STRATEGIC PLAN .2 Strategic Plan Draft Michael Braden Trevecca ✓ Solved

Industry Overview and Insights Coca Cola is well known company especially for beverages. Their products are sold in more than 200 countries and even more. There are many other projects of Coca Cola which include Fanta, Sprite, Dasani water, vitamin water and smart water. The revenue form the beverages is the biggest portion of the company which accounts for 78% of the total revenue. Coca Cola has 3000 drink products and total 500 brands under its name (Maani Hessari et al., 2019).

Organizational History Coca Cola has been operating since 1886 as it is one of the largest and the oldest beverage companies all over the world. Doctor John Pemberton was the one who established the company in Atlanta, USA. Ever since Coca Cola gained success and now it is world number one beverage company (Walsh & Dowding, 2012).

Mission “ To refresh the world in mind, body, and spirit, to inspire moments of optimism and happiness through our brands and actions, and to create value and make a difference.

Vision “Our vision is to craft the brands and choice of drinks that people love, to refresh them in body & spirit. And done in ways that create a more sustainable business and better shared future that makes a difference in people’s lives, communities and our planet.

Values The core values of Coca Cola are “leadership, collaboration, integrity, accountability, passion, diversity, and quality.” Coca Cola has a very strong internal culture which has helped the company gain success. Due to all these core values, Coca Cola has become one of the biggest companies in the world. Coca Cola treats its employees in such a good way that it increases their motivation, skills, productivity and quality of work (Irefin & Mechanic, 2014).

Main value proposition(s) The current value proposition of Coca Cola is “The Coke Side of Life.” This shows the level of happiness when a person opens up the bottle of Coke. It also shows that the consumers are willing to sacrifice anything for just one sip of Coke (Foster, 2014).

Leadership within the organization Coca Cola uses the Laissez Faire leadership style which is considered to be a flexible one. It is also known as the “hands off” leadership. In this kind of leadership, all the employees can take part in the decision making of the company. It revolves around teamwork where everyone can have a say in the important matters.

Stakeholder Analysis Internal Stakeholders: The internal stakeholders of Coca Cola include the directors, employees, senior managers, shareholders and the vice presidents. External Stakeholders: The external stakeholders of Coca Cola include the customers, nonprofit organizations, suppliers, government, consumers and the bottling partners (Foster, 2014).

Organizational Mandates The two organizational mandates of Coca Cola are: · To develop and maintain stability to succeed in the next years. · To become the highest revenue earner in the coming years.

Paper For Above Instructions

The Coca-Cola Company, established in 1886, has evolved into the world's leading beverage producer, recognized for its vast portfolio including Coca-Cola, Fanta, Sprite, Dasani, and many more. Operating in over 200 countries, Coca-Cola generates approximately 78% of its annual revenue from its beverages (Maani Hessari et al., 2019). To better understand Coca-Cola's strategic planning, this paper will delve into its organizational history, mission, vision, values, value propositions, leadership style, stakeholder analysis, and organizational mandates.

Organizational History

Coca-Cola began as a modest syrup created by John Pemberton in Atlanta, Georgia. Over the years, it has transformed into a significant global corporation. Its rich history is a testament to its adaptability and commitment to innovation in response to changing consumer preferences and market dynamics (Walsh & Dowding, 2012). Today, Coca-Cola stands not only as a beverage company but also as a symbol of American culture and entrepreneurship.

Mission and Vision

Coca-Cola's mission statement is focused on refreshing the world in mind, body, and spirit, inspiring moments of optimism and happiness, and making a difference through their brands and actions. This mission reflects the company's dedication to not just consumer satisfaction but also social responsibility and sustainability.

The vision statement further emphasizes Coca-Cola's aspiration to craft drinks that resonate with people and contribute to a more sustainable future. This dual focus on both profitability and social impact illustrates the company's commitment to CSR (Corporate Social Responsibility), which is increasingly vital in today’s business environment (Kolk & Lenfant, 2018).

