This document outlining the three principals to help come up with Coca cola’s 2020 vision was drafted in 2009 by the company and its partners in the beverages industry that work in line with this company. The backbone is the three principals as: innovation, creativity and focus. These three are taken as the company’s stronghold factors that will help it achieve its set goals and vision and outline the strategy on implementation (mission) (Brandon, paragraph 16).
According to strategic business management, innovation involves coming up with very attractive products by changing one of the original attributes to make it deviate from the known brand. On this issue, the company explored treads in the market so as to come up with fully satisfying products to meet consumer demands (Hill, 120). These marketing treads are use of technology and high competition in the market. So as to keep in business, the company had to use the best policies and advertisement means to make their product still the best in the market. So as to have the best knowledge base, the company has also embarked on vigorous training and advancement in technology so as to conclusively implement the plans and innovatively deal with the brands. This will keep the brands of this company still ahead of its competitors. For example, a look at the market treads may result in blending of some brands so as to fully meet the demands of the target market (Brandon, paragraph 2).
The other aspect is creativity. From this perspective in business, a business entity comes up with the most suitable advert for its product in a certain locality. Most of these adverts reflect the cultural background of the target market and the possible incorporation of the products in local activities of the market targeted (Hill, 122). This in turn creates a sense of ownership among the users and makes this product fit perfectly in the market. As a result, the creativity of the company earns it a larger market share and competitive advantage over its fellow producers (Ron, paragraph 4). This is the strategy being applied by Coca cola Company whereby it virtually incorporates its advertisements in sports and other cultural activities to make the people feel that Coca cola products are the best choice for their activities (Brandon, paragraph 3).
The third factor being applied by this company is focus. In business, having a focused goal refers to the ability of a firm to clearly define its goals and pursue them without wavering due to intermediate opportunities and ideas (Hill, 126). Looking at this company, there are very many business ideas that follow it. This means that it can easily get disillusioned if its focus on the main goal is not fully looked into. So as to ensure that this company remains focused on the main goal, the company has decided to embark on some of the core values of its venture. Due to digital interconnectivity, the market share has greatly expanded making producers to think of more brands and productivity. In most cases, this comes at a compromised quality of the products making it very difficult to satisfy the market (Ron, paragraph 5). So as to counter this, the company has a strategy of remaining focused on the main goal and putting its virtues as the guidelines to better productivity instead of profit maximization (paragraph 4).
Hill C and Jones G. Strategic management theory: an integrated approach, Houghton Mifflin Harcourt, 2008 Print, and 10th edition.
Brandon G. 2013. Advertising, marketing and media: Coca cola’s three principles that will guide it through 2020. Retrieved from Forbes on 17th January 2013
Ron B. 2010. Global management strategy: coca cola Company, retrieved from http://www.scribd.com/doc/20695595/Global-Strategic-Management-Coca-Cola