Coca Cola VCE Business project Essay
The main aim of this Advanced VCE Business project is to produce a detailed report on a medium to large business including such things as descriptions of the businesses objectives, identifying the businesses type of ownership, explaining the work of the functional areas in the business etc. The business I have chosen is Coca-Cola. This company is quite large but I have chosen it because I know that it is quite successful. The product that has given the world its best-known taste was born in Atlanta, Georgia, on May 8, 1886.
Dr. John Stith Pemberton, a local pharmacist, produced the syrup for Coca-Cola(r), and carried a jug of the new product down the street to Jacobs’ Pharmacy, where it was sampled, pronounced “excellent” and placed on sale for five cents a glass as a soda fountain drink. Carbonated water was teamed with the new syrup to produce a drink that was at once “Delicious and refreshing,” a theme that continues to echo today wherever Coca-Cola is enjoyed. Coca-Cola Enterprises Inc.
(sometimes the “Company”) is the world’s largest non-alcoholic beverage bottling company. The Company markets, produces, and distributes liquid non-alcoholic refreshment to customers and consumers in our franchise territories throughout North America and
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The Coca Cola Enterprise (CCE) is licensed to manufacture and produce drinks and only be responsible for point of sales marketing where as the Coca-Cola Company (TCCC) is responsible for the advertising. The objectives of this company are to refresh everyone everyday, be as efficient as possible, be honest, fair, determined and to be the best. The corporate headquarters are in Atlanta but have local operation with over 200 other countries in the world. They hire over 5000 employees in the U. K alone with a total of 7 Coca Cola sites.
They have six production lines in Edmonton where each line makes a different type and size of bottle using glass and plastic. 1 line on its own makes and amazing 30,000 plastic 500ml bottles of coke per year. Coca Cola moved to Europe in the 1990s and have made a great impact. They are a Private Limited company and TCCC only own 40% of the business where as the other 60% is owned by the employees. At the CCE bottling, packaging, distribution, marketing and sales, finance and customer service takes place. Coca Cola’s mission statement is:
‘The Coca Cola Company exists to benefit and refresh everyone who is touched by our business. ‘
For this project there are many resources that I can gain my information from. The main ones I shall be looking at will most likely be from Internet, the Library and obviously, the Company and or Company Reports. The Internet is a very large and (semi) reliable source for gaining information about many different things. It is also a place where nearly all medium\large business tends to keep certain information about their company such as mission statements, business objectives, business cultures etc.
This will obviously be an ideal source of information for me due to the nature of this project. Libraries are also reliable at giving information. It is more likely that the information stored in the libraries would be based on the businesses that are situated in the local communities but would also include national and international business information. Reports on the company can be found in the company report, hence the name. These reports tell information about the business such as the company’s objectives and how well they have fulfilled these objectives.
The information about the directors and shareholders can also be found in these reports. It may be possible to write off to companies and ask them for a report or they can be asked for directly from a company employee if a visit is made to the business. BUSINESS OBJECTIVES BRAINSTORM All businesses have objectives that they aim to fulfil throughout their life. Though there may be many objectives and they may vary drastically from company to company, nearly all companies will have the same 6 main objectives, which can be seen in the brainstorm below: –
COCA COLA’S OBJECTIVES Coca Cola aims to make sure that their product satisfies all of their consumers. This becomes a main objective over profit. The company can now look past making money because they will always have income, so they aim mainly on just making their customers happy. By making their main mission statement to please people, then this will help make customers feel secure. Another objective is to provide quality products and an excellent customer service. This again is benefited to the customers.
Coca Cola also aims on helping out communities and the environment. In my personal opinion I believe that Coca Cola live up to their mission statement and fulfil their objectives. They have helped out communities by sponsoring kid’s football and other sporting events. They have also succeeded in providing quality products because they were the most successful drinks company last year with 7 of their drinks in the top 25 and have proven to be the most popular drinks company. I believe Coca Cola have lived up to all their objectives and have done well at it.
Engines OF BUSINESSES
There are many different types of businesses. The majority of businesses are either sole traders or partnerships. Out of those two businesses, those that succeed (only being about 25%) usually grow into larger businesses such as private limited companies, multinationals, franchises, etc. Below is a description of the types of ownership of a business:
– Sole Trader – Usually if you set up a business, you may do so for a number of reasons: redundancy, dissatisfaction with your present job, or developing a hobby or interest into a business.
The majority of people setting up this way do so, on their own accord, and these are known as sole proprietors. A sole proprietorship is a business that is owned by one person with unlimited liability. Unlimited liability is the legal obligation that the sole proprietor has to settle every debt of the business. If the sole proprietor fails to pay these, then the assets of the business can be taken to pay the debts but if this is not enough then the sole proprietor is liable to have his/her personal assets taken also.
Partnership – A partnership is a group of individuals working together in business hoping to make a profit. It is easy to set up and the actual group of individuals running the business range from 2 people up to 20 people. A partnership, which can also be known as a ‘firm’, can either trade under the name of the partners or under a suitable trading name. Partnerships also have unlimited liability as sole proprietorships do.
Limited Company – If a group of people decide to set up a business, an alternative to a partnership would be to set up a limited company.
In a limited company, the business is owned by shareholders, run by directors and is set up as a body separate from the owners, being the shareholders. A limited company business is quite different from a sole proprietorship or a partnership in the sense that it has limited liability instead of unlimited. Limited liability means if the business goes bust then the owners only have too pay back the amount of things that they have put into the business. So only the business assets can be taken, not personal assets.