Coca-Cola Company Mission and Vision

As previously mentioned, the Coca-Cola Company is a global beverage company. It produces soft drinks that are offered in numerous areas throughout the world. The goal of the Coca-Cola Company is to inspire moments of joy and optimism in its consumers and to revitalize their bodies, minds, and spirits through the usage of its products. The Coca-Cola company's aim is to ""refresh the world, to inspire the moment of happiness, to establish values and make a difference,"" according to its mission statement. The direction and endeavors of the company are governed by this mission. On the other hand, the vision of Coca-Cola Company is to produce quality brands, provide a better way of relating and working with their partners as well as offer a better working condition for their employees. In the vision statement is stated that “the vision serves as a framework and guides every aspect of the business by describing what we need to accomplish to achieve sustainable, quality growth”. In this statement, the firm further clarified that it aims to be a great place for everyone to work in, to produce and make available, the world’s quality beverages that look forward to satisfying the desires of their customers. Also, they intend to nurture winning network suppliers and their customers to create mutual, lasting values. Further, their vision statement clarified that they would like to be a company that is a responsible citizen who aims to bring a difference in their planet.

In this paper, the focus will be on the objectives that Coca-Cola uses to improve their internal business processes and how these objectives relate to their mission and vision.

The objectives that focus on the improvement of their internal processes are numerous. First, the company aims to be known as one that conducts its business activities ethically and responsibly. This can be measured by gathering information on the complaint of customers on various aspect of business as well as their products. Also, this objective can be measured through their contributions to the community through corporate social responsibility. Throughout the financial year, the firm is expected to have engaged in at least one CSR activity in all the regions where they have big offices. This should the least target for the firm. To improve their ethical code of conduct, the firm needs to have a training and development department whose aim is to continuously engage in instilling business skills on their employees about the importance of conducting business ethically and being socially responsible firm(Cardoso, 2013). The relationship between this objective and the financial objective is that when an organization conducts its business ethically and engages in corporate social responsibilities, they are indirectly advertising and attracting more market as well as retaining the already available customers. In return, they will be able to sustain and increase their profits from the market and thus improving their financial performance.

Secondly, the company aims to hasten a sustainable growth that will enable it to be on the market tomorrow. To measure their sustainability and growth, the firm would need to use benchmarking techniques where they would continuously monitor their growth and performance by comparing their activities with those firms that have the high level of performance in the market. The expected level of performance as far as sustainability and growth is concerned is to have an increased market share annually. If the firm would be able to expand its market annually as well as its financial profit, then they would say to be in line with this objective(De Waal, 2013). To ensure successful implementation of this objective, the firm would need to engage in a serious market campaign, advertisement and reach out to regions where it still does not have a proper customer base. This objective can be said to have a relationship with the financial objectives of the firm in that when the market is expanded; there are high chances of increased profitability and thus an improvement on its financial performance in the market as well as sustaining high profitability level. Market share improvement usually needs more capital, and in return, the firm will also gain more profit from its new customers.

The third objective is to monitor the progress of the company’s campaign to ensure that all the roll-outs are evaluated and effectively monitored. This objective can be measured by collecting information about market responses to various campaigns. It will help the firm to establish if they are achieving the mission of these campaigns and activities that are aimed at sensitizing the market and making people aware of their products in the market. The target for such activity is that there should be an increased number of people or customers that were made aware of the offers of the company as far as a beverage and soft drink market are concerned. There should be a social media campaign strategy that the firm can use to monitor and engages with their customers by answering their questions and making them aware of any new business activity or new product (Šoltés and Gavurová, 2013). By making more customers aware of their activities, this objective enhances marketing and thus would be helpful in improving the financial performance of the firm.

References

Cardoso Vieira Machado, M. J. (2013). Balanced Scorecard: an empirical study of small and medium size enterprises. Revista Brasileira de Gestão de Negócios, 15(46).

De Waal, A. (2013). Strategic Performance Management: A managerial and behavioral approach. Palgrave Macmillan.

Šoltés, V., & Gavurová, B. (2013). Application of the cross impact matrix method in problematic phases of the Balanced Scorecard system in private and public sector. Journal of Applied Economic Sciences, 8(1), 99-119.