Coca-Cola Innovation Report

Topics: Sustainability, Innovation, Joseph Schumpeter Pages: 7 (1062 words) Published: April 21, 2014


Coca-Cola Innovation Report
ORG/581
March 12, 2014
Nadine Harris
Coca-Cola Innovation Report
Coca-Cola has strived to remain innovative during its 126 years of operation. The market for soda and other beverages is constantly changing, and Coca-Cola must keep up with these changes to remain profitable. Coca-Cola must invest in new products and technology to remain innovative. There are many motives to maintain a high level of innovation, including sustainable development, competitors, social awareness, new needs of its customers, and changing and shifting demographics. Addressing these motives will help Coca-Cola remain competitive and innovative in a changing marketplace. Sustainable Development

Sustainability is an important aspect of Coca-Cola’s operations. Coca-Cola has developed packaging for its products that are environmentally friendly and it continues to research and develop new technology for sustainable products. For example, Coca-Cola developed PlantBottle technology in 2009. PlantBottle is the first bottle made from partially from plants that are fully recyclable. Coca-Cola’s sustainability report highlights the benefits of implementing PlantBottle technology (Coca-Cola, 2014): “In addition to eliminating the equivalent of approximately 140,000 metric tons of CO2 emissions from the company’s PET plastic bottles, to date, the innovation has boosted sales of key brands like Dasani. PlantBottle also has strengthened Coke’s competitive advantage with key customers, racked up headlines and sustainable and innovation awards, and caught the collective eye of the supply chain and investor community.” By continuing to invest in environmental sustainability Coca-Cola will achieve a higher level of innovation. Competitors

Coca-Cola must strive to remain competitive in a changing market. The sales and consumption of soda has decreased over the past few years, so it is important for Coca-Cola to develop new products to increase sales. Coca-Cola should research the sales and trends of its competitors to determine how they are performing and review its sales figures. Coca-Cola should determine how to improve its current products and provide new and improved products to generate new revenue. This will help Coca-Cola remain competitive and innovative. Social Consciousness

Coca-Cola is focused on social awareness as their brand evolves to the changing needs of their business. Coca-Cola has invested in many organizations and charities to support causes that focus on community improvement. For example, Coca-Cola is currently running a campaign called Empowering Women: 5by20. This is Coca-Cola’s global commitment to enable the economic empowerment of 5 million women entrepreneurs across the company’s value chain by 2020 (Coca-Cola, 2014). Coca-Cola’s goal is to address common barriers women face when trying to succeed in business. This initiative offers women access to business skills training courses, financial services and connections with peers or mentors (Coca-Cola, 2014). This type of campaign can help Coca-Cola receive support from consumers and companies that may not already purchase Coca-Cola products. This also shows that Coca-Cola is interested in improving communities and supporting small businesses. Customer Needs and Changing Demographics

Consumers are becoming more aware of health risks associated with sugary beverages and soda consumption has declined in recent years (Berr, 2013). As consumers are changing habits Coca-Cola must develop new products to match consumer wants. Coca-Cola has started focusing on the millennial generation and their consumer’s tastes for beverages. By focusing on this age bracket Coca-Cola can develop products and possibly increase future sales. Obstacles

There are a few obstacles Coca-Cola must overcome to achieve its goal of becoming more innovative. This includes the project itself, risk, uncertainty, the company itself, and its internal and external environment....

References: Berr, J. (2013). Soda consumption fizzles to 26-year low. Retrieved from: http://money.msn.com/now/post.aspx?post=d2bfc3cd-35b5-4e44-8434-bc9d442811c1
Coca-Cola. (2014). Our Company. Retrieved from: http://www.coca-colacompany.com/
Jones, G. R. (2010). Organizational theory, design and change (6th ed.). Upper Saddle River, NJ: Prentice Hall
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