Strategic management is the process by which organizations plan and implement strategies to achieve their objectives. It involves analyzing the internal and external environment, setting goals, and determining the resources and actions needed to achieve those goals. The strategic management process is a continuous cycle that consists of four main stages: strategy formulation, strategy implementation, strategy evaluation, and strategy modification. This process is crucial for organizations to adapt to changing market conditions and to remain competitive.
One company that has a well-established strategic management process is The Coca-Cola Company, a multinational beverage corporation that is known for its flagship product, Coca-Cola. Founded in 1886, Coca-Cola has become a global brand with a strong presence in more than 200 countries. The company's success can be attributed, in part, to its effective strategic management process.
In the strategy formulation stage, Coca-Cola's management team conducts a thorough analysis of the internal and external environment to identify opportunities and threats. This includes analyzing the company's strengths and weaknesses, as well as market trends and competitors. Based on this analysis, the team develops a set of long-term goals and objectives, as well as a strategy to achieve them.
In the strategy implementation stage, Coca-Cola's management team puts the strategy into action by allocating resources and assigning tasks to various departments and teams. The company also communicates the strategy to employees, partners, and stakeholders to ensure that everyone is aligned and working towards the same goals.
In the strategy evaluation stage, Coca-Cola's management team monitors and assesses the progress of the strategy to determine whether it is on track to achieve the desired outcomes. If the strategy is not meeting expectations, the management team may decide to modify it in the final stage of the strategic management process, known as strategy modification. This could involve making changes to the goals, objectives, or tactics of the strategy to better align with the current business environment.
Overall, Coca-Cola's strategic management process is designed to help the company achieve its long-term goals and remain competitive in a rapidly changing market. By regularly reviewing and modifying its strategies, Coca-Cola is able to adapt to new challenges and opportunities, and maintain its position as a leader in the beverage industry.
Strategic Management Process & Analysis for Coca
If the candidate is selected Education requirements and Screening Of the PersonnelAvailable job are make public within Coca-Cola Company Human Resources department look for its data bank Selection is based on several decisive factors for various titles Aptitude test Example, for salesman Candidate is asked to turn up for an interview Candidate is asked for any references, which can make. Monetary and non-monetary rewards are used to entice a higher participation, especially from the lower level employees. To solve these problems executives and managers need planning tools that help them create and manage action plans, interact with employees about those plans and associated business strategies, and align business performance with business goals. To ensure, effectiveness of the SRM, the management of the firm should integrate Information Communication Technology ICT just like it has done with the CRM. Managers play a vital role to solve any problems of subordinates whether is is job related or personal problem. One of the ways in which Coca-Cola can implement corporate social responsibility is through works of charity.
Coca Cola's Strategic Management Process
Coca Cola can actively market its products which are less popular. In the developing and emerging world, only about 30 percent of beverage consumption is commercialized and our volume share position within that is about half of what it is in the developed world. It has been however observed that the vending machines, convenience stores and supermarkets given to the fact that they have not many alternatives, have low bargaining power. Foremost, it will send to be agreed by the General Manager of Coca-Cola Company before sending it to Human Resource department, HR. The in and out movement of goods of the warehouse, supervising drivers and supervising the transport of goods to and from the firm are controlled by Distribution Manager which is his responsibility,.
Coca Cola's Strategic Plans
With a portfolio of more than 3,300 list of product, from diet and regular sparkling beverages to still beverages such as 100 percent fruit juices and fruit drinks, waters, sports and energy drinks, teas and coffees, and milk-and soy-based beverages, Coca-Cola Company variety spans the globe. Controlling is once of the important as the organization will not substined without it. Organising is how the plan will be carried out so the goal is achieve. The degree of rivalry in the soft drink industry is very high due to the competitive nature of the industry. However, in countries like US Coca Cola buys high fructose corn syrup as its ingredient. Similarly, this provides little bargaining power to the suppliers, because losing a client such as Coca Cola, which purchases large volumes of raw materials if undesirable. In terms of outbound logistics, the corporation partners with independent bottling partners and distributors.
