Coke 2003

EMPLOY
PROFILE
VAULT EMPLOYER PROFILE:
THE COCA-COLA
COMPANY
BY THE STAFF OF VAULT
2002 Vault Inc.
Copyright 2002 by Vault Inc. All rights reserved.

All information in this book is subject to change without notice. Vault makes no claims as to
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Library of Congress CIP Data is available.
ISBN 158131247-4
Printed in the United States of America
The Coca-Cola Company
Table of Contents
INTRODUCTION
Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1
The Coca-Cola Company at a Glance . . . . . . . . . . . . . . . . . . . . . . . . . . .2
THE SCOOP
History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
Business Description . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4
Major Products & Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9
Compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10
ORGANIZATION
11
CEOs Bio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11

Locations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12
Key Officers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12
Ownership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13
Subsidiaries/Major Divisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13
Key Competitors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14
VAULT NEWSWIRE
15
OUR SURVEY SAYS
17
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GETTING HIRED
25
Hiring Process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25

Preparing for the Interview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .26
Questions to Expect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .27
Questions to Ask . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .28
ON THE JOB
31
Job Descriptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31

A Day in the Life . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33
Departments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34
Career Path . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .36
FINAL ANALYSIS
39
RECOMMENDED READING
41
Introduction
Overview
You know youre big when you regard water as your chief competitor. Or
when your delivery trucks are cheered when they enter a country for the first
time. Or, for that matter, when one of the worlds most elusive pieces of lore
is your secret formula for a drink that is (mostly) fizzy sugar water.
With $20 billion in annual revenue, The Coca-Cola Company has been
extraordinarily successful, especially when one considers that the company
peddles nonessential products. The company, of course, does not view its
products as dispensable, but rather as the prime liquid choices you need to
sustain your life. It views its growth in terms of stomach share rather than
market share, and is intent on capturing the worlds thirst.
This international company is an empire unto itself; Coca-Cola employees are
fiercely loyal to their employer. Cokes late CEO Roberto Goizueta never
sold the 100 shares of company stock he owned when he fled Cuba. Legions
of employees wont be caught dead with a Pepsi in their hands (or even FritoLay products owned by Pepsi). Many of them exude a pride and enthusiasm
for their employer that is remarkably untempered by either cynicism or a
sense of individual gain.

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The Coca-Cola Company at a Glance

Headquarters
1 Coca-Cola Plaza
Atlanta, GA 30313
Phone: 404-676-2121
Fax: 404-676-6792
THE STATS
Employer type: Public company
Stock listing: NYSE (Symbol: KO)
Employees: 38,000 (2001)
Revenues: $20.1 billion (2001)
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UPPERS
All the Coke you can drink

Kick-ass campus
Unparalleled prestige
Stock options for a historically
lucrative company
DOWNERS
Conservative atmosphere
Can be difficult to advance
Formal dress code
Highly political company
Pepsi products forbidden
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History
The Real Thing was invented in 1886 by Atlanta pharmacist John S.
Pemberton in the basement of his house. Pembertons bookkeeper, Frank
Robinson, named the product after two of its ingredients: coca leaves and
kola nuts. Robinson also came up with the distinctive script used for the
drinks name.
In 1891, druggist Asa Candler bought the rights to the drink for $2,300. The
next year, he formed the Coca-Cola Company. As a fountain drink, Coke
spread quickly. By 1895, it was available in all U.S. states, and by 1898, it
had entered Canada and Mexico.
Although Coke was popular as a fountain drink, it was as a bottled drink that
the beverage exploded like a can of soda thats been shaken too long. Candler
sold most U.S. bottling rights in 1899 for $1. Within 20 years, a regional
bottling system included 1,000 bottlers. Bottling operations went up in Cuba,
Panama, Puerto Rico, the Philippines and Guam in the early part of the
century, and a manufacturing plant was established in France in 1920. When
Candler sold the company to Atlanta banker Ernest Woodruff in 1916, the
company was already worth $25 million. That year, the company also
unveiled the famous contour bottle shape, based loosely on the coca bean.
Woodruffs son Robert was named president of the company in the early
1920s, and remained influential into the 1980s, when he was instrumental in
the selection of Roberto Goizueta to run Coca-Cola. Robert Woodruffs main
feat was to spread the Coke gospel throughout the world. Although Cokes
relationship with the Olympics was probably most glaringly obvious in 1996,
when the Coke-advertising-smeared Games were held in The Coca-Cola
Companys hometown of Atlanta, Cokes history with the Olympics dates
back to 1926, when Woodruff first signed on as a sponsor. Woodruffs other
pioneering efforts included the six-pack and automatic fountain dispensers.
Coke has been responsible for a litany of successful marketing campaigns and
slogans. From The Pause that Refreshes (1929) to Its the Real Thing
(1941), Cokes slogans have infiltrated the language, while infectious
commercials, ranging from the Mean Joe Greene commercial to Id like to
teach the world to sing, have infused the popular consciousness.

