Partnering with Chinese Firms by Yadong Lou

Author:Yadong Lou [Lou, Yadong]
Language: eng
Format: epub
ISBN: 9781138711143
Google: UqtozgEACAAJ
Publisher: Taylor & Francis Group
Published: 2021-06-13T03:48:31+00:00

Corporate History

PepsiCo, Inc., is one of the most successful consumer products companies in the world, with annual revenues of over $20 billion and about 140,000 employees. Even though some of PepsiCo's brand names are almost 100 years of age, the corporation itself is relatively young. It was founded in 1965 by Donald M. Kendall, president and CEO of Pepsi-Cola, and Herman W. Lay, chairman and CEO of Frito-Lay, through the merger of the two companies. PepsiCo's aggressiveness was immediately apparent when it entered Japan and Eastern Europe the year after the merger. By 1969, it introduced its signature red, white, and blue packaging. In 1976, the company became the single largest selling soft drink brand sold in U.S. supermarkets.

PepsiCo started out with a commitment to research and development, opening its Research and Technical Center in Valhalla, NY in 1979. PepsiCo is also recognized as one of the most advanced companies in the areas of employee health and fitness, as shown by the opening of the PepsiCo Fitness Center in 1981. The same year, PepsiCo and China reached an agreement to manufacture soft drinks. In 1986, PepsiCo's Board of Directors visited China to mark the opening of its second bottling plant in China. In 1994, China got cheese-leSs Cheetos, the first time a major snack food brand has been developed by a foreign company to meet Chinese tastes.

In 1989, PepsiCo introduced the SharePower Stock Option program, becoming the first large corporation to award stock options to virtually all full time employees. In 1992, Pepsi-Cola implemented the Right Side Up philosophy, where the consumer and front line employees are at the top of the organization. In 1996, Pepsi-Cola launched its first website, called Pepsi World.

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