MBA 599 SLU Strategic Management Discussion – Description
Discuss the logical arrangement of the various components and phases of the comprehensive strategic-management model. Answer the challenge questions and respond to at least one of your classmates. Be sure to justify your answers.
Challenge Questions:
What are the three stages or phases in strategic management?
Which stage is more analytical?
Which relies most on empowerment to be successful?
Which relies most on statistics?
Purpose:
By completing this activity, you should be able to understand the logical arrangement of the strategic management model and the three phases. You will also be able to identify the three-fundamental strategy-evaluation activities: (1) reviewing external and internal factors that are the bases for current strategies, (2) measuring performance, and (3) taking corrective actions.
Part 1(a). Should be least 500 words with in text citations. Use at least 2 references that are websites and based in the United States. Look at the attachments titled “Learning Exercise 2b and 2b2.
Coca-Cola’s mission statement is available on the corporate website at http://www.coca-colacompany.com/our-company/mission-vision-values. The purpose of this exercise is to evaluate Coca-Cola’s mission statement and to develop a new and improved statement for the company.
Challenge
Review Coca-Cola’s mission statement.
Develop an improved mission statement by completing Learning Exercise 2B in your text.
address steps 1-3
Part 1(b) Should be at least 300 words with in text citations. Use at least 2 references that are based in the United States and they should be websites. This is a discussion response.
Discussion 1
Coca-Cola’s website has their purpose, or mission, as “Refresh the world. Make a difference” (The Coca-Cola Company, 2023, para.1). David and David (2019) paraphrases Coca-Cola’s mission statement as “To refresh the planet; to create moments of optimism and happiness; to provide value and make a difference” (p. 29). I would like to propose the following mission statement for Coca-Cola:
To refresh the world’s (market) thirst (customers) with varieties (technology) of satisfying refreshments (products), as well as make a difference (philosophy) in the world’s sustainability (reputable reputation) with an innovated workforce (employees) contributing to dependable (responsibility) and enjoyable hydration (competitive advantage) that creates moments of optimism and happiness.
I choose to recommend the above mission statement based on David and David’s (2019) guidance on what it should consist of. First, a company’s mission statement represents what the business is and its reason for being. It should be broad but not allow assumptions or unrealistic expectations. It aims to stand out and set itself apart from other like companies. The mission statement needs to include current and future goals. Lastly, it should be clearly written as to be understood by all stakeholders. In addition, a mission statement works when it is composed of the customers, products, markets, technology, philosophy, competitive advantage, reputable reputation, responsibility, and employees. Coca-Cola’s mission statement is too broad and indistinctive. It also does not encompass all 9 recommended components. I am eager to see and hear others’ ideas.
References
The Coca-Cola Company. (2023). Purpose & vision. Retrieved July 4, 2023, from https://www.coca-colacompany.com/about-us/purpose-…
David, F. R., & David, F. R. (2019). Strategic management: a competitive advantage approach, concepts and cases (17th ed.). Upper Saddle River: Pearson. ISBN: 978-0135192221
Part 1(c) Should be at least 300 words with in text citations. Use at least 2 references that are based in the United States and they should be websites. This is a discussion response.
Our Mission
Our Roadmap starts with our mission, which is enduring. It declares our purpose as a company and serves as the standard against which we weigh our actions and decisions.
To refresh the world…
To inspire moments of optimism and happiness…
To create value and make a difference.
A company’s mission statement sets the tone for its future and guides its expansion. Employees are encouraged by mission statements to think about how their decisions may affect future corporate performance and a productive workplace environment (Nakamoto, 2023). A mission statement is the cornerstone for priorities, strategies, plans, and work assignments, according to David (2019). It serves as the foundation for designing organizational structures and occupations. An organization’s goals, activities, and description are all included in the mission statement. An organization’s purpose is condensed into a mission statement.
Each organization has a certain goal and reason for existing. The mission statements should acknowledge this distinction (David et al., 12019). I liked how Coca-Cola presented its operations and objectives in bullet points. The Coca-Cola Company’s purpose remains clear: To refresh the world and make a difference (Coca-Cola, 2020).Coca-Cola must, however, give more information about its product. A mission statement should be grabbing even though it is designed to be brief. Therefore, Coca-Cola’s mission statement can be improved by making it more specific and using keywords to attract the attention of its target audience, future employees, and stakeholders. Coca-Cola should therefore consider developing a mission statement: “By offering delicious, refreshing, and exciting drinks, spreading joy, and bringing people of all ages together, we aim to create value and make a difference now and in the future.
References
Coca-Cola. (2020, March 29). Mission, Vision, and Values. Retrieved from Coca-Cola: https://www.coca-cola.com/za/en/media-center/misio…
Nakamoto, T. (2023). How Do Mission Statements Affect Organizational Culture? eLearning Industry. https://elearningindustry.com/how-do-mission-statements-affect-organizational-culture#:~:text=Mission%20statements%20help%20employees%20gain,and%20invest%20in%20the%20future.
David, F. R., David, F. R., & David, M. E. (2019). Strategic Management: A Competitive Advantage Approach, Concepts and Cases (17th ed.). Pearson Education (US). https://reader2.yuzu.com/books/9780135203699
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