process, we'll carefully consider your performance and try our best
to give you a quick decision. For tips on how to be at your best during the
interview, click here. There might be some testing or background checking at this
point (or after offer) depending on the country or region where the job is based.

4. JOB OFFER

If we think you would be successful at Mondelēz International, and you feel the
same about us, this is the exciting part where we offer you the job! All that needs
to happen then is for us to send you an employment contract, plan your in-depth
induction and agree your start date. And,

BE CAREFUL

We’ve been told about an online recruitment fraud involving fake Mondelēz
International job postings. These postings impersonate our company and
employees in an attempt to wrongfully gather personal data and money from
candidates. We take this matter very seriously and are doing everything we can to
put an end to it. Just in case, please watch out for:

 Emails that originate from a non @mdlz.com address. All our employees,
including our recruitment teams, use email addresses that end in
@mdlz.com.
 Job postings or emails with poor spelling and grammar.
 A job offer when no face-to-face interview has taken place. As part of our
recruitment process, we almost always meet candidates in person, at least
once.

43
 Early requests for extensive personal information such as passport and bank
account details. We would only request passport information at the in-person
interview stage and bank account details once you’ve accepted a job offer
and started the onboarding process.
 Offers of employment in international locations – often with requests for
"visa processing fees". We would never ask for money from candidates as
part of our recruitment process.

Should anyone make an unsolicited or suspicious offer of employment on behalf of


Mondelēz International, please contact your local police department.

44
 PERFRMANCE APPRAISAL

Performance appraisal is the process of evaluating and documenting an employee’s


performance with a view to enhancing work quality, output and efficiency.
Performance appraisals perform three important functions within companies.

They provide feedback to a person on their overall contribution for a period.

They identify development needs and opportunities for improvement.

They help inform salary and bonus reviews.

In most effective performance appraisal processes, an employee and their manager


will meet at regular intervals to:

1. reflect on what is required of the employee to do their job well (including


behaviour and results)
2. set goals that will benefit the individual and the business
3. share feedback on great work as well as areas for improvement
4. identify opportunities to develop performance through ongoing education,
training and learning
5. formally review performance after a specific period
6. reward a job well done

45
Employee Development

Becoming the best employer and achieving the first-rate performance are two
major global strategic targets of Mondelēz International; therefore, talents are of
significant importance to us.
To this end, we have meticulously worked out a series of training and development
programs, which enables each employee to enjoy timely guidance, feedback, and
assistance at different stages of their career so as to achieve higher performance.
The key programs include:

Mondelēz Delicious Academy


In this program, the company’s highly competent trainers provide training in
business fundamentals, self-management, task management, and staff
management, to meet the training needs of employees at different development
stages and help them improve basic skills, management capabilities and leadership.

New Manager Boot Camp


Rich course content including education, experience, and exposure is provided
based on Mondelēz's leadership model, to help new managers better realize role
transition and achieve greater success at their new posts.

Mondelēz MBA Program


Cooperate with renowned business colleges and develop self-leadership and
business and team leadership, to help mid-level managers with high potentials to
rapidly increase professional knowledge, improve leadership skills, and expand
social network.

46
 GRIEVANCE REDRESSAL

Article: Economics Times

Competition Commission of India rejects complaint against Cadbury chocolate


maker Mondelez. It was alleged that Mondelez India Foods and Mondelez
International abused its dominant position by imposing unfair terms in their
dealership agreement.

NEW DELHI: Competition Commission has rejected allegations of unfair business


practices made against Mondelez, which owns popular chocolate brands, including
Cadbury Dairy Milk and Gems.
It was alleged that Mondelez India Foods and Mondelez International abused its
dominant position by imposing unfair terms in their dealership agreement.
Mondelez is a leading manufacturer of chocolate confectioneries and beverages,
among others.

