Milestone Six Audiovisual Presentation

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My company is Coca-Cola and my previous assignemtns are attached.

  • Using your previous MBA coursework, create a powerpoint presentation designed to pitch your concept to potential financial backers or senior executives. Your presentation should highlight the key elements of your business concept and implementation plan that are most likely to convince your audience to support the idea moving forward. Remember that while your audience wants to know you have thoroughly researched and planned out your idea, including implementation, they do not want a verbatim or lengthy repetition of the information in the business implementation plan when you pitch the idea. Instead, you should strategically select the information you will present and in how much detail based on your intended audience. Bear in mind the key information they will want to know and the types of concerns they are likely to have, and anticipate the types of questions they are likely to ask.

    Also bear in mind that financial or managerial support for a project often has as much to do with the individuals leading the project as with the concept. Backers need to be convinced of project leaders’ and key staff’s ability to be the face and drivers of the idea, as well as of their honesty and integrity. Since you are presumably one of those faces and drivers, how you present is just as important as what you present in building audience trust. Be sure to communicate clearly and professionally throughout.

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1 Assumption and Contingency Planning Stephanie Kimber MBA- 705 October 5, 2017 2 Strategic assumptions The Coca-Cola Company holds the greatest percentage of market share in the global beverage enterprise. This important aspect brings the premise of the Zero Malt Project occupying a good percentage of market shares since the Company has already made a significant move to the marketing department. Apart from this advantage, the already available market makes the project one of the best tools in market segmentation strategy and thus capturing all consumers and their preferences. Therefore more customers are expected to try the product during the launching of the project and thus assuring a pool of consumers at the onset of the project. Coca-cola being a global company has an excellent level of resources and material power, and therefore the implementation of the project and success of each project phase is expected to take place without any failure. The revenues generated from the selling of Zero Malt products are expected to be calculated on a quarterly basis. After carefully calculating the Net Present Value the cash outflows will provide a positive value and thus bringing profit after every sale. Apart from this aspect the company aims at recruiting more IT experts, risk managers, and communication experts. These vital aspects in the project management and implementation will result in a continuous development of the project within the stipulated budget and time. The project is expected to be cost friendly and is expected to use a budget-friendly amount of capital which will be three million dollars in comparison to the other past projects which had lead to spending above the budget. This will be made possible by the availability of a very experienced labor force and project analyst who has worked with the company since its beginning. 3 Stakeholders are usually the key to implementation of any given project in an organization and with the already evident benefit from the project the stakeholders are expected to support it until its completion. This assumption will result in the easy flow of the project stages and better results of the project implementation. Hence the level of risks and potential threats will be easily managed, and in case of a negative outcome, the stakeholders will follow the already developed strategic plan. Factors that may affect the assumptions The existence of competitors who have similar ideas and products is one of the major potential threats that could lead to failure of the project implementation. Such competition may hinder the acquisition of a good market share and thus bringing loss to the company. To reduce such a threat, the company will have to produce a consumer-friendly product regarding health, beauty, and satisfaction (Mitroff & Emshoff, 1979). This may not be a threat to the project due to the actual testimonies from customers who have been satisfied by the Coca-cola products. Time is another factor that could affect the success of implementing the project. Most of the resources and assumptions made are constructed following the project plan. Failure to implement the project within the stipulated time and resources will lead to failure in the Net present value positive assumption which provides an exact acquisition of profit after a given period. Therefore time management will be a very vital aspect of this project; this will be ensured by assigning tasks accordingly, and ensuring the daily set goals and objectives are succeeded each day. The project is aimed at being the most cost-friendly, but due to the globalization aspect and market segmentation, the budgeted resources may bring more cost and thus making the 4 assumption of cost-friendly less accurate. Even though this factor may not affect the company's capital capability due to its economic power, it may lead to a sunk cost by the end of the entire project. The occurrence of such a scenario could be solved by consulting the view of stakeholders and adding extra cash to help in risk and threat management. Cross-cultural factors Ethnocentrism is an aspect which may affect the development of the project at a given point during the implementation process. Most Coca-cola products are sold worldwide, and therefore the "Zero Malt" products will require a global marketing strategy. The language barrier will pose as one of the major problems that may affect the growth of the enterprise within different cultural contexts. This will call for employment of a workforce within the environment that a business is located. Such aspect will boost the understanding of the products efficiently and provide a good relationship between the company and the customer. Apart from this aspect, there could exist other cross-cultural factors that could bring some positive or adverse effects to the project and whereby they may include significant context versus low context, nonverbal differences, and the power differences. Nonverbal communication entails the use of gestures. This kind of communication is usually different from one culture to another. Different understanding of gestures may result in confusion between the clients and the marketing force. The company should train employees following the culture of the environment they intend to set up a new branch. These factors may affect the growth and development of the overall project idea in a negative manner