Coca-Cola The
Running Head: COCA-COLA: THE BALANCED SCORECARD APPROACH
Coca-Cola The Balanced Scorecard Approach Your Name Your Coure Ti!le
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Coca-cola: The Balanced Scorecard Approach SLP# $# Coca-cola Compan% &herea'!er re'erred !o a (!he Compan%) or (!he Organi*a!ion)+ i !he o,ner o' 'our o' !he ,orld !op 'i.e nonalcoholic par/ling 0e.erage 0rand /no,n !o almo! e.er% American# Coca-cola ,a e!a0lihed in "112 and preen!l%3 i! i opera!ional in a! lea! 455 coun!rie ha.ing a! !he minimum 653755 aocia!e ,orld,ide and er.ing ("#7 0illion) & The Coca-cola 4551 p#" +o' cu!omer each da% #The Compan%8 o.erall goal3 ,hich i i! miion i !o (re'reh !he ,orld in 0od%3 mind and piri!3 inpire momen! o' op!imim !hrough !heir 0rand and ac!ion and !o crea!e .alue and ma/e a di''erence in all !heir engagemen!) & 9iion3 iion3 4552+ The Compan% i a manu'ac!urer and eller o' o'! &car0ona!ed+ drin/ ,i!h .ariou 0rand3 !he mo! popular o' ,hich i !he 0anner 0rand3 Co/e# $n aeing i! ucce3 !he Organi*a!ion doe no! onl% coun! i! mone!ar% ale and pro'i! 0u! a ,ell a i! e''ec! !o !he ,orld in general# Cocacola Compan% !rie !o 0e open and accei0le !o e.er%one ,ho need in'orma!ion on an%!hing i! doe# ;inancial record3 compan% in'orma!ion3 cu!omer-goal3 in.e!or .alue and pre releae are all accei0le a! !he Compan%8 ,e0i!e3 ,,,#!hecoca-colacompan%#com# Aide 'rom !he a0o.emen!ioned miion3 !he Organi*a!ion8 .iion include !he 'ollo,ing &9iion3 iion3 4552+:
People: Being a grea! place !o ,or/ ,here people are inpired !o 0e !he 0e! !he% can 0e# Planet : Being a reponi0le glo0al ci!i*en !ha! ma/e a di''erence# Portfolio: Bringing !o !he ,orld a por!'olio o' 0e.erage 0rand !ha! an!icipa!e and a!i'% people deire and need# Partners: Nur!uring a ,inning ne!,or/ o' par!ner and 0uilding mu!ual lo%al!%# Profit : 9a
9oreo.er3 !he Compan%8 !ra!egie are incorpora!ed in i! .alue , hich include !he 'ollo,ing:
SLP $$#
Leadership: (The courage !o hape a 0e!!er 'u!ure) Passion: (Commi!!ed in hear! and mind) Integrity: (Be real) Accountability: ($' i! i !o 0e3 i! up !o me) Collaboration: (Le.erage collec!i.e geniu) Innovation: (See/3 imagine3 crea!e3 deligh!) Quality: (=ha! ,e do3 ,e do ,ell)
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$ndeed3 cu!omer i .er% impor!an!# =i!hou! a cu!omer3 an% 'inancial organi*a!ion ,ould no! ur.i.e A Coca-cola8 ,a% !o re!ain eec!i.e mu! 0e me!# The achie.emen! o' cu!omer le.el o0>ec!i.e3 ,hich include (!he a!i'ac!ion o' cu!omer3 !heir re!en!ion3 and larger mar/e! hare) &The Balanced Scorecard+ ma/e !he 0uine per'orm 0e!!er#=h% i !he cu!omer .er% impor!an!? Becaue !here i a @direc! correla!ion 0e!,een 'inancial reul! and cu!omer#)&Sha,3 45553 p# + The Compan%3 !o a!i'% i! miion and .iion3 !hrough i! !ra!egie 'or i! eec!i.e are e!ul:
To a!i'% cu!omer ,i!h !he gra!i'%ing !a!e o' high uali!% produc!
