Element of business
Business functions and operations can be defined on a basis on relevant rationale within which an establishment is projected through specific operational models. In order to enhance business success, important attributes need to be out into consideration through major enhancement of integrating the required reasoning and well guided measures in the overall business structure. In this analysis, we discuss the ideal business elements and how they are relevant in a business and its overall performance levels.
Basic legal, social and economic environments
For any organizations to function in a state it has to confine to the countries laws and regulations. For a multi-national company such as the Coca Cola it has to agree with the terms and condition set by the government of their operational country (Greenberg et al, 2009). The regulation and setting of these basic laws may not only be set by the government of the country but the community also plays a role in the setting up of some of the basic legal requirements. The disposal of waste from the companies is one of the major basic legal that is set up by the government. However the community can also play a role in ensuring that it benefits from the organization. The governments of most countries have set policies that companies and other organizations should have to employ at least more than seventy percent of its workers from the locals of the country (Burdescu, 2009).
Social Obligation and Marketing Ethics
When publicizing of violates one of the rudimentary monetary expectations is to underway the definition, therefore a number of counteractive actions is needed to help have the entire process run smoothly. Several laws regulate what can be done or cannot be done by the advertisers; nevertheless a substantial amount of flexibility is permitted. According to (Stephenson, et al. 2011) it is at this point that integrities and communal responsibility come into play in the setup of the Coca Cola Company. A promoter can act unethically or recklessly though without infringing any laws. Take for instance alcoholic drink or tobacco companies could sponsor musical performances for college students, it is also possible for a shoe enterprise to promote a basketball sneaker to youth in urban centers as the like the Nike brand. Likewise the Coca Cola Company has played a major role in the social lives of several player and funs of basketball in the East African Region, where most of its support has been shown in inter school and colleges competitions. This has set the market trend for their products and also worked as an advertising foundation of their drinks on almost all their advertising billboards (Burdescu, 2009).
Ethical promotion means the responsibility of working as an advertiser and the advertiser’s aristocracies believe is ethically right in a certain condition. Social obligation means doing what is viewed as best for the well-being of general public in general or for a specific municipal of people. Therefore together, ethics and social responsibility of an organisation is viewed as the moral onus of company not to violate the consumer’s basic economic expectations, even though there are no legal laws and obligations (Greenberg, et al. 2009).
The economic environment of a large company such as the Coca Cola is majorly dependent on the consumption and the market setup. In most countries the company has enjoyed monopoly and the added advantage of being one of the most common soft drinks companies that has be on the market for a good number of years (Brun, et al.2011). The economic environment has a great role it plays on the final value of the product. For instance throughout the world Coca Cola is the most preferred drink to any other cola drink. This is because the advertising has given the company brand a label that is predominant and that has out stood the other drinks in the market. The environmental economy also affect the market prices, through the advertising value is added to the product hence the final market prices enjoy the market popularity and making it easier to set new market prices because of the large market the company brand like Coca Cola commands (Stephenson, et al.2011). Moreover the consumer demand would also play a big role of any organization set up therefore making the brand to work harder to meet the market demand.
Managerial, operational and financial
The Coca Cola company has a good managerial structure that oversees there operations in every region the company covers. There are the C.E.Os and their deputies who are in charge of the operations and the management of the company. There are regional directors who are in charge of the company’s layer out regions. Then there are the managers in charge of marketing, production, human resource and administration, finance and finally research and development. The managers and area director head office at various levels to ensure a smooth running of the company. According to (Burdescu, 2009) the financial matters are mainly handled by the finance manager but it important to note that the finances are what are used to run or operate the entire process. This includes servicing of the machines, paying of the employees and buying of the raw material.
Project management and Timelines
The projects are researched on and led by the research and development department. In the recent years the Coca Cola Company introduced any new brand of drinks called the minute maid. The financial part is handled by the finance department and the trail product is made and the market is assessed by the research and development department in accordance to the report by (Star 2009). It the market proves variable and worth investing in the product is official launched and introduced to the market to tap the new market demand.
Critical Paths and Contingency Planning
The field study in companies such the Coca Cola is the key path to productivity and efficiency. Therefore there are critical paths that are taken by the company in making to ensure that the market is under their full control. The planning is based on the market research and the company projection on the next financial year (Greenberg, et al. 2009). The development of a new product is made with the “wow” factor that hits the market making the consumer preferring that specific product to the others.
Implementation Plan Contingencies
The implementation of the contingencies plans is commissioned by the direct of the organisation and a crucial study is done on the feasibility of the product in the market (Greenberg, S. et al2009). The financial part is handled by the finance department. In most organization the remaining part of implementation is driven by the administrative department. There after the role of the new policies and products production are assessed and possible adjustments are made where necessary in the plan. The adjustments are made to ensure that there is maximum productivity in the entire process (Brun, et al. 2011).
Staffing Needs and Tools
Since the Coca Cola Company is big and has a large consumer demand therefore it needs both skilled and unskilled to meet the market demand (Brun, et al. 2011).The personnel needed t in most production companies will also be there as such Coca Cola and other drinks and beverages related companies need the skilled personnel to operate the machines that are used in the production of the drinks. Apart from that heavy machinery among other working tools is used in the processing and preparation like the cleaning of the used bottles, crates and the sealing of the bottle using the bottle top. In addition to that we see that the tools and machinery need proper management and maintenance (Burdescu, 2009).
The impact of potential change factors and the impact on the functions of management
Potential change could either affect the company positively or negatively. If the all the potential change factors are to improve then the output of the Coca Cola company will have a major growth. The growth can be attributed to the improvement on the potential change factors, however, if the reverse is done then the impact is expected to be to adverse to the organization and sometime it could led to the closing down of the company(Burdescu, 2009). Therefore poor potential change as a factor would make the management hard and almost impossible for the managerial group.
The other common blunder in commercial planning is the unpredictable plan. The marketing inexpensive should be buoyed in the final marketing plan and it should budget should comprise the same integer used in the pecuniary projections (Stephenson, et al. 2011).
The pricing course of action chosen should be unswerving with your market locus. The market study should control the marketing plan and the monetarist projections.
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Stephenson, M.et al (2011).Barriers to Asset Recovery: An Analysis to the Key Barriers and
Star (2009), Recovering Stolen Assets: Towards a Global Architecture for Asset Recovery
Burdescu, R. (2009).Income and Asset Declarations: Tools and Trade-offs
Greenberg, S. et al (2009).A Good Practice Guide for Non-conviction-based Asset Forfeiture