if the risks management does not set up a strategy to curb them in case they arise. Economic Factors 5 Among the economic factors that may affect the enterprise environment may include consumer confidence and employment. Consumers with high confidence usually tend to spend more money than those with little confidence. Since the project is embarking on new products, the confidence of the clients may be low and thus affect the economic benefit and number of customers who purchase the products (Hansen & Wernerfelt, 1989). As such boosting the client's confidence will help to bring more profit and attract more clients. Employment may be another economic factor that could affect the business environment. When there are high levels of unemployment consumers, tend to spend less and vice versa. Such an aspect may lead to the slow realization of the business goals and objectives which is a negative aspect of any enterprise. Another economic factor that may affect the business environment is the inflation. This issue is elaborated by the rate at which prices increase within the economic context. The rising cost forces businesses to raise prices on their products and services to keep up with the inflation and get some economic benefit. This aspect may affect the new product and cause consumers to make little purchases and thus rendering the venture unprofitable. Geopolitical factors The geopolitical factors may affect the enterprise on various aspects depending on the area to which the investment will take place. This entails internationally or locally. Most of these factors may include the foreign policy, climate, topography, the resources and the applied science of the region being measured (de Vivero, Mateos & del Corral, 2009). The most vital factor in this aspect may be the foreign policy which may have certain terms of implementing the 6 whole business idea. Various countries have policies that limit an enterprise such as high-interest rates and legal measures that result in high cost. How to ensure the project operates in a legally and ethically compliant environment Determining the project compliance with the rules and regulations will be determined by the policies which govern the businesses and projects of the geographical location of the enterprise. The rules and regulations include products permit, business permit, research and the project implementation practice. Apart from these aspects, the project will also require a health permit from the Institute of drugs, foods, and research to determine the effects of this product on human health. The project will comply with the best practices outlined in the Project Management Institute. The compliance of the project will follow some pillars which include compliance documentation, compliance counsel, compliance risk, compliance audit and lastly the compliance responsibilities. These pillars will lead to a lawfully and organizational recognized project. The pillars will follow a framework that will indicate every phase of the project and the strategic management plan in place in case the risks or threats occur. 7 This observance evaluation course will take steps as a gated review. Once operational, the tools will permit the interactive and interactive management of the unlike components and phases of the conformity. The compliance inspection will submit an official certificate that authorizes the project conclusion. During this stage, if there will be no rules that have been complied with, they will be documented and observed later (Küster, Ryndina & Gall, 2007). Plans for incorporating stakeholders and customers in the plan Stakeholders will hold a great part in the entire process of implementing the project. Their vast knowledge and material support will help to manage risks in case they occur and provide support on the entire business plan. The stakeholders will be involved in the process of 8 key decision-making during the project and which will not be limited to providing views regarding the project implementation process. Secondly, their expectations will be met to bring a clear picture their role in the project implementation process. Thirdly the company will create buy-in ownership to make the stakeholders part of the project. Fourthly the stakeholder's influence will be used to the advantage of the project, for example, their material support. Lastly, stakeholders will be well communicated to ensure the objectives and decisions of the project are made with their consent. Customers are the most vital tool in the entire project success as they determine the growth and profit that the project will yield after the set period. The customer's preference and choice will be given priority during the project implementation. Taking customers views and opinions during the development of the products will help to come up with a client-friendly product. Apart from this vital requirement, the customer's views regarding the products will help to determine the success of the project and the level of customer's satisfaction. Role of corporate social responsibility in the project Corporate social responsibility will help to attract more customers and develop the best customer experience and satisfaction. The project will entail a sunk cost entitled to providing education to the needy children within the business surrounding the community. Such an act will not only bring economic benefit to the society, but it will create a good name for the products of the project and thus promote its growth (McWilliams, 2000). Apart from this aspect, the aim of maintaining a good relationship with the local community will help to accumulate more customers and help in the area of cross-cultural factors. A close relationship between the project 9 implementation plan and the local community will ensure the product is widely communicated and thus reducing the cost of marketing. 10 References de Vivero, J. L. S., Mateos, J. C. R., & del Corral, D. F. (2009). Geopolitical factors of maritime policies and marine spatial planning: State, regions, and geographical planning scope. Marine Policy, 33(4), 624-634. Hansen, G. S., & Wernerfelt, B. (1989). Determinants of firm performance: The relative importance of economic and organizational factors. Strategic management journal, 10(5), 399-411. Küster, J., Ryndina, K., & Gall, H. (2007). Generation of business process models for object life cycle compliance. Business Process Management, 165-181. McWilliams, A. (2000). Corporate social responsibility. Wiley Encyclopedia of Management. Mitroff, I. I., & Emshoff, J. R. (1979). On strategic assumption-making: A dialectical approach to policy and planning. Academy of Management Review, 4(1), 1-12. Zero Malt Project Analysis Stephanie Kimber October 1, 2017 2 Zero Malt Project Analysis Introduction Coca-Cola is one of the popular companies in the world based on the number of companies it operates in and the annual revenues it enjoys from its operation in more than 200 countries across the world (Jakeman et al., 2014). The company