Hr Resourcing- wk 8 final project Name: Course: Institution: Instructor: Date: HR Resourcing – wk 8 final project The Coca Cola Company is a multinational company that manufactures and distributes non-alcoholic beverages in more than two hundreds countries worldwide. The company’s mission declares their intention as a company and serves as a measure against which decisions and actions are made. One is to refresh the world with their non-alcoholic beverages and inspire moments of happiness and optimism in people they share in their products. The other is to create value and make a difference in peoples lives. The company’s vision guides and provides a framework that is needed to accomplish continuous sustainability and quality growth of the business.
The vision regarding people is to make the company a great place to work, achieve the best they can be and be inspired to work hard. Another vision is to offer quality beverage brands that meet and satisfy the needs and desires of the people. The other is to create mutual and enduring valuable partnerships with the customers and suppliers to nurture winning networks.
Another vision is to make the world a better place by lending help to support and build sustainable communities. Another vision is to maximize dividends paid to the shareholders in the long term while taking into account the responsibility the company has in the short and long term. The last vision is to strive to be a highly effectively, fast moving and lean company in its production. The value of the company on leadership is to shape the future through courage, collaborate through collective genius, and uphold integrity through being real.
Other values of the company on leadership include accountability by each person taking responsibility, being passionate on commitment through the heart and mind, being diversified as the company is in their brands and maintaining quality by doing well in all that the company undertakes to do. The strategy of the company is to capture opportunities that will ensure sustainable growth that will meet the short-term growth that will ensure the long-term goals are achieved (The coca cola company, 2011). One way of accomplishing these strategies is through exploring new different ways of creating and sharing beverages that will energize, nourish, hydrate, relax and are enjoyable to the people. Another strategy is to maintain trust and presence at the local community level that the company serves and supporting the community’s needs by anticipating and gathering resources to this effect. The other strategy is the increased new brands that have resulted to an increase in marketing budget that is geared to assist retail customers maximize their sales as the company plans for the future (Sparrow 2007, p. 850). The company ensures that the products are manufactured, bottled and distributed according to the companies’ requirements and consumer expectations.
The company operates in an industry that it has been for more than one hundred years. It has established itself as a force to reckon with through the years by producing quality beverages that leave the customers satisfied. Regarding the business life cycle the company has operated on different environment depending on which stage of the cycle it is in. In the beginning, the environment was not favorable since the company was newly established and was at the initial stages of building a market for itself. In the second stage of the business cycle, the company was operating under a fairy favorable environment since it had established its market but was growing steadily by acquiring new customers. In stage three the business had grown and was operating at full capacity, was enjoying many customers and the demand was higher than the supply (Gilkey, 2010). The environment was the most favorable since the company at this stage was enjoying a large market share of customers. This means that the company made a lot of profit, was able to expand in order to meet the demand and grows its assets during this favorable stage.
The last stage of the business life cycle the company experiences a decline due to competitors and strategic change that was influenced by stage three. The company enjoys a big market share but is eager to diverge to other areas, which results to a decline. Nevertheless, the company may re-brand its product for a comeback. In this stage, the environment is favorable but uncertain since the company’s new strategy may work out or not. The Coca-Cola Company’s current reward and pay strategy is reviewed each year to ensure that it is competitive compared to other companies that manufacture consumer goods. The employees are awarded for outstanding performances fairly to ensure that the relationship between employees and the organization remains appropriate.
The company also recognizes and rewards employees who have contributed to the community in line with the company’s vision and values. In addition to the payment, standard benefits are offered that include transport and housing allowance, life and accidental insurance, free annual check ups and a medical cover that covers the employees spouse and children. The company appraises employees annually on their performance according to the organization goals (Likhon, 2011). The employees are rewarded differently to motivate them to work harder depending on individual performance. In addition, the employees are rewarded monthly either for surpassing target sales or for extra ordinary performance monthly and quarterly. This method of rewarding motivates the employees to work hard and achieve the company’s objectives since the rewards come in different forms. Some are rewarded through promotions to higher positions, while others have their salary added and others receive monetary and trophy awards.
The monthly sales target awards ensure that the employees work hard and push up the sales by looking for new target markets, which increase the income revenue for the company. These reward incentives promote career growth for employees that motivates them to continue achieving the objectives of the company in positions of higher authority. The proposed reward and pay strategy would to recognize the employees who have improved their work in the annual appraisal from the previous year.
This will motivate each employee to work hard in achieving the company’s objectives since they are recognized for their effort. Another strategy is to reward the employee who on a monthly basis manages to penetrate new market ventures and expand the sales of the company. This will motivate the employees to improve their marketing strategies and target the untapped market. This strategy will increase the company’s sales and demand since there will be new market to supply to (GAMM 2011, p. 397).
References GAMM, C. O.-P F V 2011. Multi-national and intercultural services organizations and the integration in front of global clients.
Frankfurt am Main, Peter Lang. Gilkey, C July 8 2010, The Business Lifecycle: an Overview, productiveflourishing.com, retrieved from http://www.productiveflourishing.com/the-business-lifecycle-an-overview, February 24, 2012. Likhon, L Jan 19 2011, Performance management and appraisal of Coca-cola, slideshare.net, retrieved from http://www.lib.
uct.ac.za/infolit/harvard26.html, February 24, 2012. Sparrow, P 17 MAY 2007, Globalization of Hr at function level: four UK- based case studies of the international recruitment and selection process, the international journal of human resource management, vol. 18, no.
5, PP. 845-867. The coca cola company, 2011, Mission, Vision & Values, thecoca-colacompany.com, retrieved from http://www.thecoca-colacompany.com/careers/our_vision.html, February 24, 2012.