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But the history of Coke is also partially the history of its archrival, Pepsi. As
Goizueta was fond of saying, if Pepsi did not exist, Coke would have to
invent it. The cola wars officially began in 1898, when Pepsi-Cola was
invented as a drink to cure dyspepsia. Pepsi was not a serious competitor
until the 1930s, when the Loft candy store chain, upset that Coke would not
sell syrup at a discount, carried the Pepsi brand. The cola wars intensified in
the middle of World War II, when Coca-Cola surreptitiously attempted to get
an English legal council to overrule a Canadian Supreme Court decision
(which had ruled that name Pepsi-Cola was not a copyright infringement).
Pepsi had to fly an attorney to London on an Army bomber, and the council
upheld the Canadian decision.
Although no one foresees a resolution to the cola wars, Coke has the clear
upper hand for now, especially in overseas markets. Pepsi at one time had
boxed up the Soviet and Eastern European market under exclusive deals, but
with the fall of Communism, those markets have opened up to Coke, which
now leads in those countries. Other traditionally Pepsi-led markets such as
India and Venezuela are also now dominated by Coke.
Even one of the most memorable business blunders of our time failed to halt
the Coke juggernaut. In April 1985, alarmed by taste tests that showed that
consumers actually preferred the flavor of Pepsi to Coke, the company
announced it was changing its almost century-old formula. New Coke
bombed, and horrified customers stockpiled cases of the original formula,
while Pepsi gloated and watched its market share rise. Shamed by their
hubris, Coke officials reintroduced its original formula as Coca-Cola Classic
a few months later. Cokes market share has soared since. In fact, Pepsis
market share is now actually lower than at the time of the formula fiasco.
Business Description
Big red
The Coca-Cola Company makes about 300 brands of drinks and sells its
products in 200 countries. Flagship brand Coca-Cola is the worlds bestselling soft drink, and the most recognized trademark on the planet. Other
core brands include Sprite, Fanta and Diet Coke. As for non-core brands,
the world traveler may recognize such Coca-Cola products such as Delaware
Punch (Mexico), Kuat (Brazil), Nordic Mist (Chile), Gold Spot (Nigeria),
Play (South Africa), Lilt (U.K.), Smart (China), Thums Up (India), or Georgia
Coffee (Japan). Those unfamiliar with these brands may sample them at the
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free-flowing fountains in the Coca-Cola museum in Atlanta. In the United

States, sales of Coca-Cola products accounted for 43.7% of the nations $61.7
billion carbonated beverage industry in 2001, with Coca-Cola Classic
capturing a healthy 19.9% of that market. For its part, archrival PepsiCo
(known around Atlanta as The P company) has a 31.6% market share.
Shrimp farming is nothing. Shareholder value is

everything.
Over the past two decades, Coca-Cola has witnessed a fundamental shift in
its business strategy. In the early 1980s, the company dabbled in other areas
for a while, acquiring Columbia Pictures in 1982 and even entering the
shrimp farming business. Coke has since divested itself of such distractions
(selling Columbia Pictures to Sony in 1989) and today is purely a beverage
purveyor. The shift is largely the product of the vision of former CEO Robert
Goizueta, whose intense focus on maximizing shareholder value steered the
company away from diversification and also gave it an outstanding record on
Wall Street. As of March 2002, Cokes stock had averaged returns of 30%
over an 11-year period, compared to 17% for the S&P 500. In November
2001, Fortune magazine listed the Coca-Cola Company as Americas 13th
greatest wealth creator, (falling from second in 1998) measured in terms of
economic value added and market value added.
As economies tumble, tap water tastes better