After looking into the matter, the Competition Commission of India (CCI) decided
to reject the complaint saying that prima-facie there is no violation of fair trade
norms.
"... the alleged conduct of opposition party 1 (Mondelez India) does not appear to
be covered under any of provisions of the (Competition) Act. Further, there
appears to be no appreciable adverse effect on competition (AAEC) in chocolate
market.
"... the alleged conduct of opposition party 1 (Mondelez India) does not appear to
be covered under any of provisions of the (Competition) Act. Further, there
appears to be no appreciable adverse effect on competition (AAEC) in chocolate
market.

47
This issue prima facie does not seem to raise any competition concern and "appears
more to be a business dispute between the manufacturer and distributor," it said.
The complainant had also alleged that it was forced to supply to defaulting parties,
manipulating the damage settlement policy and entering into the market of instant
fruit flavoured drinks and biscuits by leveraging its dominant position in the
market for non-premium chocolates.

Mondelez India -- which came into existence following the acquisition of Cadbury
India Ltd by Kraft Foods Inc in 2010 -- has several brands, including Cadbury
Bournvita, Cadbury Dairy Milk, Gems, 5-Star, Perk and Bournville.

48
 LEAVES, BONUS, WELFARE MEASURES

At Mondelez International, Inc., they provide many pension plans and other
welfare benefits. Countless companies in the United States, like Mondelez
International, Inc., sponsor group health benefits for their employees, through
which companies typically cover a large portion of their workers' health insurance
premiums. These contributions are tax deductible for businesses and tax-free for
employees. Mondelez International, Inc. offers health, dental, and vision coverage.
Mondelez International, Inc. also offers group life insurance, short-term disability
insurance for accidents or illness, death benefits, which cover certain causes of
death, and long-term disability insurance. To help ensure a reliable money source
later in life, countless employees depend on employer-funded retirement plans.
Mondelez International, Inc. provides defined benefit pension plans and defined
contribution pension plans. Companies with defined benefit retirement plans pay
retirees a fixed sum upon retirement. With a defined contribution pension plan,
companies help employees save and invest for retirement.

 “Employee get the products at a cost price”

 “Good time off and they used to supply long term leave but have stopped
that benefit.”
 Company pays for the day care facility for your kids. Flexible work hours.

 Best is Understanding the chocolate industry and how market functions,


learning is available and coming to the bad part, your work is always defined
by how you reach the target with a bad incentive structure from the
distribution point and less payment from the Company.

 Good breakdown of fixed and variable component, employee discounts,


superannuation and other additions are also decent.

49
 It is not as flexible as other FMCG companies. In comparison to E-
commerce industry, a lot needs to be revised to make the benefits attractive
for the employees.

 Great work life balance, best pay, good incentives Worst: culture has
become bad because of company’s huge cost cutting initiatives. No team
bonding activities. Uncertainty .

 Even if compensation is best in industry, the benefits are below industrial


standards. The daily expense slabs, accommodation and health care policies
are just below average.

 Good Place to work who are in Operation, CS&L, Quality and Safety.

Human Rights

Everyone should be treated fairly and with dignity. It’s a basic human right. And
we believe there is a role for everyone to play in preserving that right – from
governments and non-governmental organizations to civil society and the private
sector. At Mondelēz International, we focus on where we can make a difference in
our business operations, with our direct suppliers and in the broader community.
View our Code of Conduct and other documents in our Compliance &
Integrity section for more information around our approach to human rights.

50
CHAPTER 8- MANAGEMENT INFORMATION SYSTEM

 MANAGEMENT SUPPORT SYSTEM AND OFFICE AUTOMATION


SYSTEM

Increasingly busy lifestyles and an evolving global demographic are influencing


consumer eating habits like never before. Demand for products which consumers
can eat on the go, that are easy, healthy and accessible from a cost perspective, are
all important factors which are reshaping the development of new products across
the food and beverage industry.

Amassing a net revenue of $9.7bn in 2016, and with 30,000 employees worldwide,
confectionary juggernaut Mondelēz International houses a number of renowned
snack brands. From Cadbury, Côte d'Or, Oreo and BelVita, to Babbaloo and
Philadelphia, the company remains committed to driving business growth and
fulfilling its ambition to ‘create delicious moments of joy’ for consumers.

