The paper 'Reward Management at Coca-Cola Company " is a good example of a management case study. Recent researchers have focused on trends of performance management systems and reward management, and their impacts on towards organizational success and effectiveness (Aguinis 2009). Organizational managers and researchers equally have had the opinion that performance appraisals anchored on performance measurement systems bear a positive effect on the company’ s performance. Therefore, this paper will outline, analyze and evaluate the performance management system used by Coca Cola to achieve its key strategic goals. Coca Cola Company uses 360-degree feedback as its performance management systems to gauge and reward employees.
The report will by various current theories and practices from the literature which relate to performance management systems. Introduction Virtually all organizations have performance management systems which are anticipated to achieve numerous vital objectives with regard to human capital management (Aguinis, Joo & Gottfredson 2011, p. 530). Performance measurement in theoretical and practical fields has drawn great interest in recent years. The companies are currently integrating performance management system which can help them meet their objectives. Cokins (2005) claimed that the human resource department in major organizations has been tasked to recommend the most effective performance management systems which is can be understood by both managers and employees in terms of implementation.
However, the major objective of implementing performance management systems is always to reward and improve the performance of the hardworking employees and to eliminate incompetent and poor performers (Liu et al. 2007, p. 6). As a big reputable company, Coca Cola has not been left behind in the implementation of performance management systems. Based on the information, this report will outline, analyze and evaluate the performance management system used by Coca Cola to achieve its key strategic goals.
Coca Cola uses 360-degree feedback as to their performance management systems. Company Overview The Coca-Cola Company is a non-alcoholic beverage producer, marketer distributor. The company was first started in 1889 Atlanta US and has since expanded and now operate in over 200 countries across the globe (Coca-Cola Company 2015). The company is ranked as the market leader in the beverage industry with over 500 products in the market. Coca-Cola carries out its operation on a franchise basis since 1889.
With this arrangement, Coca-Cola Company just manufactures syrup and beverage concentrate which it sells to various bottlers across the globe that have exclusive rights. Some of the Coca-Cola products consisting of Coca-Cola, Oasis, Dasani Sensations, Fanta, Schweppes, Seasons, Full Throttle, Nordic Mist, Georgia, Minute Maid and Tropical among others (Coca-Cola Company 2015). Market research conducted about beverages stated that over 50 billion beverages drank every day globally and out of these, 1.6 billion of those drinks have Coca-Cola trademark. An annual company report of 2013 claimed that the company employees more than 130,600 people across the globe.
The company has maintained its top position in the market leader for more than a hundred years. However, with competition increasing from Pepsi, Cott and Britvic, Coca-Cola cannot just wait to be overtaken but to cement its position in the market. Therefore, it has implemented a performance management system within its organization to ensure it has the best employees which can realize its vision, mission and objectives.
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