Business Analysis
Coca-Cola
Sonja Sutherland-Brodine
Business Analysis Paper submitted for
BUSI 151 Introduction to Business
at University of Charleston
Melissa Farrish
School of Business & Leadership
Beckley, West Virginia
2015
Table of Contents
Business Description ........................................................................................................... 1
Industry ........................................................................................................................... 2
Physical Operation .......................................................................................................... 2
Organizational Structure ..................................................................................................... 2
Ownership ....................................................................................................................... 2
Board of Directors........................................................................................................... 3
Risk Analysis ...................................................................................................................... 3
Market Risks ................................................................................................................... 3
Operational Risks ............................................................................................................ 4
Staffing Risks .................................................................................................................. 4
Financial Risks ................................................................................................................ 4
Managerial Risks ............................................................................................................ 5
Market Analysis .................................................................................................................. 5
Industry Description........................................................................................................ 5
Target Market.................................................................................................................. 5
Competition..................................................................................................................... 6
Marketing ............................................................................................................................ 6
Pricing Strategy............................................................................................................... 6
Sales/Distribution Plan.................................................................................................... 7
Advertising/Promotion Plan............................................................................................ 7
Slogan ............................................................................................................................. 7
Logo ................................................................................................................................ 7
Human Resources ............................................................................................................... 8
Operational .......................................................................................................................... 9
Supply Chain ................................................................................................................. 10
Quality........................................................................................................................... 10
Labor Requirements ...................................................................................................... 11
Financial Analysis ............................................................................................................. 11
Statements ..................................................................................................................... 12
ii
Ratio Analysis ............................................................................................................... 12
Management and Leadership ............................................................................................ 13
Mission and Goals......................................................................................................... 13
Stakeholders .................................................................................................................. 14
Coca-Cola identified employees, consumers, customers, bottlers, distributors,
shareowners, nongovernmental organizations (NGOs) and nonprofit partners as part of
their company’s stakeholders. They explain that they cannot achieve its sustainability
goal alone and engage with stakeholders through a partnership seeking inputs for
improvements (Stakeholder Engagement, 2014). ......................................................... 14
Leadership ..................................................................................................................... 14
SWOT Analysis ............................................................................................................ 14
Social Responsibility .................................................................................................... 16
Moral Climate ............................................................................................................... 16
The Ethics and Compliance Committee includes seven members representing
corporate governance functions and operations, which help ensure consistency in
administration of company Code. This committee makes the actual determination
whether or not a code violation has occurred. .............................................................. 17
References ......................................................................................................................... 17
Bibliography ..................................................................................................................... 17
iii
Business Analysis
Coca-Cola
Business Description
Coca-Cola is one of the most popular brand names throughout the world. It all
started during the prohibition when an Atlanta Pharmacist named John Pemberton wanted
to create a non-alcoholic beverage. He created flavored syrup and presented it to a local
pharmacy where it was mixed with carbonated water. This new drink impressed all
customers and Coca-Cola was first sold at a Jacob’s pharmacy in 1886 for 5 cents a glass.
The Coca-Cola formula and brand was bought in 1889 by Asa Candler and he
became Coca-Cola’s first president. Candler was successful promoting Coca-Cola and
expanded syrup plants to Chicago, Dallas, and Los Angeles. The next popularity came
when Coca-Cola was bottled and became portable.
In 1923 Robert Woodruff became the new president of Coca-Cola and recognized
the opportunity to expand marketing overseas. Key steps included the formation of the
Coca-Cola Export Corporation in 1930 and the World War II pledge to provide a CocaCola for five cents to every American serviceperson, wherever he or she might be
stationed (Giebelhaus, 2014) Woodruff also led Coca-Cola to the Olympic Games for the
first time in 1928 with the US team in Amsterdam. The trademark “Coke,” was first used
in advertising in 1941.
