Coke's Changing Fortunes:The Need for Change
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Code : COM0025
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Region : US
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Introduction:The Coca-Cola Company (Coke), the world's leading soft drink company is the most valuable brand in the world. It ranks 91st in the Fortune 500, and stands 11th in the Global Most Admired companies. The company operates in over 200 countries, and sells 400 brands of non-alcoholic beverages including both carbonated (fizzy drinks) and non-carbonated (coffee and tea; energy, sports and nutritional drinks, and fruit juices) drinks, and packaged drinking water such as Dasani. Of the world's top five soft-drink brands, Coke owns four – Coca-Cola, Diet Coke, Fanta, and Sprite. Its flagship brand Coca-Cola, also popular as Coke, the favorite drink of the Americans for more than a century now, is often considered symbolic of "Americana and cosmopolitanism". The company's sales totaled $18.9 billion, and its shares soared 3,500%, by 1997, the highest in its history. Since 1998, the company, floundering with strained relations with its bottlers in the wake of harsh restructuring, contamination scares and several legal battles around the world, has faced fluctuations in its income, sales, and stock price. Observers wondered if Coke has lost its fizz, and if the "real thing" could revive. Nevertheless, Coca-Cola, "an organization that thrived on not having change" for a hundred years, is now witnessed changing its leadership, changing its strategies, molding its culture, and learning from its 'errors', to cope with the changing markets and geo-political requirements, as it fell into a series of vagaries in the late 1990s. Organizations seeking transformation, as Rosabeth Moss Kanter observed, "cannot avoid the messy mistake-ridden muddling stage". |
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