Strategic Management Coca-Cola essay

StrategicManagement Coca-Cola

Executivesummary

Thecoca cola company is an international corporation that sells around1.8 billion servings of its products across the globe on a dailybasis. The success of this company is mainly due to efficient marketstrategies complemented by a competent supply chain system thatassures excellence growth and operation of the company. Although thestatistics seem to suggest coca cola is in a monopoly market, it isnot the case. The corporation faces stiff competition from beverageproducers such as Dr. Pepper Snapple group and Pepsi yet it stillmanages to stay up regarding production and sales [CITATION Jim l 1033 ].

Thesuccess of coca cola is down to a well-strategized marketingstructure encompassed with big goals, missions, visions as well asvalues. Since the onset of the company, their strategy has been toset achievable targets and strive to attain them. The collaborationof all these items has made coca cola the lead company regarding ofbeverage productions and sales. The organization is a global brand.Engaging in a competitive strategy that ensures production of avariety of products including energy drinks, soft drinks and watergives them a competitive advantage.

Strategicmanagement entails formulation and implementation of core goals andobjectives initiated by top management. It involves taking account ofavailable resources, assessing internal and external environmentsaffecting the company and then formulating the initiatives. Coca-Colabeing a major producer of beverage products initiates effectivestrategies so as to broaden their markets. Apart from widening themarkets, the company ensures it maintains its status as the leadingproducer of beverage products. The company is quite flexible alwaysaltering its operations to suit a particular market. In other words,different countries have varying preferences. In that regard, thecoca cola has to adjust itself to meet specific needs of a givenmarket.

Thepaper will look to analyze the company based on its goals, missionstatement, vision, and values. For a company to dominate the beveragemarket like coca cola, it ought to have strong aspects. The paperwill give an in-depth analysis of the company to show why it is sucha success. Apart from analyzing all these aspects, the paper willoutline some recommendations that could improve the sales in some ofthe countries. The company is a global brand with sales across manycountries. Outlining why it has such dominance will be a majorundertaking within this paper.

MissionStatement and Analysis

Thecompany’s mission entails refreshing the globe in mind, body andspirit. Inspiring moments of optimism and happiness through theirbrands and activities is a mission Coca-Cola wants to achieve. Thecompany’s existence is encompassed in the ideologies above. Theirproducts are meant to refresh its customers and create in them alively spirit. In addition to that, consumers have to feel inspiredand happy while enjoying the company’s products. In line with itsmission, the company cuts across numerous countries in Africa,Pacific, European Union, North America regions and Asia. All acrossthese countries, coca cola, freshens up its consumers with a varietyof products [ CITATION Coc16 l 1033 ].

Thesuccess of a company mainly depends on customer relations. A companymust satisfy its consumers to ensure enormous growth. For thatreason, any company must embark on a mission to suits both theconsumers as well as the corporation. Coca-Cola does this perfectlywell. Just by viewing their mission, it is obvious to realize theirtargets. Having a strong mission does not guarantee substantialgrowth. Instead, a company must work in-line with its mission toensure adequate development. By the corporation’s mission,partnering with suppliers as well as independent bottlers acrossdifferent countries is quite common. In other words, it is the besttechnique utilized in commercializing new products and new packagingportfolios.

Coca-Colaexists because of its consumers i.e. the customers are responsiblefor its enormous growth. By keeping this in mind, refreshing theglobe in mind, body and spirit have become mandatory for theorganization. By inspiring and making people happy, Coca-Colarightfully benefits its consumers and the general population.

Company’sVision and Analysis

Visionshould focus on the possible inherent in the organization’s futureor what they intend to be. In other words, it entails making thefuture a reality. Vision should incorporate current and futureaspects of the market to be successful. The Coca-Cola Company has thevision to be the undisputed leader in beverage productions and salesin every country it operates in. The company wants to be a leader inall aspects involving beverages. To be a leading provider across theglobe, companies must embrace flexibility. It should be flexible soas to accommodate the varying cultures across different countries.For instance, western countries have different tastes as compared toAsian or African countries. In that regard, a company has to adjustaccordingly to tap enough customers. According to Coca-Cola’svision, being a world leader demands flexibility. Coca-Cola adjustswell enough in different countries to attract more consumers [ CITATION Coc16 l 1033 ].

Avisionary company is evidenced by the number of sales it makes overthe years. The fact that coca cola serves over 1.8 billion servingsof products on a daily basis across the globe shows its visionaryaspects. Since its inception, the company visualized itself as aleading producer of beverages across the world. On that basis, itstrived to attain the current status. Looking at the history of thecompany, it is clear that it started from a humble background. Owingto its visionary abilities, the company is now a leading brand.

