Essay: Role Of HR, Marketing, And Finance In Coca Cola Business.

Produce an essay analysing how the functions of Human Resources, Marketing and Finance support the strategy, aims and objectives of business organisations.

Your essay should provide examples from your business and its sectors together with evidence of wider personal reading supported by academic references. The essay should give evidence from one of the following companies that you have studied: Apple, Volkswagen, McDonald's and Coca Cola. 

Research at least one of the above businesses and link your background knowledge to the businesses with examples. 

The objective of the paper is to analyse the role of human resource, marketing and finance in the business of Coca Cola. The Coca Cola Company is a beverage company that owns and markets certain non-alcoholic beverage products. The company has its business segments in Middle East, Europe, Latin America, Asia Pacific and Europe. The company develops its beverage goods accessible to customers in the world by means of company network with distribution operations and retailers (Gade, 2016). Beverage partners of the company distribute and advertise its products in all the nations all through the world. Mission and vision statement of the company is focussed on refreshing the world within body, mind and spirit. Vision of Coca Cola is focussed on inspiring the moments of happiness and optimism through offering unique actions.

Recruitment and selection process of Coca Cola considers selecting the types and number of employees those are interested to apply for job in the company. Internal recruiting process is followed by the company that seeks candidates for positions that belongs to ranks of the one’s that is recently employed. This helps in improving the motivation, flexibility of its employees through reducing the training time and ensuring performance work system characteristic (Grinblatt & Titman, 2016). Human Resource Management of Coca Cola includes consideration of media advertisement, e-recruitment, employment agencies and special events recruitment. The management of the company does not prefer external recruitment and the major focus is on the internal recruitment. The job preview procedures of Coca Cola Company are setting job anticipations realistically, work experience with confirming expectations and maintaining increased job survival along with sustaining infrequent quitting thoughts. The company has attained competitive advantages through maintaining highly effective human resource management by sustaining efficient work during working hours and through maintaining work life balance (Halder, Ganguly & Singh, 2016). Competitive edge is attained by the company through maintaining and managing all its employees’ files that encompass database maintenance for ensuring candidates data collection. Based on the recruitment process of the company is performing well in soft drinks sector in comparison to all its business rivals.

Training and development process of Coca Cola includes process of coaching and conference. Coca Cola considers that the coaching process of the business leaders has been carried out with employees those have great experience within the field that has probably have indicated Coca Cola to shape up on the career. Coaching to the business leaders must be finished with a person in Coca Cola who have tremendous involvement in the field and presumably have seen many organizations getting down to business on his profession. This is simply to clean the abilities, after that give direction in basic leadership and protest taking care of when settling on and business choice or an arrangement (Hassan, Amos & Abubakar, 2014). Like the business colleges meets, companies like Coca Cola have their own meetings orchestrated at different business areas. These aides in business leaders interface with different pioneers over the globe. Guided discussion and storytelling method is used in Coca Cola Company. This serves, as more a practical way of learning the things rather than just be a theoretical way of training that takes through various slides or modules. This helps the employees to come out with the new ideas that can be implemented for business needs.

Training and Development Process

Coca-Cola offers financial rewards to propel workers to achieve more noteworthy zeniths. Remuneration is aggressive. Consistently, representatives have execution audits that allow them to get justify raises. A Coca-Cola Red Tag program rewards workers with travel and stock as an approach to perceive outstanding execution (Iwamuro et al., 2014). Workers additionally get educational cost repayment, and their kids can meet all requirements for grant stores. Auto rebates, free stopping and representative markdown programs are additionally advertised.

The Coca-Cola Company’s non-financial rewards esteems the wellbeing and prosperity of our representatives and gives an assortment of market-focused advantages projects to address workers' advantages needs. The company’s aggregate rewards bundle is much respected and is intended to meet workers' fundamental and extraordinary advantages needs. As market progression develop, the Company consistently evaluates our advantages projects to guarantee representatives get those advantages they esteem and are furnished with various choices that address the issues of people and families and advance solid ways of life (Karnani, 2014). That is the reason the organization takes an all encompassing perspective of the considerable number of components to compensate and perceive workers to guarantee an entire, thorough bundle of pay, advantages and learning and advancement programs, including Coca-Cola University—all intended to unleash the company’s maximum capacity.

