Business Strategies of Coca-Cola : Report
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Added on 2020-01-07
Business Strategies of Coca-Cola : Report
Added on 2020-01-07
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RESEARCH PROJECT:COMPETITIVEINTELLIGENCE
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Background of the study.........................................................................................................2Aims and objectives...............................................................................................................8Research methodology...........................................................................................................9Research findings and analysis.............................................................................................11CONCLUSION AND RECOMMENDATION.............................................................................13REFLECTIVE STATEMENT.......................................................................................................14REFERENCES..............................................................................................................................15APPENDIX....................................................................................................................................18Interview Questions.............................................................................................................18Transcript.............................................................................................................................19
INTRODUCTION Complex business environment and changing market trends has raised the competitionlevel widely in the economy. It has created an considerable impact on business planning andstrategic development. Market expansion and international business operations are the integralpart of commercial activities in the present era. The impact of expansion and growth has helpedthe companies in developing a clear and well measures means of development (Dishman andCalof, 2008). Sustainability of business operations and managing a competitive edge in themarket are few key challenges that business face in the present era. As the level of competition isbecoming fierce and market norms are becoming flexible, companies are adopting new measuresand technologies to maintain a competitive market position. Competitive intelligence is a systematic and organised approach adopted by the businessfirms where by companies collect, diagnose, understand, analyse and disseminate informationabout products, services, competitors, strategies, consumers, trends etc. to the management of thebusiness. This information is later used for planning, organizing and developing businessstrategies and tactics to enhance growth within the market (Fleisher and Blenkhorn. 2013).Competitive intelligence is a kind of system under which data is collected and analysed by thebusiness firms. On the basis of analysis of data intensity of competition is identified. In order toformulate a strong business strategy it is inevitable to analyse data. Facts provide lots ofinformation and bring many untouched and unidentified aspects of the rival firms’ businessstrategies. According to Dishman and Calof,(2008) different business units are adopting welldeveloped means of competitive intelligence in order to forecast the move of the competitor,make successful business decisions, attain internal business information and identify gaps inmarket based planning. Coca-cola is one of the largest soft drink manufacturer and distributor in the world. It hasdeveloped a renowned global brand image in the market and has attaining the highest marketshare in the world. Coca-cola has developed wide demand and business growth measures withinthe economy. It has developed largest supply chain within the economy and it business strategiesare highly innovative and planed. Coca-cola has a keen focus on changing market forces. Thestrategic business operations of the company focuses on attaining market analysis through aclose perspective and develop a well measures result as well (Nasri, 2011). The exclusivebusiness strategies of the business and exclusive marketing strategies are well known for1
business growth and development in the market. The business strategies of the company thus areplanned and managed accordingly (Pelissier, 2008). The company has been selected in order todevelop a strong foundation for the present study. Competitive business intelligence has helpedthe business in developing marketing and business strategies for growth and marketdevelopment. Hence, the same will be analysed and determined to attain business results. The present research strategy is an attempt to create an intensive study on competitivebusiness intelligence and its impact on organizational success. It will focus on evaluating theintensity of business data and issues related to the subject. Researches and data has helped inanalysing that competitive analysis has helped the business units in creating a wide impact onbusiness development and strategic business growth. It also helps in anticipating competitorsbusiness strategies (Qiu, 2008). By collecting and analysing data, companies measure impact ofchange in business strategies on the organization’s profitability. Hence, competitive intelligenceplays an important role in growth of an organization. Background of the studyCompetitive intelligence2Illustration 1: Competitive intelligence overview(Source: Helm, 2011)
According to Myers, 2013 competitive intelligence is the systematic business approachused for collection, assessment and integration of information for attaining valuable and welldeveloped business results. Tools such as online data analysis, consumer survey, market analysis,social media, web analysis etc. are used by the companies these helps in developing effective andvalid research results. According to Xu and Mark (2007) competitive intelligence to a largeextent affects business performance and it brings positive change in the same. This is becausecollection and analysis of data under competitive intelligence gives a direction to an organizationand also shows a path in which a firm must follow in order to formulate a business strategy. Incontrast to this, it asserts that use of competitive intelligence does not guarantee that anorganization is on the right track. Thus, Saayman and et.all. 2008 analysed that competitiveintelligence is a useful and smart planning tool however low market intelligence and knowledgemay be dangerous for the same. Hence, for definite business results proper implementation andeffective understanding of the tool is significant in the company. Hughes, Le Bon and Rapp,(2013) analysed CI as a most effective means of data collection and information tool for thebusiness which help the companies in developing high and well developed strategies forattaining high and competitive position within the market. It is an effective and well developedcompetitive approach for the business which has a definite contribution in strategic and tacticalbusiness decisions on a regular basis. Role of competitive intelligenceSaayman and et.al (2008)asserts that corporate intelligence helps in identifying threatand opportunities in the business environment. In corporate intelligence, data is collected aboutchange in business strategies in alignment to change in business environment. By analysing datacurrent trend is identified and it is compared with previous data. Positive and negative changes inon comparison of facts related to business environment helps in identifying threats andopportunities in the market (Wright, 2014). Thus, in this way corporate intelligence helps inidentifying threats and opportunities in the market. Not only this it also assists in detecting thecompanies that takes first moves in relation to change in the business environment. Hence,observation of trend helps business in identifying perfect time when they must bring change intheir business strategy.3
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