Coca-Cola and Innovation Essay Example | Topics and Well Written Essays - 1500 words

Coca-Cola and Innovation - Essay Example Coke is giving more emphasize to sustainable development and they are doing everything possible to preserve the environment in which it operates. According to Jeff Seabright, The Coca-Cola Company's vice president of environment and water resources, â€Å"sustainability begins with the simple act of paying attention. You can't manage what you can't measure"(Making Sustainability the Real Thing). This paper briefly analyses the innovation at Coca Cola which helped them to maintain their top spot unchallenged for a longer period. In May, 1886, Coca Cola was invented by Doctor John Pemberton a pharmacist from Atlanta, Georgia. John Pemberton concocted the Coca Cola formula in a three legged brass kettle in his backyard. The name was a suggestion given by John Pemberton's bookkeeper Frank Robinson†. On April 23, 1985, the trade secret "New Coke" formula was released. Today, products of the Coca Cola Company are consumed at the rate of more than one billion drinks per day (Bellis) Today, Coca Cola is the largest non-alcoholic beverage company in the world. It has more than 300 worldwide bottling partners at present which are working together with Coca-Cola to ensure success. Coke’s trademark is recognized by more than 94% of the world’s population at present. ... ked its employees â€Å"to think about what kind of growth would be possible in a market, and to figure out how to knock down the barriers to attain that growth instead of setting goals in the traditional style† (Strategic Leadership at Coca Cola: The Real Thing, p.6). â€Å"Ivester was known to be a CEO who communicated with people at all levels and ignored hierarchy† (Strategic Leadership at Coca Cola: The Real Thing, p.7). Ivestor tried to reduce the gap between top management and ordinary workers. He has realized that keeping normal workers away from decision making process may adversely affect the interests of the company and he started to accept suggestions and opinions from the employees even at the lower levels. This innovative strategy in management brought dividends to the organization. Coca Cola employees started to feel more sincerity towards their company and they started to witness Coke as their own company. The increased loyalty of the workers towards the company resulted in increased productivity. Daft, the successor of Ivestor also contributed heavily to the development of Coke company. â€Å"Whereas Ivester’s mantra had been Think global - act local, Daft’s vision leaned more toward Think local - act local† (Strategic Leadership at Coca Cola: The Real Thing, p.10). Daft realized the importance of localization of business more than Ivestor. Ivestor has tried to implement unique business strategies all over the world since he thought that same product needs same marketing strategies everywhere. However, Daft recognized the necessities of different marketing strategies across different cultures or countries. He tried to implement different business strategies for each market, rather than trying to implement a unique business strategy all over the world.