It is required to have systemized study of the business processes in order to incorporate new business model. Hence it became possible to promote environment sustainability and introduce innovation in business models. A new business model is capable enough to make us of the existing product of the company in an effective way. Hence, use of the products becomes socially and environmentally favorable. For example a business model that align user motivation towards the environmental effect of their use, can make the existing technologies and product more sustainable. There are different characteristics of incorporating internet. These characteristics are different to some extent form the traditional technology characteristics. Therefore, every business organization now a day needs to be paired with the innovative technologies in order to facilitate the commercialization along with scaling and adoption of the innovative technologies.
To reduce the carbon emission, Coca Cola chose to work with Carbon Trust. Carbon Trust is a technical author of PAS 2050 (Standard that is known worldwide to measure Greenhouse Gas emission from services and product manufacturing) and global authority, who is engaged in management of carbon reduction. The Coca Cola has their own sustainability framework, known as “me, we, world”. This framework is their shared vision to work collaboratively. Hence, it became possible to create social value to make positive difference for the communities and for the customers they serve (Aarikka-Stenroos and Sandberg, 2012).
Their goal is to maintain programs based on physical activity program in more than 200 markets. Coca Cola has took a great step in packaging initiatives with a focus on innovations and recycling programs, such as PlantBottle packaging. This innovation was about the scalable plastic bottles that are made partially from plants. Some it becomes challenging when the overall progress go slow. For example, Company Coca Cola has aimed to source 25% percent of PET plastics from renewable and recycled material by the year of 2015. But they have reached up to 6% of by the year of 2014. One obstacle was found to use the recycled material in drink packaging, due to the regulatory restrictions. Again, the high cost of recycled plastics is a bothering fact due to higher demand of recycled plastics (Cayogyog, 2012).
Coca Cola have stated that the company has the strong growth opportunities due to nonalcoholic ready-to-drink beverage industry, as people are shifting from the rural to urban areas. Hence there are number of challenges are there to the company from heaviness of stresses water supplies to less active lifestyle. The Coca Cola Company is taking appropriate action to conquer these challenges with the consistent supply of refreshing and high quality beverages. The company believes their involvement in risk mitigation and undertaking new business opportunities with the help of the sustainability effort (Coad, 2012).
According to the article of Andrew L. Shapiro, 2010, Coca Cola and its bottling partner manufacture more than 3000 beverage product across the globe. During Andrew’s meeting with Kent and his team Andrew come across the news on coke’s latest sustainability with some key suppliers.
According to Andrew, Coca Cola have challenges in the key area of environment and health. There is a growing concern is about the heaviness of mixing sugar in its drinks. The complete scale of business is understood with the significant use of energy, water, recycled material in the packaging, petroleum based plastics in production (Corallo et al., 2014).
To address all these issues, the company has adopted a broad-ranging strategy on sustainability that comes under the approach Live Positively. It covers the workplace, environmental, marketplace and community initiatives. According to Kent where the population and gradually decreasing natural resources and where the customer expectations are increasing gradually, sustainability is the interior in the business of the Coca Cola to continue the business and its survival. According to Muhtar Kent, Coca Cola’s 2020 vision is the integral part with the sustainability. Coca cola’s road map for winning is the strategy related to their renewable bottles that are made of renewable materials. Even Kent have discussed about water as the environmental issue, managing carbon level (Libecap, Thursby and Hoskinson, 2010).
Coca Cola has achieved global value share in nonalcoholic ready-to-drink beverages in the quarter. In addition Coca Cola has achieved shares in the juice, juice drinks, package water and ready-to-drink tea. As the company Coca Cola has aimed to strengthen product portfolio and their brands across the market.
Volume of Global Sparkling beverage grew 1% for the whole year and for the quarterly also in the brand of Sprite, Fanta and Coca Cola (Machrafi, 2012).
Global beverage volume grew 4% in a whole year and 2% in quarter due to the growth in ready-to-drink tea, packaged water, sports drinks.
Coca Cola continue to make their product portfolio stronger by adding Gold Peak Tea, LOHAS mineral water, FUZE tea in the portfolio of Coca Cola (Mulvaney, 2011).
The First quarter of 2014 financial results were influenced by a single less selling day and financial results of fourth quarter of 2014 was influenced by one extra selling day. As the average daily sales computation positioned above, the unit case volume results on quarters are not influenced by the inconsistency in selling days.
Coca Cola’s Company Report has shown it financial results in agreement with the accounting principles affiliated by GAAP (Generally Accepted in the United States). Management team of Coca Cola is also concerned about the non-GAAP financial measurement to provide meaningful information about the company’s financial position to the user. Hence the information can help to assess company’s ongoing performance. Non-GAAP financial measure is also used to take effective planning, operating and financial decision (Perry and Stone, 2011).
With the upcoming trend of havoc internet use make it became possible for Coca Cola to allow advancement in the sustainable technology that has exceeded the business model development. Innovative technology aided firms often come with economic characteristics in the form of sales cost functions, cash flow profiles, risk profiles and so on. These characteristics are different to some extent form the traditional technology characteristics. Therefore, every business organization now a day needs to be paired with the innovative technologies in order to facilitate the commercialization along with scaling and adoption of the innovative technologies (Prenkert, 2012).
The Coca Cola Company is taking appropriate action to conquer the challenges to manage sufficient power, water, with the consistent supply of refreshing and high quality beverages. The company believes their involvement in risk mitigation and undertaking new business opportunities with the help of the sustainability effort.
The Coca Cola Company has adopted a broad-ranging strategy on sustainability that comes under the approach Live Positively. It covers the workplace, environmental, marketplace and community initiatives. According to Kent where the population and gradually decreasing natural resources and where the customer expectations are increasing gradually, sustainability is the interior in the business of the Coca Cola to continue the business and its survival. Coca Cola has took a great step in packaging initiatives with a focus on innovations and recycling programs, such as PlantBottle packaging. This innovation was about the scalable plastic bottles that are made partially from plants.
Aarikka-Stenroos, L. and Sandberg, B. (2012). From new-product development to commercialization through networks. Journal of Business Research, 65(2), pp.198-206.
Cayogyog, A. (2012). Research Commercialization and Economic Sustainability: Basis for Establishment of Research Utilization Office in Universities. iamure.ijbm, 4(1).
Coad, J. (2012). Green technology. Chicago, Ill.: Raintree.
Corallo, A., Errico, F., Esposito, M. and Lazoi, M. (2014). The role of knowledge in the new product development process through the perspective of business model. IJCENT, 4(4), p.249.
Libecap, G., Thursby, M. and Hoskinson, S. (2010). Spanning boundaries and disciplines. Bingley, U.K.: Emerald.
Machrafi, H. (2012). Green energy and technology. [Sharjah, U.A.E]: [Bentham Science Publishers].
Mulvaney, D. (2011). Green technology. Los Angeles: Sage Publications.
Perry, J. and Stone, R. (2011). In the Business of Dying: Questioning the Commercialization of Hospice. The Journal of Law, Medicine & Ethics, 39(2), pp.224-234.
Prenkert, F. (2012). Commentary to â€œFrom new-product development to commercialization through networksâ€Â. Journal of Business Research, 65(2), pp.207-209.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION. (2013). 1st ed. [ebook] Available at: https://assets.coca-colacompany.com/d0/c1/7afc6e6949c8adf1168a3328b2ad/2013-annual-report-on-form-10-k.pdf [Accessed 31 Mar. 2015].
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