Use the Internet or Strayer Library to research a global business or an organization of your choice. Next, analyze the overall effect of global competition on the business or the organization that you researched. Suggest one (1) strategy that the business leader can use in order to improve business competition and efficiency. Provide a rationale for your response.
I have selected Coca Cola for this discussion assignment. Coca Cola is a global brand which has its presence in many countries of the world. Coca cola has many competitors in the world including Pepsi, Nestle and Dr. Pepper (Names of Competitors, 2016). Coca Cola is also affected by the different strategies its competitors adopt. Coca Cola comes up with innovative solutions to counter its competitors. For example, we hear a lot about sustainability and environment friendliness. Coca Cola is aware that it has to beat its competitors in this field, therefore, they have adopted to a a sustainability program since 2013 where they focus on using recyclable material for its bottles and engage in water conservation programs all over the world.
To suggest one strategy, I would say that Coca Cola leadership needs to realize the potential of social media and engage efficiently with its existing customers and potential customers. They need to organize an efficient team of customer service providers who can reach out to the users at different social media platforms and inform them about what they are doing as part of their sustainability efforts and how they are doing it better than their competitors. Social media consists of primarily young consumers. Coca Cola can convert these young consumers to be their loyal consumers and try and get long term competitive advantage.
To deal with the business competition and promote business efficiency, the CEO of Microsoft Inc should expand the product features and intensify the hardware development programs and efforts. Such aggressive business efforts will help in promoting the competitiveness of the company in the global markets. It is also recommendable for the company to invest in other diverse products and services. It is because the dependent on the same products places the company at a high risks (Peteraf, Gamble & Thompson Jr, 2014). Diversification to other products and innovations will help in increasing the overall revenue of the company, which is vital because the revenues for the computer hardware and software have been reducing over the last few years. The company needs some new strategy to become successful in the increasingly competitive computer markets.