The letter to the shareholders from Douglas N. Daft, Chairman, Board of Directors, and Chief Executive Officer of General Mills is provided on the text’s Web site and on the student CD that accompanies this text. This letter appeared in the company’s 2001 annual report.
Read Chairman Daft’s letter and comment on the following:
A. Which segments of the market represent the largest growth for General Mills?
B. Comment on the level of detail contained in the letter. For example, are the bulleted points shown on the last page of the letter detailed, or general in nature?
C. The second paragraph of the chairman’s letter makes reference to the nature of the competitive environment. What is the tone of the second paragraph? What is Chairman Daft telling the reader?