Mission, Vision, and Values Running head: Mission, Vision, and Values

Mission, Vision, and Values Sarah Cook University of Phoenix

Mission, Vision, and Values Mission, Vision, and Values

Coca Cola !as introduced on May ", 1""# !hen a $har%acist, &r' (ohn Stith Pe%)erton took the syru$ he had develo$ed to a local *tlanta $har%acy !here it !as %ixed !ith car)onated !ater and sold for five cents a glass +,he Coca Cola Co%$any +a-, 2.."-' /is $artner and )ookkee$er, 0rank M' Ro)inson, thinking the t!o Cs !ould look good on advertise%ents, suggested they na%e the )everage Coca Cola and in his o!n scri$t $enned !hat !ould )eco%e the co%$any1s fa%ous trade%ark' Coca Cola !as advertised in local $a$ers and on signs as a ne! and $o$ular fountain drink )ut during its first year only sold an average of 2 glasses $er day +,he Coca Cola Co%$any +a-, 2.."-' 3ithout reali4ing the $otential of this ne! $roduct, &r' Pe%)erton sold off $ortions of his )usiness to various $artners and eventually all of his re%aining interest in Coca Cola to *sa Candler' 5ver ti%e, *sa Candler !as a)le to )uy additional rights and ac6uire co%$lete control of Coca Cola' Soon after, *sa Candler for%ed a cor$oration called ,he Coca Cola Co%$any and $atented the Coca Cola trade%ark' *sa Candler heavily $ro%oted his $roduct through the distri)ution of cou$ons for co%$li%entary glasses of Coca Cola and the distri)ution of souvenirs de$icting the Coca Cola trade%ark' 3ithin three years of incor$oration, *sa Candler announced Coca Cola !as )eing drunk in every state and territory in the United States +,he Coca Cola Co%$any +a-, 2.."-' Coca Cola continued to gro! fro% there into the co%$any it is today, a glo)al $roduct !ith the 7)est kno!, %ost ad%ired trade%ark in the !orld8 +,he Coca Cola Co%$any +a-, 2..", $ara' 2-' Background 3hile Coca Cola initially consisted of 9ust one flavor of soft drink, today ,he Coca Cola Co%$any %aintains a $ortfolio of over :,... )everages' ;ncluded in this $ortfolio are diet and regular s$arkling drinks, still drinks such as fruit drinks and 1..< 9uices, !ater, s$orts and

Mission, Vision, and Values energy drinks, teas and coffees, and even %ilk )ased and soy )ased )everages' ,he Coca Cola Co%$any o!ns )rands such as *=3, Cherry Coke, Canada &ry, &asani, Minute Maid,

Po!erade and S$rite, 9ust to na%e a fe! +,he Coca Cola Co%$any +c-, 2.."-' 3ith such a !ide range of )everages, Coca Cola serves custo%ers around the !orld and in all !alks of life +clich>-' Coca Cola Co%$any $roducts are consu%ed glo)ally in restaurants, $urchased in grocery stores and convenience stores, drank during s$orting events )y )oth athletes and s$ectators and are availa)le for a relatively inex$ensive $rice' Mission and Vision Statements ,he 7funda%ental $ur$ose that sets a fir% a$art fro% other fir%s of its ty$e and identifies the sco$e of its o$erations in $roduct and %arket ter%s is defined as the co%$any %ission8 +Pearce = Ro)inson, 2..?, $' 2#-' ,he Coca Cola Co%$any %ission is to refresh the !orld, ins$ire %o%ents of o$ti%is% and ha$$iness, and create value and %ake a difference +,he Coca Cola Co%$any +)-, 2.."-' ,his %ission state%ent is a reflection of Coca Cola1s attitude and outlook over the long run' ,here is still roo% in the %ission state%ent !here ,he Coca Cola Co%$any1s social res$onsi)ility can )e addressed %ore fully' ,he Coca Cola Co%$any understands that the !orld is constantly changing and in order to continue to thrive in the years ahead it has develo$ed a vision to $re$are the co%$any for !hat is to co%e' ,he Coca Cola Co%$any 2.2. vision is the fra%e!ork for !hat needs to )e acco%$lished in order to achieve sustaina)le gro!th over the next 1. years and )eyond' ,he vision addresses all as$ects of the )usiness' 0ocusing on $eo$le, Coca Cola !ants to )e a great $lace to !ork !here e%$loyees are ins$ired to )e their )est' @ooking at their $ortfolio, Coca Cola as$ires to )ring the !orld 6uality )everage )rands that not only %eet )ut antici$ate consu%er1s desires and needs' 3ith its $artners, Coca Cola ho$es to create %utual, enduring

Mission, Vision, and Values value )y nurturing a !inning net!ork of custo%ers and su$$liers' Aee$ing the $lanet in %ind, Coca Cola $lans to )e a res$onsi)le citi4en )y hel$ing to )uild and su$$ort sustaina)le co%%unities' 3ith regard to $rofit, Coca Cola looks to %axi%i4e shareholder1s long ter% return !hile )eing %indful of overarching res$onsi)ilities' 3here $roductivity is concerned, Coca Cola ai%s to )e an efficient, lean and fast %oving organi4ation +,he Coca Cola Co%$any +)-, 2.."-'