1
Industry
The Coca-Cola Company is the world's leading owner, manufacturer, and
distributor of nonalcoholic beverages. They now have over 500 brands and more than
3,500 different beverages including fruit drinks, energy and sports drinks, bottled water,
and an assortment of different flavors of carbonated drinks. (The Coca-Cola Company |
American company , 2013) In the beverage industry, Coca-Cola has successfully
quenched the consumer’s thirst for over 128 years but to be honest water alone could
have satisfied a thirst. The need that this company satisfies is simply a pleasure need.
Physical Operation
Coca-Cola has two type of operating groups, bottling and corporate. With one of
the worlds largest beverage distribution systems and operates in more than 200 countries
and makes almost 58% of its sales outside of the US. These operating groups are divided
regionally: Africa, Pacific, European Union, Latin America, Eurasia, and North America.
The headquarters for the company is located in Atlanta, Georgia.
Organizational Structure
Ownership
Coca-Cola is a public company that trades its shares on the stock exchange. It is
much too big of a company for any one person to own and since it is a public company
anyone can buy shares and many different shareholders/investors all around the world
own the company.
2
Management Team
Coca-Cola’s head office is responsible for providing the company with direction
and support to the regional structure. The company’s Executive Committee makes key
strategic decisions for the company. The CEO is the figurehead and the senior decision
maker. Each region has its own marketing manager, public affairs director and finance
director. and communicates ideas and suggestions with the Executive Committee for final
decisions throughout the regions.
Board of Directors
The Board is elected by the shareowners to oversee their interest in the long-term
health and the overall success of the business and its financial strength. The Board serves
as the ultimate decision-making body of the Company, except for those matters reserved
to or shared with the shareowners (coca-cola) The current list of Board of Directors are:
Muhtar Kent, Herbert A. Allen, Ronald W. Allen, Ana Botín, Howard G. Buffett,
Richard M. Daley, Barry Diller, Helene D. Gayle, Evan G. Greenberg, Alexis M.
Herman, Robert A. Kotick, Maria Elena Lagomasino, Sam Nunn, James D. Robinson III,
and Peter V. Ueberroth.
Risk Analysis
Market Risks
Pepsi is the biggest competitor of Coca-Cola and the two companies have been
rivals since the 1890’s. In the 1960’s, Pepsi decided to diversify into snacks and
3
broadened its portfolio where Coca-Cola decided to strictly stay with beverages. Another
threat is that the world has become health conscious. Carbonated beverages are one of the
major reasons for fat intake and Coca-Cola is the largest manufacturer of carbonated
beverages. The inference is that the consumption of beverages in developed countries
might go down, as people will prefer a healthy alternative (SWOT of Coca Cola - SWOT
analysis of Coca cola , 2014).
Operational Risks
Health and safety is a constant concern for Coca-Cola that operates in over 200
countries with a wide variety of cultures and regulations. Illegal immigrants and child
labor, particularly in the company's supply chain, are also a concern.
Staffing Risks
Coca-Cola is a widely known company with a good reputation. They consistently
fill both senior and junior job interview openings, which allow them to be able to pick the
best talent. The company trains associates and encourage education and development
programs at all levels of the organization.
Financial Risks
Coca-Cola continues to stand strong in the stock market and has given its
stockholders and investors plenty in returns but still faces some financial risks.
Fluctuations in foreign currency exchange rates, litigation or legal proceedings, and
increased interest rates just to name a few.
4
Managerial Risks
The company has not seen any problems with top positions leaving the company
in fact, in the past they has issues with violating issues of entrenchment and
independence of board directors for being either over the age of 70 or have been on the
board for over 20 years. (Calvert Investment Distributors, 2013) As part of the
company’s 2020 vision goal, they recognized the need to attract, engage and retain the
best talent. Although this may not be at the company’s top levels the employee turnover
at any level cost the company annually.
