Strategic Management Process CS 1 - Essay Example

Download file to see previous pages But there is a need to emphasize more on employee satisfaction in the statements. In a competitive industry like beverage industry employee is the most important part for a company along with the customers. So the company should add the benefits they are providing to the employees in the value statement. Despite that the mission, vision and value statements of the company is well structured and forward looking. Introduction In this modern world only one thing is constant- that is change. So in the world of change for matching the steps with the competitors the companies have to formulate a robust strategy for them. Every company have some short and long term objectives which they want to meet. Coca-Cola is not an exception. This paper is an attempt to analyze critically the mission, vision statements and the values of Coca-Cola using the view of the famous strategist Michael Porter. The researcher would also suggest any change needed in the statements if needed. Critical Analysis of the Mission, Vision and Values Mission Mission statement of a company describes the reason of the existence of the organizations. It also describes the value they are offering to the customers (Swales and Rogers, 1995, p.225-226). The mission statement of Coca-Cola is “To refresh the world... To inspire moments of optimism and happiness... To create value and make a difference.” (Coca-Cola Company, 2011) The mission statement of Coca-Cola is describing the reason of their existence through their first two statements and about the value creation through the 3rd statement. The statement accounts for the customers’ interest. The expectation of the shareholders’ is also met. If the company is able to meet the expectations of the customers, it can generate revenue, and the return of the shareholders will get a boost. But through this statement the interest of the other stakeholders’ like the employee expectations is not met, not also the community. Vision The vision statement of the company should focus on the future and provide a solid foundation for the organization. The vision statement doesn’t change like the objective or goal of the company, which is of short term. The vision describes the long term strategy of the company as well as the stakeholders’ importance more precisely (Lipton, 1996, p.84-86). The vision statement of Coca-Cola is as follows. “People: Be a great place to work where people are inspired to be the best they can be. Portfolio: Bring to the world a portfolio of quality beverage brands that anticipate and satisfy people's desires and needs. Partners: Nurture a winning network of customers and suppliers, together we create mutual, enduring value. Planet: Be a responsible citizen that makes a difference by helping build and support sustainable communities. Profit: Maximize long-term return to shareowners while being mindful of our overall responsibilities. Productivity: Be a highly effective, lean and fast-moving organization.” (Coca-Cola Company, 2011) The vision statement of Coca-Cola emphasizes on the interest of the stakeholders. Their long term strategy is enhancing their portfolio so that they can meet the expectations of different target customers. The corporate social responsibility factor has also been addressed by the company management ...Download file to see next pagesRead More