Globalization, Innovation and Diversity within the
Coca-Coca Cola Beverage Company
External and Internal factors have broadly different affects on the four functions of management, (planning, organizing, leading, and controlling) in an organization. A company must first recognize the difference between the two, external and internal factors. External factors are all relevant forces outside a firm's boundaries, such as competitors, customers, government entities, and the economy. Internal factors are located within the company, such as employees, quality of the product or service the company provides, financial status, and stakeholders. This paper will describe how three separate factors, "Globalization, Innovation, and Diversity" affect the four functions of management within the Coca-Cola Beverage company.
Innovation is when a company such as Coca-Cola invents new ideas to continue to appeal to the public. Coca-Cola needs innovation to keep their sales high and to continue to give the people what they desire. Some examples of innovative ideas Coca-Cola has come up with are as follows; C2 is a new low carbohydrate, low calorie soft drink that was invented to appeal to dieters that want to lower their carbohydrate intake.
Another example of innovation for Coca-Cola is their buy one get one free Astroworld coupons that can be found on the back of any Coke can. This was a brilliant idea to appeal not only to children but to parents as well. Parents save money with this promotion and children get entertainment for half the price, and lets face it, we are living in an era where everyone is trying to save a buck. Therefore, Coca-Cola is most likely on top of the market with their cleaver innovative concepts. Innovation impacts the four functions of management a great deal. First you have to come up with new plans and ideas to draw the public to your...