Market Analysis
Industry Description
Coca-Cola is the global leader in the beverage industry. The worldwide beverage
industry is expected to increase in value by $300 billion between now and 2020. CocaCola has 30% market share of the global beverage industry. If the company maintains its
global market share up to 2020, it will add $90 billion to its market cap based on the
expected increase in global beverage value. (Coca-Cola's Growth Potential & Dividend
Analysis - Sure Dividend, 2014)
Target Market
Coca-Cola does not generally target a specific age or gender market but the
majority of their consumers tend to be between the ages of 12-30 years old. Even outside
that age group Coca-Cola is successful in reaching just about every age through their
partnerships like fast food and other restaurants. The demographic target is broad due to
5
their popularity and availability. Coca-Cola strives to reach all different kinds of people
with all the different products they offer. From carbonated drinks, fruit juices, sport
drinks, coffees, and waters there is just about everything to satisfy everyone’s thirst.
Competition
Coca-Cola has been competing with other beverage brands that have desperately
been fighting to take over the number one spot in the beverage industry. Pepsi and Dr.
Pepper are the most competitive companies Coca-Cola has on the market today.
Marketing
For 100 years the Coca-Cola bottle has had its unique contoured shape. Coke has
experimented, and had success, with a variety of packaging innovations over the years.
In 2009 they came out with the first ever fully recyclable bottle partially made from
plants. They had realized the environmental and long-term cost benefits of this new
bottle since day one, but it took a few years to realize its potential to build emotional
connections with consumers. (Moye, 2014) Most recently they had replace the “Coke”
branding with the most popular teenagers first names to personalize the cans or bottles.
Pricing Strategy
Because of the wide variety of products the company offers, pricing varies. Their
basic pricing strategy is based on the competitor’s prices. Coca-Cola has had a history to
keep their prices low to penetrate the markets but their ultimate goal is to maximize
shareholder value.
6
Sales/Distribution Plan
The company distributes their products through business partnerships with almost
300 bottling partners worldwide. The products are delivered to supermarkets, restaurants,
and vending machines where consumers can buy their products.
Advertising/Promotion Plan
Coca-Cola is a brand that is present in households, shops, hotels, offices, etc.
Coca-Cola has had a long history of sponsorships. Some of the most well known
sponsorships are American Idol, Apple iTunes, BET Network, NASCAR, NBA, NCAA,
and the Olympic Games. (coca-cola sponsorships, 2012) Coca-Cola also uses many
resources to promote and advertise their products. They use commercials on television,
the Internet, ads in magazines, and billboards.
Slogan
Coca-Cola has had been famous throughout the years for its advertising slogans.
The company’s most recent slogan is “Open Happiness” which was introduced in 2009.
Logo
The Coca-Cola logo was created by John Pemberton's bookkeeper, Frank M.
Robinson, he suggested the name Coca-Cola and thought that the two Cs would look well
in advertising. He wrote it using Spenserian script, which was the type of penmanship
during that time (Coca-Cola Logo).
7
Human Resources
Individual’s interested in a career with Coca-Cola can go onto their website and
browse what positions are open. Their website also allows individuals to apply for those
positions on-line and even gives tips on how to tailor your resume and how to improve
your interview. Coca-Cola recruits both internally and externally (Herman, 2002).
Selection varies depending on the position an individual is applying for; one process does
not fit for all the different positions in the company. Depending on the position the way
they may make their selection might be from interview, presentations, situational
exercises, or psychometric tests. Training is very important to all their employees.
Training is available to both new and existing employees. New employees are trained on
policies, safety, laws and regulations and technology. Training opportunities are also
available for existing employees for both career and self-advancements. Compensation
depends on location, job title and experience level. Coca-Cola compensates with both
salary and hourly pay positions. (Average Salary for Coca-Cola Enterprises, Inc.
