Coca-Cola Risk Assessment: Evaluating Risks in Manufacturing Sector

This report provides a comprehensive risk assessment of Coca-Cola, focusing on the manufacturing sector. It identifies key risk areas, including the use of technology and ingredients, and discusses factors influencing risk management culture. The report includes a risk register with mitigation actions and responsible officers. It also examines the benefits of effective risk management, consultation processes, and the quality management system used by Coca-Cola, which is the Kaizen theory. Furthermore, the report highlights management, support, and communication strategies, along with relevant policies and legislation. The conclusion emphasizes the need to address the innovation crisis to mitigate present risks. Desklib is a great platform to find similar assignments.

Running head: RISK ASSESMENT OF COCA COLA
RISK ASSESMENT OF COCA COLA
Name of the Student
Student id
Name of the University
Author note

2
RISK ASSESMENT OF COCA COLA
Table of Contents
Description of the organization.......................................................................................3
One Risk area....................................................................................................................3
Factors that influence risk management culture..........................................................3
Reviewing the product......................................................................................................3
Risks Register....................................................................................................................3
What if issue is not mitigated?........................................................................................4
Who is responsible for the risk?......................................................................................4
Benefit of Effective Risk Management...........................................................................4
Consultation used in the area.........................................................................................4
Quality management system used by Coca Coal........................................................4
Management, Support and Communication Strategy.................................................4
Policies, Producers and Followed Legislation..............................................................5
Way of monitoring.............................................................................................................5
Conclusion..........................................................................................................................5
Reference...........................................................................................................................6

3
RISK ASSESMENT OF COCA COLA
Description of the organization
Coca Cola is one of the leading soft drink selling organizations. This company
was established in the year 1886. The community sector that is taken into consideration
are the youth and the middle-aged people of the society.
One Risk area
The area of risk that is taken into consideration is the manufacturing sector.
Manufacturing of the product is taken into consideration as per the risk assessment
process. Technology that is used in the manufacturing of soft drinks are the main
concern (Oetzel and Miklian 2017). Due to issues present in the manufacturing section
the entire business organization has been facing a huge risk.
Factors that influence risk management culture
Factors that influence the risk management culture includes business
demographic factors, quality of the products being provided, and Competitive edge in
the manufacturing department.
Reviewing the product
In Coca Cola the main issue that arises is the ingredients that are used by them.
The ingredients that are used by Coca Cola are not always healthy. This affects the
consumers of Coca Cola in a negative manner.
Risks Register
Id Descriptio
n of Risk
Likelihood Seriousness Grade Mitigation
Actions
Responsible
Officer
1. Lack of
variety in
flavor
Medium Medium B Increase in
variety of
products
Research
and
development
team
2. Usage of
excess
sugar in
order to
maintain
the taste of
the
product.
High Low B Lesse
n the
quantity of
sugar in the
manufacturi
ng process
of the
product
Quality
manager

4
RISK ASSESMENT OF COCA COLA
What if issue is not mitigated?
In case the risks are not going to be managed in a proper manner the entire
business will suffer and competitors will face huge advantage. The likeliness of the
issue is moderate in nature. (Kayabaº Boyraz and Derdiyok 2017).
Who is responsible for the risk?
The research and development team will be responsible for bringing in innovation
in the project, the quality manager of the project will be responsible for checking the
quality of the project.
Benefit of Effective Risk Management
With the help of effective risk management Coca Cola can gain an additive
advantage over the competitive companies.
Consultation used in the area
The consultancy process that is used is online consultancy. It is observed that
the management of the entire process is performed with the help of direct observation
process.
Quality management system used by Coca Coal
Kaizen theory is used by Coca Cola as the Quality Management System.
Strength and Weakness
 The strengths of Kaizen Theory is that the proper recruitment can be performed.
 The weakness of the Kaizen Theory is that the training provisioning is not very
efficient.
Understanding of issues
Fishbone diagram is used by Coca Cola for better understanding of the issues
that are present (Lee 2019).
Management, Support and Communication Strategy
The critical success factors are proper planning that is performed in an efficient
manner in Coca Cola, Processing section is the only section that affects the functioning
of the Research and development section of Coca Cola. Team work performed by the
team members of Coca Cola is also very efficient (Serôdio, McKee and Stuckler 2018).
The power of the management system is also very high. The managers are very
experienced and skilled. Risk and value assessment is also performed in a proper
manner. The risk analysis is performed in a proper manner.
The communication strategy includes creation of official mail ids and
communicating with the same among the employees of Coca Cola.

5
RISK ASSESMENT OF COCA COLA
Policies, Producers and Followed Legislation
Policies that must be used is Human and Workplace Rights Policy which will be
based on the UN Guiding Principle. Stith Pemberton was the owner of Coca Cola,
Warren Buffet has the largest share of the brand.
Way of monitoring
With the help of proper assessment of the products, monitoring of the products
will get easier. Conducting surveys will help in understanding of the demands the
audience base, hence providing them a competitive edge.
Conclusion
From the above discussion it can be stated that Coca Cola is facing an
innovation crisis, which must be mitigated in order to reduce the risks that are present.

6
RISK ASSESMENT OF COCA COLA
Reference
Kayabaº, T.D., Boyraz, G. and Derdiyok, R., 2017. Examining Coca-Cola and Pepsi
Brands under the Basis of Globalisation and Multinational Companies. International
Journal of Academic Research in Business and Social Sciences, 7(12), pp.351-358.
Lee, B., 2019. How Coca-Cola went three-dimensional to revolutionise its package
design workflow to save time, money and foster more creativity. Journal of Digital Media
Management, 7(2), pp.106-114.
Oetzel, J. and Miklian, J., 2017. Multinational enterprises, risk management, and the
business and economics of peace. Multinational Business Review, 25(4), pp.270-286.
Serôdio, P.M., McKee, M. and Stuckler, D., 2018. Coca-Cola–a model of transparency
in research partnerships? A network analysis of Coca-Cola’s research funding (2008–
2016). Public health nutrition, 21(9), pp.1594-1607.