SLP. I.

Coca-cola Company (hereafter referred to as “the Company” or “the Organization”) is the owner of four of the world's top five nonalcoholic sparkling beverage brands known to almost every 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 serving “1.5 billions” ( The Coca-cola 2008 p.1 )of customers each day .The Company’s 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 create 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 banner 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 open and accessible to everyone who needs information on anything it does. Financial records, company information, customer-goal, investor values and press releases are all accessible at the Company’s website, www.thecoca-colacompany.com.

Aside from the abovementioned mission, the Organization’s vision include the following (Mission, Vision, 2006):

q People: Being a great place to work where people are inspired to be the best they can be.

q Planet: Being a responsible global citizen that makes a difference.

q Portfolio: Bringing to the world a portfolio of beverage brands that anticipate and satisfy peoples' desires and needs.

q Partners: Nurturing a winning network of partners and building mutual loyalty.

q Profit: Maximizing return to shareowners while being mindful of our overall responsibilities

Moreover, the Company’s strategies are incorporated in its values which include the following:

q Leadership: “The courage to shape a better future”

q Passion: “Committed in heart and mind”

q Integrity: “Be real”

q Accountability: “If it is to be, it's up to me”

q Collaboration: “Leverage collective genius”

q Innovation: “Seek, imagine, create, delight”

q Quality: “What we do, we do well”

SLP II.

Indeed, customer is very important. Without a customer, any financial organization would not survive As Coca-cola’s way to retain existing 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 level 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 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 setup:

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q To satisfy customers with the gratifying taste of high quality products;

q The introduction to customers of products with diverse and fortified products that are healthier.

q 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 fatal 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 damaging to health” would result to the “introduction of products taste diversity and fortification making them healthier” that would make customers satisfied 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.

“The following matrices represent the Coca-cola’s customer-level objectives and their corresponding performance metrics and targets as well as innovative means and the relations to the Company’s strategy, mission and vision:

Table 1. Identified Objectives and the Corresponding Metrics and Targets for the Coca-cola Company
Objectives (1)	Performance Measure/Metric (2)	Level of Performance/ Target (3)
Bringing to the world a portfolio of beverage brands that anticipate and satisfy peoples' desires and needs	The amount of worldwide sales and profits. Obtaining overall positive reputation worldwide. Internationally achieve popular and excellent Company name.	World recognition of the Coca-cola brands. Positive responses to various products offered by the Company..
Vision-Level Objective
Refresh the world in body, mind and spirit (through highly driven sales)	The sales volume and sales amount and profit of the Company.	All products are salable and customers do not have reasons not to buy them.
Mission- Level Objective
“What we do, we do well”	The popularity of products and services as well as Company recognition by the public.	Excellent product range.
Strategy-Level Objective
To satisfy customers with the gratifying taste of high quality products	The number of additional customers buying the products. Sales volume and amount to “health-conscious” market.	The products must have appealing taste to customers yet they are of high quality beverages.
Customer Perspective
The introduction to customers of products with diverse and fortified products that are healthier.	Customer response through the volume of sales of the newly introduced products. Responses of the “health-conscious” market	The availability of a wide variety of vitamins and minerals-fortified, healthy and “non-obesity causing” products from which the customers may choose from.
Internal Process Perspective
Production of healthy beverage lines which are tasty yet they are not damaging to health.	The Company’s dedication on providing healthy products through provision of additional budget for the research and development department.	Continued research and development of existing and potential products.
Internal Learning and Growth Perspective

