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         Section one




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                                                                                                                                                         By helpinG uS
                                                                                                                                                       Build our BrandS


                           Build
                         0.431"




                           your
0.132"                                    0.26"          0.29"           0.08"    0.22"        0.27"




                         0.431"




                          Brand
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                          with uS
                               u
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conaGra FoodS
That’s right … we’re the face behind the brands you’ll
find in 96 percent of America’s households, the face
you’ll find on each of the 13 million packages of food
products we sell every day. You should know that,
even with 19 brands each ringing up more than $100
million in sales a year, we’re always looking for fresh
new faces because we’re passionate about building
brands. And there’s not a better place for you to build
your brand than right here, at ConAgra Foods.




                                                          3
Full oF opportunity
     want to make your mark
   and make a diFFerence, From
    your FirSt day on the joB?
      then thiS iS the place.
                                                             en·gage·ment {en'gājm- nt}
  If you look up “engagement” in the dictionary, you’ll      noun
  see our logo next to the definition. We’re not toe-       Occurs when employees are motivated
  dippers; we’re deep-divers.                               to help the organization succeed and
                                                            know what to do to make it successfu
                                                                                                 l:
  When our CMO, Joan Chow, was asked by an                  Employee engagement levels at ConAg
                                                                                                   ra
  industry-leading publication if “it’s just one big        Foods are 10% above the norm for hig
                                                                                                   h-
  party over there,” here’s what she said: “It’s not that   performing companies.
  it’s a party. It’s just the passion and commitment of
  the people here is just amazing. I see that across
  different functions, in the home office, in the field,
  in our plants – at all levels. People are so dedicated
  to making great food that families will love. It’s just
  so heartening to see.”




                                                                                                        5
the
 BiG
queStion:
  What’s in it for me?   The short answer:   The opportunity to think BIG.
                                             Read on to learn more.




                                                                             7
Section two




              We get better results
              because everything we
              do brings us closer to
              achieving our mission –

              one company. one Goal.
              makinG the Food you love.




                                          9
in fiscaL 2010, We:

reached




$12.7 billion

                      ( )
                                                     in net sales

                                       many are



                                    #1
              built our
     brands including:                                               Over the past two years, our scores in Cannondale
                                                                    Associates’ annual PowerRanking® have increased by
                                                                     nearly 28 percent, leading one survey respondent to write,
                                                                    “ConAgra has solid knowledge and a variety of insights
                                            or                       that have helped us. They are making a difference.”




  by driving share and
       volume growth.
                                    #2
                                   in their categories
                                                                                   wall Street haS
                                                                                   weiGhed in, too.
                                                                    “We continue to expect the company to drive double-
                                                                     digit earnings growth, further realize cost savings, deliver
             and Were recognized by our                              improving margins, and leverage its brand portfolio …
           cusTomers and indusTry experTs                            to deliver against expectations, even in a potentially
                                                                     more competitive price environment.” Ann Gurkin,
sysco® named our       Food Processing         Refrigerated &        Davenport & Company analyst, March 29, 2010.
  Lamb Weston         magazine’s readers’       Frozen Foods
 business its top       choice awards             magazine
  food supplier       named our conagra         named us its
                       mills business the      2009 processor
                      no.1 grain supplier        of the year
                       for the third year
                            in a row


                                                                                                                                    11
Section three




           Better	   		insights   Better	   		MArKetING




                                                          13
how
  when it comeS to inSiGhtS,
  we’re takinG the road leSS
 traveled By, and it’S makinG




                                                       much
      all the diFFerence.
Because we look at both consumer and shopper
behavior, we better understand the needs of our
customers, which enables us to take a more holistic




                                                      Better
approach to running our business. This, plus the
fact that we’ve really pumped in a lot of human
and dollar resources to put some scale behind this
approach is what makes us different – and better.




                                                         ?
                                                               15
brandWeeK             for two consecutive years,
                      our integrated customer




top top3
named conagra foods   marketing organization has




12 1
                      ranked in the
                                                               you miGht Say
                                                             we’re wired to win.