Employees)
8
Operational
The production of Coca-Cola at a manufacturing process is the combining of four
parts: the secret-formula concentrate, water, sweetener, and carbonization. With such
few ingredients, a slight difference in any one, such as the water, could change the
classic, expected taste and quality of the final product. Manufacturing facilities are
located all around the world with many different water sources from well water to
municipal. It is essential that specific filtering and treatment processes be used so that the
water that ends up in the final product is the same at every plant. If it is not, the bottled,
canned, or tapped Coke will not be the same (Lupo, 2013).
Coca-Cola distributes their products two different ways, direct selling and indirect
selling. For direct selling, the company supplies products directly to retailers that include
restaurants, cinemas and retail stores. Coca-Cola also uses indirect selling; it gets into
partnerships with distributor agencies, wholesalers and independent bottling partners,
who then make the products available to retailers and consumers. In the indirect method,
the company transfers its products to distributors, who then transports to smaller
distributors and retailers to reach small-populated areas from different geographical
locations (Berry, 2010).
Regulation
Coca-Cola’s production, distribution, and marketing are subject to the rules and
regulations of the United States Food and Drug Administration (FDA) agency, U.S.
Occupational Safety and Health Act, the U.S. Lanham Act, various national, federal,
state, provincial, and local environmental statutes and regulations. These regulate the
9
production, packaging, sale, safety, advertising, labeling, and ingredients of products and
operations (Publications and Policies, 2014).
Supply Chain
Coca-Cola operates with different types of supply chains. The main reason for
this is because of customer demand and product variety. Supply is driven by forecasted
customer demand input, seasonality and also by promotions or changes in merchandising
in the store. The delivery of the product is required multiple ways that affects the supply
chain. Some products may require to be delivered refrigerated and others may not have a
temperature regulation. Coca cola is delivered in bottles, cans, and syrups. It is delivered
and sold in singles, packs, cases, and bulk. Coca-Cola packages and delivers to meet all
their customers needs (Jiménez-Lutter, 2014).
As mentioned before, the manufacturing process is the combining of four parts:
the secret-formula concentrate, water, sweetener, and carbonization. With manufacturing
facilities located all over the world distribution the product is easily distributed to
retailers, wholesalers, bottling partners or wherever needed to reach their customers.
Quality
The company operates by the Coca-Cola Operating Requirements (KORE). The
concept of KORE is that the responsibility of quality is not just from the top down but it
is the responsibility of the people in the operations at all levels of the supply chain. All
production facilities are accredited to the quality standard ISO 9001 and Food Safety
Standard FSSC 22000 and have response centers in every country to constantly monitory
consumer feedback (Sustainability Report , 2014). Another way the company ensures
quality is by contracting third parties to purchase its products from various retail
10
establishments. The products are analyzed and tested for everything from taste to micro
to label coding and alignment. The results are compiled every month, upon which each
plant is scored and analyses are made for continuous improvement in that plant and
across the system (Lupo, Coca-Cola company profile, 2013).
Labor Requirements
With a company this large there are many different types of career opportunities
available. Depending on the position within the company there will be different
qualification requirements. To identify which qualifications are needed for a certain
position, interested applicants can access Coca-Cola’s website and search their open
positions. Once the applicant has found the position they are interested in, the website
will also tell them all required qualifications for that position (Careers: Applicant Help).
Financial Analysis
The Coca-Cola Company, a beverage company, manufactures and distributes
coke, diet coke, and other soft drinks worldwide. The company primarily offers
nonalcoholic beverages, including sparkling beverages and still beverages. Its sparkling
beverages include nonalcoholic ready-to-drink beverages with carbonation, such as
carbonated energy drinks, and carbonated waters and flavored waters. It also provides
flavoring ingredients, sweeteners, beverage ingredients, and fountain syrups, as well as
powders for purified water products. In addition, the company licenses its technologies to
suppliers and third parties (The Coca-Cola Company (KO)).