“When you receive a snack, the feeling you get is a sense of happiness- a moment
of joy. We put a lot of that passion into the way we work, and the way we make
and market our products,” Director of Information Technology Henson Sy
explains.

“For example, with sales force automation (SFA), we show what it will look like in
the next few years. If I'm bringing in this thinking, it can then be built into their
roadmap. When I first joined in 2014, Mondelēz’s sales force were selling via pen
and paper. In some rare instances, they may have had Netbooks,” he continues.

“We made a big bet for our sales force to use mobile devices. The full deployment
of mobile devices is more cost effective and ubiquitous. It makes data available to
us almost instantaneously. We use app stores which are freely available to mass
deliver the app. Looking at what’s next, I asked instead of giving sales reps the
app, why don't we give the retail stores the app, where they can have this service
on their mobile devices in the store.”

51
“Beyond this, we looked at chatbots via Facebook Messenger and so on. We have
different technologies, bringing intelligence behind it as well. Machines can figure
out what to sell best in that store based on history and location trends, and let the
sales staff just monitor or manage relationships,” he adds.

Upon implementing SFA for sales reps, Sy also worked to implement cloud
technology to support its mobile app platform to strengthen its security
mechanisms, minimising potential risks or delays in service.

“Using this as an important lesson, cloud technology is now being extended to


other functions. We are now bringing technological innovation into our operations,
not just in sales and marketing, e-orders, digital marketing or ecommerce, but we're
putting it into supply chains as well, finance and HR.”

Innovation culture

With the introduction of the Hub for Innovation team, which Sy is a part of,
Mondelez is seriously investing in innovations. The team’s focus is to think big,
innovate fast and disrupt at scale. It has rolled out proof of concepts around the
world that have positively impacted business as well as drive a culture of
innovation.

Additionally, the launch of Mondelez University will encourage employees to look


at new ways of working and learning.

“We partner with Accenture amongst others, in the innovations space, where they
have provided a framework to how we set up an innovation culture, how we set up
innovation immersion sessions so that we drive the whole culture, from top to
bottom,” says Sy.

“We also harness best of breed technologies from SAP and distributor management
system by Infosys Edgeverve. We have a product, which is scalable and just
works. When we implemented it in the Philippines, we just replaced all of our
legacy client-server tools with this cloud-based solution.”

52
Personalisation
The food and beverage industry across Asia has amounted to $42.393mn, and is
expected to steadily rise, with China being the main country responsible for this
rise, according to Statista.

Consequently, the company is striving to expand its renowned wellbeing brands,


improve the nutrition and ingredients of its snacks, and develop further products
which each market will savour.

“We know consumers are looking for healthier snacks and meals, paying particular
attention to the ingredients used,” observes Sy.

“In the US and Europe, we have BelVita, which is an early breakfast snack. When
we launched it in China, it was a surprise that consumers didn't like it. We heavily
marketed it as a healthy alternative, but the take-up was not where we want it to be.

“Chinese people and Asians in general do not like to bite into hard stuff in the
morning. They eat buns, breads, porridge, something which is easy to bite and
digest. Giving them a hard snack such as BelVita wasn’t going to work,” he says.

“Another product was Oreo. Although it is quite popular in the US, when we took
this to China or elsewhere in Asia, like India, we’ve had to either reduce sugar
content or increase it. The twist, lick and dunk ritual is also an American concept
that required being accustomed to it first.”

“To them, you just eat the biscuit. To make it more exciting, we introduced
different flavors that used different ingredients. Take for example, Oreo Green
Tea Ice Cream and Oreo Strawberry.”

53
 DATA WAREHOUSING, DATA MINING

Data strategy, data architecture and data management advances additionally are
compounding the challenges of modern data warehousing. Whether you are
pursuing cloud migration initiatives or beginning to work with real-time, streaming
data, new challenges can quickly exceed a team’s ability to do the work
manually. Data warehouse automation, or more broadly categorized as data
infrastructure automation, fills a critical and essential role in modernization and
agility efforts.

