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BUSN3003 Entrepreneurship And Innovation

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BUSN3003 Entrepreneurship And Innovation

0 Download4 Pages / 765 Words

Course Code: BUSN3003
University: Southern Cross University

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Country: Australia

Questions:
choose any two
 

1.Which of the goals are goals of the Coca-Cola Company, and which of them may be viewed as goals and objectives of its activities?
 
2.Distinguish the Company’s goals in a long-run from its goals in a short-run.
 
3.What are the most important economic goals of the Company that may be found in presented statements?
 
4.Discuss economic and noneconomic aspects of the environmental goals of the Coca-Cola Company.
 
5.What strategic goals of the Company can be found in the statements?

Answers:

Introduction
Goal setting is a vital process in the growth of a firm since it helps in determining the progress of a firm. Goals set motivation to the business stakeholders since they assign responsibilities to be achieved in the aim of attaining a given goal. As a result, the business stakeholders work hard to realize the business goal that is business growth, a larger market share and increased business profits. Goal setting is usually accompanied by strategies to help achieve the given goal. Among the key considerations made when developing a business idea include improved financial status of a business, increasing a business market share and ways for ensuring the progress and competitiveness of a business. also, companies do develop key measures to monitor their progress.  Among the key measuring processes include the preparation of a business audit and development of swot analysis to analyze the business performance. The paper develops a study of the Coca-Cola company goals and objective of the year 2011.
1.Coca-Cola company goals and objectives of its activities
Coca-Cola Company is a beverage company that produces non-alcoholic drinks. The company is a multinational company with over 200 branches all over the world (Coca-Cola company, 2014). The company had a goal to achieve a target of $500 million in the year 2011. The company had developed an annualized estimate saving for the year to be $140- $150 million. In addition, the company had estimated its revenue from the US branch to be $300 million. In addition, the company had developed several strategies to ensure that it realizes its goal at the end of the year. Among the strategies developed by the company include cost leadership strategy. The strategy was aimed at reducing the production cost of the company (Gomez, 2012). The reduction in production would result in increased profits after the product sales since only a few deductions are made from the cost of the final product to cater to the production process. Secondly, the company has developed a unique branding for its products that resulted in an increased market in some markets including Peru. Furthermore, the company developed the quality of its product to enhance more market for its products. Through the various efforts, the company realized a 5% percentage growth over the year 2011 with 1% being realized in America branch which was far much ahead of the business goal (Coca-Cola journey press Centre, 2012).
2.Differentiation of Coca-Cola company goals in long-run and in short run
The investment of Coca-Cola company investment in research for the year 2015 has a long plan to realize new ventures for the company. The realization is developed following the identification of business opportunities from the research conducted. In addition, the research can help the company to identify expected business climate in future and develop strategies with respect to the expected future. Secondly, the use of innovative ways to develop the health of the consumers by lowering the level of calories will improve the market share of the company due to the high quality of the company products. The reduction and removal of calories in the beverages have a positive effect by improving the health of the people more so in curbing the cases of obesity. Following the health benefit involved the company products will be advised by medics for use since they are free from disease development. the quality improvement by addition of nutrients to the company beverages will increase the quality making the company more competitive in comparison to its competitors. The improvement will result in the business development and larger market share following the preference of its products.
According to a study conducted by Harvard school of public health, it was identified that in every 64 ounces of cola soda there existed up to 700 calories (Harvard school of public health, 2018). The amount has contributed to the accumulation of sugar content in the body more so resulting in obesity.  However, the company has assured to improve through funding of a research on its products. Furthermore, the company has laid down strategies to lower the number of calories in its beverages to curb the increase of obesity cases.
References
Coca-Cola company. (2014). Exploring the links between international business and poverty reduction. Oxfam America.
Coca-Cola journey press release. (2012). The coca cola company reports full year and fourth quarter 2011 results. Retrieved 09th November 2018 from https://www.coca-colacompany.com/press-centre/press-release 
Gomez, B. (2012). COCA-COLA: International business strategy for globalization. International trade and academic research conference, Vol. 3 Issue 1, pp. 155-169
Harvard school of public health. (2018). The nutrition source: Sugar drink and obesity fact sheet. Retrieved 09th November 2018  from https://www.hsph.harvard.edu/nutritionsource/ 

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