Coca Cola Mission Statement Essay

The Mission Statement is a vital component in the strategic planning of a business organization. Creating a mission is one of the first actions an organization should take. This can be a building block for an overall strategy and development of more specific functional strategies (Abrahams, 1995). By defining a mission an organization is making a statement of organizational purpose.

1. Mission and Vision Statement – Mission is a written declaration of the purpose of an organization and Vision is that business will accomplish in future years.

Ideally, a good mission statement also provides information regarding the organization’s overall management philosophy, its business model, its technical and social competencies, and its values and beliefs (Aguinis, 2009; Azaddin, 2011; Bart & Hupfer, 2004; Covin, Slevin, & Schultz, 1994). Moreover, to make mission statements of large companies more individually relevant, Azaddin (2011) advocates flexible “guiding statements” that account for the “context, culture, structure, and needs of an organization” (p. 31). Thus, a mission statement must be meaningful and applicable to all stakeholders for strategic decision-making to be effective.

Most organization have develop an element called a mission statement. A mission statement describes and helps focus the attention of organizational members and external constituents on the organization's core purpose. This is use in the criminal justice and security agency use mission statement for the success of the organization and better serve the community or businesses that they have agree to serve and protect.

Exchange rate gains or losses are brought to account in determining the net profit or loss in the period in which they arise, as are exchange gains or losses relating to cross currency swap transactions on monetary items. Exchange differences relating to hedges of specific transactions in respect of the cost of inventories or other assets, to the extent that they occur before the date of receipt, are deferred and included in the measurement of the transaction. Exchange differences relating to other hedge transactions are brought to account in determining the net profit or loss in the period in which they arise. Foreign controlled entities are considered self-sustaining. Assets and liabilities are translated by applying the rate ruling at balance date and revenue and expense items are translated at the average rate calculated for the period. Exchange rate differences are taken to the foreign currency translation reserve.

The mission statement is often publically stated and used by almost every organization today. It helps provide basic guidelines, essentially the core values of a company, and what they aim for. A mission statement gives customers

This defines what a company will do to achieve its vision. It may include the company’s functions, goals and philosophies

Coca-Cola was invented by John Pemberton the Coca-Cola Company began in 1886. With more than 1.9 billion consumers a day, in more than 200 countries, Coca-Cola is dedicated to being the world’s largest beverage company by maintaining and gaining customers. Customer preference is a core value to coke. Coke has dedicated itself to meet the thirst needs of every customer. They engage with their customers at home, restaurants, sporting events. Almost everywhere customers go, they can find a coke product. They build their top line growth and capital efficiency through investment in FIFA World Cup, “Open Happiness” global campaign, and have many worldwide partners, increasing their business nearly 5% every year by creating a diverse customer base.

The mission statement is a written document that an organization declares its core purpose. The mission statements defines the essence of the organizations needs and their core purpose of their existence. It describes the role that they play in the community and portrays the club’s image, charisma, and individuality. If the mission statement is written correctly it can provide an explanation to internal and external individuals on what the organization stands for. Some of the components that are key to the mission statement are members, product and service, market, technology and philosophy are just a few that should be in the mission statement. Without and effective mission statement to inspire your employees and members on why you exist it won’t mean anything to them. Here is an example of a mission statement from Kohl’s

Organizing the direction of a business or corporation is essential because it can increase profitability and provide broad guidelines for how to accomplish the organization goals. This is where a mission statement becomes useful. A mission statement should be short, concise, and to the point. Employees should be able to remember it and make it part of their everyday work culture.

Over 3500 products are available in more than 200 countries (The Coca Cola Company, 2013).

The Coca-Cola Company is a leader in the beverage industry with a reputable brand and strong global presence. According to the Coca-Cola Company’s mission statement and 2020 vision, some of its goals include:

The mission statement communicates to stakeholders the main activities that the company focuses on in order for it to achieve its vision. The mission statement communicates to employees’ information on how to conduct their day to day activities. The mission statements also describe the organizations, policies, culture as well as ethics (Alesia 2013).

“A Coke is a Coke, and no amount of money can get you a better Coke than the one the bum on the corner is drinking. All the Cokes are the same, and all the Cokes are good. Liz Taylor knows it, the President knows it, the bum knows it, and you know it."(Andy Warhol, 1975) Regardless of its corporate reputation, the organizational performance and its social responsibility of Coca-Cola makes it loved around the world. Ever since its creation in 1886 Coca-Cola has been a household brand known globally for generations of families. I have to mention, of all the cases researched this is my least favorite not only because of my childhood love for the product because the ethical issues in one way or another always manage to resolve themselves not before further tainting the reputation Coke worked so hard to obtain. Most times, whether an organization is innocent of an unethical act, it becomes secondary to the suspicion of the original act. Almost as if the court of public opinion has the power to ruin the reputation of an organization based on an unfounded accusation. In spite of my loyalty after having ready the case, I do believe Coca-Cola to be flawed. The contamination scare in Belgium is a great example of a public relations nightmare. The slightest hint of impurity should have pushed Coca Cola into crisis management mode but they were slow to react, citing it a minor issue (Ferrell, Fraedrich, & Ferrell, (2011). It was not until local officials

A mission statement describes the objective of a company or an organization. It shortly defines the overall goal and clarifies why the company exists (Griffin,1990). A mission statement should indicate some core points..