Cocacola Strategic Management

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INTRODUCTION

A global perspective is a matter of survival for businesses. Strategic management is the process of specifying an organization's objectives, developing policies and plans to achieve these objectives, and allocating resources so as to implement the plans. The Coca-Cola Company (Coca-Cola) is a leading manufacturer, distributor and marketer of Non-alcoholic beverage concentrates and syrups, in the world. The company owns or licenses more than 400 brands, including diet and light beverages, waters, juice and juice drinks, teas, coffees, and energy and sports drinks. The company operates in more than 200 countries. Coca-Cola Enterprises is the world's largest marketer, producer and distributor of Coca-Cola products. It operates in 46 U.S. states and Canada, and is the exclusive Coca-Cola bottler for all of Belgium, continental France, Great Britain, Luxembourg, Monaco and the Netherlands. Coca-Cola is the non alcoholic bottled beverages.

Definition of Strategic Management

Strategic management is the process of specifying an organization's objectives, developing policies and plans to achieve these objectives, and allocating resources so as to implement the plans. It is the highest level of managerial activity, usually performed by the company's Chief Executive Officer (CEO) and executive team. It provides overall direction to the whole enterprise.

International strategic management is a comprehensive and ongoing management planning process aimed at formulating and implementing strategies that enable a firm to complete effectively internationally. The process of developing a particular international strategy is often referred to as strategic planning. Strategic Management is the study of function and responsibilities of senior management.

Five Essential Parts of Strategic Management

Goal-setting
Goal-setting enables a firm to articulate its vision: identify what needs to be accomplished, define short-and long-term objectives, and relate them to what the organization needs to do.

Analysis

Analysis guides to collect and consider information so that a firm understands the situation. Assess external environments and internal situations to identify the strengths and weakness of the organization and the opportunities and threats face to reach the goals.

Strategy Formulation

To determine a strategy, the firm reflects prioritize, develop options, and make decisions. Review the results of the analysis, identify the issues that a firm implementing partners need to address, and prioritize them in terms of their urgency and magnitude. Use these results to design alternative strategies and plans that address the key strategic issues.

Strategy Implementation

To implement the strategy, assemble the necessary resources and apply them. Put the chosen plans into practice, marshal the resources and commitments necessary for moving ahead, tap existing capacity and/or build new capacity, and seek to achieve results.

Strategy Monitoring

Monitoring allows checking the progress toward achieving the firm’s goals and assessing whether any changes in the environment necessitate alternatives to the firm’s strategy. Modify plans and actions to adjust to the impact of changing in the operating environment.

COMPANY OVERVIEW
The Coca-Cola Company (Coca-Cola) is a leading manufacturer, distributor and marketer of Non-alcoholic beverage concentrates and syrups, in the world. The company owns or licenses more than 400 brands, including diet and light beverages, waters, juice and juice drinks, teas, coffees, and energy and sports drinks. The company operates in more than 200 countries. Approximately 74% of its products are sold outside of the US. The company is headquartered in Atlanta, Georgia and employs 71,000 people as of September 2006.The company recorded revenues of $24,088 million during the fiscal year ended December 2006, an increase of 4.3% over 2005. The increase in revenue was...
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