The in!roduc!ion !o cu!omer o' produc! ,i!h di.ere and 'or!i'ied produc! !ha! are heal!hier#
Produc!ion o' heal!h% 0e.erage line ,hich are !a!% %e! !he% are no! damaging !o heal!h#
The !hree o0>ec!i.e a0o.e are .er% impor!an!# The Compan% ha ac/no,ledge !ha! (o0ei!% and o!her heal!h pro0lem) &The Coca-cola3 45513 p#"4+ ma% endanger !he po!en!ial income o' !he Compan% a ,ell a i! name3 ,hich can 0e 'a!al !o a compan% !ha!) e!a0lihed repu!a!ion ,orld-,ide3 and 0randing ha ena0led in!erna!ional repu!a!ion !o 0e crea!ed@ &a%3 "6673 p# "7+# Loo/ing 'rom !hee o0>ec!i.e3 i! can 0e een !ha! !he !hird one i !he mo! peci'ic o' !he !hree# (p roduc!ion o' heal!h% 0e.erage line ,hich are !a!% %e! !he% are no! damaging !o heal!h) ,ould reul! !o !he (in!roduc!ion o'
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produc! !a!e di.eri!% and 'or!i'ica!ion ma/ing !hem heal!hier) !ha! ,ould ma/e cu!omer a!i'ied ,i!h gra!i'%ing high-uali!% &heal!h%+ 0e.erage# Thi achie.e !he !ra!eg% o' !he Compan% !a!ing3 (=ha! ,e do3 ,e do ,ell) and alo i! miion !a!ing# (Re'reh !he ,orld in 0od%3 mind and piri!): an unheal!h% drin/ ,ould no! a!i'% !he mind and piri!# (The 'ollo,ing ma!rice repreen! !he Coca-cola8 cu!omer-le.el o0>ec!i.e and !heir correponding per'ormance me!ric and !arge! a ,ell a inno.a!i.e mean and !he rela!ion !o !he Compan%8 !ra!eg%3 miion and .iion: Table 1. Identified Objectives and the Corresponding Metrics and Targets for the Coca-cola Company
O0>ec!i.e &"+
Bringing !o !he ,orld a por!'olio o' 0e.erage 0rand !ha! an!icipa!e and a!i'% people deire and need
Per'ormance 9eaureF9e!ric &4+
Le.el o' Per'ormanceF Targe! &+
The amoun! o' ,orld,ide ale and pro'i!#
=orld recogni!ion o' !he Coca-cola 0rand#
O0!aining o.erall poi!i.e repu!a!ion ,orld,ide#
Poi!i.e repone !o .ariou produc! o''ered 0% !he Compan%##
$n!erna!ionall% achie.e popular and e
Re'reh !he ,orld in 0od%3 mind and piri! &!hrough highl% dri.en ale+
The ale .olume and ale amoun! and pro'i! o' !he Compan%#
All produc! are ala0le and cu!omer do no! ha.e reaon no! !o 0u% !hem#
Mission- Level Objective
(=ha! ,e do3 ,e do ,ell)
The populari!% o' produc! and er.ice a ,ell a Compan% recogni!ion 0% !he pu0lic#
E
trategy-Level Objective
To a!i'% cu!omer ,i!h !he gra!i'%ing !a!e o' high uali!% produc!
