packing materials. The company has a global-based demand for the products and contribute over 500 different products in many countries. The application involves day to day operations with the 22
MGT497 Strategic Information Technology Plan (Final Paper) marketing and distribution of the product. Services focus on the financial part of optimization. Inventory planning assesses the impact of inventory levels. Sales, operations, and planning make collaborating easy in critical decisions. Factors that block the success of innovation is inevitable for any business. It takes a lot of trial and error to the right answer for internal processes, systems, or products and services. Some factors that can block the success of innovation are time, the number of resources available, and the regulations placed on the company by the government (Virdocs.com. (2019). In some cases, the innovators feel pressured with theses restraints causing the lack of innovation. The pressure creates a cease in creativity. To move past failures, you must know what happened and understand what occurred for the outcomes. Taking an honest evaluation from consumers can give insights as to what went wrong. Understanding what happened can identify the process that caused the mistake. Then let it go and start over. Just being at peace with the failure and not forgetting about the past but not focusing on history will allow the business to move forward in the innovation process. The cost consideration in development is another factor that analyses the event of innovation. Having the numbers straight will lead to better business decisions. Knowing what the product will cost, what revenue will it bring and what is the market price are all great areas to research during the innovation process. The idea here to evaluate the possible risk and gains for the product before the launch. Having this information will guarantee the cost associated with developing the product will generate a profit and not a loss (Coca-Cola, n.d.). For example, The Coca Cola Company invested five billion dollars in the India business between 2011 and 2010. This generates an increase of USD three billion beyond what they signed to invest in the market. The investment is made on increasing bottling lines, adding new bottling plants, and enhancing back end chain infrastructures. They predicted the line would double the revue global by and went ahead with 23
MGT497 Strategic Information Technology Plan (Final Paper) the investment (Coca-Cola to invest Rs 28,000 cry in India, n.d.). The available resources for commercializing are available for advertising in the Olympic games and the super bowl. These are significant resources that give Coke Cola a competitive advantage for commercialization. The jingle I remember is the "I Like to Buy the World a Coke" ad from 1971. Even though years have passed, it is still updated and used repeatedly to different generations and gets the same response in sales every time. The company uses a semi-parametric information-based estimate to estimate strategies in prices and advertising. The procedures are consistent and efficient. They
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- Fall '12
- The Coca-Cola Company