Challenges In The Global Business Environment
Challenges in Global Business Environment
The various current challenges that are facing business enterprises in the global business environment have been linked to factors such as unethical practices by the business, failure of embracing emerging technological trends and high competition. With this information in mind, understanding how businesses are tackling these key areas is key importance to their overall success. Coca-Cola is a company that specializes in the manufacturing, retailing and marketing of beverages and syrups of non-alcoholic nature. The Coca-Cola Company has its headquarters in Atlanta, Georgia and was invented in 1886. Its overall heads include the CEO, chairman and executive vice president (Coca-Cola Company, 2014). Since early 20th century, Coca-Cola Company has climbed the success ladder to compete with economic giants in the global market. The key strongholds that have contributed to the success of Coca-Cola Company over the years include proper marketing, innovation and globalization. Marketing application is through advertising techniques in TV commercials and participation of leaders in marketing. This pattern is how chief executives moved through villages and slums to make sure their product was in every spot of the world (Wise, 1999). To their innovative part, Coca-Cola has had to take a deliberate move from offering a single core product to a variety of beverages to cater to the diverse tastes and preferences in people. Their globalization aspect stems on establishing lasting supplier and customer partnerships that enabled them to further supply their products to numerous markets in the entire world. Coca-Cola has had to face competitors in their line of products such as PepsiCo Inc and Dr Pepper Snapple Group, formerly known as, Cadbury Schweppes Americas Beverages. The companies have used the same success tools that Coca-Cola has kept in place to be more competitive and have a market share of the beverages industry (Zmuda, N. 2009). According to PepsiCo Inc (2014), their innovativeness has created a total of 22 brands to satisfy different tastes and preferences of its consumers. This has made PepsiCo Inc reach more consumers. A similar move has been made by Dr Pepper Snapple Group who has created multiple brands to more than 50, which have different flavors and have been used by different customers in the entire world (Dr Pepper Snapple Group, 2014). Globalization has set in motion for PepsiCo Inc and Dr Pepper Snapple Group, branding by PepsiCo to entire schools, Pepsi- The Official Soft Drink of Cayuga secondary school. Through such a move, PepsiCo has penetrated many markets to sell their products by establishing themselves as a global beverage business. However, Dr Pepper Snapple Group haven’t been left behind, and their effort on globalization is highly obvious. Dr Pepper Snapple Group has embraced its first step to globalization that included buying back its distribution rights in the Asian-Pacific region for its non carbonated beverage drinks including Snapple, a move that automatically exposed them to World’s fastest growing market (Joseph and Val, 2009). While focusing on marketing, PepsiCo Inc has branded several schools in different nations, a key strategy in their tools of marketing. Dr Pepper Snapple has decided to tap the largest growing market in the entire world. PepsiCo Inc and Dr Pepper Snapple Group innovativeness cannot be underestimated. PepsiCo Inc has the ability to reach more than 200 nationalities and territories with their brands. They have been able to make their highest sales from global markets (PepsiCo Inc, 2014). Relating to Dr Pepper Snapple Group, their beverages have become renowned due to the various brands they offer. The individual brands of the Dr Pepper Snapple Group have gained favor from many cultures which have adored the brands of Vernors, Royal Crown Cola and...
References: Coca-Cola Company (2014). The Coca-Cola Brands. Retrieved from http://www.coca-colacompany.com
Dr Pepper Snapple Group (2014). Our Brands. Retrieved from http://www.drpeppersnapplegroup.com
Joseph, Z., & Val, R. (2009). Globalization, Policy and Comparative Research: Discourses of Globalization. What is the Resistance to Globalization and Monopolization of Minds, 29.
PepsiCo Inc (2014). Brands You Love. Retrieved from http://www.pepsico.com
Wise, R. (Jan/Feb, 1999). Why things got better at Coke. Journal of Business Strategy, 15-19.
Zmuda, N. (2009). Dr Pepper ups marketing spend, readies for growth. Advertising Age, 80(16), 18.
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