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Business Question

Business Question

125 word each with references

One: An organization must be transparent to its customer base. Attempting to reach out to a base demographic is essential in today’s business environment. Stakeholders are continually looking to maintain demographics while trying to expand the consumer base. Companies in the United States who have sales in the billions understand that a mission statement is crucial for continued success. Coca-Cola has a vast demographic to please while attempting to appease those outside its demographic reach. By utilizing a formal mission statement and vision, the soda company is attempting to expand itself in the consumers’ adapting market. Coca-Cola needs to understand how its mission statement is successful amongst its demographic and fails outside the target audience.

A mission statement is a vital communication narrative from an organization to the consumer. The statement gives credence to the organization’s actions and why they are in business. The mission statement is not a new notion or tool; it has been used for multiple decades by successful entities to communicate to the base and potential demographics. The mission statement contains five essential elements of an organization, “concern for stakeholders, orientation towards stability, orientation towards cooperation and innovation, and development and growth” (Babnik et al., 2013, p. 1). A statement is a tool for the stakeholders and all leadership in the organization to expound on the philosophy and extended core values that consumers need to know.

Coca-Cola is a large organization that produces a considerable amount of beverages on a global scale. The organization’s main headquarters is in the United States and operates in over 200 countries, resulting in over 20 billion dollars (David & David, 2019). With these metrics in mind, Coca-Cola must construct a mission statement that delivers the five essential elements that communicate to the demographic and potential new consumers. The mission statement reads:

  • “To Refresh the world mind, body, and spirit. To inspire moments of optimism and happiness through our brands and actions. To create value and make a difference”. (Cuofano, 2018, para. 3)”.

Coca-Cola is a billion-dollar entity that is an international giant in the refreshment industry. It stands to reason that highly professional experts created this mission statement; however, I feel like the statement can be improved given my interpretation of the company and the essential elements.

Coca-Cola’s web page lists its company’s vision. The soda company’s vision is a standard narrative that establishes the beverage as positive for the consumer to drink. There are keywords in the vision, such as “body & spirit” (Coca-Cola, 2021, para. 2). There is also an insert about the company trying to make a difference on a global scale, referencing a cleaner planet. Coca-Cola is attempting to portray itself as a positive product for people and the environment; at least, this is my interpretation. Using standard health conscientious verbiage is a method to draw in outside demographics.

My biggest issue with Coca-Cola’s mission statement and vision is brand hypocrisy. According to Guevremont (2017), there is a 12-item scale in which consumers identify hypocrisy in a brand and organization; this includes a mission statement. One of these metrics in the 12-item scale is mission hypocrisy, which is an organization having a harmful impact on the consumer. Information is increasingly obtainable today more than ever; it is vastly known that sugary drinks that Coca-Cola produces are unhealthy. The Center for Disease Control and Prevention (CDC, 2020) lists sugary drinks as the leading cause of fatal diseases such as diabetes and heart disease. The additional plastic from the soda bottles on the globe is not environmentally friendly. The mission statement discusses making a difference, optimism, and happiness; this is not the direct effect the drink has on millions of Americans.

The United States is increasingly informed on health and leading medical issues. Sugary drinks such as Coca-Cola are well-documented not to provide long-lasting happiness and optimism; instead, the mission statement should focus on the drink’s acute and superior taste. They should stray away from words that are most associated with robust health, such as mind, soul, and happiness. A new mission statement should be as follows:

  • To supply the globe with the superior taste of Coca-Cola. We aim to maintain and expand the number of people who enjoy our products for generations to come.

This enhanced mission statement does not provide the informed consumer hypocrisy on health-related quips. It informs the consumer that Coca-Cola is a global product, it has superior taste, and the organization plans to be in business for generations. This new mission statement focuses on the actual product itself and disassociates with health in a self-aware manner.

