Coca Cola Company is an American multinational corporation dealing in beverages by manufacturing, retailing and marketing non-alcoholic beverage concentrates as well as syrups. Primarily, the company is famous for its flagship product Coca Cola that was invented by pharmacist John Stith Pemberton in the year 1886 in Atlanta, Georgia (Giebehaus, 2008). This is the time when the Company was founded. Coca-Cola company serves a worldwide market with its branches on every continent. The company’s total assets or net worth are estimated at $87.896 billion. the company is organized into divisions that are headed by presidents (Giebehaus, 2008). The company is also managed by a board of directors with Muhtar Kent as the chairman of the board.
Coca-Cola Mission Statement
Today, no beverage brand reaches most of the man-kind than Coca-Cola. Its mission statement is quite straightforward and is based on three main pillars. The company believes it can make the world a better place and to make everyone enjoy the happiness that comes with it. All the company’s aims, objectives, vision, values and mission statements are based on that belief. This mission statement forms the foundation of the enterprise. According to the Coca-Cola Company on Mission, Vision, and Values “Our Roadmap starts with our mission,” this is enduring. It declares our purpose as a company and serves as the standard against which we weigh our actions and decisions.” (The Coca-Cola Company). This roadmap is a long-term plan around which the company’s operations revolve around. Simply put, the three core aims and objectives that form the mission statement are to refresh the world, to inspire moments of optimism and happiness and finally to create value and to make a difference.
But how does the company ensure the mission statement is accomplished? What does it mean to refresh the world according to Coca-Cola? Well, this is not only attributed to stimulating the consumers with the very best of soft drinks brands but also to care for the environment as it is a major source of its ingredients. Highlighted by the recent “Share a Coke” campaign, Coca-Cola has gone a mile ahead to inspire moments of optimism and happiness to all its customers. The commercials and ads have been designed to bring a smile on the audiences’ faces, leave alone the satisfaction that comes from enjoying the various products this company offers. Regarding the last stated mission, the company tries to create value and make a difference by encouraging recycling of their containers as well as partnering with reputable charitable organizations. Among the most known charitable organizations that the company has partnered with include the World Wildlife Fund and the International Foundation of the Red Cross and Red Crescent Societies. With the best market strategies today, as well as a good leadership structure in place, Coca-Cola continues to take its place in the Global market today, albeit stiff competition from other world-leading beverage companies, on the top of the list been Pepsi (Coca-Cola Company, 1990).
Coca Cola’s mission statement can be summarized in three broad statements. It works to ensure it offers the best quality service to its customers. Being in service since the late 19th century once can comfortably conclude that the company has already appealed to customers in ways that other soft drink production companies have not. Coca cola is almost a worldwide monopoly (Lopez, 2013). The mission statement is characterized by the following:
- To refresh the world in mind body and spirit: In short, Coca-Cola here states its intent of maintaining its status of being the major soft-drink distribution company (Liebowitz, 2011). They want to appeal to the world more than they have already. This is a mission statement one of the reasons why Coca-Cola remains the top beverage distributor in the world. They intend to reach the world in ways that work toward leaving a permanent mark. Using their team of well-trained staff puts a lot of hard work and commitment, they have a potential of achieving the above-stated mission statement (Isdell & Baeley, 2012). Goals such as this one which is human oriented mostly end up succeeding.
- To create value and make a difference: This statement aims to highlight its intent of achieving uniqueness. They thrive to add value to the products in which they produce to make them more appealing to the human consumers (Elmore, 2015). The distinguishing factor in Coca-Cola is that no one can replicate the secret formula that is used to manufacture the drinks. Insight shows that the only two individuals who are well acquainted with the secret formula are not allowed to travel in the same plane least it clashes. By doing so, the company makes a difference by producing what cannot be replicated by other competitors (Butler & Tischler, 2015). This also helps to add value to the drink since it cannot be obtained anywhere else. One can comfortably argue that Coca-cola has made a stepping stone in maintain the value and making a difference (Elmore, 2015). It is one of the reasons as to why it maintains being a globally recognized branch. Missions oriented toward human living are always bound to succeed.
- To inspire moments of happiness: Someone, who is well acquainted with the Coca-Cola Company cannot fail to note that it has been behind various campaigns which govern happiness and togetherness. For example, the Share a Coke campaign. This was a brief period in which Coca-Cola introduced the notion of writing people’s name on bottles of the drink. The names used were mainly common names (Butler & Tischler, 2015). One would fail to resist buying a drink that had their friend, family member, loved one or even a colleague at work. These were the basis of moments of happiness inspired by the drink. Other similar campaigns have also been enacted which aim to instill happiness to the individuals purchasing the drink (Coca-Cola Company, 1993).
Company missions and vision statement are more likely to be achieved if they are oriented toward satisfying human wants. A characteristic of a good product is its ability to meet all pillars of human wants that are supposed to be in the overall product. Adding on top of that is the marketing strategy. If one learns to correlate a product with happiness, there is a high chance that consumers will be purchasing that particular product a great deal (Butler & Tischler, 2015). Coca Cola has learned to make consumers associate the drink with family, friends and overall bonding. This may be seen in a lot of their commercials.
The Coca-Cola Company, as already explained, is a soft drink/beverage distribution company (Butler & Tischler, 2015). This means that a significant portion of its products is soft drinks. The secret ingredient to the Coca-Cola drink widely remains unknown. Only two people are aware of it (Butler & Tischler, 2015). This might be the secret behind the success of the company since their products cannot be replicated. Each drink/ beverage offered by the company is its unique brand (Butler & Tischler, 2015).