specializes in the production of beverage drinks which has seen it control a significant market share of the total global beverage market and consequently become one of the biggest players in the soft drinks industry. In the recent years, the company has faced stiff competition from other rival companies which are so much to reduce the market dominance of Coca-Cola Company (Karnani, 2014). It is the primary objective of every firm to maximize profit subject to cost minimization and to also enhance the firm’s reputation by enhancing customers’ satisfaction. The success of a firm to achieve such objectives is highly influenced by its innovation and marketing strategies (Cross, Belich, & Rudelius, 2015). Additionally, in a more competitive industry, a firm needs to show the resilience and aggressiveness in ensuring that it endures high market competition by generating new ideas that can help foster organizational change. This paper analyzes some of the recent products introduced in the market by Coca-Cola and whether the revenues generated from these products justifies the need for the firm to continue producing them. Market Strategies Coca-Cola Company has been in the past implementing numerous ideas and marketing strategies to help increase its performance. Due to dynamics being witnessed in various major markets around the world and annual changes in consumer preference globally, the firm has opted to undertake product diversification as well as market segmentation. Product diversification refers to the process in which a firm produces new products which might not 3 necessarily be related to the main products that the firm opted to produce during its establishment (Oh, Sohl, & Rugman, 2015). On the other hand, market segmentation refers to the process in which a firm segment a market into different categories based on the market demand of the product in each group and consumer preference towards the products sold. With product diversification, a firm can always increase its operation in producing other products which it thinks are needed by consumers so as to complement the revenues it enjoys from the main products its produces. On the other hand, market segmentation enables a firm to charge prices for its products sold different based on the market features. For instance, Coca-Cola as opted to reconsider lowering the price it charges some of its beverage products being sold in African Market and Latin America since most of the consumers in these two markets are mostly poor families (Akhter et al., 2016). On the other hand, the same products are being charged relatively higher in North America and Europe due to the fact that these continents are more developed and therefore its citizens are financially stable. The Coca-Cola “Zero Malt” Project Every year, the Coca-Cola Company launches different new products to help encounter the high business completion and meet the ever-changing taste and preference of consumers around the world. In 2014, the company launched over 450 new products (Elmore, 2014). However, the recent launch of these new products is what has enabled the firm to substantially increase its market dominance in beverage drinks production. The production of these new products has proven to be a hit in the market based on the market response received from customers from different countries across the globe. The firm has however failed to capitalize on revelers who desire to have non-alcoholic drinks which can be used as substitute to alcohol drinks when revelers are having some fun in various social joints and clubs. The number of 4 individuals who don’t drink but likes to hang around with their drinking friends is significantly high and there is need for the firm to consider serving such group of customers. The Zero Malt project is designed to produce non-alcoholic drinks which such population can consume. The main reason why the above project should be implemented is because there is high number of people across the globe who would wish to consume some non-alcoholic drinks which are close substitute of alcoholic drinks. Exploiting such an opportunity would enable Coca-Cola Company to enjoy high revenue from production and marketing of these products. The following table provides a discrete budget proposal that is required for the implementation of the “Zero Malt” project. Zero Malt Proposed Budget Amount ($ ‘000) Item Total Revenue………………………………………………….3, 000,000 Expenses Raw Material…………………………………………………………….250,000 Equipment………………………………………………………………..300,000 Supplies…………………………………………………………………..200,000 Rent and Utilities…………………………………………………………150,000 Administrative Expenses…………………………………………………150,000 Salaries and Wages……………………………………………………….450,000 Total Expenses………………………………………………….1, 500,000 Project Cost and Source of Capital In the past, the core responsibility of any project manager was to ensure that the project is completed within the time stipulated and that the project implementation is within the outlined 5 budget constraints. In recent years, the scope and responsibilities expected from a project manage is becoming increasingly broader (Verzuh, 2015). This is because as most organizations tend to become increasingly project based today, project managers are forced to be financially savvy. Hence, projects are not only expected to be on time and also on budget, but must also contribute positively towards enhancing shareholder’s value and also promoting the financial success of the firm in the long-run (Mir & Pinnington, 2014). Such development therefore makes financial factor to be a key pillar on which successful project implementation is built. In order to generate enough capital to help in financing the first two phases of production of the Zero Malt drinks, this paper proposes that the shareholders be required to invest additional financial capital into the company as shares. Internal financial capital from the company’s shareholders is preferred to external borrowing from commercial banks due to the fact that it is cheap and comes with limited conditions as opposed to commercial loans. Therefore, the initial project cost of $1.5 billion required for successful implementation of this project will be generated from the company’s shareholders. Expected Revenue and Cash Flows The revenues generated from the sales of Zero Malt products are expected to be computed on quarterly basis. Hence, for the next two years on which the company will be analyzing the annual profits realized form Zero Malt products, a total of eight financial statements will be produced. The following figures are the expected cash flows from the sale of Zero Malt products across the globe for the next two years after successful implementation of the project; Time 1st Q 2nd Q 3rd Q 4th Q 5th Q 6th Q Rev.