Prepare a 10- to 12-slide Microsoft® PowerPoint® presentation with speaker’s notes using the same organization you selected in Week 2. Create a business plan for this organization to enter a global market in which they are not already doing business Instructions will be attached.
Aspect of Design Thinking
University of Phoenix
November 9, 2020
Analysis of the Elements of Design Thinking and Innovation
The company designers often use the design thinking approach to solve various societal compromises to arrive at the most effective solutions facing society. In specific advances, the Coca-Cola Company advances multiple design strategies to ensure that they meet society’s business gaps. The Company is confirmed to be of good performance in the S& P in the S& P for a long time. Its performance can be considered to be 219%.According to Naiman (2017), achievements that the Coca-Cola Company has made is majorly due to its application of strategy and innovations.
The company often redesigns its brand periodically. The strategy of redesigning the brand turns out to be very useful. It is an effective marketing strategy that is centered on playing with the customer’s psychology. Each moment the Company redesigns its brand, the customers tend to have a different perspective of the product. The strategy also ensures that their product reaches out to many people who are likely to refer other clients to the company products. Rebranding simulates business needs. Coca Cola Company further uses the rebranding strategy to introduce its new products into the market.
Curiosity and Innovativeness
Curiosity is an essential step in design thinking. The Coca-Cola Company uses this concept to identify various business gaps. A perfect example is an incident of using robots by the company for marketing and business operations. Such strategies make customers get more interested in company products. The Company has thus succeeded in meeting the societal need by involving robots in its beverage supply strategy. Cobit1 was improved into Cobit 2, which is very useful. The Company also uses various innovative ways to ensure that its products are selling out globally. A perfect innovation that the Company has achieved includes Coca-Cola honest tea brand, which was an outstanding achievement in the coffee category.The bottled beverages available in different Cubano, mocha, and unsweet varieties are yet significant innovations that solved several clients’ needs.
The Coca-Cola Company employseffectively designed elements of diversity. The Company diversifies its services to accommodate everyone globally. The products are designed in a manner that everyone feels represented.In 2016, the company advanced a marketing strategy to reach out to its clients who were shying away from Pakistan’s products. The diversity strategy involved enabling the deaf to enjoy their Coke Studio festival. In advancing the design strategies, the Company tends to consider the time factor in reaching its strategy. They take the shortest time to come up with innovative approaches. The quick time response ensures that the company strategies are intergraded quickly and in an effectively.The company’s creative process ensures that customers are availed of various products from which they can choose. The Company has a global diversity mission aimed at reaching out to a massive target audience. Diversity is also accompanied by fairness in all business aspects.Diversity can be considered in the company’s heart as it aims to provide an enabling business environment that ensures equality in information access and opportunities. The Company ensures that it advances fairness in its competitive strategies. Fair comparative approaches hardly tarnish the company image. Most firms that use dubious means to compete with other potential busses turn out to fail in the long run (Banutu, 2012).
Optimal use of time ensures the success of the Coca Cola Company. In most cases, there arise business gaps that require a quick response.The Coca Cola company is designed so that its team is responsible for advancing effective emergency strategies. The marketing team, for instance, has a variety of marketing strategies.Failure of a given process automatically calls for the advancement of an optional method.
Areas the Company Excels
The Coca Cola Company excels in various areas due to their well laid out strategies. The Company excels in areas revolving around curiosity.The company is a risk-taker and would do anything to realize success—the Company layout strategies of identifying various businesses and lays out the selected regions’ sales strategies. In most cases, the Company invests a high volume of stock in areas associated with such risks. It is often urged that areas of high risks are often associated with increased rates of returns. The Company is never afraid of venturing into new business avenues with uncertain business returns and risks. In most cases, organizations ensure that they only invest in regions they are familiar with, which is not the case with the Coca Cola Company.A perfect example that the Company explored curiosity and risk-taking was the instance that the design team introduced the uniquely designed bottles for Diet Coke.
The Company also excels in the problem-solving issue. The organization has a team of professionals meant to deal with various challenging situations. Coca Cola is an international organization with global brands and is faced with several challenges. The Company diversifies its activities to bear the chances of risks associated with given products.The company advances conventional problem-solving strategies, such as introducing the color-changing label on the drink’s bottles. The bottles were used to alert the customers on safe beverages for consumption. The firm is dedicated to problem-solving and has also excelled in diversity. It diversifies its production and has branches globally. Variety ensures the Coca-Cola Company spreads out risks, and failure in one product does not affect the whole Company. It is also chartered into the music industry through the coke studio programmers. The programs bring together several people and can be used as a perfect marketing avenue.
Areas of Coca-ColaNeeds Improvement
The Coca-Cola Company has been performing exemplarily in its service delivery. However, there are a few areas that the Company would need to improve on. The Company should improve on the need for faster Innovation. With advanced technology, there is a need for more advanced innovation measures.The Company often takes a long time to create a prototypeuseful for the right audience. Innovation would ensure that the Company can effectively improve its production strategies. According tocurrent technology, staff members should be encouraged and trained to consider more innovation.
In as much as the Company avails a variety of products to customers, the Company does not consider its customers’ health standards. Most customers have raised concerns about the need for the Coca-Cola Company to put in health standards; some products do not meet health standards. The Company needs to improve its production to ensure that it provides quality products that meet health requirements. It should abandon the use of some chemicals that could be harmful to human health.
The Company also has to improve its diversity. Being a global company, Coca-Cola is expected to provide international services. In most cases, the Company sideline gave customers in its service delivery. For instance, the Coke-Studio program should be available globally to ensure that everyone is entertained with its services. The Company often neglects the concept of curiosity. The Company should invest in research on the best innovation strategies before advancing taking action. Some of the curiosity measures of the Company have compromised the operations within the Company. The design team should be responsive to the customer’s requests. In most cases, the design team ignores customers’ feedback in various media, especially social media. Response to the client’s concern is essential since it determines the Company’s success (Ling, 2017).
The concept of curiosity calls for detailed research studies before the advancement of any intervention measures. The innovations should be in line with current technological trends. The Company w lose its market to other potential competitors in case if it does not consider advancing appropriate innovations. Technological irrelevance has resulted in the collapse of several companies. Therefore, the Company has to take very effective innovation measures. On diversity, the Company should strive to have a global outlook. The sales department should advance strategies that ensure that the Company is well presented in every country. The Company should further intensify its advertisement strategies. The Company also has to conform to the health standard requirements.
Banutu-Gomez, M. B. (2012). Coca-Cola: International business strategy for globalization. The Business & Management Review, 3(1), 155.
Ling, X. (2017). Customer Relationship Management: Case study Coca-Cola Company.
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