Strategy Implementation for Coca-Cola Company - Research Paper Example

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Running head: STRATEGY IMPLEMENTATION FOR COCA-COLA COMPANY Strategy Implementation for Coca-Cola Company Insert Name         Insert Grade Course Insert 11 January 2011  Strategy Implementation for Coca-Cola Company Introduction Throughout its history, Coca-Cola Company has gradually established some of the best market brands, which customers have identified it with for a long time…
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Download file to see previous pages However, Coca-Cola Company cannot take anything for granted and ignore competition from its main rival and other increasing localized competitions. The company makes use of its key resources in the most efficient and productive way, a situation that has enabled the company to serve its customers with exceptional quality and satisfaction. As a result, the company has constantly strived to maintain growth, perform excellently, and increase shareholders’ value through constant adoption of strategic management policies, which further should be implemented effectively. Strategy Implementation Coca-Cola’s strategic management has for a long time been facilitated through resource-based strategy. Through this strategy, the company perceives its success to lie largely through effective use of key resources such as brands, systems, capital, and people (Pearce and Robinson, 2009). The understanding of the company is that, by utilizing these resources, Coca-Cola has been able to create competitive advantage and edge over its competitors. Strategic management at Coca-Cola Company remains one of the tenets the company has been able to navigate challenging environments and realize its objectives and vision. Such strategic decisions include initiating goals for fair returns on shareholders’ value and serving the community. At the same time, Coca-Cola Company has been able to realize its objectives through innovation and diversification of products to different markets around the world. Implementation of strategy in an organization is a multi-layered process that incorporates multiple strategic initiatives (Heracleous, 2003). In this way, no particular single method can be adopted to implement strategy and succeed successful. At the same time, strategy implementation in an organization should involve multi-disciplinary team guided by efficient management team. Organizational Design In order to implement a strategy more effectively, an organization cannot ignore critical aspects of organizational structure, people, culture, and control systems (Hill and Jones, 2009). A successful strategy that has ability to achieve goals and objectives set has to integrate these aspects. For example, there has to be the right people in an organization to implement the strategy, from the management perspective and employee perspective (Hill and Jones, 2009). At the same time, a supportive culture has to be in place to facilitate strategy implementation, which has to provide the right environment for the success of the strategy. Moreover, critical structures must be present to support and enhance strategy implementation (Hill and Jones, 2009). Structures are particularly effective in coordinating and ensuring goals of the strategic process are realized. Lastly, efficient systems must be present to measure the progress and success of the strategy (Hitt, Ireland and Hoskisson, 2010). The people Coca-Cola Company has a mission, which facilitates the desire of the company to provide unique refreshment to the world thorough its diversified beverages, and at the same time to inspire moments of optimisms by promoting its brands and actions, and lastly, to create unique and exceptional value in the market all the time (Coca Cola, 2011). To achieve this exemplary position, Coca-Cola Compan ...Download file to see next pagesRead More
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