12
                                                    Our DNA’s a little different. Several Centers of
                                                    Excellence comprise Global Marketing and connect
                                                    with one another through an Integrated Marketing
                      of The Hub’s annual Top 12    process, which helps each team transfer its expertise
                      benchmark rating of shopper   across the organization. So, because 80 percent of
                      marketing excellence.         our Integrated Customer Marketing people reside
                                                    in market with their customer teams, they’re able
                                                    to teach everyone else about the realities of retail
                      in march, our shopper         execution. This business model has helped us
                      marketing team earned         speak their language, understand their processes
                      the company’s
marKeTer                      ST
                                                    and offer input into their decisions.


of THe year in                                      Insights also help us connect with our consumers




2009
                              EVER                  wherever they’re at – in store, online, in print, at the
                                                    movies, watching TV, at the ball game, in the airport
                                                    or on Twitter.™
                      david ogilvy award for
                      excellence in advertising     If your head’s spinning, don’t worry. You’ll fit right
due To our            research for its shopper
                      seasons work, which
                                                    into management rotation programs that give people


creaTiVe,
                                                    a taste of life in different parts of the organization.
                      breaks the year into six      It’s all part of making the food you love … better.
                      distinct “seasons” that
insigHTs-driVen and   shoppers – moms, in
resuLTs-producing     particular – associate with

marKeTing             different emotional and
                      practical needs.
                                                                                                               17
Section Four




Better innovation

Just because something’s not
broken doesn’t mean we aren’t
trying to fix it. ConAgra Foods is
always looking for new and better
ways to make the food you love.




                                     19
For example, we thought a lot of frozen foods had                                             in fiscaL 2009,
that, well, frozen food taste. So, we figured out a way                                        We became the first company in north
to translate the natural freshness of steam cooking                                            america to use post-consumer recycled
                                                                                               plastic in frozen meal trays, diverting
to a technology fit for the microwave and came up




                                                                                           8
with Healthy Choice® Café Steamers™. Over the
past two years, we’ve built on that platform and                                                          Million lbs
introduced Healthy Choice Fresh Mixers and Marie
Callender’s® Home-Style™ Creations. This summer,
                                                                                                          of Plastic
new Healthy Choice Lunch Steamers promise                                                                 from Landfills
fresh tastes and a new look for lunch, while Marie                                                        each Year
Callender’s debuts new twists on classic dinners for
                                                                           The equivalent of 128 million 20-ounce plastic bottles
two that consumers can pop in the microwave or
cook in the oven.


  our BreakthrouGhS Break
acroSS the orGanization, not
juSt in product development.
                                                                           Last year, Hunt’s® ketchup captured a Worldstar award
Everyone has SAP® horror stories. We did, too.                             – a big deal – from the World packaging organization for
                                                                           packaging that is both innovative and sustainable.
But then we pooled our talent and ideas, tapped
into world-class problem-solving resources and
ended up becoming the first SAP customer in
                                                           Wall street likes where we’re headed.
the Americas to achieve SAP Customer Center of
Expertise Advanced Certification.                         “Going forward, the company continues to innovate
                                                           strongly, particularly in the frozen segment, and is
We’re not afraid to think outside the box. In fact,        using its combination of new technologies … to drive
we encourage it. That’s why we’re recognized as a
                                                           the top line. These actions are clearly driving growth
leader in packaging.
                                                           in the company’s strongest brands.   ”
                                                           alexia Howard, bernstein research analyst, march 26, 2010
                                                                                                                                         21
and just this spring, our brand design group
picked up certificates of excellence from the
editors of Graphic Design USA for Lightlife® and
peter pan® packaging that communicated the
essence of each brand to consumers. Three of
our designers were added to Shopper Marketing
magazine’s “Who’s Who in packaging,” too.




                                                   23
Section Five




Better manaGement

Planning the work
and working the plan.
It’s a cliché, but who cares?

It works.