Coke derives a full 76 percent of its profits from overseas operations. Thus,
given worldwide economic turmoil, industry observers were hardly surprised
when Coke announced that its profits for the third quarter 1998 had fallen by
13 percent compared to third quarter 1997. In a statement, then-chairman M.
Douglas Ivester pointed out: With a business system operating in nearly 200
countries, we are not immune to the economic difficulties existing in many
markets around the world. Company 3Q sales figures bore out Mr. Ivesters
observation. In Japan, which provides Coke with 20% of its worldwide
profits, sales stayed flat, while in troubled Indonesia case volume (a measure
of sales) took a 21% plunge. In Russia, a particular focus of marketing efforts
and investment, sales tumbled by 20% from third quarter 1997, and in
Germany, the company bemoaned bad weather and continued structural
change for a 9% dip in sales. As for unsteady Brazil, Coke found itself
losing out to cut-rate local brands. One Brazilian told The New York Times:
Coke is much better, but too expensive.

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By the end of 2001, new leadership and changing conditions had restored
some of the bubble to Cokes outlook. Worldwide case sales had climbed
12% between 1999 and 2001, with formerly troubled Indonesia reporting a
32% increase in 2000 alone. The other Asian markets also responded well to
the company under Doug Daft, showing the value of his experience in the
region.
If early signs of recovery and Doug Dafts strong leadership havent kept
Coke employees and shareholders from despair, Warren Buffetts continued
support sure has. The Nebraskan billionaire, whose Berkshire Hathaway
controls about 200 million shares of Coca-Cola, doesnt plan to start dumping
Coke stock anytime soon. In given countries at given times there will be
hiccups, Buffett told The New York Times, but that doesnt take your eye off
where you want to be 10 or 15 years from now, which is to have everybody
drinking nothing but Coke.
Coke is it all over

Cokes marketing strategy focuses on what it calls the three Ps: Preference,
Pervasiveness, and the Price/Value relationship of company brands. The
operative term here is pervasiveness. In 1927, Cokes slogan was Around
the Corner from Everywhere the current strategy could well be called
Everywhere.
First, with a strategy that reflects the tobacco industrys get em while
theyre young approach, Coke is flooding American public schools with its
products. In addition to signing exclusive contracts with school systems, the
company has boosted its presence on campus by building softball fields,
establishing teacher awards at K-12 schools and offering scholarships and
internships at state universities.
Second, theres sports. Cokes strenuous marketing efforts at the 1996
Summer Olympics left a bad taste in the worlds collective mouth. But that
didnt stop the company from entering into a global marketing partnership
with NASCAR racing, or from setting up an association with World Cup
Soccer with a campaign called Eat Football, Sleep Football, Drink CocaCola.
Finally, theres, well, everywhere else. The company aims to put vending
machines in tanning salons, hair salons, dance studios basically everywhere
anyone could conceivably drink. The company claimed to have over 2.4
million coolers, dispensers and vending machines in operation. Coke is also
trying to outmuscle competitors with tactics such as offering incentives to
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convenience store owners and movie theater concessionaires for giving it

extra display space (movie theater audiences, as temporary captives, are an
especially appealing target for Coke).
A watery goal
Lest you think Coke is wedded to carbonation, think again. In February 1999,
Coke rolled out its first line of bottled spring water, Dasani. The introduction
of Cokes new bottled water line was supposed to be secret, but fittingly, news
of its debut was leaked. (In 1998 Pepsi introduced its own brand of bottled
water in the United States: Aquafina.) Coke also sells a bottled water called
BonAqua in several foreign countries. Coke is thought to have resisted
offering its own brand of bottled water because the size of the water market
is relatively small compared to the soft drink market. According to analysts,
the U.S. bottled water market tripled in size over 10 years to $5.7 billion in
2000 (a mere fraction of the $68 billion soft drink market), becoming now big
enough to tempt Coke. Other considerations include profit margins simply
not as high in the bottled water market and the possibility that water sales
may cannibalize high margin soft drink sales. Nonetheless, Cokes entry into
the bottled water market has been strong; Dasani was the No. 2 brand of
bottled water in the U.S. in 2001, holding 8.6% of the market.
Coke versus the competition

