Strategic management of coca cola company pdf. Strategic Management of The Coca Cola Company opportunities.alumdev.columbia.edu 2022-10-10
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The Coca-Cola Company is a global leader in the beverage industry, known for its flagship product Coca-Cola, a carbonated soft drink that is enjoyed by millions of people around the world. Founded in 1886, Coca-Cola has grown into a multifaceted company that produces and sells more than 500 brands in over 200 countries. In this essay, we will discuss the strategic management of Coca-Cola, including its mission and vision, its internal and external analysis, and its strategic choices.
Coca-Cola's mission is to refresh the world, inspire moments of optimism and happiness, and create value and make a difference. This mission is reflected in the company's vision, which is to be the world's most valuable brand, by creating and marketing the world's most-loved and most-recognized products and services. To achieve this vision, Coca-Cola has developed a set of core values that guide its business practices, including leadership, collaboration, integrity, accountability, passion, diversity, and quality.
To understand the strategic management of Coca-Cola, it is important to analyze the company's internal and external environment. Coca-Cola's internal environment includes its resources, capabilities, and competencies, as well as its organizational structure and culture. The company has a strong brand and a loyal customer base, as well as a diverse portfolio of products and a global distribution network. In terms of resources, Coca-Cola has a strong financial position, with a net income of over $8 billion in 2020. The company also has a strong research and development function, which has allowed it to develop new products and technologies to meet changing consumer needs.
Coca-Cola's external environment includes the macroeconomic, competitive, and regulatory forces that shape the company's industry and market. The beverage industry is highly competitive, with many players vying for market share. Coca-Cola faces competition from both local and global players, including both carbonated and non-carbonated beverage companies. The company must also navigate changing consumer preferences, as health and wellness concerns have led to a decline in sugary beverage sales. In response to these trends, Coca-Cola has diversified its product portfolio to include a range of low- and no-calorie options, as well as more health-conscious offerings such as water, juice, and sports drinks.
Based on this analysis of its internal and external environment, Coca-Cola has made a number of strategic choices to achieve its mission and vision. One key strategy has been to diversify its product portfolio and expand into new markets. In recent years, the company has acquired several smaller brands and introduced new products, such as plant-based milk and energy drinks, to appeal to a wider range of consumers. Coca-Cola has also pursued a number of partnerships and collaborations to expand its reach and access new customers. For example, the company has partnered with Uber Eats to deliver its products directly to consumers and has collaborated with other companies to develop new products and technologies.
In conclusion, the strategic management of Coca-Cola is driven by the company's mission to refresh the world and create value for its stakeholders. To achieve this mission, the company has analyzed its internal and external environment and made a number of strategic choices, including diversifying its product portfolio and expanding into new markets. Through these efforts, Coca-Cola has maintained its position as a global leader in the beverage industry and will continue to adapt to meet the changing needs of its customers.
Coca Cola Company: Strategic Management Recommendations
According to Brooks, corporate social responsibility refers to the process through which a firm conducts its operations ethically 404. On the other hand, sales promotion should also consider the other products that are already on the market. These strategies should include product innovation, new methods of branding, packaging, and sales promotion. The Coca Cola has equipped it with many characteristics belonging to the company. Coca Cola is facing with certain opportunities as well as threats. Issue 4 A global company, company, if they want to get success, success, culture is one of the problems that they must deal with.
This is due to the fact that its products are mainly consumer products. Created in 1886 in Atlanta, Georgia, by Dr. For sales promotion to be effective, the management should ensure that it utilizes various sales promotion methods. Learn more Considering the intensity of competition within the soft drink industry, effective integration of strategic management would enable the firms to develop competitive advantage. The discussion of this paper illustrates the various strategic recommendations that the management of Coca-Cola Company should integrate.