                                25
aT conagra foods, suppLy cHain producTiViTy + TigHT
We’ve compared our strengths with the potential of            oVerHead conTroL fueLs insigHTs-driVen marKeTing
our brands and businesses in light of our competitive           and seLLing + feWer, bigger, beTTer innoVaTions.
position and overall macroeconomic, industry and
category trends and come up with five strategic                                 over the past four fiscal years, our supply chain has
priorities. In other words, we put our money and                         introduced productivity improvements that have generated




                                                        $280M
                                                                                                an average annual savings of nearly
people where we stand the best chance of winning.
That means:

•   Leading in convenient meals
•   Expanding potatoes worldwide
•   Building a strong snacks platform
•   Leveraging meal enhancers
•   Optimizing specialty businesses                                That’s money we invest in innovation, advertising and marketing
                                                                          to grow our brands and build our customers’ businesses.
 theSe prioritieS drive our
                                                          over the past three years,     We invested more than
planninG proceSSeS and keep
 uS aliGned and connected.
                                                         the percentage of retailers
                                                                rating us among the     $105 million
                                                                                         in quality, food safety and infrastructure
But they’re only part oF our                                                             improvements in fiscal 2009, leveraging
    Formula For Growth.                                                                  the expertise of a food safety council and
                                                                                         a scientific advisory board composed of
Once again, Wall Street has taken note.                                                  national experts in their fields.

“We agreed with the company’s strategy and think
that the new management team is a first-class                                            at our place, safety comes first. our total
                                                                                         incident rate – a metric manufacturers
group, assembled from among the best consumer                  manufacturers in the
                                                                                         use to track on-the-job injuries – has
packaged goods companies … Furthermore, we                   cannondale associates
                                                                                         fallen to less than half of
believe management’s restructuring efforts aimed             powerranking for best
                                                                                         the industry average.
at reducing the complexity of the company and            supply chain management
                                                        has nearly tripled. “conagra
                                                                            “
improving its efficiency are well placed.”
                                                        has stepped up the game in
                                                        supply chain – they are top-
David Driscoll, Citigroup Analyst, Feb. 16, 2010           ranked in most aspects,”
                                                              wrote one respondent.
                                                                                                                                        27
Section Six




                                                                               A better wAy
                                                                                         A
                                                                                         Ay




                                                                                                                        x

     At ConAgra Foods, finding a better way is something        team everywhere. You may run into them in meetings,
     everyone’s accountable for and something our senior        in the halls or in the fitness centers, and, yes, you can
     leadership team models. You’ll see our senior leadership   actually talk to them. What’s more, they’ll listen.
                                                                                                                            29
our unique leadership       Think leadership
                           training programs      training isn’t for you?
                        have been nationally      Think again. Last year,
                           recognized with a      more than



                                                25%
                   corporate university best
                              in class award
                      and a Vanguard award
                                                                                 Given thiS inFormation,

                                                42%
                       (from chief Learning
                           officer magazine).                                  you miGht aSSume that our
                                                                              employeeS are motivated and


                                                50%
   if you want to learn stuff, come here. our
   conagra Learning exchange offers online                                     enGaGed – and you’d Be riGht.
                       learning opportunities
                                                                             Studies conducted by management consulting
     24/7/365                                       f
                                                  of our job openings were
                                                                             firm Watson Wyatt show that, when employees
                                                                             are engaged, they’re more likely to go the extra
    We’ve identified competencies required        filled from within our
       enterprisewide that you can use as a       own ranks. and more        mile to help the organization succeed and use
 foundation for career planning and that we       than 750 people were       their discretionary effort to help the business win.
 can use to develop our people and manage         promoted from within.      Employee engagement levels reached 82 percent at
                                 our talent.                                 ConAgra Foods in the 2009 Watson Wyatt study, a
                                                                             seven-point increase over 2008, which puts us 10
       some people think conagra foods is a great place to start
      a career. This year, Bloomberg Business Report named us a              percentage points above the norm established by
                                                                             high-performing companies.

         “Best Company                                                       But as engaged as we are in making the food people


        for InternshIps”
                                                                             love, we’re also deeply involved in the communities
                                                                             in which we live and work.

                                for 2009.



Six
             employee resource networks reflect the diversity
             and inclusiveness of our workplace and offer unique
             opportunities for professional development, mentoring and
providing input on product innovation and business processes.

                                                                                                                                    31
Corporate Responsibility Magazine named ConAgra
Foods to its 11th Annual Best Corporate Citizens
List, recognized as one of the world’s top corporate
responsibility rankings.

