The ensuing paper looks at Coca-Cola’s preeminent position in the soft drink sector and why it enjoys this position. The paper also explores the external factors which shape the company and its direction and how Coca-Cola has responded. Additionally, an overview of the company’s strategic efforts shall be undertaken and some cautionary notes for the future will be sounded. On balance, the firm is in excellent shape but it is not unassailable.
Overview of Management Strategies of The Coca-Cola Company
In the New York Harbor in 1886, labors were erecting the Statue of Liberty. Eight hundred miles away, John Pemberton, an Atlanta pharmacist inspired by simple curiosity was unveiling another great American symbol. One afternoon in the back of Jacob’s Pharmacy, Pemberton stirred up a caramel-colored liquid and combined the mixture with carbonated water. The new drink was sampled by customers who were present and they all agreed it was something special. Soon after, Jacobs' Pharmacy served the syrup with the use of a fountainhead for five cents a glass. Frank Robinson, Pemberton's bookkeeper, named the mixture Coca-Cola, and wrote it out in his distinctive script. To this day, Coca-Cola is written the same way. Sales in the first year, amounted to 9 glasses of Coca-Cola a day. Over the course of next three years, an Atlanta businessman, Asa Griggs Candler secured rights to the business for a total cost of $2,300. Candler brought real vision to the brand and the business and would become the Company's first president (The Coca-Cola Company, 2011).
Over a century later, more than 10 billion gallons of syrup have been produced under the Coca-Cola brand name. Unfortunately for Pemberton, who died in 1888, and never got to realize the success of the beverage he had invented.
Coca-Cola, as many of us know, is one of the world’s best known brands; as it stands, it is the world’s undisputed soft drink company, with roughly half of the...