Chocolate Fortunes, Chapter 4: Hershey, Back to Basics

Chapter 4 explores the 100-year history of Hershey and how the companyAÆs collective experience and culture affected their China market entry strategy. HersheyAÆs cautious, measured and flexible approach toward its China business is shown to pay dividends in the form of early success in the market. Attending to the basics of the chocolate business, disciplined leadership, pragmatic and opportunistic approaches toward the market, and its consumer-focused strategy are explored in depth as the pillars of its early success. However, their lack of experience in and commitment to international markets caught up with them and reversed these successes when the companyAÆs China subsidiary became mired in leadership and governance issues.