Strategic Management

Strategic Management: Coca Cola Company

Introduction

Strategic management is a common business practice where businesses develop strategies for the organization from which policies are developed and implemented at the functional level. This is an effective way to help managers and top layer of the organization to compete in the long term (Webster, Amanda L., 2012).

Coca Cola is one of the most favored drinks across the world and it is widely known as Coke. It was established in the year 1886, with around 500 brands and 3000 beverage products till date. The company has its operations globally and is present everywhere, even in the remote areas of the world. This is their greatest strength. The company is involved in manufacturing different drinks under other brand names and is responsible for marketing their products worldwide. They have partners for manufacture, packaging and distribution of all their finished products to their customers in International Markets (Bobby Fisher, 2012).

Mission and Vision

The Mission of the company is 'to refresh the world...to inspire happiness…to make a difference'. This clearly states they want to be an organization where employees must feel they are part of it and focuses on continuous improvement (Bilarus, 2009). The company's vision is based on the six factors. It is the best workplace for their employees, to bring the products that are best for the consumers, to be a great business partner, to support communities, maximize shareholders wealth and be a highly efficient and fast moving organization. The mission, vision and the strategies that the company has direct it to achieve its objectives. Therefore, everything that goes around in the company is part of this.

Organizations Focus

The corporate strategy of the company is the 'global marketing'; where their main focus is t make their product within the reach of its customers. They consider the whole world as one single market place where uniform marketing strategy was used for many years. However, today the trend is changing and their different marketing campaigns that target customers in a different way. The company also changes the design, size and taste of the drink from time to time keeping in view the changing trend. The company does business with customers with different cultural backgrounds and targets the health conscious consumers as well (Bobby Fisher, 2012). Their consumers range from young to old, athletes and coffee lovers. Their advertisements usually target the young so that they can feel the energy and power of the youth. Presently, the company wants to innovate keeping in view consumer tastes and also want to create a healthy and active lifestyle. They work continuously with their other partners to improve customer relationship and make their products widely available everywhere (Bilarus, 2009).

Growth objectives of Coca Cola

The long term growth strategy of Coca Cola is to invest in the upcoming markets. This is done after a detail study of the scope of these markets, population increase and the wealth of the individuals (Bobby Fisher, 2012). It is estimated that by the year 2020, a major middle ...