(‘$000) 3,000 4,500 6,000 8,000 9,000 11,000 7th Q 8th Q 12, 000 14,000 6 Expen(‘$000) 1,500 C.flow($’000) 1,500 2,100 2,4000 2,800 3,2000 4,000 4,000 3,000 2,600 2,000 2,000 6,000 8,400 10,000 12,000 Calculation of NPV To Assess the Viability of The Above Project The Net Present Value measures the difference between present value of expected cash inflows and the present value of cash outflows. NPV is used in capital budgeting to help determine the profitability of a given project if implemented (Asquith & Weiss, 2016). A positive NPV is an indication that the projected earnings from a given investment exceed the anticipated costs and therefore the project/investment should be undertaken. The Net Present Value NPV= Co+ C1/(1+r)^1+C2+(1+r)^2+C3(1+r)^3+………………Cn(1+r)^n Where C= Cash flow R=rate of return on capital (10%) N= Time period for each cash flow NPV= -1,500+ 1,500(1+0.10)^1+2,400(1+0.10)^2+3,200(1+0.10)^3+4,000(1+0.10)^4+6,00(1+0.10)^5+8,400(1 +0.10)^6+10,000(1+0.10)^7+12,000(1+0.10) NPV=-1,500+1650+2904+4259.2+5856+9663.06+14881.11+19487.17+25723.06 NPV=82924 Hence, the project should be implemented since its NPV is positive meaning that the project will generate positive profits if implemented. An assessment of Assets and Liabilities According to the 2015 financial report released by Coca-Cola Company, the company recorded a positive growth in revenues by almost 2 % compared to the previous year. This is an 7 indication of the continued market dominance and unquestionable loyalty of its customers who are satisfied by the quality of products produced by the company. In the 2015, financial report, the company had a total of $90 billion dollars as its assets with a corresponding $28 billion as liability (://coca-colahellenic.com). This gives the company a positive debt to asset ratio hence indicating that the Company can successfully repay the capital it owes its creditors without facing any significant decrease in its operations. In 2014, the company had $92 billion as its asset and $ 19 billion as long term debt thus showing a relative small decrease in its asset value and an increase in liabilities in 2015. However, from the net income posted in its income statement report, it is evident that the firm decision to increase its operations in other new markets and the continued desire to always develop new products may have influenced such decrease and increase in asset and liability respectively. However, with the implementation of the Zero Malt project, the firm will able to recover back the initial invested by the second year of operation that indicating that this particular project has a short payback period and should therefore be implemented. 8 References Akhter, N., Rafique, A., Rafiq, I., Bano, M., & Usman, M. (2016). Organization Structure and Firm Performance in Financial Development for Perspective in Coca Cola Beverages in Pakistan. International Review of Management and Business Research, 5(2), 494. Asquith, P., & Weiss, L. A. (2016). The Time Value of Money: Discounting and Net Present Values. Lessons in Corporate Finance: A Case Studies Approach to Financial Tools, Financial Policies, and Valuation, 287-302. Cross, J. C., Belich, T. J., & Rudelius, W. (2015). How marketing managers use market segmentation: An exploratory study. In Proceedings of the 1990 Academy of Marketing Science (AMS) Annual Conference (pp. 531-536). Springer, Cham. Elmore, B. J. (2014). Citizen Coke: The Making of Coca-Cola Capitalism. WW Norton & Company. https://coca-colahellenic.com/media/.../coca-cola-hbc_2015-integrated-annual-report.pdf Jakeman, B., Lim, S., Porcini, M., Béhar, Y., Malone, M., & Murphy-Reinhertz, N. (2014). U.S. Patent No. D716,093. Washington, DC: U.S. Patent and Trademark Office. Karnani, A. (2014). Corporate social responsibility does not avert the tragedy of the commons. Case study: Coca-Cola India. Economics, Management and Financial Markets, 9(3), 11. Mir, F. A., & Pinnington, A. H. (2014). Exploring the value of project management: linking project management performance and project success. International journal of project management, 32(2), 202-217. Oh, C. H., Sohl, T., & Rugman, A. M. (2015). Regional and product diversification and the performance of retail multinationals. Journal of International Management, 21(3), 220234. 9 Verzuh, E. (2015). The fast forward MBA in project management. John Wiley & Sons. 1 Stephanie Kimber Company and Key Personnel Institution September 19, 2017 PROJECT IMPLEMENTATION 2 Project Milestone Three The project aims to deliver support to the strategic leadership of the Coca-Cola Company in the global scale regarding its products while offering quality assurance. Initiation of the concept would guarantee the full reach of the company's products at considerable costs while allowing the organization to retain its global influence. The concept also acknowledges the quality of the products and the need to maintain relevance in the market. Regarding the implementation plan for the idea, the project for the company focuses on the application in the global setup. Nonetheless, the structuring and planning may contain challenges that prevent the successful running of the project to fruition. That said the paper provides how the concept fits within the company's core competencies, the corporate culture suitable for the project success, roles and responsibilities of the implementation team, and the contingency plan should the team require modification. Core Competencies The concept aims to be influential globally while correlating with existing relationships and, hence, the strong brand name and the extensive network of bottlers and distributors for the company will allow for the same. Likewise, the organization's adequate relationship with its dealers creates an ideal platform to establish a differentiation strategy. Similarly, the company's general relationships will ensure the project involves the collaboration of teams to improve performance through a systematic removal of waste and reduction of variation. Further, the company's divisional structure will allow for proper reactions to uncertain environments while enhancing some level of stability. The multi visional structure will allow the project manager to handle daily operations while following long-term planning. Moreover, the company includes a wide array of suppliers. Thus, establishing contractual agreements with those who have access to PROJECT IMPLEMENTATION 3 real-time data such as demand trends and expectations of future volumes for the products will ensure the project can set an adequate balance between specific needs and their supply. Corporate Culture The business culture involves an inclusive workplace culture (Bell, 2013). The culture forms an integral part of the success of the project. The company includes programs to attract, retain, and promote the development of a diverse talent of employees. Also, the strategy includes providing support systems for individuals with various backgrounds and educating all associates so that relevant people can adopt the skills necessary for achieving sustainable growth. The company strives to ensure the workplace environment is inclusive and fair to its partners, who participate in diversity training regularly. Correspondingly, ongoing