Table 2. Identified Objectives and the Corresponding Initiatives/Programs for the Coca-cola Company
Objectives (1)		Initiatives/Programs (4)
Bringing to the world a portfolio of beverage brands that anticipate and satisfy peoples' desires and needs		Widening the reach of the Company by establishing strong affiliations in various countries. Flexible implementation of organizational policies depending on the country governance where the Company chooses to operate and sell.
Vision-Level Objective
Refresh the world in body, mind and spirit (through highly driven sales)		Heavy product and and brand promotions. Providing greater returns to customers, adhering to their level of satisfaction by providing good customer service, reliable and affordable tasty products and selling them only the “real thing”.
Mission- Level Objective
“What we do, we do well”		Implementation of quality assurance, be it in the Coca-cola’s products or in its service.
Strategy-Level Objective
To satisfy customers with the gratifying taste of high quality products.		Create awareness on the quality of products and of products themselves, either through media commercials or giving away of free items.
Customer Perspective
The introduction to customers of products with diverse and fortified taste and ingredients, respectively, that are healthier.		Additions of compatible vitamins and/or minerals to products.
Internal Process Perspective
Production of healthy beverages lines which are tasty yet they are not damaging to health.		Reduction of fattening, obesity-causing ingredients from the products. Greater research and development efforts from the Company personnel involve on continuous improvement and product innovation.
Internal Learning and Growth Perspective

The above targets aim "to improve the quality, performance and accountability" (Stevens, Stokes & O'Mahony, 2006) of the Company. The metrics on the other hand which are the measures of the performance must be properly defined or “owned” according to Arthur M. Schneiderman (2006) for it to be useful. Additionally, initiatives provide “systematic methodology for managers, and employees, to establish a wide variety of goals and objectives, into targeted and business-aligned viewpoints, and then render detailed assessments and judgments” (Balanced Scorecard) as to the objectives’ success.

With the above identified performance targets, metrics as well as new programs and Company initiatives to satisfy the customer-level objectives going upwards to its vision, the Company would have a well-defined sets of activities and processes to truly achieve what their biggest goal is. Balanced scorecard is indeed a very useful tool for organizations because it contains. "variables that make or break a firm in the intensely competitive businesses " (Epstein & Birchard, 2000, p. 82) Although it is not really the total measure, per se, it is something that “attempts to understand the phenomena” (Milgate, 2004, p. 8) of the business from various aspects.

References

“Balanced Scorecard Initiatives.” Clear Thinking Lite, n/d. 22 May 2008. <http://www.ctlite.com/bal.htm>.

Epstein, M. J., & Birchard, B. (2000). Counting What Counts: Turning Corporate Accountability to Competitive Advantage. Cambridge, MA: Perseus. Retrieved May 23, 2008, from Questia database: http://www.questia.com/PM.qst?a=o&d=88984324

Kay, J. A. (1995). Foundations of Corporate Success: How Business Strategies Add Value. Oxford: Oxford University Press. Retrieved May 23, 2008, from Questia database: http://www.questia.com/PM.qst?a=o&d=29059189

Milgate, M. A. (2004). Transforming Corporate Performance: Measuring and Managing the Drivers of Business Success. Westport, CT: Praeger. Retrieved May 23, 2008, from Questia database: http://www.questia.com/PM.qst?a=o&d=113133426

“Mission, Vision and Values”. The Coca Cola Company, 2006. 21 May 2007. <http://www.thecoca-colacompany.com/ourcompany/mission_vision_values.html >.

Stevens, P., Stokes, L., & O'Mahony, M. (2006). Metrics, Targets and Performance.National Institute Economic Review, (197), 80+. Retrieved May 23, 2008, from Questia database: http://www.questia.com/PM.qst?a=o&d=5016613238>.

Schneiderman, A.M. (2006). Juggling Balanced Scorecard Metrics, Arthur Schneiderman Website. 23 may 2008. < http://www.schneiderman.com/The_Art_of_PM/juggling_Metrics/juggling_metrics.htm>.

Shaw, R. (2000). 3 Shareholder Value or Stakeholder Value? That is the Question. InShareholder Value Management in Banks /, Schuster, L. (Ed.) (pp. 36-null10). New York: St. Martin's Press. Retrieved May 23, 2008, from Questia database: http://www.questia.com/PM.qst?a=o&d=102459778

“The Balanced Scorecard”. Quick MBA-Accounting, 2007. 23 May 2008. <http://www.quickmba.com/accounting/mgmt/balanced-scorecard/>.

The Board of Directors, Coca-Cola Company. The Coca-Cola Company Financial Statements. 28 February 2008. 21 May 2008. <http://www.thecoca-colacompany.com/investors/pdfs/form_10K_2007.pdf >