STRATEGIC MANAGEMENT PROCESS/VISION, MISSION, GOALS AND OBJECTIVES
The MGT599 Case is an ongoing exercise, meaning that we will be thoroughly reviewing one company throughout our four modules. This session, we will be conducting a strategic analysis of the Coca-Cola Company.
Most companies have something that resembles a vision, mission, or set of values; or stated goals/objectives that define who the company is and how the company plans to do business. However, organizations may not always label these statements properly �calling a vision a mission, or calling their values a set of beliefs. Sometimes, companies do not have a mission statement at all, operating instead on a set of goals.
Hammonds, K. (2007). Michael Porter’s big ideas. Fast Company, 44. Retrieved on August 27, 2014, from https://www.fastcompany.com/magazine/44/porter.html
In this assignment, you will be critically evaluating the vision, values, mission statement, and goals/objectives of the Coca-Cola Company.
Keys to the Assignment
After studying the background materials and completing the SLP, you are in an excellent position to evaluate a company’s published mission, vision, values, and objectives/goals. This Case asks you to begin your strategic analysis of the Coca-Cola Company by evaluating the company’s mission, vision, values, and goals. To do this, observe the following procedure:
� Step 1: Visit the official website of the Coca-Cola Company and identify the company�s vision, mission, values, and goals. (Hint: You’ll need to do some exploring and a certain amount of speculation�as the terms “vision” and “mission” (and sometimes even the term “company goals”) are used interchangeably. Explore the “Our Company” and “Investors” links. Also, be sure that you look closely at the most recent Annual Reports.
� Step 2: Critically evaluate the mission, vision, values, and goals (again, you’ll likely need to make decisions as to which is which). Use the criteria in the background materials to support your assessment of the quality of the company’s mission, vision, values, and goals.
� Step 3: Determine which (if any) of the elements consider the goals and needs of specific stakeholder groups. Write down any examples.
� Step 4: Consider what changes are needed to improve the vision statement, the mission statement, the statement of company values, and the company’s objectives and goals.
� Step 5: Write a 6-7 page paper addressing the above requirements. You must meet minimum length requirements, by responding to each step above with precision and with depth of critical thinking.
NOTE THE FOLLOWING REQUIREMENTS AS WELL:
1. Use of proper APA style is required in this course. Therefore, prepare your Case with proper documentation of sources, using in-text citations and a complete end reference list. Refer to the Well-Written Paper guide if you are not familiar with APA style.
2. Consider the Case as a formal business report that you are developing for the Board of Directors and CEO as the Coca-Cola Company consultant. This is a professional document. Follow the format below:
3. Note: You must use section headings to respond to all major requirements in all papers. Your section headings should appear similar to the following:
o Executive summary: This is a synopsis of the main points, conclusions, and recommendations made in the longer report. If you have never written an executive summary before, or would like a refresher, check this link: https://www.highendfinance.com/CommercialLoans/Docs/07-4%20ES%20Guidelines.doc
o Introduction: State the main purpose of the paper (thesis statement), what you hope to accomplish, and how you will go about doing it.
o Main Body: The “meat” of the paper. Emphasize analysis, not just description. Don�t just give me facts � interpret them! Delineate separate topics or sections with appropriate use of headings.
� Executive Summary
� Company’s Mission Statement and Analysis
� Company’s Vision and Analysis
� Company’s Values and Analysis
� Alignment of Company’s Mission, Vision, Values, and Goals with Stakeholders’ Interests
� Recommended Changes
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Guidelines for writing the executive summary. (n.d.). High End Finance. Retrieved on August 27, 2014, from https://www.highendfinance.com/CommercialLoans/Docs/07-4%20ES%20Guidelines.doc
Hammonds, K. (2007). Michael Porter’s Big ideas, Fast Company, (44), Retrieved on August 27, 2014, from https://www.fastcompany.com/magazine/44/porter.html
Heathfield, S. M. (2009). Build a strategic framework: mission statement, vision, values. About. Retrieved on August 27, 2014, from https://humanresources.about.com/cs/strategicplanning1/a/strategicplan.htm
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Luca, A. M. (2007). Strategic Management. Power Point Presentation.
McNamara, C. (2009). Basics of developing mission, vision and values statements. Free Management Library. Retrieved on August 27, 2014, from https://www.managementhelp.org/plan_dec/str_plan/stmnts.htm
McNamara, C. (2009). Developing your strategic plan. Free Management Library. Retrieved on August 27, 2014, from https://www.managementhelp.org/np_progs/sp_mod/str_plan.htm
Rehman, A. (2014). Cost-Volume-Profit relationship (CVP Analysis). Accounting for Management. Retrieved on August 27, 2014 from https://www.accountingformanagement.com/cost_volume_profit.htm
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The strategic planning process. (2010). Quick MBA. Retrieved on August 27, 201, from https://www.quickmba.com/strategy/strategic-planning/
Welch, J., & Welch, S. (2008). State your business: Too many mission statements are loaded with fatheaded jargon. Play it straight. Bloomberg. Retrieved from https://www.bloomberg.com/bw/stories/2008-01-02/state-your-business