Phillip Morris Part II

Phillip Morris International as discussed in part one of this paper series is "the leading international tobacco company with products sold in over 180 countries" (Phillip Morris International. About Us. 2011). The organization concerns itself with a dual track philosophy "provide high quality and innovative products to adult smokers, and reduce the harm caused by tobacco products" (Phillip Morris International. Company Overview. 2011). While in many ways there is a certain cognitive dissonance to this corporate mission; the firm has been successful in generating quality outcomes for their shareholders with "total shareholder return (TSR) for the year 2010 a strong 27.2%, well ahead of their peer group (up by 8.7%) and the S&P 500 (up by 15.0%)" (Phillip Morris International Annual Report. 2011.). The company's success stems from their ability to generate consistent operating cash flow which is used for a variety of purposes including: logistics,...
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