In Information Systems, you’ll connect and empower every aspect of our global
organization through excellence in technology and services. This includes
investing in growth-enabling solutions as well as systems that integrate our supply
chain from procurement to manufacturing, and customer service to logistics.
You’ll help Mondelēz International implement the right business capabilities,
powered by better information.

54
 LOOPHOLES/LIMITATIONS/ISSUES OF MIS

A Management Information System (MIS) is a valuable tool company


management uses to gauge the effectiveness of their business operations. The
MIS can provide detailed insight to certain portions of a company and also assist
management with making critical business decisions. While the style and format
of the MIS has changed over the years, its use in management decisions has
increased greatly.

MIS Expense

MIS implementation can be very expensive for companies looking to manage


their operations more effectively. All divisions and processes must be reviewed
when determining what information management wants extracted for decision
purposes. The cost of this review followed by the installation costs can be
extremely expensive for large companies. Additionally, new employee hiring or
employee training related to the MIS can also add to the implementation costs.

Employee Training

Properly trained employees are a critical part of an MIS. Employees are at the
front lines of business operations and create or manage the daily activities of the
company. If an MIS finds a system flaw or management decides to change a
process based on the MIS information, re-training employees will usually be
required. The length and depth of the training may vary, making it difficult to
estimate the cost of this training. Management will also have to account for the
lost productivity during this training period.

55
MIS Flexibility

Once an MIS is created and installed in a company, it may prove to be an


inflexible system. Making changes quickly to reflect fluctuating business
operations may not be possible depending on the MIS style and functionality.
While correcting policies such as internal controls or operating procedures may
be easy, company-wide changes such as service changes, production
enhancements or marketing strategy may not be simple. Major business changes
will require major changes to the MIS, leading to increased costs and downtime
of information reporting.

Information Flaws

The MIS is designed to provide information to management so sound decisions


can be made regarding company operations. The biggest flaw an MIS can have is
pulling incorrect or inadequate information for management. This problem results
in wasted time and money for the company, leading to another review of the MIS
to correct the information flaws.

56
CHAPTER 9- CONCLUSION

Mondelez India Foods Private Limited is a part of the Mondelēz International


group of companies and is in the business of creating delicious moments of joy –
by producing delectable chocolate confectionaries, gum and candy products, and
popular beverages and foods that include many of India's most popular and trusted
food brands. Headquartered in Mumbai, Mondelez India Foods Private Limited has
sales offices in New Delhi, Mumbai, Kolkata and Chennai and manufacturing
facilities at Induri (Pune), Malanpur (Gwalior), Baddi (Himachal Pradesh) and Sri
City.

Mondelēz International is one of the world's leading manufacturers of


confectionery products and powdered beverages. The company's products are sold
in more than 160 countries. Its portfolio includes a number of billion-dollar brands,
such as Milka and Cadbury Dairy Milk (chocolate), LU (biscuits), Nabisco and
Oreo (cookies), Tang (powdered beverages), or Trident (gum).
In the Czech Republic and Slovakia, Mondelēz International, which also includes
Opavia, has been operating since 1992 and is now the exclusive manufacturer of
cookies and chocolate confectionery in these markets. In both countries, the
company employs about three thousand people and sells an incredible 430 products
under 19 brands.
In 2019, a control and monitoring system (Project Hector) was installed at the
manufacturing plant in the city of Opava. The system consists of WAGO PLCs
and the Reliance SCADA/HMI system.

At Mondelez International, Inc., they provide many pension plans and other
welfare benefits. Countless companies in the United States, like Mondelez
International, Inc., sponsor group health benefits for their employees, through
which companies typically cover a large portion of their workers' health insurance
premiums. These contributions are tax deductible for businesses and tax-free for
employees. Mondelez International, Inc. offers health, dental, and vision coverage.
Mondelez International, Inc. also offers group life insurance, short-term disability
insurance for accidents or illness, death benefits, which cover certain causes of
death, and long-term disability insurance.

