Coca Cola Company is the top leader in its industry and has a rich history with an incredible reputation for growth. The company has accomplished this through a uniform global and domestic strategy. They have used their resources to become good corporate citizens, address public affairs issues and build upon their corporate governance. An analysis of any single topic would not clearly identify a company’s strengths and weaknesses; therefore all aspects of a corporation’s framework for corporate governance, strategic management and corporate citizenship should be addressed at its core level.
Corporate Governance and Strategic Management Issues Analysis – Coca Cola Company Coca Cola Company is an extremely successful and sustainable business and has been for over one hundred years. Much of this is due to its excellence in corporate governance, its strategic planning abilities and a well-designed issues and crisis management program. The organization has developed a public relations plan that meets the needs of its many global locations. Corporate citizenship and stakeholder management is of great importance to this company and it strives to continuously transform itself as it moves into an even greater global marketplace. Introduction - History
John Pemberton founded Coca Cola in 1886 in Atlanta, Georgia; he successfully created a tasty caramel mixture which he took to a neighborhood pharmacist combining it with carbonated water. After testing the product on the local townspeople, the pharmacy decided to sell it for 5₡ a glass. Back in the early days, the average sales was only nine glasses per day; since then Coca Cola has produced over ten billion gallons of the product. Mr. Pemberton did not live long enough to reap the rewards of his creation. It would be after his demise that a salesman named Asa Griggs Candler would secure the rights to the concoction and turn Pemberton’s invention into a thriving business. The distinct company logo was created by Pemberton’s bookkeeper and has not changed since its origin. Candler was a successful salesman, but he lacked vision. When businessman Joseph Biedenharn put coke into a bottle and sent it to Candler, the response he received was not positive. Candler felt that the fountain drink was fine just the way it was; he didn’t see the advantage to a portable bottle and he wouldn’t budge on that issue. Eventually two lawyers from Chattanooga would secure bottling rights from Candler for only a dollar. Their venture paid off and Coca-Cola was on its way to the top which it remains in present day. Corporate Citizenship
Coca Cola Company has spent an enormous amount of time and money in order to be the most effective corporate citizen. They raised the bar for many competing companies. The organization has been involved in programs such as HIV/AIDS foundation, clean water projects, a fellowship with UNICEF, a partnership with the World Wildlife Fund and minority empowerment advocates. They continued to expand their social responsibility objectives by becoming members of the United Nations Global Compact (UNGC) in 2006. The UCGN brings businesses together with agencies that are concerned with human rights, labor standards, environmental issues and anti-corruption policies around the world. Coca Cola is in the transforming stage of corporate citizenship because of its visionary leadership and a continuously growing sense of social responsibility to its stakeholders. Stakeholder Management
Coca Cola realizes that they have an extremely diverse group of stakeholders which include special interest groups, shareholders, employees, suppliers, government officials, regulators and of course consumers. In Great Britain, the company has chosen to take an approach to identifying critical issues in order of importance; they have done this by stakeholder research. Listed below are the five most important issues that have been acknowledged: 1) Energy and climate change – reduce...