Soft drinks (non-carbonated refreshments, for example, water, juices, and teas) have been extremely prevalent as of late in view of developing concerns encompassing the wellbeing impacts of shimmering items (regularly sugary soft drinks). Coca-Cola now has 20 brands with over $1 billion every year in deals (Mazur, 2014). This differing item portfolio makes huge operational broadening, and protects the organization from any downturns in enthusiasm for any single one of their item. Coca-Cola is a genuine monster in the refreshment business. With over 130 years of serving clients, the organization has scaled up to an amazing size. Right around 22,000 Coca-Cola drinks are devoured each second.

Coca Cola is world's driving soft drink creator and works in more than 200 nations around the globe. It offers an assortment of shimmering and still drinks. It produces 60% of its income and around 80% of its working benefit from outside the United States. It has solid brand acknowledgment over the globe. As indicated by business insider, roughly 94% of the total populace knows about the red and white logo of Coca Cola. Coca Cola intended to fulfil the shopper's needs (Mishra & Mishra, 2017). The organization can give beverages to a wide range of target markets: ages, genders, and so on. The items are sold to differing populace all around the globe. In our reality today, individuals need to live more advantageous lives. Coca Cola perceived this need and started to deliver distinctive drinks that are fulfilling those buyers. Various classes obtain Coca Cola items, however primarily by centre to abnormal state class. Coca Cola Zero-targets teenagers that do not need calories however need the taste. Juice made for the more youthful working grown-ups, between the ages of 20-30. The item is accessible in various flavours (berry, lemon, and orange tangerine). It's for the most part famous in Britain and Ireland (Pendergrast, 2013).

Financial Rewards

Coca Cola has deliberately situated itself inside the world beverage market. It confronts an essential inquiry: does it need to keep a similar situating or to adjust as per the 200 nations where the brand offers its items. The brand has comprehended this rule while back: "think worldwide, act neighbourhood". Coca is along these lines willing to keep a similar centre item which is coke, yet it adjusts the offer to neighbourhood needs (Scrinis, 2016). They utilize vital situating keeping in mind the end goal to have a similar picture all around the globe, which is a win since it is seen today as a piece of day by day life all over the place. This view of the brand by the buyer prompts a high level of steadfastness and settles on the buying choice more programmed. Coca Cola has been effective by utilizing Unique Selling preposition word as "Carry on with the coke side of life", identified with delight and bliss. Shoppers essentially connect this brand with these feelings. At the point when the name of Coke is specified, the main thing that comes into mind is fun and excitement.

Coca Cola offers a renowned brand and wide arrangement of beverages to its clients, and consistently investigates promising drink classifications to catch development in its diverse markets. Its refreshment portfolio comprise of carbonated beverages, filtered water, juices, orangeades, iso-tonics, teas, caffeinated drinks, drain, espresso and even brew in a few markets, for example, Brazil (Smarandescu & Shimp, 2015). Coca Cola firmly has confidence in participative promotion making shared esteems for all partners. Tailoring its broad arrangement of items and bundles for their stores in view of the neighbourhood market's financial socioeconomics, significant utilization event and the store's unmistakable attributes are considered by Coca Cola in its marketing strategy.

• Product- The organization has the amplest portfolio in refreshment industry involving 3300 items. Refreshments are separated into count calories class, 100% organic product juices, natural product drinks, water, caffeinated beverages, tea and espresso and so on.
• Price- Due to the accessibility of wide range items, the evaluating is finished by the market and geographic section. Each sub-brand of coca cola has distinctive estimating technique. Their estimating system depends on the contenders evaluating, Pepsi is the immediate contender to coke (Svendsen, 2013).
• Place- Coca cola is the world's most loved brand and is accessible everywhere throughout the world. The appropriation arrangement of coca cola takes after the FMCG conveyance design. The powerful dispersion system of coke has practically disintegrated the little and centre level players in the market.
• Promotion- Coca cola receives different publicizing and limited time strategies to make an expanded request in the market by partner with way of life and conduct and for the most part focusing on esteem based promoting. It can will probably be observed a coke promotion individualized for a specific celebration or in with a general positive message (Mishra & Mishra, 2017).