(PDF) Strategic Management Presentation on Coca Cola
The whole supply chain and bottling systems have played important roles in the process. New York: MacGraw-Hill Incorporation, 2008. To ensure effective integration of customer focus concept within its globally distributed firms the management of Coca-Cola Company should share this vision with all its departmental staff. Pemberton, an Atlanta pharmacist, when he tried to create distinctive syrup which can be sold at soda fountains. This is due to the fact that consumers are price sensitive. Coca Cola has been sponsored for events like Olympic Gam es, FIFA World Cup, etc… VI.
STRATEGIC MANAGMENT_PROJECT_THE COCA COLA opportunities.alumdev.columbia.edu
References References:: Mayureshnikam, Vishal V. However, expanding into several countries has lead Coca Cola to the situation of not focusing on developing every branch effectively. In addition, Coca-Cola Company has rights to operate across Europe which means they have rights to operate in 24 European countries. Sales promotion will enable the firm to improve its product awareness within the market. This has resulted in an increase in the variety of commercial beverages. The management should also incorporate corporate social responsibility. They sell their products in 200 countries all over the world.
(PDF) Strategic Resources Management: A case study of Coca Cola Company
The target market for Coca cola is very wide as it satisfies the needs for many different consumers. Coca Cola was established in 1886 by Dr. This means that both the internal and external business environment is considered. What makes them so good? The effect is that the firm will be able to price its products more competitively in relation to its suppliers culminating in a higher competitive advantage. By gaining this knowledge, it would be possible to determine the price of its products more effectively.
Strategic Management of The Coca Cola Company opportunities.alumdev.columbia.edu
This enables it to produce its soft drink products in a manner that results in higher customer satisfaction. The bottling rights were sold to different local entrepreneurs Aashish Pahwa, 2019. Through customer focus, the management of the firm will be able to effectively satisfy the customer needs. Conclusion Strategic management is a key element in the financial success of a firm. One of the firms that have been dominating the global soft drink market is the Coca-Cola Company. Currently, the company has expanded into various economies through foreign direct investment.
Besides, long history has helped Coca Cola to gain not only the fame but also trust among customers. Introduction The business environment is characterized by a high degree of dynamism. Strategic recommendation Integration of Customer focus For Coca-Cola Company to succeed, the management should integrate the concept of customer focus. The firm specializes in the production of a variety of drinks. Use discount Works cited Ahmed,Faraz, Khan,Arshad and Waqas,Mohammed. Furthermore, we could find on their TV advertisement that they target families to choose Coca-Cola drink as favorite family drink.
These include; energy drinks, juices, water, sports drinks, coffee, tea etcetera. According to David, strategic management entails an analysis of all the factors related to customers, competitors and the firm 5. According to Angela, CRM refers to a well-organized process through which the management of a firm is able to keep track of its customers para. In addition, in the year of 1899 three entrepreneurs purchased the bottling rights for the Coca Cola drink from Asa Candler for a one-dollar only. Additionally, operating in more than 200 countries around the world with nearly 400 brands Additionally, allows Coca Cola to be easily recognized and be the popular brand as well as being chosen by thousand customers from all over the world. This is due to the fact that the firm is composed of experienced human resources that can help in transforming the society.
This is because firms have heavily invested in research and development. This is through integrating concepts such as research and development, sales promotion, branding, and product customization. Strong flavor and health conscious are typical behaviors of the customers that Coca Cola is focusing on. One of the ways in which Coca-Cola can implement corporate social responsibility is through works of charity. By acquiring Costa Coffee, the Coca Cola Company will gain new expertise and capabilities.
Coca Cola has done it well, it understands people from different culture then using its innovation to mix different cultures and flavors together to make new product. Identifying Market Segments And Targets for Marketing Strategy Plan Of Coca Cola Company In Malaysia, 7 4 , 77 — 80. Coca Cola Marketing Strategy: Recipe for Success. . Through research and development, the management of Coca-Cola Company would be able to differentiate its products effectively. Some of these suppliers are related to raw materials and finances.