Our aggressive new sustainability goals will give you
five more reasons to feel good about the food you love
by achieving specific environmental metrics aimed
at reducing greenhouse gas emissions, conserving
water, cutting waste, reducing packaging and making
the most of natural resources – all by 2015.


        we’ve alSo pledGed
      to reduce Salt acroSS
      our portFolio oF Food
     productS By 20 percent
             By 2015.
Our partnership with Feeding America, the nation’s
leading hunger-relief organization, is the largest
corporate initiative in the U.S. solely dedicated to
fighting child hunger. Over the past 15 years, we’ve
donated more than 230 million pounds of food and
invested more than $30 million as the first company
to fund child hunger programs nationwide in a
comprehensive manner. Now, an integrated cause
marketing campaign is enlisting consumers to join
seven of our largest brands to ensure that Child
Hunger Ends Here. Child hunger is an issue about
which consumers care deeply, and our campaign
connects them to the cause and to our brands.
                                                         33
join uS
on our
path to
SucceSS
Now you know how our brand can help
you build your brand. Learn more at
conagrafoods.careers.com, including
which positions are open right now.

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ConAgra Opportunities

  • 1. opportu l l oF nit Fu y
  • 2. 0.50" 0.50" Section one 1.512" 42pt trade Gothic Bold By helpinG uS Build our BrandS Build 0.431" your 0.132" 0.26" 0.29" 0.08" 0.22" 0.27" 0.431" Brand 0.132" 0.33" 0.28" 0.29" 0.29" 0.431" with uS u 0.132" 0.26" 0.29" 0.32" 0.29" 0.27" 0.431" 0.47" 0.08" 0.28" 0.29" 0.28" 0.29" 0.12" 2.656" 0.50" 4.00" 1 0.50"
  • 3. conaGra FoodS That’s right … we’re the face behind the brands you’ll find in 96 percent of America’s households, the face you’ll find on each of the 13 million packages of food products we sell every day. You should know that, even with 19 brands each ringing up more than $100 million in sales a year, we’re always looking for fresh new faces because we’re passionate about building brands. And there’s not a better place for you to build your brand than right here, at ConAgra Foods. 3
  • 4. Full oF opportunity want to make your mark and make a diFFerence, From your FirSt day on the joB? then thiS iS the place. en·gage·ment {en'gājm- nt} If you look up “engagement” in the dictionary, you’ll noun see our logo next to the definition. We’re not toe- Occurs when employees are motivated dippers; we’re deep-divers. to help the organization succeed and know what to do to make it successfu l: When our CMO, Joan Chow, was asked by an Employee engagement levels at ConAg ra industry-leading publication if “it’s just one big Foods are 10% above the norm for hig h- party over there,” here’s what she said: “It’s not that performing companies. it’s a party. It’s just the passion and commitment of the people here is just amazing. I see that across different functions, in the home office, in the field, in our plants – at all levels. People are so dedicated to making great food that families will love. It’s just so heartening to see.” 5
  • 5. the BiG queStion: What’s in it for me? The short answer: The opportunity to think BIG. Read on to learn more. 7
  • 6. Section two We get better results because everything we do brings us closer to achieving our mission – one company. one Goal. makinG the Food you love. 9
  • 7. in fiscaL 2010, We: reached $12.7 billion ( ) in net sales many are #1 built our brands including: Over the past two years, our scores in Cannondale Associates’ annual PowerRanking® have increased by nearly 28 percent, leading one survey respondent to write, “ConAgra has solid knowledge and a variety of insights or that have helped us. They are making a difference.” by driving share and volume growth. #2 in their categories wall Street haS weiGhed in, too. “We continue to expect the company to drive double- digit earnings growth, further realize cost savings, deliver and Were recognized by our improving margins, and leverage its brand portfolio … cusTomers and indusTry experTs to deliver against expectations, even in a potentially more competitive price environment.” Ann Gurkin, sysco® named our Food Processing Refrigerated & Davenport & Company analyst, March 29, 2010. Lamb Weston magazine’s readers’ Frozen Foods business its top choice awards magazine food supplier named our conagra named us its mills business the 2009 processor no.1 grain supplier of the year for the third year in a row 11
  • 8. Section three Better insights Better MArKetING 13
  • 9. how when it comeS to inSiGhtS, we’re takinG the road leSS traveled By, and it’S makinG much all the diFFerence. Because we look at both consumer and shopper behavior, we better understand the needs of our customers, which enables us to take a more holistic Better approach to running our business. This, plus the fact that we’ve really pumped in a lot of human and dollar resources to put some scale behind this approach is what makes us different – and better. ? 15
