The Balanced Scorecard Approach

Coca-cola follow (hereafter referred to as the Company or the Organization) is the owner of four of the worlds top five nonalcoholic scintillation boozing brands known to almost e precise American. Coca-cola was established in 1886 and presently, it is operational in at least 200 countries having at the minimum 90,500 associates worldwide and suffice 1. 5 billions ( The Coca-cola 2008 p. 1 )of customers each day .The Companys overall goal, which is its mission is to refresh the world in body, mind and spirit, inspire moments of optimism through their brands and actions and to realise value and make a difference in all their engagements ( Mission, Vision, 2006) The Company is a manufacturer and seller of soft (carbonated) drinks with various brands, the most popular of which is the criterion brand, Coke. In assessing its success, the Organization does not only count its monetary sales and profits but as well as its effect to the world in general.Coca-cola Company tries to be ope n and accessible to everyone who needs information on anything it does. Financial records, company information, customer-goal, investor values and press releases argon all accessible at the Companys website, www. thecoca-colacompany. com. Aside from the abovementioned mission, the Organizations vision include the following (Mission, Vision, 2006) ? People Being a great place to work where hoi polloi are inspired to be the best they can be. ? Planet Being a responsible global citizen that makes a difference.? Portfolio Bringing to the world a portfolio of beverage brands that anticipate and satisfy peoples desires and needs. ? Partners Nurturing a winning network of partners and building mutual loyalty. ? Profit Maximizing return to shareowners while being mindful of our overall responsibilities Moreover, the Companys strategies are incorporated in its values which include the following ? Leadership The courage to shape a better future ? Passion attached in heart and mind ? Integrit y Be real ? Accountability If it is to be, its up to me ? Collaboration Leverage collective genius? Innovation Seek, imagine, create, delight ? property What we do, we do well SLP II. Indeed, customer is very important. Without a customer, any financial organization would not survive As Coca-colas way to retain real customers and to encourage potential ones they have the following guidelines Vision Bringing to the world a portfolio of beverage brands that anticipate and satisfy peoples desires and needs. Mission Refresh the world in body, mind and spirit. Strategy What we do, we do well To follow the guidelines and achieve what it wants, a set of very specific objectives must be met.The achievement of customer take objective, which includes the satisfaction of customers, their retention, and larger market share (The Balanced Scorecard) makes the business perform better. Why is the customer very important? Because there is a direct correlation coefficient between financial results and customer. (Shaw, 2000, p. 37) The Company, to satisfy its mission and vision, through its strategies for its existing and potential customers, the following objectives are setul ? To satisfy customers with the gratifying taste of high quality products? The first appearance to customers of products with diverse and fortified products that are healthier. ? Production of healthy beverages lines which are tasty yet they are not damaging to health. The three objectives above are very important. The Company has acknowledge that obesity and other health problems (The Coca-cola, 2008, p. 12) may endanger the potential income of the Company as well as its name, which can be dark to a company that established reputations world-wide, and branding has enabled international reputations to be created (Kay, 1995, p. 15).Looking from these objectives, it can be seen that the third one is the most specific of the three. production of healthy beverages lines which are tasty yet they are not da maging to health would result to the introduction of products taste diversity and fortification making them healthier that would make customers pleasant with gratifying high-quality (healthy) beverages. This achieves the strategy of the Company stating, What we do, we do well and also its mission stating. Refresh the world in body, mind and spirit an unhealthy drink would not satisfy the mind and spirit.