The num0er o' addi!ional cu!omer 0u%ing !he produc!#
The produc! mu! ha.e appealing !a!e !o cu!omer %e! !he% are o' high uali!% 0e.erage#
Sale .olume and amoun! !o (heal!hconciou) mar/e!# C!stomer "erspective
The in!roduc!ion !o cu!omer o'
Cu!omer repone !hrough !he .olume
The a.aila0ili!% o' a ,ide .arie!% o'
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Table 1. Identified Objectives and the Corresponding Metrics and Targets for the Coca-cola Company
O0>ec!i.e &"+
Per'ormance 9eaureF9e!ric &4+
produc! ,i!h di.ere and 'or!i'ied o' ale o' !he ne,l% in!roduced produc! !ha! are heal!hier# produc!#
Le.el o' Per'ormanceF Targe! &+ .i!amin and mineral-'or!i'ied3 heal!h% and (non-o0ei!% cauing) produc! 'rom ,hich !he cu!omer ma% chooe 'rom#
Repone o' !he (heal!h-conciou) mar/e! Internal "rocess "erspective
Produc!ion o' heal!h% 0e.erage line ,hich are !a!% %e! !he% are no! damaging !o heal!h#
The Compan%8 dedica!ion on pro.iding heal!h% produc! !hrough pro.iion o' addi!ional 0udge! 'or !he reearch and de.elopmen! depar!men!#
Con!inued reearch and de.elopmen! o' e
Internal Learning and #ro$th "erspective
Table %. Identified Objectives and the Corresponding Initiatives&"rograms for the Coca-cola Company
O0>ec!i.e &"+
$ni!ia!i.eFProgram &G+
Bringing !o !he ,orld a por!'olio o' 0e.erage 0rand !ha! an!icipa!e and a!i'% people deire and need
=idening !he reach o' !he Compan% 0% e!a0lihing !rong a''ilia!ion in .ariou coun!rie# ;le
Vision-Level Objective
Re'reh !he ,orld in 0od%3 mind and piri! &!hrough highl% dri.en ale+
Hea.% produc! and and 0rand promo!ion# Pro.iding grea!er re!urn !o cu!omer3 adhering !o !heir le.el o' a!i'ac!ion 0% pro.iding good cu!omer er.ice3 relia0le and a''orda0le !a!% produc! and elling !hem onl% !he (real !hing)#
Mission- Level Objective
(=ha! ,e do3 ,e do ,ell)
$mplemen!a!ion o' uali!% aurance3 0e i! in !he Coca-cola8 produc! or in i! er.ice# trategy-Level Objective
To a!i'% cu!omer ,i!h !he gra!i'%ing !a!e o' high uali!% produc!#
Crea!e a,arene on !he uali!% o' produc! and o' produc! !hemel.e3 ei!her !hrough media commercial or gi.ing a,a% o' 'ree i!em#
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Table %. Identified Objectives and the Corresponding Initiatives&"rograms for the Coca-cola Company
O0>ec!i.e &"+
$ni!ia!i.eFProgram &G+ C!stomer "erspective
The in!roduc!ion !o cu!omer o' produc! ,i!h di.ere and 'or!i'ied !a!e and ingredien!3 repec!i.el%3 !ha! are heal!hier#
Addi!ion o' compa!i0le .i!amin andFor mineral !o produc!#
Internal "rocess "erspective
Produc!ion o' heal!h% 0e.erage line ,hich are !a!% %e! Reduc!ion o' 'a!!ening3 o0ei!%-cauing ingredien! 'rom !he !he% are no! damaging !o heal!h# produc!# rea!er reearch and de.elopmen! e''or! 'rom !he Compan% peronnel in.ol.e on con!inuou impro.emen! and produc! inno.a!ion# Internal Learning and #ro$th "erspective