Financial strategies of Coca Cola considers to raise financing through completely possessed Dutch financing auxiliary Coca?Cola HBC Finance B.V., aside from on account of auxiliaries with joint control, or nations where certain legitimate or duty confinements or points of interest apply, in which case financing at bring down levels in the association might be considered (Hassan, Amos & Abubakar, 2014). Coca Cola frequently utilize subsidiary items like advances, alternatives and fates yet these are exclusively utilized with the end goal of supporting fundamental exposures to remote money conversion standard hazard, and loan cost hazard and products' estimating instability. None of these money related instruments are utilized, utilized for exchanging purposes or taken as speculative positions.

Market Positioning and Unique Selling Proposition

Coca-Cola is a standout amongst the most all around dynamic global organizations, inferring 80 percent of its deals from outside the U.S The Strategic Positioning of Coca Cola either approach too extraordinary to be in any way down to earth and desires multinational advertisers to scan for the correct harmony amongst institutionalization and adjustment. Coca-Cola's centre "worldwide" brands are essentially institutionalized, however with various adjustments occurring (Smarandescu & Shimp, 2015). Despite the fact that the organization may make progress toward a much institutionalized key approach, drawing on the related economies of scale, in all actuality they are following the Integrated Adapt Stand approach. The organization's adequacy and gainfulness is clearly all around bolstered by their solid focused position and piece of the pie in their essential item advertise – Coca-Cola.

Working Capital likewise appears if the organization has adequate fluid assets to fulfil here and now liabilities and operational expenses. The Coca Cola Company has Working Capital of 6.47 B. This is substantially higher than that of the Consumer segment, and fundamentally higher than that of Beverage Manufacturers industry, The Working Capital for all stocks is more than 1000% lower than the firm (Mishra & Mishra, 2017).

Conclusion

The objective of the paper was to analyse the role of human resource, marketing and finance in the business of Coca Cola. It was gathered from the paper that internal the company that seeks follows recruiting process candidates for positions that belongs to ranks of the one’s that is recently employed. This helps in improving the motivation, flexibility of its employees through reducing the training time and ensuring performance work system characteristic. Moreover, the paper revealed that the organization could give beverages to a wide range of target markets: ages, genders, and so on. The items are sold to differing populace all around the globe. In our reality today, individuals need to live lives that are more advantageous. Coca Cola perceived this need and started to deliver distinctive drinks that are fulfilling those buyers.

References

Gade, A. (2016). Corporate Social Responsibility: Moving forward from Charity to Responsibility: A Case study of Coca Cola India. TIMSR Journal of Management Research, 139-143.

Grinblatt, M., & Titman, S. (2016). Financial markets & corporate strategy.

Halder, S., Ganguly, D., & Singh, V. P. (2016). Design Process and Its Application on the Improvement (Re-Design) of the Coke Bottle. International Journal of Advanced Packaging Technology, 4(1), pp-185.’

Hassan, D. N., Amos, A. A., & Abubakar, O. A. (2014). An evaluation of marketing strategies undertaken by Coca Cola Company as a multinational corporation in Nigeria. Journal of Business and Management, 3(2), 5-10.

Iwamuro, M., Kawai, Y., Shiraha, H., Takaki, A., Okada, H., & Yamamoto, K. (2014). In vitro analysis of gastric phytobezoar dissolubility by coca-cola, coca-cola zero, cellulase, and papain. Journal of clinical gastroenterology, 48(2), 190-191.

Karnani, A. (2014). Corporate social responsibility does not avert the tragedy of the commons. Case study: Coca-Cola India. Economics, Management and Financial Markets, 9(3), 11.

Mazur, B. (2014). Sustainable Human Resource Management in theory and practice. Ekonomia i Zarz?dzanie, 6.

Mishra, K., & Mishra, A. (2017). Building brand engagement through Twitter marketing strategies. Journal of Digital & Social Media Marketing, 4(4), 380-390.

Pendergrast, M. (2013). For god, country, and coca-cola. Basic Books.

Scrinis, G. (2016). Reformulation, fortification and functionalization: Big Food corporations’ nutritional engineering and marketing strategies. The Journal of Peasant Studies, 43(1), 17-37.

Smarandescu, L., & Shimp, T. A. (2015). Drink coca-cola, eat popcorn, and choose powerade: testing the limits of subliminal persuasion. Marketing Letters, 26(4), 715.

Svendsen, S. E. (2013). Refresh. Create. Inspire: A Rhetorical Analysis of the Mission, Vision and Values Behind The Coca-Cola Company and the Digital Marketing Strategies of the" Open Happiness" Campaign (Doctoral dissertation, Liberty University).