,he Coca Cola Co%$any is thorough in their vision state%ent, )ut in the rough econo%ic ti%es of today, ,he Coca Cola Co%$any %ay !ant to include one %ore ite% in the vision state%ent' ;n the $art concerning e%$loyees, ,he Coca Cola Co%$any does not address outsourcing, layoffs or 9o) sta)ility' B%$loyees !ant not only a good $lace to !ork !here they are ins$ired to do their )est )ut also 9o) security' ,his $art of the vision state%ent should )e: Ce a great $lace to !ork !here $eo$le are ins$ired to do their )est and feel secure in their 9o)s' 3hile this see%s like adding only a fe! !ords to a long state%ent, these fe! !ords can have a large i%$act on the co%$any and e%$loyees' Dood Impact on desired end state /aving a !ell thought out %ission, vision and set of values is essential for an organi4ation such as ,he Coca Cola Co%$any to %eet its desired end state' ,hese three ele%ents allo! for everyone at all levels of the organi4ation to understand !hat the co%$any is trying to achieve in the long run' ,hey hel$ Coca Cola1s leadershi$ develo$ standards !ithin the co%$any of ho! to a$$roach )road conce$ts' Understanding !here the co%$any !ants to end u$ in the long run hel$s in the decision %aking $rocess for the short run' ,he %ission, vision and values set ex$ectations for the organi4ation as a !hole and indicate !here Coca Cola1s $riorities lie'

Mission, Vision, and Values Reassessment

;n light of the i%$roved strategy there are a fe! co%$onents of the strategic %anage%ent $rocess that need to )e analy4ed' ,he Coca Cola Co%$any needs to analy4e their %ission state%ent as !ell as asses )oth the internal and external environ%ents' ,he %ission state%ent should 7ex$ress ho! the co%$any intends to contri)ute to the societies that sustain it8 +Pearce = Ro)inson, 2..?, $'1:-' Currently the %ission state%ent includes a $art a)out %aking a difference' ,he Coca Cola Co%$any should reassess if this is s$ecific enough and in !hat areas it !ants to %ake a difference' ,he internal and external environ%ents need to )e considered in order to incor$orate 9o) security into the vision state%ent' ,he Coca Cola Co%$any %ay have to change their $riorities !ithin the co%$any and consider the external conditions )efore they can co%%it to this vision state%ent change' DoodF' Effects Changing the co%$any strategy !ill have effects on all levels of the organi4ation' ,he leadershi$ %ay have to change so%e of their $riorities, set different goals, and %ake so%e ad9ust%ents in their decision %aking $rocess' ,he culture should not have to change that drastically since ,he Coca Cola Co%$any is already doing so%e of the things even though they have not s$ecifically identified the% in the %ission and vision state%ent' ,he different stakeholders should all e%)race the changes since the co%%unity as !ell as individuals !ill )enefit and as %entioned )efore, ,he Coca Cola Co%$any has already taken ste$s to achieve the changes even though they have not )een s$elled out in the %ission and vision state%ents' Conclusion ,he Coca Cola Co%$any has taken the necessary ste$s in the strategic %anage%ent $rocess to hel$ ensure the co%$any1s future success' ,he co%$any has develo$ed %ission and

Mission, Vision, and Values vision state%ents as a fra%e!ork to $re$are for !hatever is to co%e' ,he !orld %arket is constantly changing and !ith that ,he Coca Cola Co%$any %ust change and evolve also' Cy u$dating their %ission and vision state%ents ,he Coca Cola Co%$any can slightly alter their strategy and continue on the road to i%$rove%ent and lasting success' WRITTEN ASSIGNMENTS Item Description 1 Content and Conce$tuali4ation Pro)a)ly the only $erson !ho %et the )rief +a f )elo!-' ,hanks %uch 2 @ogical organi4ation of thoughts, ideas and structure : S$elling, Dra%%ar, *P* for%at, etc' Very good, )ut !atch so%e of the little things that are easy to catch +like $assive voiceTotal

Percents #.G#.< 2.< 12G2.< 22G1..<

Points: E'2? a. Identify the organization for which you would like to complete or are considering completing a strategic plan. You may focus this study on a specific department, group, division, or function, within the organization. b. Provide a brief background of this organization, including its products/services and customers. c. Look for the organization s mission and vision statements. !odify or improve them to achieve as much clarity as possible. d. "ow do the mission, vision, and values aid the organization in reaching its desired end state# e. $hat components of the strategic management process need to be analyzed in light of the new strategy# f. $hat effect will the outcomes of the new strategy have on the leadership and culture of the organization# "ow will the outcomes affect stakeholders#

Mission, Vision, and Values References ,he Coca Cola Co%$any +a-' +2.."-' /eritage' Retrieved May 2E, 2..2 fro% htt$:GG!!!'thecoca colaco%$any'co%GheritageGchronicleI)irthIrefreshingIidea'ht%l ,he Coca Cola Co%$any +)-' +2.."-' 5ur Co%$any' Retrieved May 2E, 2..2 fro% htt$:GG!!!'thecoca colaco%$any'co%Gourco%$anyG%issionIvisionIvalues'ht%l ,he Coca Cola Co%$any +c-' +2.."-' Products' Retrieved May 2E, 2..2 fro% htt$:GG!!!'thecoca colaco%$any'co%G)randsG)randlist'ht%l Pearce, (', = Ro)inson, R' +2..?-' Strategic Management (9th ed.). JUniversity of Phoenix Custo% Bdition e ,extK' Le! Mork: ,he McDra! /ill Co%$anies' Retrieved May, 2:, 2..2 fro% University of Phoenix, MC*E".'