11
Statements
Coca-Cola’s net sales for 2014 were $8.3 billion dollars. The stockholder equity
for 2014 was $30.32 billion. Coca-Cola reported that their net income declined 2% in
2014 with a dollar amount of $112 million (Erickson, 2015).
Ratio Analysis
The two ratios’ chosen was a cash ratio and the current ratio. The cash ratio =
Total cash assets ÷ Current liabilities = (20,268 ÷ 27,811 = 0.73)
The current ratio = Current assets ÷ Current liabilities = (31,304 ÷ 27,811 = 1.13)
An investor or a manager could uses these ratios to see that Coca-Cola Co.'s cash and
current ratios improved from 2011 to 2012 and from 2012 to 2013.
Stock Price
The initial symbol used for the Coca-Cola Company was CCO. By 1923, the
symbol “KO” replace “CCO”. Todays stock price is $41.80.
These past couple of month Coca-Cola has experienced many ups and downs with
the company’s stock value. Coca-Cola is in the process of trying to recover from the
company’s earnings fall of 55% in the quarter that ended Dec. 31 2014 due in large part
to weak foreign exchange rates. Throughout this course the stock price has had a -3
percent change. Currency fluctuations still seem to be the main factor of the past two
months fluctuations in the company’s stock prices (Turner, 2015).
12
Management and Leadership
Mission and Goals
Coca-Cola’s mission is:
- To refresh the world
- To inspire moments of happiness and optimism
- To create value and make a difference
Coca-Cola’s Vision for the future is:
People: Be a great place to work where people are inspired to be the best they can be.
Portfolio: Bring to the world a portfolio of quality beverage brands that anticipate and
satisfy people's desires and needs.
Partners: Nurture a winning network of customers and suppliers, together we create
mutual, enduring value.
Planet: Be a responsible citizen that makes a difference by helping build and support
sustainable communities.
Profit: Maximize long-term return to shareowners while being mindful of our overall
responsibilities.
Productivity: Be a highly effective, lean and fast-moving organization (Objectives).
13
Stakeholders
Coca-Cola identified employees, consumers, customers, bottlers, distributors,
shareowners, nongovernmental organizations (NGOs) and nonprofit partners as part of
their company’s stakeholders. They explain that they cannot achieve its sustainability
goal alone and engage with stakeholders through a partnership seeking inputs for
improvements (Stakeholder Engagement, 2014).
Leadership
Coca-Cola has four principles that they incorporate into their management style:
- Provide quality in the marketplace
- Enrich the workplace
- Preserve the environment
- Strengthen the community
The Coca-Cola Company uses autocratic, democratic and consultative democratic
management styles but each one in different departments (Code of Business Conduct,
2011).
SWOT Analysis
When reviewing the SWOT analysis the strengths identified for the company
were that the Coca-Cola Company was the most valued brand in the world, they hold the
largest beverage market share, and their advertising expenses accounted for more than $3
billion that increased sales and brand recognition. Coca-Cola serves more than 200
countries, and has the most loyal consumer groups. The company focus’ on social
14
responsibility programs which boosts the company’s social image and results in
competitive advantage over competitors.
The weaknesses identified were that the business was still focusing on selling
carbonated drinks that will prove weak, as the world is moving towards consuming
healthier food and drinks. Focusing only on selling drinks limits the company’s diversity
while other companies have penetrated other markets such as snacks and other foods.
Coca-Cola has suffered from negative publicity. They have been criticized for high water
consumption in water scarce regions and using harmful ingredients.
The company has many opportunities as well. The consumption of bottled water
is expected to grow in the US and the rest of the world. With demands for healthier food
and beverages, the company can expand its product range with drinks that have low
amount of sugar and calories. Coca-Cola can find growth through acquisitions. They can
expand their portfolio by acquiring other companies.