The a0o.e !arge! aim @!o impro.e !he uali!%3 per'ormance and accoun!a0ili!%@ &S!e.en3 S!o/e I O9ahon%3 4552+ o' !he Compan%# The me!ric on !he o!her hand ,hich are !he meaure o' !he per'ormance mu! 0e properl% de'ined or (o,ned) according !o Ar!hur 9# Schneiderman &4552+ 'or i! !o 0e ue'ul# Addi!ionall%3 ini!ia!i.e pro.ide (%!ema!ic me!hodolog% 'or manager3 and emplo%ee3 !o e!a0lih a ,ide .arie!% o' goal and o0>ec!i.e3 in!o !arge!ed and 0uine-aligned .ie,poin!3 and !hen render de!ailed aemen! and >udgmen!) &Balanced Scorecard+ a !o !he o0>ec!i.e8 ucce# =i!h !he a0o.e iden!i'ied per'ormance !arge!3 me!ric a ,ell a ne, program and Compan% ini!ia!i.e !o a!i'% !he cu!omer-le.el o0>ec!i.e going up,ard !o i! .iion3 !he Compan% ,ould ha.e a ,ell-de'ined e! o' ac!i.i!ie and procee !o !rul% achie.e ,ha! !heir 0igge! goal i# Balanced corecard i indeed a .er% ue'ul !ool 'or organi*a!ion 0ecaue i! con!ain# @.aria0le !ha! ma/e or 0rea/ a 'irm in !he in!enel% compe!i!i.e 0uinee @ &Ep!ein I Birchard3 45553 p# 14+ Al!hough i! i no! reall% !he !o!al meaure3 per e3 i! i ome!hing !ha! (a!!emp! !o under!and !he phenomena) &9ilga!e3 455G3 p# 1+ o' !he 0uine 'rom .ariou apec!#
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Re'erence (Balanced Scorecard $ni!ia!i.e#) Clear Thin/ing Li!e3 nFd# 44 9a% 4551# Jh!!p:FF,,,#c!li!e#comF0al#h!mK# Ep!ein3 9# #3 I Birchard3 B# &4555+# Counting What Counts: urning Corporate Accountability to Co!petitive Advantage# Cam0ridge3 9A: Pereu# Re!rie.ed 9a% 43 45513 'rom Mue!ia da!a0ae: h!!p:FF,,,#ue!ia#comFP9#!?aoId1161G4G a%3 # A# &"667+# "oundations of Corporate Success: #o$ %usiness Strategies Add Value# O<'ord: O<'ord ni.eri!% Pre# Re!rie.ed 9a% 43 45513 'rom Mue!ia da!a0ae: h!!p:FF,,,#ue!ia#comFP9#!?aoId46576"16 9ilga!e3 9# A# &455G+# ransfor!ing Corporate Perfor!ance: Measuring and Managing the &rivers of %usiness Success# =e!por!3 CT: Praeger# Re!rie.ed 9a% 43 45513 'rom Mue!ia da!a0ae: h!!p:FF,,,#ue!ia#comFP9#!?aoId"""G42 (9iion3 iion and alue)# The Coca Cola Compan%3 4552# 4" 9a% 455# Jh!!p:FF,,,#!hecocacolacompan%#comFourcompan%Fmiion.iion.alue#h!ml K#
S!e.en3 P#3 S!o/e3 L#3 I O9ahon%3 9# &4552+# 9e!ric3 Targe! and Per'ormance# 'ational Institute (cono!ic )evie$* &"6+3 15Q# Re!rie.ed 9a% 43 45513 'rom Mue!ia da!a0ae: h!!p:FF,,,#ue!ia#comFP9#!?aoId75"22"41K# Schneiderman3 A#9# &4552+# uggling Balanced Scorecard 9e!ric3 Arthur Schneider!an Website+ 4 ma% 4551# J h!!p:FF,,,#chneiderman#comFTheAr!o'P9F>uggling9e!ricF>ugglingme!ric#h!mK# Sha,3 R# &4555+# Shareholder alue or S!a/eholder alue? Tha! i !he Mue!ion# $nShareholder Value Manage!ent in %an,s - 3 Schu!er3 L# &Ed#+ &pp# 2-null"5+# Ne, Yor/: S!# 9ar!in Pre# Re!rie.ed 9a% 43 45513 'rom Mue!ia da!a0ae: h!!p:FF,,,#ue!ia#comFP9#!? aoId"54G761
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