|Name||The Coca Cola Company|
|Geographic areas served||Worldwide|
|Current CEO||Muhtar Kent|
|Revenue||$ 48.01 billion (2012)|
|Profit||$ 9.01 billion (2012)|
|Main Competitors||PepsiCo Inc., Dr Pepper Snapple Group, Inc., Unilever, Groupe Danone, Kraft Foods Inc., Nestlé S.A. and many other companies.|
The Coca Coola Company is the largest beverage business in the world serving more than 200 countries and offering more than 500 brands.
Coca Cola mission statement 2013
|“To refresh the world - in mind, body and spirit… To inspire moments of optimism - through our brands and actions… To create value and make a difference everywhere we engage”|
|Does it include...?|
|Technology||Concern for survival||Philosophy|
|Self-concept||Concern for public image||Employees|
|Does it mention values like...?||Customer or product-oriented?|
(This evaluation framework is composed of the guidelines listed in our article: Mission Statement for Success)
Coca Cola Company’s mission is quite poor and we have evaluated it only 1.3 marks out of 4.5. The mission only includes two components and doesn’t mention any values by which the company guides its actions. It is customer-oriented, which means that the mission is flexible and enduring.
Yet it seems that Coca Cola mixed its vision statement with a mission and revealed their reason for being in the vision. Coca Cola’s vision includes following six Ps:
“People: Be a great place to work where people are inspired to be the best they can be.
Portfolio: Bring to the world a portfolio of quality beverage brands that anticipate and satisfy people's desires and needs.
Partners: Nurture a winning network of customers and suppliers, together we create mutual, enduring value.
Planet: Be a responsible citizen that makes a difference by helping build and support sustainable communities.
Profit: Maximize long-term return to shareowners while being mindful of our overall responsibilities.
Productivity: Be a highly effective, lean and fast-moving organization.”
Company’s vision describes firm’s customers, products, markets, concern for survival, philosophy, self-concept, concern for public image and concern for employees, which is exactly what a good mission should include. Coca Cola also provides seven values, which guide its employees’ actions, but doesn’t mention any of them in its mission.
We can conclude that Coca Cola’s mission is created poorly and should be replaced by its vision statement and include at least some of the values mentioned separately. By doing this, the company would be able to clearly communicate its 'reason for being' to all stakeholders in one coherent statement.