Coca-Cola's Mission and Vision Statements Term Paper

Pages: 4 (1023 words)  ·  Bibliography Sources: ≈ 3  ·  File: .docx  ·  Level: Doctorate  ·  Topic: Business

Coca-Cola's mission and vision statements have a high degree of congruency with its strategy. By outlining in simple terms what the company does and how it does it, these statements provide a clear explanation of the core business, and provide the company's employees with guideposts for action.

Coca-Cola operates with a matrix structure. The organization has strong geographic divisions, but within each division the company also has product units. The five main geographic units at the heart of the company's organizational structure are Eurasia & Africa, Europe, Latin America, North America and Pacific. The company's beverage units are focused on still or sparkling, but will vary from region to region and country to country. This paper will outline some of the aspects of the company that help to support the strategy, including the control systems, the culture and the statements of mission and vision. All of these play an important role in supporting the company's strategic objectives.

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The basis of the company's strategic control systems is the Coca-Cola Operating Requirements (KORE), which replaced the previous system in early 2010 (Coca-Cola Annual Review 2010). The KORE system is designed to allow the company to "address the changing business landscape while supporting our company's strategic growth plans by creating an integrated quality management program." With this program, all of the company's operations worldwide are held to consistent standards for product quality. The company also "constantly reassesses the relevance of our requirements and guidelines not only in manufacturing but throughout the entire supply chain." Further enhancing the strategic control systems is a concept known as "Coca-Cola Systemwide Performance." Under this, the company's representatives meet with "several of our largest bottling partners…to discuss…a core set of performance indicators for the Coca-Cola system" (Ibid). These core indicators, along with the new KORE system, form the basis of strategic control within the company today.

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The company also has a strong set of cultural values that help ensure consistency around the world. These are based around the concept of the 2020 Vision, that serves as the framework for setting objectives relating to sustainability and market success. The company tries to foster an environment where employees take ownership of their work and situations that they face, so that customer service is maximized. In addition, the culture preaches urgency, proactivity and efficiency (Ibid). The culture is guided by the mission statement(s), which are "to refresh the world," "to inspire moments of optimism and happiness" and "to create value and make a difference." There are several elements to the vision statement, covering people, the portfolio, partners, the planet, profit and productivity.

The key human resources concerns are to identify top talent and retain it. The company believes that its people are a key asset, along with the brands. As such, Coca-Cola strives to be a destination employer where employees can exercise creativity, exploration and professional growth. The culture is oriented towards a diverse and collaborative environment, something that Coca-Cola believes will help add value to its business (Coca-Cola, 2012).

The mission, vision and culture all appear to be strongly… [END OF PREVIEW] . . . READ MORE

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