  • 10. brandWeeK for two consecutive years, our integrated customer top top3 named conagra foods marketing organization has 12 1 ranked in the you miGht Say we’re wired to win. 12 Our DNA’s a little different. Several Centers of Excellence comprise Global Marketing and connect with one another through an Integrated Marketing of The Hub’s annual Top 12 process, which helps each team transfer its expertise benchmark rating of shopper across the organization. So, because 80 percent of marketing excellence. our Integrated Customer Marketing people reside in market with their customer teams, they’re able to teach everyone else about the realities of retail in march, our shopper execution. This business model has helped us marketing team earned speak their language, understand their processes the company’s marKeTer ST and offer input into their decisions. of THe year in Insights also help us connect with our consumers 2009 EVER wherever they’re at – in store, online, in print, at the movies, watching TV, at the ball game, in the airport or on Twitter.™ david ogilvy award for excellence in advertising If your head’s spinning, don’t worry. You’ll fit right due To our research for its shopper seasons work, which into management rotation programs that give people creaTiVe, a taste of life in different parts of the organization. breaks the year into six It’s all part of making the food you love … better. distinct “seasons” that insigHTs-driVen and shoppers – moms, in resuLTs-producing particular – associate with marKeTing different emotional and practical needs. 17
  • 11. Section Four Better innovation Just because something’s not broken doesn’t mean we aren’t trying to fix it. ConAgra Foods is always looking for new and better ways to make the food you love. 19
  • 12. For example, we thought a lot of frozen foods had in fiscaL 2009, that, well, frozen food taste. So, we figured out a way We became the first company in north to translate the natural freshness of steam cooking america to use post-consumer recycled plastic in frozen meal trays, diverting to a technology fit for the microwave and came up 8 with Healthy Choice® Café Steamers™. Over the past two years, we’ve built on that platform and Million lbs introduced Healthy Choice Fresh Mixers and Marie Callender’s® Home-Style™ Creations. This summer, of Plastic new Healthy Choice Lunch Steamers promise from Landfills fresh tastes and a new look for lunch, while Marie each Year Callender’s debuts new twists on classic dinners for The equivalent of 128 million 20-ounce plastic bottles two that consumers can pop in the microwave or cook in the oven. our BreakthrouGhS Break acroSS the orGanization, not juSt in product development. Last year, Hunt’s® ketchup captured a Worldstar award Everyone has SAP® horror stories. We did, too. – a big deal – from the World packaging organization for packaging that is both innovative and sustainable. But then we pooled our talent and ideas, tapped into world-class problem-solving resources and ended up becoming the first SAP customer in Wall street likes where we’re headed. the Americas to achieve SAP Customer Center of Expertise Advanced Certification. “Going forward, the company continues to innovate strongly, particularly in the frozen segment, and is We’re not afraid to think outside the box. In fact, using its combination of new technologies … to drive we encourage it. That’s why we’re recognized as a the top line. These actions are clearly driving growth leader in packaging. in the company’s strongest brands. ” alexia Howard, bernstein research analyst, march 26, 2010 21
  • 13. and just this spring, our brand design group picked up certificates of excellence from the editors of Graphic Design USA for Lightlife® and peter pan® packaging that communicated the essence of each brand to consumers. Three of our designers were added to Shopper Marketing magazine’s “Who’s Who in packaging,” too. 23
  • 14. Section Five Better manaGement Planning the work and working the plan. It’s a cliché, but who cares? It works. 25
