Daft, the eleventh CEO of Coca-Cola, rose through the corporate ranks, joining the company in as a planning officer in his native Sydney, Australia. He replaced M.
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Douglas Ivester as CEO in February ; Ivester had held the position for a mere two years before leaving the company. Since becoming CEO, Daft has worked to correct the missteps of his predecessor and improve corporate efficiency. The product expansion is not immediately apparent to consumers in any one market worldwide rollouts of Diet Coke with Lemon and Vanilla Coke in notwithstanding , because Daft has seen to it that Coke products are Visit Vault at www. Products like Georgia brand ready-to-drink coffee and Marocha Green Tea are targeted at Japan, while Fioravanti fruit-flavored sodas sell best in Ecuador and Play is popular in South Africa.
Daft has put product development power into the hands of regional managers. Cummings Jr. President, Asia Group: Mary E. Fayard General Counsel: Deval L. Its ticker symbol is KO. It was formed in , when Coke bought its two largest bottling concerns, made them a corporation, and took them public. The company controls about 80 percent of the Coke bottling in the U. Where Coke is really king is outside the U. The company controls a 48 percent market share of the international soft drink market; Pepsi can claim only 17 percent.
Pepsi also has a joint venture with Lipton. In October , Pepsi introduced Pepsi One, a new one-calorie soft drink that is sweetened through a mix of aspartame and AceX, a sweetener newly approved by the FDA, for which it has high hopes.
Cadbury Schweppes: In U. The group, producer of Schweppes and Canada Dry mixers, acquired a partial interest in Dr. While Dr.
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The bag-in-box method, developed by Coke, reduces syrup waste and the need for operator attention. May Mixing with the competition Coke acquires the various Seagram mixers, including its popular ginger ale, tonic water and seltzer, from Pernod Ricard. Terms of the agreement were not disclosed. The new company, Beverage Partners Worldwide, will continue to produce and market ready-to-drink tea, coffee and herbal beverages. Mad River primarily produces teas, juices and carbonated beverages aimed at U. March Less Coke in our schools Coke scales back its aggressive marketing campaigns in schools.
Douglas Ivester. Daft begins to institute a number of changes to the management and operational structure of the company.
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This is not to say enthusiasm is not appreciated. In many cases, it is required. What are company officials concerned about? Maybe that people will figure out just how self-contained and complete the complex is, or that an interloper will somehow manage to snatch a free Sprite. Post Visit Vault at www. About 6, to 7, employees work downtown. Pay is good… Insiders say compensation at Big Red is good, but not stellar. Coke also offers bonuses for more senior employees.
I think people fail to realize how potentially lucrative this place is. There are secretaries floating around here who are millionaires. People talk about Microsoft and the stock options. I never work weekends. No casual days, as we are a professional organization that must always look that way.
Casual day is not in the corporate dictionary. Hard to get in, even harder to get up As one would expect, it can be hard to crack the Coca-Cola nut. While high-quality competition would seem to be a fact of life at most top-tier firms, at Coke, some employees report something closer to a systemic stifling of career ambitions. Former employees often indicate the difficulty of advancement as a reason they left. I was looking for more of an opportunity to work harder and Visit Vault at www.
They tend to hire lots of senior people from outside instead of hiring from within.
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One of the reasons I am not there now is that I would not suck up to certain people. It is an exclusive club. Some departments within certain divisions, such as brand management in the Americas Group, use summer internships for MBAs as a primary hiring tool, but others, such as finance, have no formal internship program. Recruiters estimate they look at about 1, applicants overall for this department, of whom go through the recruiting process.
Coke screens about applicants by phone or on-campus interviews, brings about 60 on campus for a second round, and hires about 15 or 20 of these. Many people who work for Coke get their start as outside contractors or consultants, insiders tell us. For its brand and finance positions, Coca-Cola looks for MBAs who already have several years of experience.
For example, an employee Visit Vault at www. As an international company Coca-Cola also is excited to find candidates with foreign language skills, particularly Russian, Chinese, French, and Spanish. Coca-Cola has a fax line devoted to employment applicants, The phone number for global staffing is: Cover letters and resumes can also be sent via conventional mail to: The Coca-Cola Company P. Buffett recalls that he once took his grandson to eat at an Omaha pizza parlor where he was surprised to discover that Pepsi, not Coke was served. Aside from winning market share, boosting shareholder value is what The Coca-Cola Company is all about.
Note that more than almost every other American company, Coca-Cola subscribes to and has benefited from the idea of economic value added EVA. The Coca-Cola Company Getting Hired annual operating profit minus a special charge for the cost of capital. For those going through the on-campus recruiting process, there are a couple of on-campus interviews, and then an all-day session in Atlanta. Questions to Expect 1. Why do you want to work for The Coca-Cola Company?
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What would the other members of your business school team have to say about you? Give me an example of what you consider a bad marketing campaign, and why you think it was unsuccessful. Or: If you want to increase market share and brand recognition among the demographic group in the U. Tell me about what you consider your most satisfying accomplishment to date.
Remember what Coke looks for in employees: bright, talented individuals who are loyal. Choose something that shows how you helped a team or committee or some larger group, and then talk about how helping the larger group brought you satisfaction. How would you feel about work overseas or elsewhere in the U.
Be prepared to convince your interviewer of this with any examples that show such dedication to your professional life.
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Where do you see yourself in 10 years? A typical interview question that holds special weight at Coke. They want conservative people who are into adding shareholder value. Because the company places such a premium on loyalty and turnover is low, interviewers are generally longtime company men and women. I know that the Coca-Cola Company has over the past 10 years steered away from diversification. How exactly does this strategy positively affect shareholder value?
Do you expect this strategy to continue in the 21st century? How did you get here, and where do see yourself next? With all the pundits bemoaning the homogenizing of global culture, and considering the recent backlash against Nike and Microsoft, is The Coca-Cola Company concerned about a downside to its pervasiveness strategy?
I know that The Coca-Cola Company stuck by Mexico when it was down in , and that really paid off. Do you think this is healthy development for the company? Will it cut into sales of other Coke products? Show that you stay current with latest developments at Coke. This requires working with attorneys to draft shareholders agreements, drafting purchasing agreements, analyzing production projections, and flying around the world to close deals. About three MBAs are hired into this group a year.
The four interns in this sub-department get full-time offers. The positions are more operations-oriented than strategic. About four interns are hired a year; they do not get offers to return. This marketing division concentrates on sports and other big-exposure events, such as all those Hollywood awards shows. It was a well-structured experience that exceeded my initial expectations. A lot of it is looking around the company to see who has expertise in certain areas, and building energy around your ideas.
On the phone with the consumer research department to ask if they can scrounge up sales figures in the area where the ad campaign will be tested.
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