dialogue provides every individual with an understanding of other colleagues as well as the suppliers and customers, among other stakeholders. The inclusive culture involves a focus on diversity, integrity, quality, collaboration, gauging of performance, accountability, and customer satisfaction. Such values create the opportunity to leverage a comprehensive engagement of individuals from diverse backgrounds and with varying talents and ideas. Consequently, the culture will ensure the sustainability of the project as it creates the ability to operate in a multicultural world. Moreover, the culture emphasizes on organization and control. Precisely, the culture involves placing a high value on relationships with external stakeholders, including customers, suppliers, and creditors of diverse backgrounds. The culture is suitable for the project as it is likely to yield excellent financial results and, hence, enhance the company's competitiveness. Conjointly, the culture is integral as it allows for adaptability and fast reactions to changes in the market, competition, and the external environment. Such results will allow for growth and expansion opportunities for the project. PROJECT IMPLEMENTATION 4 Roles and Responsibilities Project Lead The role of the leader is to coordinate the entire project to fruition and to ensure the achievement and maintenance of high morale among project team members. One responsibility involves the inculcation of team spirit, teamwork, and collaboration among members of the project. Also, the lead has the duty of improving communications and information sharing among all teams to ensure consistency in the conduct of tasks. Further, the project lead is responsible for ensuring that members obtain the relevant training to cultivate their expertise necessary to participate in the project. Moreover, the lead must initiate change management processes, collecting information for documentation and reporting to management, and obtaining funding approval. The project lead will be strictly in charge of each task and will rigorously monitor the same along the implementation course. Budget Team The group will comprise of individuals with financial skills to manage all the costs incurred by the concept. The cost manager will maintain a log of all the changes to cost that occur throughout the project for future references. In the early stages of the project, the cost manager will provide a cost breakdown structure as well as a cost curve to allow for smooth coordination of when and where the organization will incur costs. The team will work together with the project lead to identify and budget the costs for the project. Communications Team The group will comprise of individuals capable of establishing communication paths. The result will be that timely information flows freely to stakeholders throughout the project. The PROJECT IMPLEMENTATION 5 primary source of communication will be emails and meetings. The communications team leader will relay all information back to the project lead for tracking and approval. Human Resource Team The group will comprise of individuals with human resource management skills to attain and manage all staffing necessary for the project. Some of the staff will be available in-house, while others will arise from an interactive marketing firm. Staff working on the project will follow a chain of command and provide progress updates to their respective team leaders. The creation of a responsibility assignment matrix will enhance the allocation of resource responsibilities to key role players. Risk Management Team Members of the group will consist of individuals conversant with risk management to manage all the potential risks likely to occur throughout the project. Following the acceptance of the project, the team leader will immediately establish a risk register and develop a risk breakdown structure. Such actions will allow for the determination of all the potential risks facing the project. The team will collaborate with the project lead to ensure the identification of all possible risks and the establishment of a clear solution to prevent the same. Procurement Management Team Members will comprise of persons with knowledge and skills on supply management to ensure the acquisition of all materials and establishment of supplier relationships. The company's purchasing policy will guide procurement practices to ensure all purchases serve the best interest of the project tasks. The team and project lead will collaborate to ensure an accurate and timely delivery of all resources and services. PROJECT IMPLEMENTATION 6 Contingency Plans Regarding the modification of the implementation team whenever there is the need, the process will include consultations among relevant stakeholders and resource mobilization. Precisely, coordination of the company and the project team, as well as the maintenance of a particular number of suppliers and contacts for specific resources, may help address the issue (Kerzner, 2011). Similarly, early preparation of individual tasks will allow for the prioritization of resources that require a refill or replacement. Also, assuming that funds will be sustainable throughout the project disregards the fact that the implementation team may need modification, which may lead to cost increments. For example, the change of the implementation team may involve the addition of new personnel, coupled with their need for training and the creation of tools for reinforcing learning, and, hence, would create additional costs. Subsequent actions will involve cross-cultural training, the assessment of the performance of tasks against project expectations and milestones, and the development of a framework that includes the provision of change initiatives and personal and professional development (Bryson and Alston, 2011). Correspondingly, the available funds or lack of it could create the disparity between having sufficient resources to facilitate all the tasks necessary to complete the project. Mitigating the issue will involve the identification of greater ways to generate funds, including lobbying activities, donor requests, and borrowings. Such generation of funds would also enable the project team to take advantage of unforeseen opportunities. Concisely, the concept will add value to the Coca-Cola Company through the provision of relevant resources, the promotion of management and staff development, and the enhancement of critical transitions and change to the implementation team. The teams above are suitable for PROJECT IMPLEMENTATION 7 accomplishing the goal of the project, including ensuring maximum control of tasks and optimum communication activities. PROJECT IMPLEMENTATION 8 References Bell, L. (2013). The story of Coca-Cola. North Mankato, Minnesota: Smart Apple Media. Bryson, J. M., & Alston, F. K. (2011). Creating Your Strategic Plan. New York, NY: Springer. Kerzner, H. R. (2011). Strategic Planning for Project Management. Chicago, IL: John Wiley & Sons. COCA COLA COMPANY