Hershey is an American multinational company that is one of the largest chocolate manufacturers in the world. The company was founded in 1894 by Milton S. Hershey, who started the business in Lancaster, Pennsylvania. Over the years, Hershey has grown significantly, and it now has operations in over 60 countries. The company is known for its popular chocolate brands, such as Hershey's, Kit Kat, and Reese's, as well as its other products, such as ice cream and confectionery.
In terms of corporate governance, Hershey has a number of systems and practices in place to ensure that it is managed in an ethical and transparent manner. One of the key elements of Hershey's corporate governance is its board of directors, which is responsible for overseeing the company's operations and ensuring that it is run in the best interests of its stakeholders. The board consists of independent directors as well as executive directors, and it is chaired by a non-executive director.
Hershey has also implemented a number of policies and procedures to ensure that it complies with all relevant laws and regulations, as well as its own code of conduct. The company has a code of ethics that sets out the expectations and standards of behavior that all employees are expected to follow, and it has a whistleblower policy that allows employees to report any concerns about unethical behavior.
In addition, Hershey has a number of committees that are responsible for specific areas of the business, such as audit, compensation, and governance. These committees provide oversight and guidance on various matters related to the company's operations, and they report to the board of directors.
One of the key elements of Hershey's corporate governance is its commitment to sustainability. The company has a number of initiatives in place to reduce its environmental impact and to support the communities in which it operates. For example, Hershey has set targets for reducing greenhouse gas emissions, and it has implemented a number of programs to promote sustainable sourcing of cocoa and other ingredients.
In conclusion, Hershey has a strong corporate governance structure in place that is designed to ensure that the company is managed in an ethical and transparent manner. The company's board of directors, committees, and policies and procedures all contribute to this, as does its commitment to sustainability and its efforts to support the communities in which it operates.
The Hershey Governance Settlement; New Governance Principles; Responsible Corporate Officer Doctrine: Corporate Law And Governance Update, August 2016
Critics do claim that The Hershey Company lags years behind competitors like Mars and Nestle in addressing these issues Stevens, 2012. A good implementation framework shows the proposed plan and how the organisations' resources would be used to achieve the objectives. Purchasing power return, a new paradigm of capital investment appraisal. After this, the relevant tools and models are used, which help in the case study analysis and case study solution. This is the second step which will include evaluation and analysis of the given company. Providing two undesirable alternatives to make the other one attractive is not acceptable. On the basis of this, you will be able to recommend an appropriate plan of action.
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Corporate Governance in the Hershey Company Essay Example
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The Hershey Trust Managing Conflicts of Interest in Corporate Governance Case Study Solution
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