Lorillard Financial Performance Assignment Example | Topics and Well Written Essays - 1750 words

Lorillard Financial Performance - Assignment Example This article will focus on the 2011 annual report, by giving a review and analysis of the review according to the stated guidelines. Mission Lorillard’s mission is to supply their clients with the best quality menthol cigarettes (Lorillard, 2009). This is achieved by building capabilities and strong processes that support the strategized vision. This is also guaranteed from the commitment and passion portrayed by the employees and the general board members of Lorillard (Lorillard, 2009). The company also ensures that their staff members are able to provide the highest level of excellence through implementation of new strategic plans aimed at boosting the company’s sales. Lorillard Inc. also ensures that they maintain their retail market share through making more sales internationally, hence; marketing its brands (Lorillard Inc., 2011). Vision Lorillard has a vision of becoming the world’s leading company in the manufacture of cigarettes (Lorillard Inc., 2011). Th is can be portrayed from the continuously rising net sales, operating income and earnings per share. They also look into executing their core strategies and outperforming the underlying industry trends. Furthermore, their vision also entails the effortless geographic expansion of existing goods and the launching of new products that promote the company’s net sales. ... ities that support their strategic vision, protecting and growing their own menthol cigarette business and carefully pursuing close-in adjacencies (Lorillard Inc., 2011). All the three strategic efforts are aimed in achieving the vision of Lorillard Company. In addition, this helps them to ensure responsible Newport pleasure to all the adult smokers. These outstanding visions have enabled the company to maintain growth in the retail market. The Newport cigarette brand employs the strategy of protecting and growing the menthol cigarette business. Lorillard evidently challenged some of the unwarranted regulations and defended the brand’s freedom in actively operating in debates with the U.S. Food and Drug Administration (FDA) to respect their selflessness of menthol cigarettes. Lorillard also markets the Newport brand in Washington DC. Through expansion of merchandised programs, Lorillard was able to grow vastly with its main target being the adult smokers of Newport (Lorillard, 2009). Furthermore, Lorillard was able to achieve a record annual share and eliminated distraction after signing of a four-year labor contract with the union associates. An analysis from 2008 shows the brand’s growth from a mere 9.7% to 11.9% (Lorillard Inc., 2011). In pursuing close-in cigarette adjacencies, the Newport non menthol brand is brought into focus. It is evident that most of the efforts that the Lorillard Inc. focused on entailed expansion of the Newport brand. This is because the Newport brand makes up to 70 percent of the cigarette industry. According to the first year of Newport’s performance, the non menthol product performed extremely well. Nowadays, Lorillard offers the best menthol products in eight states, in the West. Moreover, they also make considerable profits from