LJ3 learning journal unit 3 PDF

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Globalization is an emerging force in business today. Read the case study about “Globalization and The Coca-Cola Company” located in the Reading Assignment In Section 3.4, the text discusses the “Top 5 Challenge Trends” and “Top 5 Solution Trends.” Select one challenge and one solution trend which you believe is most applicable to Coke’s situation today. Describe how these trends apply to Coke. In Section 3.3, read about the five building blocks of a Learning Organization. Which one of the five building blocks should Coke focus on to capitalize on the trends you selected. Why?

Coca-Cola is one of the best-known brands in the world. The company continued to gain more market share and to grow its business in the last two decades by capitalizing on the global beverage industry. Coca-Cola now operates in over 200 countries. (Coca-Cola Company, 2012). Coca-Cola is a huge business that caters to the world, big challenges come with big opportunities. In my opinion, greater personalization and customization is a challenging trend, consumers around the world are more demanding, selective, and educated. Plus, the company has worldwide operations that demand attention to individual consumer preferences, one-product-fits-all strategy doesn't work anymore. They had to reintroduce new products that cater to the young consumer for example energy drinks and flavored coke, furthermore, they had to produce Diet coke and Vitamin water to meet the needs of health enthusiast consumers. ( The Saylor Foundation, n.d.). Moreover, Coca-Cola invested heavily in market research to understand different global trends that are affected by lifestyle, age, and financial situation to precisely market its products. Also, the company had to vary the product packaging to adapt to the different business environments from vending machines to restaurants and convenient-stores. As per the case study by ( The Saylor Foundation, n.d.) .''the products available in different sizes and forms, including glass and plastic bottles, aluminum cans, and fountain drink dispensers.'' Regarding the solution, I picked becoming more global, as the company ventured into new markets, regions, and countries, they attracted talented employees and managers who influenced the products development and deliverance. For example, ''The company takes great care in choosing the various shapes and sizes of the bottles and cans to ensure easy stacking and vending machine dispensing, and to allow for health-conscious consumers to limit their intake.''( The Saylor Foundation, n.d.). As per the example above, the company had to tailor the products' delivery to reach out to more consumers in a smart way. In this way, they met different consumers' needs. In my opinion, Coca-Cola should focus on systematic problem-solving to capitalize on personalization and customization challenges together with becoming a more global solution because the company must be consistent in product offerings which in turn require the company to have a continuous methodology for problem-solving. By utilizing high-end data and statistical solutions, the company can monitor its operation closely and correct any error in the workflow, which ultimately benefits the product development and market penetration. As I discussed, the three elements are customization, globalization, and systematic problemsolving. These elements are present in almost every business sector and they pose great challenges and opportunities at the same time, which makes it a harder task for managers. Therefore, modern management should always include technology in the decision-making process because they need precise data and metrics, in turn, they will be able to ensure a better outcome and better products/services. What makes things interesting, is the fact that some companies are reluctant to change and to adapt to new market trends, that is why we see so many companies are losing business.

-reference: The Saylor Foundation. (n.d.). Globalization and the Coca-Cola Company.

Coca-Cola Company (2012). Wikinvest. Retrieved December 11, 2012. http://www.wikinvest.com/stock/Coca-Cola_Company_(KO)...