Mission Statement, Vision, & Core Values (2024) of Better Choice Company Inc. (BTTR)

An Overview of Better Choice Company Inc. (BTTR)

General Summary of Better Choice Company Inc.

Better Choice Company Inc. (BTTR) was established in 2017 and is primarily focused on providing innovative and high-quality pet products, particularly within the health and wellness segment. The company's product line includes premium pet foods, treats, supplements, and accessories that cater to the dietary needs of pets. As of 2024, Better Choice Company has reported annual sales of approximately $150 million.

Company's Financial Performance in the Latest Financial Reports

In the most recent financial report released for the fiscal year 2023, Better Choice Company achieved record-breaking revenues of $150 million, representing a significant year-over-year growth of 40%. The main product sales, particularly in the premium pet food category, accounted for approximately 65% of total revenue. The table below summarizes the financial performance for the latest fiscal year:

Introduction to Better Choice Company as a Leader in the Industry

Better Choice Company Inc. has positioned itself as one of the leading companies in the pet health and wellness industry, leveraging its strong brand reputation, innovative product offerings, and a commitment to quality. With a growing consumer base and expanding market presence, the company has set itself apart through its focus on sustainability and ethical sourcing of ingredients. As of 2024, the company holds a market share of approximately 12%, ranking among the top pet food brands in the United States. For those interested in exploring the strategies and values that have contributed to Better Choice Company's success, additional details can be found in the sections below.

Mission Statement of Better Choice Company Inc. (BTTR)

Mission Statement Overview

The mission statement of Better Choice Company Inc. (BTTR) serves as a vital compass for the organization, guiding its strategic decisions and actions. Established to prioritize high-quality products and consumer satisfaction, the mission statement reflects the company's commitment to excellence, innovation, and ethical practices.

Core Component 1: Quality Products

BTTR's mission emphasizes delivering high-quality products that meet the needs and expectations of consumers. This focus is supported by recent industry statistics showcasing consumer preferences:

• According to a 2022 survey by Statista, 90% of consumers consider product quality as the most important factor when purchasing.
• A report by Nielsen states that products marketed as premium saw a growth rate of 9% compared to standard products in 2023.

The commitment to quality is further substantiated by BTTR's rigorous quality assurance processes, which include:

• Annual audits of manufacturing facilities.
• Regular product testing to ensure compliance with safety standards.

Core Component 2: Customer Satisfaction

Customer satisfaction is integral to BTTR’s mission. The company actively seeks to enhance customer experiences through various initiatives:

• BTTR achieved a customer satisfaction score of 85% in the 2023 American Customer Satisfaction Index.
• Implementation of a 24/7 customer support line, which has resulted in a 25% increase in positive feedback within the past year.

To track customer satisfaction, BTTR utilizes Net Promoter Score (NPS) metrics:

This demonstrates an upward trajectory in customer loyalty and satisfaction, reflecting the company’s effectiveness in meeting consumer needs.

Core Component 3: Ethical Practices

BTTR's dedication to ethical practices is a cornerstone of its mission statement, underscoring the importance of sustainability and responsible sourcing:

• In 2023, BTTR sourced 100% of its ingredients from sustainable suppliers.
• The company has implemented a zero-waste policy in its manufacturing processes, reducing waste by 30% since 2022.

BTTR also engages in community initiatives, contributing $1 million annually to local charities and sustainability projects. The impact of these practices is evident:

• According to a 2023 survey by Deloitte, 60% of consumers are more likely to purchase from companies committed to sustainability.
• BTTR's brand value increased by 15% in part due to its ethical commitments.

Vision Statement of Better Choice Company Inc. (BTTR)

Vision Statement Overview

The vision statement of Better Choice Company Inc. (BTTR) establishes a framework for its future aspirations and direction as of 2024. Emphasizing innovation and sustainability, the vision reflects the company's commitment to being a leader in the pet health and wellness industry.

Future Market Leadership

BTTR aims to be recognized as a top player in the global pet care market, projected to reach $350 billion by 2027. The company's goal is to capture a 5% market share by 2024, translating to approximately $17.5 billion in revenue.

Commitment to Sustainability

In alignment with its vision, BTTR has committed to reducing its carbon footprint by 30% by 2025. The company aims to achieve this by implementing eco-friendly packaging and sourcing materials sustainably.

Innovation in Product Development

BTTR plans to invest $10 million annually in research and development to innovate new products that cater to evolving consumer needs. The focus will be on natural ingredients, with an anticipated growth of 200% in the natural pet food market segment by 2026.

Enhancing Customer Experience

BTTR's vision includes providing superior customer service, aiming for a 90% customer satisfaction rate by 2024. This will be achieved through enhanced digital platforms and personalized services.

Community Engagement and Social Responsibility

BTTR is focused on strengthening community ties, with plans to allocate $2 million to local pet rescue organizations by 2024. The goal is to assist with adoption programs and promote responsible pet ownership.

• Partnerships with local shelters.
• Implementation of educational programs.
• Organizing community events focused on pet health and wellness.

Core Values of Better Choice Company Inc. (BTTR)

Integrity

The value of integrity is paramount at Better Choice Company Inc. (BTTR). It means maintaining transparency and honesty in all operations, both internally and externally.

BTTR has demonstrated its commitment to integrity through the following initiatives:

• Implemented a whistleblower policy that encourages employees to report unethical behavior without fear of retaliation.
• Conducted annual ethics training for all employees, with 100% participation in 2023.
• Published an annual sustainability report disclosing environmental impact metrics, such as a 30% reduction in carbon emissions since 2021.

Innovation

Innovation is a core value that drives BTTR's growth and success. It encourages the employees to push boundaries and think creatively.

Examples of BTTR's innovation commitment include:

• Invested $2.5 million in R&D in 2023 to develop new products that meet changing consumer needs.
• Launched a new product line of plant-based snacks in Q2 2023, contributing to a 15% increase in quarterly sales.
• Implemented cutting-edge technology in supply chain management, resulting in a 20% reduction in delivery times.

Community Engagement

Community engagement reflects BTTR's commitment to social responsibility and giving back to society.

BTTR has initiated several programs to support this core value:

• Donated $500,000 to local food banks in 2023.
• Organized 12 community clean-up events in 2023, with over 2,000 employee volunteer hours logged.
• Established a scholarship program for underprivileged students, awarding $250,000 in scholarships in the past year.

Quality

Quality is central to BTTR's business philosophy, ensuring that products consistently meet high standards.

Commitments to this value include:

• Achieved a 98% customer satisfaction rate in 2023, with a focus on product excellence.
• Passed all FDA inspections without violations for three consecutive years.
• Invested $1 million in quality control systems to improve product testing and safety standards.

Sustainability

Sustainability is a key value that guides BTTR's operations towards a more eco-friendly future.

BTTR demonstrates its commitment through:

• Reduction of single-use plastics in packaging by 40% in 2023.
• Achieving a 25% increase in energy efficiency across production facilities since 2022.
• Partnering with environmental organizations, contributing $150,000 to conservation efforts in the past year.

BTTR's enduring commitment to its core values reinforces its position as a leader in the industry, underlining the importance of these principles in shaping a responsible and innovative business environment.