Strategic management involves managers implementing planned and emerging initiatives on behalf of company owners to enhance performance. This includes utilizing resources, developing plans and policies to achieve the company's main objectives, vision, and mission. The following article will discuss how Coca Cola Company's strategic management has contributed to its global success.
The Coca Cola Company, founded in 1886, is a major American corporation that manufactures popular non-alcoholic beverages worldwide. With over 1.6 billion customers in at least 200 countries, the company's mission is to refresh the world, create moments of happiness and confidence, and make a positive impact while generating value (The Coca Cola Company, 2006). This mission statement guides their decisions and actions globally while aligning with specific country policies.
According to Epstein & Birchard (2000), having a clear vision is crucial for business success as it provides a framework and guideline
.... The Coca Cola Company has multiple visions: productivity, profit, partners, portfolio, planet, and people (The Coca Cola Company, 2006). Productivity ensures efficient operations within the company while maximizing overall effectiveness. The profit vision focuses on long-term shareholder value while maintaining responsibility towards society. The company employs innovative strategies such as their bottle water initiative to further expand profits.
The partner's vision emphasizes creating mutual value through strong partnerships with suppliers and customers alike. Lastly, the portfolio vision plays an essential role in driving growth and ensuring success for the Coca-Cola Company by guaranteeing high-quality beverage brands that not only meet but exceed people's needs and desires.The company places importance on sustainable community development efforts as part of its corporate responsibility initiatives. Coca Cola attracts and hires exceptional individuals who aspire to be the best, while
also embracing values like quality, diversity, passion, accountability, integrity, collaboration, and leadership to compete with rivals such as Pepsi. Additionally, Coca Cola has set objectives focused on customer satisfaction and introducing healthier products to fulfill its mission and vision. These objectives align with the company's mission and contribute to its success in being a market leader with a growing customer base. Collaboration with stakeholders including customers, employees, distributors, and franchises ensures that Coca Cola's strategies meet customer needs. By investing in research and development and effectively engaging stakeholders, Coca Cola has become a highly successful firm in the 21st century. This success is attributed to the company's commitment to good corporate governance principles (Epstein & Birchard, 2000).
- Leadership and Management essays
- Change Management essays
- Project Management essays
- Knowledge Management essays
- Operations Management essays
- Quality Management essays
- Risk Management essays
- Scientific Management essays
- supply chain management essays
- Performance Management essays
- Time Management essays
- Brand Management essays
- Total Quality Management essays
- Risk essays
- Manager essays
- Leadership essays
- Business Ethics essays
- Board Of Directors essays
- Product Management essays
- Comparative Analysis essays
- Decision Making essays
- Dispute Resolution essays
- Stress Management essays
- Business Management essays
- Brand Equity essays
- Branding essays
- Nike, Inc. essays
- Market share essays
- Razor essays
- Being A Leader essays
- Servant Leadership essays
- Leadership Experience essays
- Leadership Qualities essays
- Incentive essays
- Adidas essays
- Amazon essays
- Apple essays
- Bmw essays
- British Airways essays
- Burger King essays
- Coca-Cola essays
- Company essays
- Costco essays
- Dell essays
- Ebay essays
- Enron essays
- Facebook essays
- Ford Motor Company essays
- Gap essays
- General Motors essays