Naturally, the competition hasnt taken such aggressive marketing and
business strategies lying down. Au contraire, Cokes competitors, especially
Pepsi, have frequently and vociferously protested Big Reds drive to get
bigger, notably by petitioning antitrust regulators around the world.
In the United States, Pepsi filed a suit in June 1998 claiming that Cokes
practice of muscling competition out of deals with independent distributors
such as movie theaters and restaurants violated antitrust law. Coke quickly
moved to dismiss. The case is still under appeal
In Europe, a particularly stinging setback came in September 1998, when
French antitrust regulators rejected Cokes proposed acquisition of the quirky
Orangina Brand, held by French-based Pernod-Ricard S.A. The deal had
been challenged by, you guessed it, Pepsi, whose products are distributed by
Orangina throughout France. For its part, Coke had gone to great lengths to
immunize the deal from antitrust issues, even to the point of signing an accord
guaranteeing Orangina workers both their jobs and a rather continental 35hour workweek. However, with a 50% share of the French soft drink market,
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Cokes position was dubious, especially given the tough antitrust climate that
characterizes Europe these days.
Coke has also faced antitrust challenges in South America. For example, the
company scored a victory in Venezuela when it managed to woo the countrys
largest bottler away from Pepsi in 1996. In December of the same year,
however, Venezuelan authorities slapped Coke with a $2 million fine for
violating laws that prohibit concentrations restrictive to free competition.
Other suits include a 1998 antitrust investigation in Italy and a 2000 suit
against bottling and distribution operations in Mexico. The Mexican courts
resolved the case in August 2002 with restrictions but no fines.
Bottling and consolidation

The Coca-Cola Company is increasingly a vertically integrated organization.
In 1986 Coke bought two large ownership groups that owned bottling
operations, and combined them with its own bottlers to create Coca-Cola
Enterprises (CCE), a separate, publicly traded company, in which the CocaCola Company retains about 45 percent ownership. CCE has furthered
Cokes consolidation through a string of acquisitions in October 1998, CCE
announced letters of intent to acquire six U.S. bottlers for $770 million. The
$5 billion spending plan, however, has meant taking on considerable debt, a
fact that alarmed investors, especially since no increased positive cash flow
was projected until 1999. CCE responded by taking on more debt to
repurchase millions of shares. One consultant told The New York Times: To
me, thats not the way to use shareholder capital, and its capital they dont
have, because they had to borrow to do it, though another analyst opined to
the Times that the repurchase was fabulous.
Abroad, Coke has also been restructuring its global bottling system by
consolidating hundreds of small bottlers into a group of anchor bottlers,
well-capitalized companies that work closely with Coca-Cola. For example,
following the fall of the Iron Curtain in 1989, Coke quickly set up operations
in eastern Germany. As business improved, Coke merged its eastern German
bottlers with three other bottlers in southwest Germany to form an anchor.
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Major Products & Services

Coca-Cola: The worlds most valuable brand (estimated value of about
$69.6 billion in 2002) is also far-and-away the worlds best selling soft drink.
Diet Coke/Coke Light: The worlds third best-selling soft drink, behind
Coca-Cola and Pepsi-Cola. Introduced in 1982, Diet Coke captured almost
10 percent of the U.S. soft drink market within a few years. The product is
known as Coke Light in many markets abroad.
Fanta:
States.
The companys second largest-selling brand outside the United
Sprite: Introduced in 1961, Sprite has overtaken Cadbury Schweppes 7-Up

