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Marketing Strategy Assignment : Costa coffee

   

Added on  2021-01-01

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Strategy Course Work
Marketing Strategy Assignment : Costa coffee_1

Table of ContentsINTRODUCTION ..........................................................................................................................1Overview of costa coffee.................................................................................................................1Knowledge management overview..................................................................................................2Knowledge sharing, seeking and acquisition at costa coffee...........................................................4Investing in skills and Employment.............................................................................................4Consumer well being...................................................................................................................6Environment responsibility..........................................................................................................7Company's knowledge management practices and strategic decision making................................8Recommendation.............................................................................................................................9CONCLUSION .............................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTION Knowledge management can be defined as the procedure which includes creating,sharing, utilizing as well as managing knowledge and companies information. The purpose ofknowledge management is to help an organization in increasing value. It also intends to supportfirm in fulfilling strategic and tactical requirements. Knowledge management is also consideredto be as multidisciplinary approach of accomplishing business objectives by making the bestutilization of knowledge. It helps in promoting innovation and also assists in bringing positiveimprovement in business procedures.The purpose of report to analyse knowledge sharing, seeking and acquisition at Costacoffee. It also emphasizes on identifying the knowledge management practices and strategicdecision making in an organization. Study will also include evaluation of business entityknowledge management practices.Overview of costa coffeeCosta Coffee is basically a coffee shop Located in United Kingdom. It is basically amultinational company. Various products offered by Costa Coffee are coffee, sand witches, iceddrinks and snacks. Business entity is famous for offering Italian coffee. An enterprise hasapproximately thirty four hundred stores in thirty one countries. Costa coffee also have its storesin other countries as well which provides business entity an ease in delivering goods or servicesto wide number of customers. Objective of Costa coffee is to deliver high level of satisfaction toboth customer and employees (Dalkir, 2013). Company makes huge investment on developingits workers. Business entity provides training and development opportunity to its employees, thisstrategy has enabled firm to retain talented and skilled staff. Recently, The Coca-Cola Companyannounced to acquire the Costa coffee for $5.1 billion from its parent company which isWhitbread PLC. This deal will benefit the Coca cola for providing a strong platform in countrieslike Europe, Asia Pacific, the Middle East, and Africa for delivering coffee products of Costacoffee. This deal was expected to complete in the Fiscal Year 2019. Costa coffee is one of thelargest coffee chain in the entire world and comes at first place in United Kingdom.Costa Coffee was established in London in the year 1971 as a roasted coffee supply chain forsupplying to caterers and Italian coffee shops. The company has expanded in 31 countries with3400 stores. The company has 2,100 stores or restaurants in the United Kingdom along with the6,000 Costa Express facilities and 1,280 outlets in other countries.1
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Knowledge management overviewKnowledge management is referred to as efficient handling of company's information aswell as business resources. It is mainly concerned with development as well as exploitation ofknowledge and organization information for achieving desired business objectives. Knowledgemanagement mainly involves various activities such as developing, sharing, utilization andmanagement of information as well as knowledge. This management activity is crucial in contextof promoting innovation at workplace (Easterby-Smith and Lyles, 2011). Knowledgemanagement is also very much crucial as it helps in exploring as well as capturing businessopportunities. Knowledge management aid manager in identifying the different problems relatedto development, management as well as maintaining infrastructure which is needed for holdingand sharing of knowledge within an organization. An effective knowledge management hasassisted Costa Coffee in improving business performance. Knowledge management hassupported Costa coffee in maintaining its learning capacity in order to remain competitive aswell as innovative. This type of management has positive effect on business. It has helped Costacoffee in improving company effectiveness.The various aspects which make knowledge management possible are culture whichincludes knowledge sharing. Other aspects which supports knowledge management procedureincludes technology, infrastructure etc. The purpose of knowledge management is to supportbusiness entities in bringing positive as well as drastic improvement in procedures. In context ofCosta coffee, an organization has adopted as well as implemented the knowledge managementstrategy. It is basically a plan to which is developed by manager in an enterprise for increasingawareness among workers and assisting employees in developing the understanding about theknowledge management procedure in an enterprise. Knowledge management strategy hasassisted Costa Coffee in accomplishing various strategic as well as tactical objectives. It can alsobe defined as a procedure which enables employees in an enterprise to share, access all businessrelated information (Edwards, 2011). Training is considered to be as the best technique whichcan be implemented in order to provide workers an opportunity to share information andenabling them to get themselves about the new business objectives, policies, plans and strategies.As this tactic will help employees in improving their performance at workplace.In context of Costa coffee, Human resource manager in organization need to provideworkers a tool to make sure that workers can easily share information as well as knowledge2
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