Similarly, the company also distributes bottled water branded Dasani. This is not found in all countries, however (Butler & Tischler, 2015). Similar to the bottled water, the company also has a range of processed fruit juice referred to as the minute maid brand (Butler & Tischler, 2015). It exists in various flavors, but it is limited to a few countries. The other range of soft drinks includes Fanta and Sprite. Coca-Cola exists in different sub reads and types. For example, there is the Coca-Cola Zero which is low in sugar, and the Coca-Cola light which is low in gas. Distinct sub-variants that exist include the diet coke (Elmore, 2015).
Different flavored variants of the Coke exist, for example, in the Asian region; there is a vanilla flavored variant of the Coca-Cola (Elmore, 2015). The company distributes according to the taste preference and culture of the affected region. The packaging is also different in each and every region as a representative of the culture of the regions involved. The standard Coca-Cola drink is available in some parts of the world while the other variants are only limited to specific areas alone (Elmore, 2015).
The company is hence well suited to answer the needs of its consumers. The major problem facing the company is the different countries where consumption of Coca-Cola or other soft drinks is completely inhibited. This impedes expansion into these regions (Elmore, 2015). The company has an elaborate plan to work over this. The only real threat to Coca-Cola is rival soft drink manufacturers like Pepsi and alcohol distribution chains. They do not present as much threat however because Coca-Cola is a drink that virtually anyone can take while alcohol is restricted to a particular age bracket alone. This flexibility is one of the many reasons as to why the company is continuing with its rising streak. All products manufactured by Coca-Cola serve to match the preference of different cultures (Elmore, 2015).
Executive leadership at Coca-Cola
The organizational structure at Coca-Cola is one of its kinds and is one of the key factors that have led to the overall success of the company. This international company organizes itself in a manner that places it comfortably on the world market, while at the same time looking at the particular needs of its regional markets sensitively to address any emerging issues. The company has a separate International Division Structure whose staffs work in isolation from the head office though. There are five continental divisions, each with a president as the head. Some further vice-presidents control the sub-divisions, which can go to as low as individual countries. The operations at the domestic level are very much similar to those at the international level making control quite easy (Brunner, 2010).
At the head office, we have Muhtar Kent, who is the Chairman of the Board of Directors and the Chief Executive Officer (CEO). At the senior leadership, there is James Quincey who is the overall President and Chief Operating Officer of all the international divisions. At the North America Division, there is J. Alexander Douglas who is the executive president as well as vice president of this region. Following closely is Ceree Eberly who is the Senior Vice President and Chief People Officer. Other in senior leadership includes Chief Technical Officer, Chief Strategy, and Planning, Chief Information Officer, Chief Financial Officer, Chief Legal Counsel as well as Chief Customer and Commercial Leadership Officer among others. The Board of Directors among other duties elects those to hold the offices according to their capabilities. The company continues to enjoy good leadership with one of the best organizational structure which coupled with a corporate sergeant Head Office responsible for giving the company overall direction makes it a leader in the world market for soft drinks. Today, the company has over 700000 system employees and ranks among top ten private employers, thanks to its real leadership.
The company has a set of unique goals and visions in which it strives to achieve (Lopez, 2013). They provide the framework and guidance which it needs to progress forward. As stated previously, the company’s goals and visions act as guidelines to show which way overall, the company is progressing (Butler & Tischler, 2015). For example, if a company was progressing forward, it will be characterized by an achievement of more goals and missions and vice versa. Coca cola’s goals include
- Fostering unity: One of Coca Cola company mission is to foster unity by providing a healthy working environment where people can work alongside each other with peace and harmony (Butler & Tischler, 2015). This in turn leads to inspiration of each other and hence raises working efficiencies in the long run (Butler & Tischler, 2015),
- Build Image and Variety: Coca Cola Company wants to supply drinks of different varieties to all parts of the globe when demand is needed (Butler & Tischler, 2015). Considering the fact that there are different cultures all around the world with different tastes and preferences, Coca Cola can appeal to all of them by providing drinks which match their cultural preferences. By appealing to all audiences, the company builds its image and continues to be the preferred choice for a wide variety of audiences (Butler & Tischler, 2015).
- Establishing Partnerships: The Company also aims to establish a wide network of partnerships with well-established companies. The partnerships will allow the company to thrive in an all rounded situation. Partnering with some of the most common distributors such as Walmart is also advantageous to both of the company’s (Elmore, 2015). Partnerships may also be established with local schools and universities, i.e. sponsoring football and basketball teams
- Profit: Another one of the company’s goals is to ensure their respective shareholders and stakeholders are assured of long term profits. This is while being mindful of other responsibilities in which the company has to undertake. These incentives ensure maximum stakeholder support and coordination when partaking a major project which is in need of some financial input from them.
- Productivity: The Company’s final goal is to be productive (Elmore, 2015). This is through employing a highly productive team which is fast moving and quick to make decisions. This puts the company under a strategic advantage over other competitors (Elmore, 2015). Achieving this goal is the stepping stone for the company. This is due to the fact that most companies strive to be productive in nature. This ensures much profit realized and hence the company prospers.
Goals as explained above are the pillars which define the direction where the company is trailing. Goals create a major media for comparison between two different entities (Kepos & Cengage Learning (Firm), 2007). The one with the most elaborate and well-defined goals characterized by the achievement of a great deal of them is likely to be more successful than the other one. Effective goal creation and achievement is the best way to ensure that the company is moving forward or that it is moving backward (Elmore, 2015). Companies should, therefore, sport an elaborate goal setting technique if it wants to thrive in many different places (Elmore, 2015).