Company’svalues and analysis

Valuesare quite essential for the success of business. As a matter of fact,values are among the first requirements a company formulates toensure the smooth running of the corporation. Coca-Cola is governedby stringent values that ensure fair treatment of consumers as wellas workers. The values motivate, energize and inspire the company toattain its set goals and objectives. The company’s values include

  1. Authenticity

  2. Excellence

  3. Learning

  4. Caring for the people

Authenticityentails acting with integrity. People do what is right and not justbecause it is easy. In that regard, the integrity levels are quitehigh thereby satisfying the employees and customers. Integrity issuesare responsible for the fall of a company. Integrity issues mayinclude corruption, dishonesty, and fewer quality products amongothers. Coca-Cola champions integrity in their daily endeavors.Excellence in this respect involves striving to amaze with speed andpassion. In other words, the organization strives to satisfy itscustomers in the best way possible. Attaining customer satisfactionexemplifies excellence. Another value that suits coca cola islearning. The company has the propensity of learning or rathercuriosity to learn. They have the ability to listen to customerdemands or preferences and act on them appropriately. Giving theconsumers your ears is a tactic that shows togetherness. Finally, thecompany tends to care for its people. It is vital for a successfulcompany to look after its people. Caring entails investing andempowering people in the best way possible. One of the means of doingso is engaging in charity works, conducting workshops to inspireupcoming entrepreneurs among others. Coca-Cola is well known for itsefforts to engage people in different ways [ CITATION Coc16 l 1033 ].

Alignmentof Company’s Mission, Vision, Values and Goals with stakeholders’interests

Stakeholdersare an important figure when it comes to the running of any company.Sometimes it is quite hard to align company’s goals, values,vision, and mission. Coca-Cola has a tendency of engaging thedifferent stakeholders in a manner that is satisfactory to involvedparties. Long-term discussions with stakeholders assist indecision-making that continuously improves the company.

Thereare a variety of ways in which stakeholder groups are engaged. Theengagements may include meetings with locals, regional as well asnational groups to dialogue with the consumers, suppliers, andbottlers. On the global front, the company engages inmulti-stakeholder initiatives like World Economic Forum and U.N.Global Compact. Such forums address challenges facing the globe. Byworking hand in hand with external stakeholders, issues can beidentified and addressed in adequacy. Bringing in externalstakeholders tends to centralize knowledge and expertise that areessential in addressing emerging global issues. The engagement withexternal stakeholders assists the company to attain positiveinfluence on social, and environmental among others issues that arehad to tackle individually [ CITATION The16 l 1033 ].

Thecompany also engages with bottling partners, consumers, communities,employees, governments, and suppliers among others with the aim ofattaining its mission, values, vision, and goals. The company bringstogether all its stakeholders in different capacities.

Recommendedchanges

Coca-Colavastly dominates the global markets regarding of beverage supplies,yet it could do more. A good way of increasing the market shareincludes predicting future customer demands. For instance, as theglobe is continuously changing, issues are also changing. Obesityamong other health related issues is emerging. Coca-Cola could domore in ensuring production of healthy drinks. A good example isengaging in the production of fruit juice that is purely made fromfresh fruits. The drinks could favor individuals challenging cocacola’s products e.g. soda that are deemed unhealthy especially whenconsumed in large quantities. Engaging in fruit juice productionswould not only widen the markets but boost the healthy aspects.

Conclusion

Understandingthe consumers’ needs is core to attaining maximum sales. Coca-Colaapplies brand, price, pack, channel design to project a picture ofquality which customers expect. The mode of service in rural areasdiffers from the urban areas. The company acclimatizes to itsconsumers and serves them accordingly. Coca-Cola, therefore,integrates its missions, values, and visions to ensure the marketsare tapped adequately. Apart from that, stakeholders are keptinformed to ensure smooth operation of the company. Though thecompany boasts of huge sales globally, more can be done to make iteven better. Fruit juices could make it even better if sufficientlyinvested.

References

Coca Cola. (2016). Mission, Vission &amp Values. Retrieved from Mission, Vission &amp Values: http://www.coca-colacompany.com/our-company/mission-vision-values/

Jimenez-Lutter, M. (2015). The Coca-Cola Company. Retrieved from supply chain world: http://scw-mag.com/index.php/sections/distribution/143-the-coca-cola-company

The Coca-cola Company. (2016). Stakeholder Engagement. Retrieved from Stakeholder Engagement: http://www.coca-colacompany.com/stories/stakeholder-engagement/