There are many threats that affect a company this large. As people become more
health conscious they reduce their consumption of carbonated drinks, drinks with large
amounts of sugar, calories and fat. As Coca-Cola is the main distributor and seller of
carbonated drinks this is a major threat. This health issue has also caused concern
legally. Many governments have considered passing legislation that requires disclosing
adverse health consequences on product labels. These labels may be perceived
negatively and the company may lose some of its customers. Water is another concern
and threat. Water is becoming scarcer around the world and increases the cost and
criticism for the company. Another big threat is competition over market share. Other
15
companies are constantly competing with Coca-Cola to replace them as the worlds leader
in the beverage industry (Jurevicius, 2013).
Social Responsibility
In 1984 Coco-Cola established The Coca-Cola Foundation. The company has also
made a commitment to give back 1 percent of its prior year’s operating income annually.
In 2013, The Coca-Cola Company and The Coca-Cola Foundation invested more than
$143 million in communities worldwide (The Coca-Cola Foundation). Coca-Cola has
stepped up to assist many times responding to offer emergency relief during natural
disasters, funding education, funding healthy active living and funding recycling
programs.
Moral Climate
Coca-Cola’s Code of Business Conduct sets the basic standards for employee
conduct (Supplier Code of Business Conduct). The Code articulates the expectation of
accountability, honesty and integrity in all matters. The Code of Conduct contains four
basic parts; preamble, objectives and values, precise values with bifurcations,
implementations including the permissions, penalties and monitoring. All associates of
the Company and its majority-owned subsidiaries are required to read and understand the
Code and follow its precepts, both in the workplace and in the larger community.
16
The Ethics and Compliance Committee includes seven members representing
corporate governance functions and operations, which help ensure consistency in
administration of company Code. This committee makes the actual determination
whether or not a code violation has occurred.
In conclusion, Coca-Cola was not an overnight success. It has come a long way
from its creation in 1886. It has become a successful product with a recognizable name
brand and logo. Just with any big company, coke has had its ups and downs. Thanks to
valuable market research and a keen eye for opportunity as well as the integration of new
technology coke will definitely be around for a long time to come.
References
Bibliography
(n.d.).
Average Salary for Coca-Cola Enterprises, Inc. Employees. (n.d.). Retrieved February 8,
2015, from payscale.com : http://www.payscale.com/research/US/Employer=CocaCola_Enterprises%2c_Inc./Salary
17
Berry, S. (2010, December 19). How Coca-Cola's distribution system works . Retrieved
February 15, 2015, from ColaLife: http://www.colalife.org/2010/12/19/how-coca-colasdistribution-system-works/
Calvert Investment Distributors, I. (2013, october 22). Calvert Investments . Retrieved
february 2, 2015, from Calvert Investments - news:
http://www.calvert.com/newsArticle.html?article=20664
Careers: Applicant Help. (n.d.). Retrieved February 17, 2015 , from The Coca-Cola
Company: http://www.coca-colacompany.com/careers/applicant-help
coca-cola. (n.d.). coca-cola company. Retrieved february 1, 2015, from Corporate
Governance Guidelines: http://www.coca-colacompany.com/investors/corporategovernance-guidelines
Coca-Cola Logo. (n.d.). Retrieved February 11, 2015, from Famous Logos RSS:
http://famouslogos.net/coca-cola-logo/
coca-cola sponsorships. (2012, january 1). Retrieved february 3, 2015, from coca-cola
