Coca Cola is one of the leading manufacturers of carbonated drinks. It has remained on the top position for decades. However, the carbon drinks industry is changing continuously and Coca Cola as a company has been able to implement changes in its organization through its effective leaders and managers with the help of strategic management (Coca Cola, 2011).
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Strategic management has been defined as the highest level of managerial activity. It is mostly undertaken by chief executive officer of a firm which is Coca Cola here, after the approval from board of directors. The key stages of strategic management are divided into six stages. The first stage is that the manager will assess the current position of the company in relation to the market along with its competitors and external environment. Coca Cola’s current position in the market is good but with a high existing competition from its competitors like as Pepsi Cola Company. It has been observed that those decisions that ignore the observation of where the business currently stands are mostly inappropriate or ineffective. The second key stage is that after assessing the company’s current position, its vision, objectives and mission are set. All three can be relatively new if the company has completely changed its direction or is planning to undergo a change. The third stage is taking long term decisions that will go along with the objectives that had been set. Coordinating and integrating different functions, activities and behaviors of different functional areas is the fourth stage of strategic management. Strategic decisions are mostly cross functional. Hence, all departments must work together to implement the decisions successfully. An example is when the Coca Cola decides to extend one of its product’s life like as Diet Coke. For this extension strategy, it will need input from finance, marketing and operations management. Allocating resources to make the decisions work, is the fifth stage and one of the most important stages. Strategies require that resources must be provided on time and in adequate amounts so that decisions can work. The last stage is assessing success and evaluating the overall performance of the business and the progress that it is making towards its objectives (May, 2010) A leader is a person who influences people to achieve certain goals. He is the one person who sets a clear direction for his employees and comes up with new visions when situation demands it. Certain qualities are said to make a person an effective leader. One of these is the natural ability and the desire to succeed. Being creative and thinking beyond the obvious is also included in the list along with being multi talented so as to cater to different problems. Last but not the least is having a penetrating mind so that the problem itself is recognized rather than the unnecessary details (Moniz,
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