Essay About Currency Of Singapore And Kraft Foods

Kraft Food Inc
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Kraft is the largest branded food and beverage company in North America and the second largest in the world. It operates in more than 150 countries worldwide. Kraft Foods markets the worlds favorite food and beverage brands in five product sectors namely the snacks, beverages, cheese and dairy, grocery and convenient meals.

Kraft also has 35 major brands with more than 100 years of remarkable achievements in products such as the Oscar Mayer meats, Maxwell House coffee, Jell-O gelatin and Milka chocolate. Kraft constantly strives to continue making historic records with the launch of different new products designed to meet the ever-changing needs of the consumer.

Vision, Mission and Goals
Vision
Kraft’s company vision is to lend a helping hand to the people around them to have a better life and a healthy life-style.
Kraft’s vision is to meet consumers needs and making food enjoyable and healthier. Kraft strives to deliver the message to their consumers that they value the importance of health and wellness and to provide the best and to deliver the value and quality of their products and services.

Mission
For Kraft to remain successful in the long-run, they have to ensure that they constantly re-strategize their products categories to suit the needs of the consumers. Seize the opportunity to exploit its sales capabilities by coming up with different marketing strategies.

Goals
Kraft’s corporate goals is to ensure that their products are innovative, high-quality which offer optimum satisfaction to consumer, safe to consume, respectful to environmental needs, and the openness and integrity they seek to commit to the consumers.

These are the values for which Kraft’s closely follows to achieve their corporate goals by being truthful to their consumers.
Environmental Analysis of the industry :
Singapore Economic overview
Singapore, a highly-developed and successful free-market economy, which historically revolves around extended entrepot trade and enjoys a remarkably open and corruption-free environment. The economy mainly depends heavily on exports

Financial-Currency
The currency of Singapore is the Singapore Dollar (SGD) represented by the symbol S$. The central bank of Singapore is the Monetary Authority of Singapore, responsible for issuing currency. Singapore established the Board of Commissioners of Currency, Singapore, on April 7, 1967 and issued its first coins and notes. The Singapore dollar was exchangeable at par with the Malaysian Ringgit until 1973. Interchangeability with the Brunei dollar is still maintained. On 27 June 2007, to commemorate 40 years of currency agreement with Brunei, a commemorative S$20 note was launched; the back is identical to the Bruneian $20 note launched concurrently. A circulation version of the $20 note will be able to be exchanged at banks in Singapore. From 1967 until June 1973, the Singapore dollar was tied to the United States dollar, and thereafter the currency was allowed to float.

Source:www.photius.com/countries/singapore/economy/singapore_economy_currency_trade_and~1561.html;
Cultural
As Singapore is a small and relatively modern amalgam of Chinese, Malay, Indian and European immigrants, the culture of Singapore expresses the diversity of the population as the various ethnic groups continue to celebrate their own cultures while they intermingle with one another. For example, one can find a Malay wedding taking place beside a Chinese funeral at a void deck, on the ground floor of a HDB apartment block. This can be said to be due to the policies of the HDB which tried to make sure all public housing have a diverse mix of races. However, Singapore has achieved a significant degree of cultural diffusion with its unique combination of these ethnic groups, and has given Singapore a rich mixture of diversity for its young age.

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Social
Population: According to government statistic, the total population of Singapore as of September 2007 is 4.68 million, of which 3.7 million are Singaporean citizens and permanent residents (termed Singapore Residents) Of this group of about 3.7 million people, Chinese form 75.2%, Malays form 13.6%, Indians form 8.8%, while Eurasians and other groups form 2.4%.

Religion: Singapore is a multi-religious country. According to Statistics Singapore, around 51% of resident Singaporeans (not including significant numbers of visitors and migrant workers) practice Buddhism and Taoism. About 15%, mostly Chinese and Indians, practice Christianity – a broad classification including Catholicism, Protestantism and other denominations. Muslims constitute 14%, of whom Malays account for the majority with a substantial number of Indian Muslims. Smaller minorities practice Sikhism, Hinduism and others, according to the 2000 census. About 15% of the population declared no specific religious affiliation.

Languages: The national language of Singapore is Malay for historical reasons, and it is used in the national anthem, “Majulah Singapura”. The official languages are English, Mandarin, Malay and Tamil. English has been promoted as the countrys language of administration since independence. The English used is primarily British English, with some American English influences. The use of English became widespread in Singapore after it was implemented as a first language medium in the education system, and English is the most common language in Singaporean literature. Public signs and official publications are in English, although there are translated versions in other official languages. However, the majority of the population speaks a localised hybrid form of English known as Singlish (“Singapore English”), which has many creole-like characteristics, incorporating vocabulary and grammar from Standard English, various Chinese dialects,