company: http://www.coca-colacompany.com/history/coca-cola-sponsorships
Coca-Cola's Growth Potential & Dividend Analysis - Sure Dividend. (2014, september
8). Retrieved february r, 2015, from Sure Dividend RSS:
http://www.suredividend.com/coca-colas-growth-potential-dividend-analysis/
Code of Business Conduct. (2011, June 1). Retrieved February 23, 2015, from Coca-Cola
Enterprises: http://www.cokecce.com/system/file_resources/11/COBC.pdf#page=5
Erickson, T. (2015, February 12). Investor Relations. Retrieved February 19, 2015, from
Coca-Cola Enterprises Inverstor Relations:
http://ir.cokecce.com/phoenix.zhtml?c=117435&p=irol-newsArticle&ID=2016110
18
Giebelhaus, A. W. (2014, june 5). New georgia encyclopedia. Retrieved feburary 1, 2015,
from New georgia encyclopedia web site:
http://www.georgiaencyclopedia.org/articles/business-economy/coca-cola-company
Herman, A. M. (2002, August 27). task force report. Retrieved February 8, 2015, from
assests coca-cola company.com: http://assets.cocacolacompany.com/d5/23/5cc6d0d54cf6aaf547d89e253078/task_force_report.pdf
Jiménez-Lutter, M. (2014). The Coca-Cola Company . Retrieved February 16, 2015,
from SCW-mag.com: http://scw-mag.com/index.php/sections/distribution/143-the-cocacola-company
Jurevicius, O. (2013, Feburary 13). SWOT analysis of Coca Cola . Retrieved February
23, 2015, from Coca Cola SWOT analysis 2013 :
http://www.strategicmanagementinsight.com/swot-analyses/coca-cola-swot-analysis.html
Lupo, L. (2013, April 9). Coca-Cola company profile. Retrieved February 19, 2015, from
Qualityaccurancemag.com: http://www.qualityassurancemag.com/qa0413-coca-colacompany-profile.aspx
Lupo, L. (2013, April 9). Home Magazine Coca-Cola. Retrieved February 15, 2015, from
Nursery Management RSS News : http://www.qualityassurancemag.com/qa0413-cocacola-company-profile.aspx
Moye, J. (2014, november 3). 3 lessons coke has learned since launching plantbottle.
Retrieved february 3, 2015, from coca-cola company: http://www.cocacolacompany.com/stories/3-lessons-coke-has-learned-since-launching-plantbottle
Objectives. (n.d.). Retrieved February 23, 2015, from Coca-Cola Company:
http://thecocacolacompany-sabrinayang.weebly.com/objectives.html
19
Publications and Policies. (2014, April 23). Retrieved February 15, 2015, from CocaCola Enterprises : : http://www.cokecce.com/corporate-responsibilitysustainability/publications-and-policies
Stakeholder Engagement. (2014, September 25). Retrieved February 19, 2015, from
Coca-Cola Company: http://www.coca-colacompany.com/sustainability/stakeholderengagement
Supplier Code of Business Conduct. (n.d.). Retrieved February 23, 2015, from The CocaCola Company : http://www.coca-colacompany.com/our-company/suppliers/suppliercode-of-business-conduct
Sustainability Report . (2014, Janurary 14). Retrieved February 19, 2015, from coca-cola
enterprises:
http://www.cokecce.com/system/file_resources/125/Corporate_Responsibility_Report_20
13_2014.pdf
SWOT of Coca Cola - SWOT analysis of Coca cola . (2014, february 13). Retrieved
february 2, 2015, from marketing91: http://www.marketing91.com/swot-coca-cola/
The Coca-Cola Company (KO). (n.d.). Retrieved February 23, 2015, from Yahoo
finanace: https://finance.yahoo.com/q/pr?s=KO+Profile
The Coca-Cola Company | American company . (2013, december 8). Retrieved february
3, 2015, from Encyclopedia Britannica Online :
http://www.britannica.com/EBchecked/topic/123433/The-Coca-ColaCompany#ref875240
The Coca-Cola Foundation. (n.d.). Retrieved February 19, 2015, from Coca-Cola
Company: http://www.coca-colacompany.com/our-company/the-coca-cola-foundation
20
Turner, N. (2015, February 10). Coca-Cola Tops Quarterly Profit Estimates as Prices
Rise. Retrieved February 23, 2015, from Bloomberg.com:
http://www.bloomberg.com/news/articles/2015-02-10/coca-cola-tops-quarterly-profitestimates-after-raising-prices
21