Coca-Cola Innovation And Competitive Advantage Business Research Paper

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Business Finance

Description

Competitive advantage according to Hisrich and Kearney (2014) requires organizations to engage in six processes to maintain innovation. Organizations like Google™, Amazon, Apple®, Android, Facebook®, Siri®, Virgin Group®, Microsoft®, and eBay® have done this successfully.

Select an organization other than those listed above (other than Google™, Amazon, Apple®, Android, Facebook®, Siri®, Virgin Group®, Microsoft®, and eBay®) to explore competitive advantage and the six processes to maintain innovation discussed in Hisrich and Kearney (2014). You will also refer back to this organization for individual work purposes, later in this course.

Write a two to three page paper in which you analyze how the selected organization is meeting the concepts of Competitive Advantages as outlined in Hisrich and Kearney (2014), on page 69. Be sure to include information about the following:

  • Their organizational leadership philosophy on innovation.
  • Two activities the organization is actively engaged in to sustain competitive advantage within its industry.
  • One R&D initiative the organization is involved in for long-term competitive advantage.

Format your paper consistent with APA guidelines.


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Explanation & Answer

Hello, find the paper attached.

Running head: INNOVATION AND COMPETITIVE ADVANTAGE

Innovation and Competitive Advantage: Coca-Cola
Student’s Name
Institution
Date

1

INNOVATION AND COMPETITIVE ADVANTAGE
Innovation and Competitive Advantage: Coca-Cola
With no doubt, Coca-Cola is one of the global leading multinational transacting its
business effectively and sustainably across the globe. The company is not only renowned for its
scale but also for its commitment to innovation which cuts across multiple departments and
aspects of the company. In a brief overview of the company, it is easy to note its key areas of
focus as far as innovation is concerned; these domains entail product innovation, marketing
innovation, as well as sustainability innovation. In relation to this, Hisrich and Kearney (2014)
propose six concepts of competitive advantages that are necessary for maintaining the
competitiveness of the company. The concepts encompass, adaptation to external environmental
changes, customer orientation and focus, strategic and process flexibility that meets the needs
and diverse requirements of customers, suppliers, regulators, distributors as well as shareholders,
proactive exceeding and meeting of customer’s needs relative to existing competition, and the
last being active engagement in research and development for continuous prioritization of
development of new products and services, technologies, processes as well as markets. As such,
this discussion centers its focus on providing an in-depth analysis of how Coca-Cola applies the
concepts of Hisrich and Kearney (2014) to continuously maintain competitiveness and
dominance in the industry.
Concepts
Adaptation to external environmental changes
Adaptation to changes in external environment refers to the ability...


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