Final draft of the paper

Coca-Cola Company Name of Student Institution Affiliation Contents TOC \o "1-3" \h \z \u Coca Cola Company PAGEREF _Toc1403084 \h 3Background PAGEREF _Toc1403085 \h 3Competitive Strategies PAGEREF _Toc1403086 \h 3Coca-Cola Company PAGEREF _Toc1403087 \h 4Price Elasticity of Demand: Pricing Decisions PAGEREF _Toc1403088 \h 4Costs of Production: Output Decisions PAGEREF _Toc1403089 \h 5Recommendation: Future Production PAGEREF _Toc1403090 \h 6Conditions: Firm’s Actions PAGEREF _Toc1403091 \h 6Price Elasticity of Demand: Analyze PAGEREF _Toc1403092 \h 6Costs of Production: Profitability PAGEREF _Toc1403093 \h 6Overall Market: Market Share PAGEREF _Toc1403094 \h 6Overall Market: Barriers to Entry PAGEREF _Toc1403095 \h 6Overall Market: Market Structure PAGEREF _Toc1403096 \h 6Recommendation: Recommended Action PAGEREF _Toc1403097 \h 6Conditions: Impact PAGEREF _Toc1403098 \h 6Price Elasticity of Demand: Consumer Responsiveness PAGEREF _Toc1403099 \h 6Recommendation: Sustain its Success PAGEREF _Toc1403100 \h 6 Coca Cola Company Background Organizations exist in complex business environments marred with varying economic, political, social, technological legal issues that influence their performance and competitiveness. Both external and internal conditions largely affect the operations and strategic decisions taken by firms in the course of their operations. Globalization, on the other hand, has shifted the competitive landscape in various markets thus creating a complex macro-environment for businesses operate in. Adapting to the changing business environment remains crucial in the success of an organization by incorporating new strategies that seek to maintain and improve the competitive advantage of an organization. Despite the changing business environment, a crucial aspect of the success of a business is the environment in which it operates. According to Thompson and Strickland (2007), essential elements and competitive strategies involve understanding the competitive process in a given industry which is vital in establishing the main source of competitive pressure within the industry and the strength of a given competitive strategy. Firms continue to adopt multiple strategies in a bid to improve competitiveness, counter growing competition, increase market share, increase profitability and sustain their success over time. Such strategies include continuous product development, specialization, and product diversification, increased distribution and product growth to achieve a competitive edge. Competitive business strategies are meant to position a company within an industry elevated for a long time thus remaining profitable and able to weed out the possible competition. An effective strategy influences the environment in which the firm operates, therefore, enabling its operations to succeed against the competitors. Understanding the strengths and weaknesses of the competitors helps an organization in formulating effective strategies and taking advantage of the competition (Aaker, 1990). Organizations seeking success must, therefore, improve their operational effectiveness, formulate practical and advanced strategies to counter competition and promote growth and engage deliberate strategic decisions that enhance their strate...