Stephanie Kimber MBA-705 September 6, 2017 Executive Summary The Coca Cola company is perceived to be the most famous trademark on the globe, and it is equally so. The company claims more than 400 brands that appeal to a wide range of individuals throughout the world. They are in a position to fulfill needs of every one of their buyers making their experience with their beverages a better one. The entity’s drinks entice a lot of people across all races, age, and gender. Coca Cola is outstanding for its overall popularity as its items are sold in over two hundred countries in the world, while major contenders like Pepsi are just available in very few countries. Such a competitive advantage has placed Coca Cola in front of all its rivals. The organization’s products are easily identified and recognized by all (Bell, 2013). The popularity of the company has made it an exceptional and unmistakable group. Due to its branding, Coca Cola has been able to do well and grow regarding revenue, a factor that will continue. The profits are key aspects have enhanced its promotion of some of the new products and their advertisements. Coca Cola as it considers the advancement of numerous different items. Multiple aspects of Coca-Cola turn out to be better than that of contenders, from corporate structure to promotional techniques. Some of this entail, implementation plan, positioning and market mix strategy. These perspectives place Coca-Cola way in front of its competitors, instilling hope to the company for higher targets and objectives. It is the organization’s primary goal to refresh and fulfill the world. It is their vision to make their products to be within reach regardless of their geographical positions. Behavioral Analysis of the Company For any organization to do well in its field, it needs to have a clear view of its client’s needs. For Coca-Cola organization to completely have this aspect clearly, they must set out on an exercise to decide the customer’s loyalty, satisfaction, and behavior. Soft beverages, unlike alcoholic, can get categorized under a low involvement group of products. It is because of it's inexpensive to purchase nature and its availability to the clients (Noe, 2013). Recent studies indicate that, lately, for one to buy a soft drink there is an in-depth decision making required. The Coca-Cola organization has made exemplary strides mainly to offer a variety of products to its clients even with the competitive nature of the market. Consumers’ choice gets based on the brand aspect in which the organization wins most customers' heart against its rivals. Even though a significant number of people deny cases to having inclination picking between Coca-Cola items or its rivals', many have a strong desire in some way. Many inclines toward Coca-Cola products since the organization has more than hundred years of history and predictable brand image. This picture is engraved in a lot of people subsequently end up purchasing their beverages. It is out rightly conspicuous in the company’s high market share in the field of soft drinks. Aside from accentuating on client behavior, consumer satisfaction likewise plays a vital role in deciding on the real revenue-boosting factors offer more priority to a business decision that ends up in customer loyalty. Studies show that the Coca Cola Company has the most exceptional reputation as far as the field of manufacturing of soft drinks is concerned. It was even granted as the fifth best in the section of most recognized bodies in the year 2013 across the globe in which its primary opponent came in at position 10. Statists additionally have it that, the phrase or the name "Coca-Cola" gets searched nearly ten times more than its first rival Pepsi. This statics is as indicated by the Google Trends. Another pointer is through the online networking. Coca-Cola has more than 89.8 million preferences against Pepsi's 34 million likes on their separate fan pages on Facebook. Indeed, even with the brand acknowledgment and high popularity, that the organization shows in the soft drinks industry, Coca-Cola organization still have its undertakings at a reasonable level crosswise over different metrics. Even with consumer-packaged commodities have no services component; most customers still prefer to purchase a package. Along these lines, consumer satisfaction for organizations in this field is an essential determinant of client loyalty. Brand Equity Brand equity or value alludes to a brand's capacity or power extracted from name recognition and most critical of all the goodwill that it has earned after some time. It translates into its business sales shooting up the rooftop consequently encountering higher net revenues against competing brands. Brand equity metrics is vital in that; it is a technique used in determining the value of the brand which incorporates a logo, name and different aspects that recognize an individual item or services (Shimp, 2013). It comes in handy in advertising, packaging, promoting and various types of marketing correspondences focal point of the relationship of the item to the customers. As far as the organization is concerned, somebody may argue out that it is not the organization's beverages that have made it an outstanding brand amongst others across the world. In any case, it is the entire advertising strategies that the firm utilizes which has influenced it to boost its recognition amongst its customers. The organization has likewise pumped resources into modern marketing techniques, for example, supporting and funding huge events, for instance, Coke Studio, Olympic Games, BET, American Idol, NASCAR, NCAA, and the NBA. These are the most watched games and programs over the world subsequently giving Coca-Cola organization a global appearance (Pride, 2017). The organization's growth is because of three fundamentals factors, industry development particularly the non-alcoholic sector is one of the examples. Recent statistics did show that CocaCola boasts of a five percent expansion in its yearly growth. However, the management shows that this sort of development is not uniform in all of all categories and markets since value increment in developing markets has declined in a previous couple of years because of the pressure heaped on proper utilization expenditures (Shimp, 2013). The second driver is the organization's growth in its shares in which it is said to have outflanked the worldwide industry in the thirty back to back quarters consequently gaining global value shares in that specific time allotment. Price realization is the third and last development factor. It is mostly considering value is enhancing cost architecture in which the organization primarily concentrates on expanding the beverage events and not just improving their soft drinks. Marketing Mix The body utilizes a few techniques for its coordinated marketing correspondences. Taking a case of a pattern in the organization's adverts which they give alternate and new information concerning the drink yet at