Report on: Coca Cola's management on innovation and change - Essay Example

It was named as the fourteenth company in the world in terms of embracing innovation. The company has an innovation management strategy that has seen it gain more acceptances and has a superior brand in beverage industry. Through its innovation strategy, the company treasures’ collaboration with the major stakeholders who know the areas to improve on and those that are missing in providing the best services and products to its customers (Elmore 2013). The Coca-Cola Company is a multinational American company that is involved in the production, retail and market of the non-alcoholic beverages syrups and concentrates.

It has its headquarters in Atlanta Georgia. The company became famous after its flagship product Coca-Cola that was invented in the year1886 by a pharmacist in Georgia Columbus(D. et al. 2012). Griggs Candler developed the Coca-Cola brand and formula in the year 1889. It incorporated the Coca-Cola Company later in the year 1892. The company has operated a franchise distribution system from that time. The syrup concentrate is only produced in the U.S.A and then sold to other bottlers all over the world who have the exclusive territory.

This has been coca-colas strategy in ensuring that they maintain the ownership of Coca-Cola formula hence it has been difficult for imitation of their products the world over (Gill 2007). Apart from its namesake the Coca-Cola beverage, Coca-Cola Company offer over 500 products across 200 countries in the world (Dhar et al. 2005). The company acquired a number of products from original manufacturers over the years hence increasing further their business empire. In addition, the products include; This was the first attempt by the Coca-Cola Company to produce diet soft drink.

To substitute sugar, the manufacturers used saccharin as its substitute. The product was introduced in the