The tootsie roll industries communicate its values to its employees with a top down structure by encouraging accessibility and team work as keys to successful communication. They are invited to meetings to learn more about different departments along with their own. They can either sit in the meeting listening to what is going on and they can also share their input on a situation. The TRI management encourages an open organization so that employees can confront and resolve conflicts. TRI always negotiates with its employees and suppliers to try and make sure that both sides can come to an agreement and be satisfied with the end result.
2. What communication techniques demonstrate the company’s flexibility? The use of formal bargaining is very helpful when dealing with the union to discuss a new contract and other situation that the company sees coming. The use of informal bargaining is very important for when situation suddenly come up and need to resolve such as when a problem arises with an employee and management. TRI flexibility also shows when dealing with different suppliers in negotiation of prices and supplies.
The use of cooperative strategies helps to show that TRI is flexible and try to understand the positions of the other party so that there is a mutual gain between both parties. 3. How do cross-functional teams benefit Tootsie Roll Industries? Tootsie Roll industries cross trains its workers to learn different aspects of the business and to widen their minds to come up with creative solutions to business problems. Cross training also helps to increase team member’s sensitivity to the implications a proposed action might have on other business functions.
The Business plan on Tootsie Roll Industries Inc. Loan Package
Tootsie Roll Industries Inc. and its branches makes and sells candy including “Andes mints, Junior Mints, Charleston Chew, Mason Dots, Sugar Daddy, and the ever popular Tootsie Roll, which has been made from the same formula for over a 100 years” (Hoovers Academics, 2012) Tootsie Roll Industry’s customers include a wide variety of supermarkets, dollar stores, discount warehouse clubs, fund-raising ...
With employees crossed trained they can come together and solve problems that occur suddenly and not wait for management. Cross functional employees can enjoy their work more and feel more appreciated about what they do. They also gain a broader knowledge of the process that goes into making the candy from different point of views. 4. Why are effective negotiating skills vital to TRI’s expansion? Effective negotiating skills are vital to Tootsie Roll Industries expansion because they have proven essential to the growth of the company.
TRI has expanded its sales not only by expanding its own product line, but also by gaining established candy companies such as Warner-Lambert Company, Mason Division of Candy Corporation of America and Concord Confections of Toronto. With these newly gained companies TRI was able to stay ahead of the game and continue to grow and prosper throughout the years. Without planned and structured process of communication the TRI negotiations for the other companies would have fallen short and they may have never acquired them. 5. Why does Tootsie Roll Industries discuss the benefits and problems entailed by the deal during acquisition negotiations?
Tootsie Roll Industries does this so that all parties are on the same page and knows what are the positives and negatives of this deal. They don’t want to hide any details from the other party and they want to be strait forward with them. TRI uses concessions to their advantage when bargaining with other companies. By giving the other party something they in return get information they wanted and this shows cooperation between both parties. They also use a cooperative strategy to be honest with the other party. They show mutual gains for both parties and try to achieve a win-win situation so that both parties are satisfied with the deal.