  • 15. aT conagra foods, suppLy cHain producTiViTy + TigHT We’ve compared our strengths with the potential of oVerHead conTroL fueLs insigHTs-driVen marKeTing our brands and businesses in light of our competitive and seLLing + feWer, bigger, beTTer innoVaTions. position and overall macroeconomic, industry and category trends and come up with five strategic over the past four fiscal years, our supply chain has priorities. In other words, we put our money and introduced productivity improvements that have generated $280M an average annual savings of nearly people where we stand the best chance of winning. That means: • Leading in convenient meals • Expanding potatoes worldwide • Building a strong snacks platform • Leveraging meal enhancers • Optimizing specialty businesses That’s money we invest in innovation, advertising and marketing to grow our brands and build our customers’ businesses. theSe prioritieS drive our over the past three years, We invested more than planninG proceSSeS and keep uS aliGned and connected. the percentage of retailers rating us among the $105 million in quality, food safety and infrastructure But they’re only part oF our improvements in fiscal 2009, leveraging Formula For Growth. the expertise of a food safety council and a scientific advisory board composed of Once again, Wall Street has taken note. national experts in their fields. “We agreed with the company’s strategy and think that the new management team is a first-class at our place, safety comes first. our total incident rate – a metric manufacturers group, assembled from among the best consumer manufacturers in the use to track on-the-job injuries – has packaged goods companies … Furthermore, we cannondale associates fallen to less than half of believe management’s restructuring efforts aimed powerranking for best the industry average. at reducing the complexity of the company and supply chain management has nearly tripled. “conagra “ improving its efficiency are well placed.” has stepped up the game in supply chain – they are top- David Driscoll, Citigroup Analyst, Feb. 16, 2010 ranked in most aspects,” wrote one respondent. 27
  • 16. Section Six A better wAy A Ay x At ConAgra Foods, finding a better way is something team everywhere. You may run into them in meetings, everyone’s accountable for and something our senior in the halls or in the fitness centers, and, yes, you can leadership team models. You’ll see our senior leadership actually talk to them. What’s more, they’ll listen. 29
  • 17. our unique leadership Think leadership training programs training isn’t for you? have been nationally Think again. Last year, recognized with a more than 25% corporate university best in class award and a Vanguard award Given thiS inFormation, 42% (from chief Learning officer magazine). you miGht aSSume that our employeeS are motivated and 50% if you want to learn stuff, come here. our conagra Learning exchange offers online enGaGed – and you’d Be riGht. learning opportunities Studies conducted by management consulting 24/7/365 f of our job openings were firm Watson Wyatt show that, when employees are engaged, they’re more likely to go the extra We’ve identified competencies required filled from within our enterprisewide that you can use as a own ranks. and more mile to help the organization succeed and use foundation for career planning and that we than 750 people were their discretionary effort to help the business win. can use to develop our people and manage promoted from within. Employee engagement levels reached 82 percent at our talent. ConAgra Foods in the 2009 Watson Wyatt study, a seven-point increase over 2008, which puts us 10 some people think conagra foods is a great place to start a career. This year, Bloomberg Business Report named us a percentage points above the norm established by high-performing companies. “Best Company But as engaged as we are in making the food people for InternshIps” love, we’re also deeply involved in the communities in which we live and work. for 2009. Six employee resource networks reflect the diversity and inclusiveness of our workplace and offer unique opportunities for professional development, mentoring and providing input on product innovation and business processes. 31
  • 18. Corporate Responsibility Magazine named ConAgra Foods to its 11th Annual Best Corporate Citizens List, recognized as one of the world’s top corporate responsibility rankings. Our aggressive new sustainability goals will give you five more reasons to feel good about the food you love by achieving specific environmental metrics aimed at reducing greenhouse gas emissions, conserving water, cutting waste, reducing packaging and making the most of natural resources – all by 2015. we’ve alSo pledGed to reduce Salt acroSS our portFolio oF Food productS By 20 percent By 2015. Our partnership with Feeding America, the nation’s leading hunger-relief organization, is the largest corporate initiative in the U.S. solely dedicated to fighting child hunger. Over the past 15 years, we’ve donated more than 230 million pounds of food and invested more than $30 million as the first company to fund child hunger programs nationwide in a comprehensive manner. Now, an integrated cause marketing campaign is enlisting consumers to join seven of our largest brands to ensure that Child Hunger Ends Here. Child hunger is an issue about which consumers care deeply, and our campaign connects them to the cause and to our brands. 33
  • 19. join uS on our path to SucceSS Now you know how our brand can help you build your brand. Learn more at conagrafoods.careers.com, including which positions are open right now.