Coca-Cola knows the life force of a strong company is ongoing feedback from stakeholders. Learn how Coca-Cola engages with a broad spectrum of stakeholder groups to continuously improve its sustainability-based strategy.
With an eye toward informed decision-making, Coca-Cola widened its stakeholder pool to include various groups from business, government, and public sectors. Within what it calls its “Golden Triangle,” the company applies a multi-pronged approach to open dialogue.
> Employees. In addition to engagement surveys, senior executive updates, and open meetings, Coca-Cola also promotes an ethics hotline that employees can use to anonymously report behavior that is counter to sustainability practices.
> Customers. In order to gain buy-in and feedback on its sustainability efforts, Coca-Cola assigns dedicated account teams to each of its customers and includes them in joint business planning, value creation initiatives, social media engagement, and surveys.
> Bottlers and Suppliers. These partners are included in joint planning initiatives and have a prominent seat at Global Environment Councils, where partners worldwide gather to solve environmental concerns.
> Regulatory entities. From local agencies to international councils, Coca-Cola engages lawmakers, oversight boards, and advisory panels through its foreign investment conferences, lobby initiatives, and strategic outreach engagements.
> Policy, Industry and Trade Organizations. With such a vast array of partnerships and interests attached to the Coca-Cola brand, the corporation regularly engages in industry collaborations, joint value-creation initiatives, and policy engagement activities to gain a better understanding of the expectations of various stakeholders.
> Consumers. With a high standard for transparency and citizenship, Coca-Cola engages diverse stakeholder groups through myriad channels. Hotlines, local websites with open comments, research, surveys, social media, and focus groups are just a few.
> Communities. Input from its diverse communities is a priority to Coca-Cola, so each division reaches out via community meetings, plant visits, partnerships on common issues, sponsorships, and Q&A sessions at universities.