V/R,

Steven Flores

References

Babnik, K., & Breznik, K., & Dermol, V., & Sirca, N. (2013). The mission statement: organizational culture perspective. Retrieved from https://www-proquest-com.saintleo.idm.oclc.org/docview/1520633766/fulltextPDF/BEC6AEADB0734A09PQ/1?accountid=4870

Center for Disease Control and Prevention (2020). Get the facts: Sugar-sweetened beverages and consumption. Retrieved from https://www.cdc.gov/nutrition/data-statistics/sugar-sweetened-beverages-intake.html

Coca-Cola Company (2021). Purpose and vision. Retrieved from https://www.coca-colacompany.com/company/purpose-and-vision

Cuofano, G. (2019). Coca-Cola mission statement and vision statement. Retrieved from https://fourweekmba.com/coca-cola-vision-statement-mission-statement/

David, F. R., & David, F. R. (2019). Strategic management: a competitive advantage approach, concepts and cases (17th ed.). Upper Saddle River: Pearson.

Guevremont, A. (2017). Brand hypocrisy from a consumer perspective: scale development and validation. Retrieved from https://www-proquest-com.saintleo.idm.oclc.org/docview/2285016124/fulltextPDF/5B36A0AAE1E74194PQ/1?accountid=4870

two: Nearly every large organization and business has some type of mission statement. Mission, visions, and values are all essential aspects for running a business effectively. The mission statement can be defined as a statement of purpose that distinguishes one business from another (David et al., 2019). The mission statement’s responsibility is to store a business’s foundation for strategies, plans, and work assignments. Mission statements are a strategic tool used by many businesses to communicate the core of the business to internal and external stakeholders.

A mission statement can be a powerful tool. However, its usefulness depends on a number of varying factors. Out text identifies several characteristics of a mission statement. A great mission statement must clearly define what the organization is, be limited but broad, distinguishable, serve as a framework for current and prospective activities, and be clearly and widely understood throughout the organization (David et al., 2019). Many companies allocate resources to strategically create, review, and manage their mission statements.

Coca-Cola Company’s Mission Statement

Coca-Cola Company is a carbonated beverage company, offering over 500 brands in more than 200 countries and territories (Coca-Cola, 2021). Mission statements should identify the value of a company’s products to its customers (David et al., 2019). Coca-Cola’s mission statement aims to declare the company’s purpose. Currently, the company’s mission statement is “to refresh the world, to inspire moments of optimism and happiness, and to create value and make a difference” (Coca-Cola, 2021). The company has a reputation of making a difference in the lives of individuals and in the community, while also offering customers a refreshing product. The company also aligns its core values with the mission statement and vision in support of the mission.

Analysis & Recommendations

Companies that develop and systematically revisit their mission and vision statements typically endure great benefits (David et al., 2019). There are many factors to consider when looking at Coca-Cola’s mission statement. The company’s current mission statement does not currently reflect a beverage company at first glance. However, it does check the boxes for having the characteristics of a successful mission statement. The statement is limited in scope and can be widely understood throughout the organization. Additionally, the statement aims to be inspiring using words such as “happiness” and “optimism”.

A successful mission statement must also have emphasis on customers, products, markets, technology, concern for survival, growth, profitability, philosophy, distinctive competence, concern for public image, and concern for employees (David et al., p. 51). Currently, there is no indication of who the customers are or what the products are. Also, the statement doesn’t currently reflect how the product could provide value to the customer. After reviewing the company’s current mission and applying the techniques identified in our text, a revised mission statement was constructed to better reflect the objectives of the company and the customer’s they serve:

“To deliver happiness and inspiration to every person around the world by providing the best refreshing beverages”.

The revised mission statement reflects the company’s customers around the world as well as the product they provide. Also, the company’s purpose to deliver happiness to customers is still reflected. The company’s use of the word “refresh” has greater meaning when ties to its product. Lastly, the mission statement is simple, concise and reiterates that the company is a global product. With this recommendation for a revised mission statement, Coca-Cola could find its able to connect with customers, employees, and stakeholders in a different way.

References

Coca-Cola Company. (2021). Purpose & company vision | The Coca-Cola Company. The Coca-Cola Company: Refresh the World. Make a Difference. https://www.coca-colacompany.com/company/purpose-and-vision

David, F., David, M. E., & David, F. (2019). Strategic management: a competitive advantage approach, concepts and cases (17th ed.). Upper Saddle River: Pearson.

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