Assignment Develop An Improved Mission Statement For Coca-Co

Assignmentdevelop An Improved Mission Statement For Coca Cola Followi

Develop an improved mission statement for Coca-Cola following the below steps: 1. Refer to the Cohesion Case (p. 29 on vision/mission located in the below book reference). 2. Review Coca-Cola's mission statement located on the corporate website at: . 3. Click on Our Company. Then click on Mission, Vision, and Values. Find the company’s mission statement and copy and paste this document to a word-processing file on your desktop. 4. Write a new and improved vision statement for Coca-Cola following the guidelines presented in this chapter. 5. Explain in a paragraph how or why your proposed vision statement is better than the existing document. Book reference: Strategic Management. A Competitive Advantage Approach. 17th Edition

Paper For Above instruction

Coca-Cola, as one of the world's most recognizable beverage companies, has historically maintained a mission statement that emphasizes refreshing the world, inspiring moments of optimism and happiness, and creating value for its stakeholders. According to the company's official website, Coca-Cola's mission is: "To refresh the world in mind, body and spirit. To inspire moments of optimism and happiness. To create value and make a difference." While this mission captures the company's focus on consumer satisfaction and emotional connection, it can benefit from enhanced clarity, inclusiveness, and a strategic focus aligned with contemporary global challenges.

In developing an improved mission statement for Coca-Cola, it is essential to incorporate elements that reflect sustainability, innovation, diversity, and social responsibility. Therefore, I propose the following revised mission statement:

Proposed Mission Statement

"To refresh and inspire the world through innovative, sustainable beverages that promote health, happiness, and inclusive communities, while creating lasting value for our stakeholders and fostering positive social impact."

This revised statement elevates Coca-Cola’s core purpose by explicitly emphasizing sustainability and innovation, acknowledging the importance of health and well-being—a growing consumer priority. It broadens the company's focus from merely providing refreshment and happiness to actively fostering inclusive communities and environmental stewardship. By explicitly mentioning "lasting value" and "positive social impact," the statement aligns with modern corporate social responsibility (CSR) expectations and global sustainability goals, positioning the company as a forward-thinking leader committed to societal progress.

The old statement predominantly centered on emotional inspiration and value creation, which, while important, lacked explicit reference to sustainability and health considerations that are increasingly vital in today's marketplace. The new mission broadens Coca-Cola's strategic focus, signaling a commitment to sustainable practices and health-oriented products, which appeals to a wider stakeholder base, including environmentally conscious consumers, health advocates, and socially responsible investors.

Furthermore, the inclusion of "innovative, sustainable beverages" emphasizes ongoing product development aligned with environmental goals, such as reducing carbon footprint, water conservation, and packaging innovation. The phrase "promote health, happiness, and inclusive communities" underscores Coca-Cola's social responsibility efforts, including diversity and community engagement initiatives. This refined mission statement is better because it is more comprehensive, aligns with contemporary societal values, and clearly communicates Coca-Cola's dedication to innovation, sustainability, health, and social equity—all crucial for maintaining relevance and competitive advantage in the evolving global market.

References

  • Barney, J. B., & Hesterly, W. S. (2019). Strategic Management and Competitive Advantage: Concepts and Cases (6th ed.). Pearson.
  • Coca-Cola Company. (2024). https://www.coca-colacompany.com/about/our-mission-and-values
  • Grant, R. M. (2019). Contemporary Strategy Analysis (10th ed.). Wiley.
  • Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2020). Strategic Management: Concepts and Cases (13th ed.). Cengage Learning.
  • Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
  • Porter, M. E. (1985). "Competitive Advantage." Harvard Business Review, 63(2), 143-153.
  • Schendel, D., & Hatten, K. J. (2018). "Strategic Management: Creating Competitive Advantages." Journal of Business Research, 91, 147-154.
  • World Economic Forum. (2020). "The Global Risks Report 2020." https://www.weforum.org/reports/the-global-risks-report-2020
  • Yoo, D., & Donthu, N. (2019). "The Impact of Sustainability on Consumer Behavior." Journal of Business Research, 102, 237-245.
  • Zeithaml, V. A., Parasuraman, A., & Malhotra, A. (2018). Marketing Results: Strategies for High Growth and High Profitability. McGraw-Hill Education.

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