The Coca-Cola Company is a multinational beverage company that manufactures, distributes, and markets alcoholic beverages and non-alcoholic beverages, concentrates, and syrups. The company has been in existence since 1892 and has grown to become the world’s largest maker of sugar-sweetened beverages with a franchise system of over 250 companies. The Coca-Cola Company’s rise to the global stage can be attributed to its mission, vision statements, and core values. The company’s vision statement reads, “Inspiring each other to be the best we can be by providing a great place to work.” A SMART analysis of The Coca-Cola Company’s vision statement is needed to examine how effective the vision statement has been in reaching and influencing the audience.
Situation
Although The Coca-Cola Company is the largest soft-drink manufacturer globally, it faces stiff competition from other market players. The company’s top competitors include PepsiCo, Red Bull, Monster Beverage, Keurig Dr. Pepper, and Tetra Pak. Among these, the biggest and closest competitor to the Coca-Cola Company is PepsiCo, which boasts of manufacturing facilities within the same markets that the Coca-Cola Company maintains its presence. PepsiCo offers a broader range of beverage products and an almost identical value proposition to the market. PepsiCo and the other competing companies are a significant threat to the Coca-Cola Company since they offer the same products they provide to the market.
The stiff competition faced by The Coca-Cola Company obligates it to do everything to maintain its edge over the competing companies. The company came up with a strong vision statement that bonds it with stakeholders and the market. The vision statement reveals the leadership aspect of the company and its commitment to change and development within the industry. The vision statement defines its purpose and what it aspires to achieve. By sharing its vision statement, the company wishes to explain why it exists and its value on its partners. Therefore, the company uses its vision statement to appeal to its stakeholders and customers to join the company in its journey to success.
Message
By relaying its vision statement, there is a specific message The Coca-Cola Company wishes to pass across to its employees, stakeholders, and market. The company’s vision statement has three points in its message: to inspire others, to be the best, and to nurture a great workplace.
The Coca-Cola Company portrays itself as a company founded on the virtue of uplifting others. The company places people at the center of everything it does, including employees, stakeholders, and the community (The Coca-Cola Company, n.d). The spirit of uplifting others is shown in its push for harmonious relationships among its employees and stakeholders. The company works with communities and investors to create a positive impact.
To be the best, the company continues to expand and improve its products. The company boasts some of the most innovative new products available in the market. The Coca-Cola Company places more emphasis on its brand than its products. Rather than selling the drink in a bottle, the company sells happiness in a bottle (The Coca-Cola Company, n.d). The company carries out outreach programs intending to inspire the communities, employees, customers, stakeholders, and other companies in the industry. The company takes pride in its employees. As a result, the company strives to create an accommodative environment that embraces every employee irrespective of their differences. Among the company’s primary goals is to promote the spirit of togetherness and growth within its workforce. The Coca-Cola Company aspires to become an ideal workplace for any prospective employee globally.
Audience
The Coca-Cola Company had four audiences when it was formulating its vision statement: The employees, customers, stakeholders, and the community. The company retaliates its commitment to an ideal workplace for all its employees. As of 2019, the company boasted of about 80,300 people working for the company globally (Ridder, 2022). The company recognizes these employees’ contribution to its growth and success in the beverage industry. Therefore, the company strives to create an environment where each employee feels respected and valued. In its vision lies the company’s commitment to promoting both its employees’ personal and professional growth.
The Coca-Cola Company commits itself to customer satisfaction. In its message to the customers, the company assures them of its vision to be the best in the market by delivering innovative products to the market and inspiring the customers. The company strives to promote consumer choice through the varied range of beverage flavors it has in the market. On its commitment to its stakeholders, The Coca-Cola Company seeks to maximize long-term profits while cognizant of its overall responsibility in business. The company is constantly partnering with investors, whom it considers an integral part of the corporation. The Coca-Cola Company is aware that the community greatly influences its success. Consequently, the company commits itself to build sustainable communities through its outreach programs.
Response
The Coca-Cola Company has different expectations of its stakeholders. The company expects its employees and stakeholders to work together and create harmonious relationships for the good of the company and community. Employees are required to work towards excellence through personal and professional growth. The company hopes to work with its employees and stakeholders to positively impact the community. The company hopes for the customers to be inspired enough to remain loyal. The company strives to draw more consumers into its market through its innovative products. By sharing its vision, the company hopes that all its employees, stakeholders, customers, and the community shall own that vision and be part of the company’s journey towards success.
Tools
The Coca-Cola Company uses different channels to share its vision with the audience, including published, oral, and visual media. Published media includes the internet, newspapers, journals, and magazines. The company maintains a substantial online presence with an interactive social media platform and a website that gives customers and prospective consumers and opportunity to learn about the company’s vision. The company also pays for advertisements on print media such as magazines, journals, and newspapers. Alternatively, the company shares its vision statement with the audience on oral and visual platforms such as television, posters, radio, billboards, and cinema. The various communication tools ensure that the company maintains contact with its diverse audience from every corner of the globe.
Conclusion
The Coca-Cola Company’s vision statement reflects its goal for development in the industry. The company has managed to create a brief but relatable vision statement that significantly impacts the audience. The simplicity of the vision statement makes it easy for the audience to remember it. The vision statement has clearly stated the company’s purpose. The vision statement has made the audience feel part of the company by highlighting the nature of their partnership with the company.
