Interesting Facts Learned About the Coca-Cola Company
The analysis of the Coca-Cola Company identified a number of interesting factors about this firm. One of the appealing things learned about this organization is the culture that it has embraced as a way of promoting creativity and innovativeness. The company has been keen on enabling its workers to explore new ways of addressing their tasks based on emerging trends in the market. It was also fascinating to learn how this company is dealing with competition in the market.
Through its innovative strategies, it has managed to remain the dominant player in the beverage industry. Its brand is currently the strongest in the market, ahead of its archrival PepsiCo Inc (Hitt, Ireland, & Hoskisson, 2017). It is an indication that the firm is using the right strategies to achieve the desired level of success. It is able to monitor market trends and act accordingly in response to changing tastes and preferences of its customers.
The Most Difficult Component of the Project
The project was interesting, but it is important to note that a few challenges were encountered. One of the difficult components of this project was the inability to understand the current strategies of the Coca-Cola Company in the market. As Sindi and Roe (2017) observe, in most cases, firms hide their current marketing tactics to achieve a competitive advantage over their rivals. They do not want their competitors to understand approaches that enable them to be successful.
That explains why it was challenging to access such information. To address this difficulty, the researcher had to monitor patterns and trends taken by this firm at various times to achieve different goals. Morden (2017) explains that it is possible to determine the current strategies of a company by analyzing its past trends and monitoring its current actions. However, it is a time-consuming process.
It is necessary to explain why the identified factors were considered problematic when implementing the sustainable initiative. Hill, Jones, and Schilling (2017) explain that it may require a highly skilled analyst to investigate and understand the current strategies of a company. This is so because it will force the firm to map each of the past tactics and the problems they were solving. The pattern will explain how the firm approaches different problems that it faces in the market. The information will then be utilized to identify current challenges and specific actions of the company to determine the new strategies that it is using in the market.
How the Challenge Was Addressed
It was important to find a way of addressing this problem to ensure that the right information needed about this firm was collected, analyzed, and interpreted as would be necessary. The first step that the researcher took to address this problem was to analyze the past trends that this firm has taken to address similar challenges. Understanding how it uses creativity, innovation, and emerging technologies makes it easy to predict the current approaches used in the market.
The researcher identified the current reports, public relations messages, promotional messages, and other activities such as corporate social responsibilities to understand the current tactics of this company. The researcher used historical records of the company and its current publications to understand how it is dealing with various issues in the market. Its sponsorship programs demonstrate its commitment to promoting social welfare.
References
Hill, C., Jones, G., & Schilling, A. (2017). Strategic management theory. Boston, MA: Cengage Learning.
Hitt, M., Ireland, D., & Hoskisson, E. (2017). Strategic management: Competitiveness and globalization: Concepts and cases. Boston, MA: Cengage Learning.
Morden, T. (2017). Principles of strategic management (3rd ed.). New York, NY: Taylor & Francis Group.
Sindi, S., & Roe, M. (2017). Strategic supply chain management: The development of a diagnostic model. Cham, Switzerland: Palgrave Macmillan.