QUESTION ONE

Case Study: Performance Management at Coca Cola Background: Coca Cola is one of the world's largest beverage companies, with a presence in over 200 countries. The company has a diverse product portfolio, including carbonated soft drinks, juices, water, energy drinks, and sports drinks. In order to maintain its position as a market leader, Coca Cola has implemented a comprehensive performance management system that aligns individual goals with organizational objectives. Challenges: Coca Cola's performance management system faced several challenges in recent years. The company had a large and diverse workforce, which made it difficult to establish consistent performance standards across all functions and regions. Additionally, some employees felt that the performance evaluation process was unfair and subjective, which led to low morale and poor performance. Solution: Coca Cola implemented a new performance management system that focused on objective and transparent performance standards. The system was designed to be consistent across all functions and regions, and to provide employees with a clear understanding of what was expected of them. Key features of the system included: 1. Clearly defined goals: Each employee was given a set of goals that were aligned with the company's overall objectives. The goals were specific, measurable, achievable, relevant, and time-bound. 2. Regular feedback: Employees received regular feedback on their performance from their managers. Feedback was based on objective criteria, such as sales figures, customer satisfaction scores, and project deadlines. 3. Performance review meetings: Employees and managers met regularly to discuss progress against goals and identify areas for improvement. The meetings were structured and focused on identifying specific actions that could be taken to improve performance. 4. Rewards and recognition: High-performing employees were recognized and rewarded for their achievements. Rewards included bonuses, promotions, and opportunities for career development. Results: Coca Cola's new performance management system has had a positive impact on the company's performance. Employee engagement and morale have improved, and there has been a significant increase in productivity and sales. The system has also helped to identify and address performance issues more quickly, which has led to a more proactive approach to managing performance. Conclusion: Effective performance management is critical to the success of any organization. Coca Cola's performance management system demonstrates the importance of setting clear objectives, providing regular feedback, and aligning individual goals with organizational objectives. By implementing a transparent and objective system, Coca Cola has been able to improve employee engagement, productivity, and overall performance.

1.1. It is important that performance appraisals are implemented as part of a greater organisational performance management system. Evaluate the performance management model used at Coca Cola using examples from the case study (15)

1.2. Analyse the key features of Coca Cola's new performance management system (10)