the same time keeping up and emphasizing how incredible the drink is. These approaches get utilized by the Coca-Cola organization include; interactive marketing, direct marketing, advertisements, public relations and social marketing. It is, in this manner, therefore, that the firm makes use of broad category media platforms for purposes of advertisements. These avenues of media entail billboards, commercials and point-ofsale tools which include those merchandising materials that get used for communicating to clients via viz coolers, equipment used to sell their beverages and display racks. Lately, the organization's adverts highlighted on AdAge's incorporated one that got launched in the year 2010 named "The Happiness Machine," and another done in 2008 known as "It Mine." All have been instrumental in fueling “Coke To the side of Life Campaign" to success. Also, Coca Cola Company utilizes the strategy of direct marketing as far as integrating marketing communication is concerned. This approach involves making agreements with clubs and hotels to offer their soft drinks and beverages. Coca-Cola is additionally taking advantage of global sports and games events where they sponsor them hence using their names. With such a strategy, Coca Cola builds on to its customer database. Interactive online networking has also been another channel that the organization has used to reach to most of the clients. Along these lines, they employ the methods of "fans first" technique. By increasing its online networking appearance, the company has been able to obtain more than 91 million likes and followings on their Facebook fan page. The Enterprise played host to a campaign named #CokeGames on Facebook and Instagram in the year 2014. This sort of interactive approaches came into place because of the Olympic Games that were ongoing at that period. They additionally facilitated occasions, like, "CokeCurling" And "Speed Sipping." The organization posted on its Facebook fan page that Speed skating is fun; however, Seep shipping is delightful. With this well-crafted and innovative approach, the company boosted their brand awareness (Frey, 2014). Conclusion Looking at the pricing methodology that Coca-Cola organization took is an appropriate one. It is so since they are organized in a manner to offer its customers value for their cash. The pricing framework is crafted and has its foundation on cost. On the other hand, they are intensely and similarly anchored on demand and competition. As far as research is concerned, we get the chance to understand that the cost of creating a bottle of 18oz Coca-Cola drink is estimated to be $0.05. The organization hardly bases its beverages and soft drinks on customer’s perception and competitive frame of the brand. Along these lines, the evidence of its pricing structure lies determinedly on the cost of Coke bottles in retail shops, where customers must buy a 18oz bottle of Coke for $2.29 and in this manner 12oz container for $1.69 than more than twenty times of its original processing price. References Bell, L. (2013). The story of Coca-Cola. North Mankato, Minn.: Smart Apple Media. Frey, A. (2014). The effective marketing mix. [Hanover, N.H.]: Amos Tuck School of Business Administration. Noe, R. (2013). Human resource management. New York: McGraw-Hill/Irwin. Pride, W. (2017). Foundations of business. New York: Cengage Learning. Shimp, T. (2013). Advertising, promotion, and other aspects of integrated marketing communications. Mason, OH: South-Western Cengage Learning. Shimp, T. (2013). Advertising, promotion, and other aspects of integrated marketing communications. Mason, OH: South-Western Cengage Learning. Coca Cola Implementation Plan Stephanie Kimber MBA-750 September 16, 2017 2 Table of Contents Introduction ................................................................................................................................................... 3 Physical and technological resources ............................................................................................................ 3 Implementation schedule .............................................................................................................................. 6 Project review process .................................................................................................................................. 7 Intrapreneurship/entrepreneurship ................................................................................................................ 7 References:.................................................................................................................................................... 9 3 Introduction Coca-Cola is a popular company in the beverage sector across the entire world and ranked third as the most valuable company. The success of the company and is innovation depends on its marketing strategies, innovation and general aggressiveness in handling the issues that affect its operations. Coca-Cola has manufacturing plants in many parts of the world that make the company avail products quickly to its customers. Apart from retaining the market reputation, the company must focus on increasing its market and customer database through marketing and extensive research and innovation. The report identifies the physical and technological resources that might propel Coca-Cola to the next level and increase its customer database. Physical and technological resources Coca-Cola requires focusing improving its revenue and profitability. The company operates in at least 200 nations and customers from those regions contribute to the company’s profits. According to Fiore, (2016), the company requires a segmented revenue growth strategies depending on the type of the market. For instance, the marketing needed in the USA wouldn’t yield resources in India or Africa. The company must continue keeping the products relatively affordable to customers especially in the third world nations. The company needs funding to increase the volume of products to meet the growing demand of consumers. The developed markets require price/mix together with increasing the profitability through premium packages and small packages like aluminum bottles and glass bottles. Value creation for the customers depends on the nation, therefore customer segmentation acts as a good measure of increasing revenue. According to Fiore, (2015), the outcomes of price/mix strategy in the developed nations not only increase revenue but also the market share 4 in the industry. Coca-Cola must generate quality products and different quantities to meet the consumer demands. The company must continue investing in the business and brands thus ensuring continuity. The quality and quantity of advertising must increase. the company could set aside $ 400 million annually for advertisement and focus on ads that generate impacts. The company ought to dwell on a wide portfolio base. Strategic partnerships with other beverage companies increase their expenses