The Coca-Cola Company is among the leading beverage companies with over 500 brands of non-alcoholic beverages. The founding of the company was in 1886. Besides serving sparkling beverages, Coca-Cola Company also produces still beverages like sports drinks, coffees, ready-to-drink teas, juices, and water. In its formative years, the company had significant innovations in the beverage industry such as the steel 12-ounce and six-bottle carton (Bodden 2008). The business organization later penetrated the international market such as Panama, Cuba, Canada and Italy among other countries, hence expanding the initial market in Atlanta, Georgia.
In 1892, Candler bought Coca-Cola Company from its founder John S. Pemberton who made the first Coca-Cola syrup at his back yard and sold it in a pharmacy. Under the new leadership of Candler, the company expanded internationally. Currently, the company serves more than 200 nations with over 3500 products, being engaged in marketing, distribution, and production of syrups and nonalcoholic beverages (Bodden 2008). This paper will discuss the Coca-Cola's mission, purpose, stakeholders as well as the industry segment.
Together with its bottling partners, Coca-Cola Company developed its 2020 vision in 2009 (Bodden 2008). Productivity, planet, partners, portfolio, people, and profit are the key areas of focus to achieve the global system revenues in the next decade (Bodden 2008). Generally, Coca-Cola Company's mission is to refresh its consumers and collaborate with them by inspiring optimistic approach in their actions (Bodden 2008). The company's mission also involves making a difference and creating value in all places where the organization is engaged. The company's purpose is to motivate the employees to make a meaningful contribution to society and business as well as to assist in creating better future, spread happiness, and bring friendship (Bodden 2008). The future success of the company depends solely on the values it promotes (Bodden 2008). They include acting with integrity and doing what is right with speed and passion; this is what the company strives to attain (Bodden 2008). The authorities of the organization listen to learn; they care for the consumers by empowering, investing, and believing in them. Moreover, the spirit of togetherness which is beneficial for work on every occasion is highly appreciated. Above all, the company values the customers; they are the heart of everything the organization does (Bodden 2008).
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Coca-Cola Company engages with its external and internal stakeholders to determine the areas that need more clarification and explanation in their reporting (Bodden 2008). The various stakeholders of Coca-Cola Company include bottling partners, consumers, customers, communities, employees, and suppliers (Bodden 2008). The following are the duties of the key stakeholders and reasons why they function in a particular way.
The bottling partners' task is to manufacture, package, merchandise, and distribute the ultimate branded beverages to the vending partners and customers to achieve localized strategies (Rothaermel 2015). Consumers are also the part of the Coca-Cola system. The company sells final branded beverages to the consumers who are situated in various places such as fun parks, movie theaters, restaurants, and grocery stores among others (Rothaermel 2015). Additionally, customers play a vital role together with sales and marketing teams: they ensure Coca-Cola products are readily available to consumers (Rothaermel 2015). Experienced technicians provide advice on how to handle equipment to keep it functioning proficiently as well as how to service, repair, and remove faulty equipment (Rothaermel 2015). Suppliers are critical to the success of Coca-Cola Company as they assist in refreshing the world every day by delivering required products and services, machinery and packaging, ingredients, and materials for the company (Rothaermel 2015).
How It Works
The community also has its part in the Coca-Cola system. The company annually gives back 1% of its prior year's operation income to the community (Bodden 2008). Moreover, the Coca-Cola Company established a charitable foundation in the United States (Bodden 2008). In case of natural disaster, this foundation responds to offer relief with the help of the community (Bodden 2008). On the other hand, the organization supports the community by purchasing goods and services from small businesses and women entrepreneurs (Rothaermel 2015).
In general, the company's success depends on committed and motivated employees who strive to achieve the business goals. It is, therefore, important to create a pleasant working environment to help employees move towards their career aspirations, develop skills to help them improve, and excel in their performance (Rothaermel 2015).
Undoubtedly, Coca-Cola Company is the leading beverage industry globally. The company's values are mainly included in the Vision 2020 of winning the strategic framework. The company aims at delivering good values in order to attain effective leadership, customer preference, consumer relevance, and community trust. Through motivating the employees, the company can achieve greater revenues. The opinions of the enterprise's stakeholders such as suppliers, bottlers, customers, consumers, and community, contribute to shaping report sustainability. The strength of Coca-Cola system has helped the organization create a global reach on the local scale. The company should provide a long-term roadmap and destination for winning together with the stakeholders and help remain in business in the future.