Chapter 7: Developing Corporate Strategy

The main focus point in Chapter 7 was on the concept of diversification . It's what helps a company stand out above the rest and be known for their products . Diversification also refers to the way a company can do business in more than one field . In the text ,there were all types of ways describing how companies can be diversified.Coca Cola has been able to expand at quick rates due to their ability to diversify all across the board. They have mastered geographic diversification ,by being present in more than 200 countries . Coca Cola has been able to keep up with consumer trends and concerns. Their products have been portrayed to be unhealthy in the past ,so in order to change this negative view Coca Cola started to add  healthier alternatives. By expanding their product line ,they were able to capture a new target market.

Chapter 5: Creating Business Strategies

Chapter 5 discussed the various ways corporations create business strategies. The two main routes that corporations take are either being a low-cost leader or using differentiation. When using a low-cost strategy, companies are able to set themselves apart by manufacturing a good product at a lower cost than their competitors. When differentiation is used ,a corporation is able to distinguish themselves by differentiating their products from their competitors. Coca Cola is known for using a low-cost leadership strategy to help their corporations thrive against competitors . Throughout their existence ,Coca Cola has used pricing strategies to help them gain control markets and give their strong competitors like Pepsi a run for their money. Coca Cola uses low -costs all across the board but even more in markets that are very sensitive to price. Coca Cola believed that they needed to be perceived as different but still affordable.

Ch. 4:Exploring the External Environment: Macro and Industry Dynamics

Chapter 4 takes a look at the external factors that affect a firm and aspects that come into play. It is very important for a firm to understand the environment they are in and are able to adapt to change . Chapter 4 went into great detail about competition and they way firms should analyze this factor .Coca Cola is a leader in the beverage industry but competition in this industry is very high. Their biggest competitors are PepsiCo and Nestle,and they also compete with many local firms. Some of the main competitive factors include pricing,advertising,product innovation,and a number of other things. Coca Cola does have a number of competitive  strengths which are having a high level of consumer acceptance,unique marketing capabilities,and a worldwide network of bottlers/distributors. On the other hand, Coca Cola is faced with some challenges with strong competitors in some parts of the world and powerful buyers with concentrated retail sectors .

Ch.3 :Examining the Internal Environment: Resources, Capabilities, and Activities

Chapter 3 discusses examining the internal environment of a corporation and all the factors that are involved. Coca Cola is a leader in the beverage industry and they hold a very sustainable competitive advantage.Coca Cola has a distribution network in over 200 countries and with 3,500 different types of beverages produced. In order to serve that many markets efficiently ,they have close to 300 distributions centers which helps minimize shipping time to decrease costs and help increase revenue.They have enough resources and capabilities to service all of their consumers around the world and have built a very successful brand .  Chapter 3 also went into detail about a company's SWOT analysis . SWOT is the strengths,weaknesses,opportunities,and threats that an organization has.

Ch. 2: Vision and Mission

Chapter 2 discusses the purpose of a company's vision and mission statements. The mission of Coca Cola extends far beyond just manufacturing beverages .They strive to make an impact on the global community and satisfy all their loyal consumers. A company's vision and mission help with decisions and actions as a road map to success.

The Coca‑Cola Company Mission

Our mission is:

• 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

The Coca‑Cola Company Vision
To achieve our mission, we have developed a set of goals, which we will work with our bottlers to deliver:

Profit: Maximising return to shareholders, while being mindful of our overall responsibilities

People: Being a great place to work, where people are inspired to be the best they can be

Portfolio: Bringing to the world a portfolio of beverage brands that anticipate and satisfy people's desires and needs

Partners: Nurturing a winning network of partners and building mutual loyalty

Planet: Being a responsible global citizen that makes a difference

Productivity: Be a highly effective, lean and fast-moving organisation

Chapter 1 : Introducing Strategic Management

The first chapter of our book begins by introducing the concept of strategic management.It is defined as the process by which a firm manages the formulation and implementation of a strategy . Implementing a good and efficient strategy is what helps a corporation thrive .Strategic management helps provide a framework that everyone in the organization can build from . Coca Cola strategically placed itself in the world's soft drink market and holds a great percentage of the market share. They are now working to expand their existing growth strategy and accelerate innovation .

Introduction

This will be my blog for MGMT 4710 at the University of Memphis.I will be using key concepts learned in strategic management throughout this semester to analyze a corporation .The Fortune 500 company that I will be focusing on will be Coca Cola.