57
At Mondelez International, Inc., they provide many pension plans and other
welfare benefits. Countless companies in the United States, like Mondelez
International, Inc., sponsor group health benefits for their employees, through
which companies typically cover a large portion of their workers' health insurance
premiums. These contributions are tax deductible for businesses and tax-free for
employees. Mondelez International, Inc. offers health, dental, and vision coverage.
Mondelez International, Inc. also offers group life insurance, short-term disability
insurance for accidents or illness, death benefits, which cover certain causes of
death, and long-term disability insurance. To help ensure a reliable money source
later in life, countless employees depend on employer-funded retirement plans.
Mondelez International, Inc. provides defined benefit pension plans and defined
contribution pension plans. Companies with defined benefit retirement plans pay
retirees a fixed sum upon retirement. With a defined contribution pension plan,
companies help employees save and invest for retirement.

Cadbury’s management style is democratic. This is when all members of staff work
together as a team. The managers listen to the other employees ideas and
suggestions before they go ahead with decisions. If ideas are found to be achievable
and successful by the senior group, then it is taken forward. Then as a team they
reach a decision. The approach of this style is that they care and listen to everyone in
the teams view and what they think not just their own. This style can be used in both
large and small groups.

Days Inventory indicates the number of days of goods in sales that a company has
in the inventory. Mondelez International's Days Inventory for the three months
ended in Sep. 2019 was 65.04. Inventory-to-Revenue determines the ability of a
company to manage their inventory levels. It measures the percentage of
Inventories the company currently has on hand to support the current amount of
Revenue. Mondelez International's Inventory-to-Revenue for the quarter that
ended in Sep. 2019 was 0.43.

58
Mondelez International, Inc. pays its employees an average of $79,102 a year.
Salaries at Mondelez International, Inc. range from an average of $44,281 to
$138,478 a year. Mondelez International, Inc. employees with the job title Senior
Research Scientist (Unspecified Type) make the most with an average annual
salary of $94,551, while employees with the title Retail Sales Representative make
the least with an average annual salary of $41,091.

Becoming the best employer and achieving the first-rate performance are two
major global strategic targets of Mondelēz International; therefore, talents are of
significant importance to us. Everyone should be treated fairly and with dignity.
It’s a basic human right. And we believe there is a role for everyone to play in
preserving that right – from governments and non-governmental organizations to
civil society and the private sector. At Mondelēz International, we focus on where
we can make a difference in our business operations, with our direct suppliers and
in the broader community.
Competition Commission of India rejects complaint against Cadbury chocolate
maker Mondelez. It was alleged that Mondelez India Foods and Mondelez
International abused its dominant position by imposing unfair terms in their
dealership agreement.

Everyone should be treated fairly and with dignity. It’s a basic human right. And
we believe there is a role for everyone to play in preserving that right – from
governments and non-governmental organizations to civil society and the private
sector. At Mondelēz International, we focus on where we can make a difference in
our business operations, with our direct suppliers and in the broader community.
View our Code of Conduct and other documents in our Compliance &
Integrity section for more information around our approach to human rights.

A Management Information System (MIS) is a valuable tool company


management uses to gauge the effectiveness of their business operations. The
MIS can provide detailed insight to certain portions of a company and also assist
management with making critical business decisions. While the style and format
of the MIS has changed over the years, its use in management decisions has
increased greatly.

59
CHAPTER 10- SUGGESTIONS

Q. How else does legal support growth initiatives at Mondelez?


A. The company fuels growth through a category model. So the legal function has
established a dedicated regional category counsel that partners with marketing to
execute programs by country/region and by dedicated teams and through our
global IP team, which supports global, regional, and country lead projects with a
structure that leverages functional expertise and streamlined service delivery.

60
61
CHAPTER 11- REFERENCES

 NEWSPAPER:

Economics Times

 WEBSITES:

https://in.mondelezinternational.com/impact/corporate-social-responsibility

https://en.wikipedia.org/wiki/Mondelez_International

https://in.mondelezinternational.com/about-us/india-business

https://prezi.com/xr170jiyffl7/principles-of-management-mondelez-international/

https://www.essay48.com/term-paper/2953-Mondelez-International-Inc-Pestel-Analysis

62
CHAPTER 12- APPENDIX

63

You might also like