Core Values and Culture

Coca-Cola champions a set of core values including leadership, collaboration, integrity, accountability, passion, diversity, and quality. These values guide the company’s operational strategies and cultural practices. The organizational culture promotes employee satisfaction and motivation, leading to enhanced productivity (Irefin & Mechanic, 2014). A motivated workforce is fundamental in driving Coca-Cola’s success, establishing it as not only an industry leader but also as a desirable workplace.

Value Proposition

The distinctive value proposition of Coca-Cola, encapsulated in “The Coke Side of Life,” symbolizes the emotions associated with consuming its products—particularly the joy and refreshment experienced when opening a bottle of Coke. This narrative resonates deeply with consumers, illustrating Coca-Cola's ability to create strong emotional ties and brand loyalty, which are essential in competitive markets (Foster, 2014).

Leadership Style

Coca-Cola employs a Laissez-Faire leadership style, characterized by autonomy and minimal direct supervision of employees. This approach encourages teamwork and participatory decision-making, allowing employees at all levels to have a voice. Such a structure fosters creativity and innovation while enhancing the company's responsiveness to market changes and consumer tastes (Harrison, 2020).

Stakeholder Analysis

Coca-Cola's stakeholder ecosystem is diverse, comprising both internal and external entities. Internal stakeholders include directors, employees, and shareholders, while external stakeholders encompass customers, suppliers, governmental bodies, and bottling partners (Foster, 2014). Engaging with stakeholders effectively not only builds trust but also aligns Coca-Cola's strategic objectives with societal expectations.

Organizational Mandates

The organizational mandates of Coca-Cola focus on two primary objectives: first, ensuring stability for sustained future success, and second, striving to be the highest revenue-generating beverage company globally. These mandates underscore a proactive approach to market leadership and competitive positioning in the beverage sector, which is vital for long-term sustainability (Jones & Hill, 2018).

In conclusion, Coca-Cola's strategic plan is deeply interwoven with its rich history, robust organizational culture, and unwavering commitment to fulfill its mission and vision. As Coca-Cola continues to navigate the complexities of a dynamic global market, the alignment of its core values, leadership style, and stakeholder engagement will be instrumental in achieving its objectives and reinforcing its position as a leader in the beverage industry.

References

  • Foster, R. J. (2014). Corporations as Partners: "Connected Capitalism" and The Coca-Cola Company. PoLAR: Political and Legal Anthropology Review, 37(2).

  • Irefin, P., & Mechanic, M. A. (2014). Effect of employee commitment on organizational performance in Coca-Cola Nigeria Limited Maiduguri, Borno state. Journal of Humanities and Social Science, 19(3), 33-41.

  • Maani Hessari, N., Ruskin, G., McKee, M., & Stuckler, D. (2019). Public meets private: conversations between Coca-Cola and the CDC. The Milbank Quarterly, 97(1), 74-90.

  • Walsh, H., & Dowding, T. J. (2012). Sustainability and The Coca-Cola Company: The Global Water Crisis and Coca-Cola's Business Case for Water Stewardship. International Journal of Business Insights & Transformation, 4.

  • Kolk, A., & Lenfant, F. (2018). Business and Sustainability: The Global Perspective. Cambridge University Press.

  • Harrison, S. (2020). The Role of Leadership in Organizational Change Within Beverage Industry. International Journal of Business Management, 15(2), 76-83.

  • Jones, G. R., & Hill, C. W. L. (2018). Strategic Management Theory: An Integrated Approach. Cengage Learning.

  • Porter, M. E., & Kramer, M. R. (2011). Creating Shared Value. Harvard Business Review, 89(1/2), 62-77.

  • Barney, J. B. (2019). Gaining and Sustaining Competitive Advantage. Pearson.

  • Mintzberg, H. (2013). The Structuring of Organizations: A Synthesis of the Research. Prentice Hall.