Q1.Business Week identified Coca-Cola as having perhaps the most valuable brand

Question

Q1.Business Week identified Coca-Cola as having perhaps the most valuable brand name in the world. analyze their mission statement. To what degree does the mission statement drive or reinforce the brand value? Do you believe that it is a "best in class" example of a mission statement?

Mission ,

Mission Everything we do is inspired by our enduring mission:

· To Refresh the World... in body, mind, and spirit.

· To Inspire Moments of Optimism... through our brands and our actions.

To Create Value and Make a Difference... everywhere we engage.

Explanation / Answer

The foundation of Coca Cola’s mission statement is
To refresh the world in body, spirit and mind. This focuses on market, customer and philosophy.
For inspiration of optimistic moments through actions and brands- The focus is on products.
There is also focus on the creation of value and making a difference which is a self-concept.
The mission statement of Coca-Cola is customer oriented. It is flexible and enduring which revolves around the six Ps. This includes People which states it is a great place to work, brings the portfolio of beverage brands and satisfied desires and needs of people. It nurtures a winning network of customers and suppliers. The planet is another P which focuses on building sustainable communities. Profit is included as long-term return along with productivity.
The vision focuses on customers, products, markets of the firm and there is the focus on survival, philosophy, self-concept, the requirement for public image and employees. The seen values included are leadership, collaboration, integrity, accountability, passion, quality and diversity.
The mission of Coca-Cola needs to have coherence with few values mentioned separately and communicate the ‘reason for being’ to its stakeholders.
The analysis of the vision of Coca-cola reveals that there is the focus of the company for an achievement of something novel in future consisting of sustainability, quality and growth. The use of six variables including planet, profit, productivity, portfolio partners and people will be used for achievement of better quality and growth.
Self-concept, customers and philosophy are included in the mission statement along with a focus on products and services and market, It consists of five components out of nine.

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.