Last Updated 10 Aug 2020

Functional Areas of two businesses

Category business
Essay type Research
Words 666 (2 pages)
Views 333
Table of contents

Importance of Functional Areas in Achieving Aims and Objectives

MAXIMIZING RETURN TO SHAREOWNERS

Every organisation has this aim and Coca Cola also has. It wants to give more return to its shareowners by making more profit. The marketing department, the research and development department and the finance department will help Coca Cola to achieve this objective. The marketing department carries out its research to find out what customers want and they analyses the data they collected from their research. They see if they can give to customers, what they want.

Haven’t found the relevant content? Hire a subject expert to help you with Functional Areas of two businesses

$35.80 for a 2-page paper

Hire verified expert

The research and development department works on making complete a new product or changing existing products and making healthier and environmentally friendly without changing taste that customers like in Coca Cola's products. The finance department takes care of the business's finance and monitor the business's inflows and outflows. The finance department ensures that the company's expenditures are not higher than income and if it is higher, they will analyse it and find a solution. The finance department also produces cash flow forecast, budgets, and financial reports every quarter so Coca Cola is able to see its progress in meeting objectives.

As the marketing finds out what products customers want, the R & D tries to make it happen. When customers welcome those products, Coca Cola makes lot of profit.

BEING A GREAT PLACE TO WORK

The Coca Cola system's greatest asset is their team of talented and experienced people across the world. As the Coca Cola is a global icon, they have endless opportunities for best experienced professionals. At Coca Cola, the human resource department and the marketing department have responsibility of meeting this objective.

The marketing department contributes by posting attractive jobs advertisements for Coca Cola Company in their website, newspapers, posters and advert on their delivery trucks. The human resource department is more responsible than marketing in achieving this objective. The HR department recruits people for the Coca Cola and they monitors working environment in the company, health and safety of employees, human rights and welfare policy. Coca Cola rewards employees through a complete and comprehensive package of pay, benefits and learning and development programmes, including Coca Cola University. Coca Cola University aims to provide experiences that equip people with practical skills and knowledge in all career areas within Coca Cola.

Coca Cola provides a variety of market competitive benefits to address employees' basic and life changing benefit needs. The HR department at Coca Cola regularly assesses its benefits programme to ensure that employees receive those benefits and are provided with options that address individual issues. Read also about functional areas of McDonald's

BRINGING TO THE WORLD A PORTFOLIO OF BEVERAGE BRANDS

The marketing department, the research and development department and the production department helps the company to meet this objective. To add a new product or a new brand to Coca Cola's beverages portfolio, they need to find out what types of products customers want or expect and what types of flavour they want and the marketing department helps Coca Cola in finding out this.

As I have explained early the research and development gets ideas from the marketing department on what kind of products they want to make and they implements those ideas ensuring that they fulfil customers' desire and needs. The production department also play a critical role in this process. It produces enough quantity of those products so they can deliver their new or existing products across six continents on time. Coca Cola has a range of beverages for every type of people.

If customers want diet drinks, it has diet coke, still fanta and energy drinks without sugar. If customers don't like one flavour every time, it has variety of flavours in most of its brands like coke, diet coke, coke zero, coke cherry and coke lime. If customers want healthier products, it has Vitamin water, energy drinks, juices, juice drinks, tea, coffee and mineral water. Coca Cola is in more than 200 countries and is one of the largest companies in the world therefore it is a global citizen and it must respect government policies, environment and communities in countries it operates.

Haven’t found the relevant content? Hire a subject expert to help you with Functional Areas of two businesses

$35.80 for a 2-page paper

Hire verified expert

Cite this page

Functional Areas of two businesses. (2018, Apr 04). Retrieved from https://phdessay.com/functional-areas-of-two-businesses/

Not Finding What You Need?

Search for essay samples now

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Save time and let our verified experts help you.

Hire verified expert