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This essay explores the mission, vision, and values of the Coca-Cola company and assesses whether those values are upheld by the business. The report will also examine the relationship between the company's economic success and its strategic goals as it relates to its financial performance. To identify Coca-advantages Cola's and weaknesses, an economic and marketing analysis will be done. This essay will also examine if the mission, vision, and values statements of the business maximize the company's return to shareholders. To determine whether it aligns with the business's successful strategy, a comparison of what makes a strong Mission, Vision, and Value statement will be used. A step by step evaluation of Coca-Cola's Mission and Vision statement will be done to determine whether they guide the actions of the organization, spell out the overall goal, provide a sense of direction and guide in decision-making.
The Mission statement
Coca-Cola’s Mission statement is a representation of the company's goal which is to refresh the world with its brands and stir moments of pleasure. A well-crafted Mission statement serves as a bridge to single out what is essential from what is not, identify which market to be attended to and communicate a sense of direction to the whole business. Coca-Cola’s Mission statement highlights the sole purpose of the organization but does not point out its target market or the survival mechanism the firm intends to incorporate to beat its competitors. Coca-Cola’s Mission statement should reflect the company’s strategic planning process, define the fundamental, distinctive purpose that sets it apart from other firms.
Five criteria that comprise quality Mission statements
Mission statements expound on “How” a company intends to serve its customers. Coca-Cola’s Mission statement defines its intention, which is to quench its customers' thirst and keep them entertained. However, the firm did not indicate the technology or tools it intends to use and its target market. Well stated Mission statements gear towards the who, what and how the organization will be more customer and market-oriented (Kerin & Hartley, 2017).
Secondly, Coca-Cola’s Mission statement does not point out who its consumers are (Thompson, Strickland & Gamble, 2006). By defining the “Who” factor, the company describes the target group it wishes to serve. Customer groups are an essential element in business because they segment the target market in a wide range of factors including age and geographic location.
A comprehensive Mission statement should be informative but straightforward and should convey the goal of the business. Coca-Cola’s three Mission statements highlight the purpose of the company, which is to energize, inspire moments of optimism and creates value. However, what is not clear is what the company’s products are that will contribute to the Mission statements as mentioned above.
Coca-Cola’s Mission statement does not symbolize distinctive competencies. According to Kotler (2014), unique skills define an organization’s strength that provides the foundation from which the business will grow, grab new opportunities and deliver value to customers. In its Mission statement, Coca-Cola has not mentioned how it will serve its customers, benefits the company gives to its employees, new products launch, and its performance strategy that distinguishes it from its competitors. A unique Mission statement needs to stay focused on specific traits (i.e., quality, customer service) and target or niche markets (Thompson, Strickland & Gamble, 2006).
Finally, a good Mission statement should highlight what feeling you intend to leave your consumers. Coca-Cola plainly indicated what in the end they aim at achieving with its brands. The company has stated that it seeks to keep its consumers refreshed, give them a moment of a lifetime and make a difference through its brands.
The Vision statement
Coca-Cola’s Vision statement, on the other hand, represents the long-term goals of the company. The seven P’s in the Vision statements indicate the plans of the business, the course it is headed, the consumer focus it has, the market position it is currently occupying, the business activities it is pursuing and the strategies it plans to develop. The Vision statement of an organization gives it a sense of direction and describes what kind of entity the company is looking forward to becoming.
Five criteria that comprise quality Vision statements
Coca-Cola’s Vision statement depicts an image of what the business will look like a decade later. The company focuses on becoming one of the efficient and fast-moving company. The image of an organization signifies a dream that seems impossible and aims at defining the company's long-term goals.
Secondly, Coca-Cola’s Vision highlights which direction the company is leaning towards, the customer focus it has and the long-term plan to identify and occupy the niche in the market.
Thirdly, a good Vision statement should be purpose driven and should give employees a sense of belonging. Coca-Cola’s first Vision statement leans towards people. The company strives to provide a good environment for both its employees and consumers.
One of Coca-Cola’s Vision statement is “Profit.” The company has mentioned how it aims at maximizing its profit while at the same time bearing in mind the implications.
In conclusion, Coca-Cola Vision statement motivates and engages people. It creates a vivid image in people’s heads that aggravates emotion and excitement.
Coca-Cola Company Mission statement
Coca-Cola has highlighted its mission statement in three small lines: “To refresh the world.” This part focused on the company's brands, but it is not clear what they are meant to fulfill. “To inspire moments of optimism and happiness.” This second phrase makes sense. It outlines how Coca-Cola makes positive value. “To create value and make a difference.” This Mission statement is about creating a value and making a difference. However, several things are not clear from the Mission statement of Coca-Cola. First, it is not clear who its consumers are. Second, it is not clear what its products are. Thirdly, the company’s survival plan, growth and target levels does not reflect in the Mission statement. A strong mission statement focuses on what the firm does, for whom, and how.
Coca-Cola Company Vision statement
Contrary to its Mission statement, the Vision statement of Coca-Cola is far more comprehensive and well laid down. The six P’s in its mission statement outline its everyday decisions of the company. It describes what the firm needs to do to achieve viable and quality growth. The first P is the “People.” Coca Cola’s primary concern is the people. These people comprise both its employees and consumers in general. Coca-Cola aspires to be a great workplace where the people can be the best that they can be.
The second P stands for its product “Portfolio.” The company prides itself in the manufacture of various beverage brands that fulfill people’s needs. The third P is for “Partnership.” Coca-Cola considers both consumer and suppliers’ partners. Suppliers are an essential part of an entity since they make sure a company operates as it should. The fourth P is “Planet” and the preservation of the environment.
Coca-Cola attempts to be a responsible earth citizen, and for it, the brand supports sustainable communities that work to preserve earth’s atmosphere. The fifth and the sixth P’s indicates how the business aims at maximizing its profits. Coca Cola’s Vision statements do not outline the future but still, makes clear how the brand is steering towards a beautiful future.
Coca-Cola defines its values as a compass for its actions and describes how it behaves in the world. There are seven fundamental values for Coca-Cola that they pride themselves in. The first one is Leadership. Leadership gives the nerve to work in the direction of and shape a better future; a future that is good for the planet. Secondly, Collaboration that aims at igniting a force for development and continued success in the business. Integrity and Accountability are Coca-Cola's core principles that the company is laid on. To succeed in business, you have to be passionate and optimistic. Coca-Cola's fifth value is "Passion" which means the commitment of heart and mind, no confusion. Finally, Diversity and Quality say a handful about the brand. Coca-Cola believes in being as diverse as its consumer base is and delivering quality which means what it does, it does well.
Kerin, R., & Hartley, S. (2017). Marketing. Dubuque: McGraw-Hill Education. Vision Statements.
Kotler, P. (2014). Kotler on marketing. [Place of publication not identified]: Free Press.
Thompson, A., Strickland, A., & Gamble, J. (2006). Strategic management. Maidenhead: McGraw-Hill Education.
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