but increase their presence in many regions. The company could invest in more brands. Increase the distribution of their products across the United States increases the product availability in the stores. The company requires at least $ 250 million in managing global campaigns that market its entire Coke Trademark. According to Fiore, (2016), “Taste the Feeling” marketing campaign enhances personal connections while enjoying the refreshment of Coca-Cola. The worldwide campaign makes the company broad and gives the consumers the knowledge about their new products like Coke Zero and Diet Coke. Consumers, therefore, develop more choices to the products that they may use. The company must focus on efficiency in its marketing activities. The company must invest in adequate marketing apart from raising its financial flexibility. In the long term, the growth momentum within Coca-Cola would increase, which in turn increases the productivity and efficiency while reducing the operational costs within the company. The company must stress on the “Zero-based work” that requires the budgets within the company to begin from zero level and get justified on an annual basis rather than carried 5 forward. The company must reduce its non-media marketing, for instance, in-store promotions don’t add value to the company. The company ought to focus on continuous saving and productivity across its manufacturing plants. Productivity involves a day-by-day process rather than an event which allows the company get better and leaner. Once the company generates profits, the shareholders become the first beneficiaries of the developments. Despite the variation in consumer preference and taste, the company must ensure that its production gets simple. The company doesn’t require lots of resources but improving its processes following the innovation within the supply chain and retail of beverage industry. CocaCola must empower its employees in making sure they move with speed to continue dominating the market. The company could reshape its venture and start by focusing on the operational structure and improve areas that they could work better, efficiently and smarter. The business units must directly link to the headquarters, thus eliminating the functional management. The firm must streamline most of its internal processes thus eliminate the roadblocks that barred the company from getting responsive and effective as it ought. Increasing the employee experience gives the company an opportunity to increase its productivity while making the workplace refreshing and fun. The workplace must avail resources needed to innovate and increase the learning or curiosity of the workers. Commitment must occur from the top managers to the bottom workers thus making the company a worthy place for development while meeting the customer needs. 6 Refocus the business model through increasing the brands in the portfolio with at least 500 items like tea, coffee, juice drinks, beverages, water, and dairy. Oakes, (2016) argued that the company currently has 20 brands that give them about a billion in revenues, while the rest supplement the consumer demands. The business used the opportunity and must increase the brand items so that consumers don’t miss out on anything. Implementation schedule The schedule might take two to three financial years because it’s not an event but a process that’s continuous. In the first year, the business must seek talented employees that would drive major improvements within the business. The company needs to improve its culture, systems, resources, and people. The components must work together and help the other interchangeably before change gets realized in the company. Every three months the company must assess its employees to assess gaps or lacks the right employees. Oakes, (2016) argued that the company then proceeds to announce positions for people with skills and competencies to fill those positions. The next three months after recruitment involves induction, planning, monitoring and improving their skills. The Coca-Cola requires training the workers shortly after recruitment since they must work according to the strategic plan. Apart from the time, Coca-Cola must avail financial resources that support every phase of its projects. Goals can get attained if funds drive the activities towards the goals exist. The employees need equipment needed to perform their duties. Not all funds could be availed at the start, but a clear goal must illustrate the sourcing such as banks and shares. 7 Project review process Once the strategies and techniques get implemented it's important to determine if the changes met the demands or areas that didn’t work as needed. The review must focus on areas that require improvement. The benefits of the changes indicate the efforts of Coca-Cola and its workers, and also earmark the areas that need redress. The company must indicate the lessons learned and mistakes that must not get repeated in the future projects or improvements. Coca-Cola could perform a gap analysis that determines whether the goals get attained as needed. The expected deliverables like price reduction or meeting the consumer demands. Once such gaps get identified, the company must determine appropriate methods that would allow them to close the gaps. The stakeholder satisfaction means a lot to the review process. The end user needs of the project must get met otherwise it's needless improving the areas. The impact on the consumers, for instance, increases more products on the portfolio and the consumer reception matters a lot. Intrapreneurship/entrepreneurship The company could select a team of talented workers from different departments to meet the demands of the consumers in better means. The company could allow the team to the ground and collect information on the consumers about the products that best meet their demands. The team might produce different blends of organic drinks packed in organic or reusable cans. The company must then engage in marketing the commodities and sell them affordably. The article dwells on resources that Coca-Cola needs to improve its processes to capture more customers and market their products to all over the world. The company must first eliminate in-store marketing and engage in thorough marketing which grows them. Value-based 8 ads require millions of dollars annually and the company must plan for the usage. Acquiring talented workers from different areas then letting them train and learn as they add value to the company. 9 References: Fiore, F. (2016). Write a business plan ... in no time. Indianapolis, IN: Que. Griffin, R. W. (2017). Fundamentals of management: Core concepts and applications. Boston, Mass: Houghton Mifflin. Oakes, G. (2016). Project reviews, assurance and governance. London: Routledge. Shavinina, L. V. (2013). The international handbook on innovation. Oxford: Pergamon. Wysocki, R. (2014). Project Management Process Improvement. Norwood: Artech House.
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