as the worlds most popular lemon-lime soft drink. In the United States,
Sprite sales grew by 13% in 1997. Industry analysts attributed the drinks
success to high-profile youth-targeted ads that groom the soft drink as a
cutting-edge yet quirky beverage. Sales of Sprite have leveled off, with 668.1
million cases sold in 2001, a 1.5% gain over 2000.
Minute Maid juices: The majority of Cokes juices are sold in the U.S. and
Canada. The brand is the worlds leader in juice and juice drinks.
Barqs Root Beer: Barqs was founded by New Orleanian Edward Barq in
1898. After decades of producing root beer to accompany crawfish and fried
oyster po-boys for the good citizens of New Orleans, Barqs Inc. was
acquired in 1994 by Coke. Distribution skyrocketed from 8,000 outlets to
100,000 outlets, and Barqs is now the best selling root beer in the country.
POWERaDE: Introduced by Coke in 1990 to enter the growing sports drink
category, POWERaDE is now offered in 20 markets worldwide.
Fruitopia: Cokes belated response to the sudden ascendance of Snapple.
Another one of those mega-corporate products dressed up to look
homegrown, the drink was introduced in March 1994. Because of Cokes
money and muscle (Fruitopia stands in movie theaters, widespread Fruitopia
vending machines, etc.), Fruitopia has been a moderate success. Coke has
gradually upped its ante on this product, increasing its marketing budget each
year, from $10.2 million in 1995 to $12 million in 1996 to an estimated $15
to $20 million in 1997.

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Compensation
Pay
Assistant Brand Manager, Financial Analyst: $60,000 to $70,000 with a
$10,000 to $15,000 bonus and 10 percent year-end bonus
Although pay at Coke isnt as high as at other top-of-the-line consumer goods
companies such as P&G and General Mills, MBAs are eligible for stock
options and a bonus upon their first promotion, which, insiders say, usually
happens in a year or two (some high-flying MBAs get options immediately).
With the great performance of KO stock, one recent MBA hire notes sagely,
the options are a very lucrative way to garner personal wealth.
Perks
Discounted lunches
Company credit union
Health club on campus
Stock purchase plans
Drink pop till you drop
Special tickets at most concerts
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Organization
The Coca-Cola Company is divided into four main soft drink business
sectors: Americas; Asia; Europe, Eurasia and Middle East; and Coca-Cola
Ventures. Coca-Cola Ventures, which includes the Minute Maid Company,
manages the companys non-carbonated beverage business, arranges strategic
partnerships and identifies new opportunities for the corporation. The
company also maintains the Africa Group, a separate unit devoted to that
region.
CEOs Bio
Coke Head: Douglas N. Daft
The election of Douglas Daft as CEO broke the companys chain of
inheritance; Robert Woodruff groomed the late Roberto Goizueta to replace
him, and Goizueta in turn made M. Douglas Ivester his protg. Aggressive
competitor Ivester apparently hoped to insert Jack Stahl as CEO and his
successor, but the position went to cheerful Daft. Stahl resigned as president
shortly thereafter when Daft announced a corporate reorganization.
Daft, the eleventh CEO of Coca-Cola, rose through the corporate ranks,
joining the company in 1969 as a planning officer in his native Sydney,
Australia. He entered the executive ranks in 1984 as president of Cokes
Central Pacific Division and held several regional executive positions
covering the Middle and Far East. He became President and Chief Operating
Officer of the Coca-Cola Company in 1999. He replaced M. Douglas Ivester
as CEO in February 2000; 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. Among his efforts are a series
of changes in key executive positions, a shift to a less centralized structure
and a layoff of 20 percent of Cokes workforce. He has also formed a number
of partnerships with such food giants as Procter & Gamble (for juice drinks)
and Nestl (for tea and coffee), expanding the companys line to more than
300 brands in some 200 countries.
The product expansion is not immediately apparent to consumers in any one
market (worldwide rollouts of Diet Coke with Lemon and Vanilla Coke in
2002 notwithstanding), because Daft has seen to it that Coke products are
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Organization
regional. 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.
Daft, 58, holds a BS in mathematics from the University of New England and
earned his MBA from the University of New South Wales. He serves on the
boards of 11 different companies and foundations, including SunTrust Banks
and the Boys & Girls Clubs of America; conspiracy theorists will be
interested to know that he is also a member of the Trilateral Commission.
Locations
Atlanta, GA (world headquarters)
Houston, TX (headquarters of the Minute Maid Company)
Facilities in all 50 states and worldwide
Key Officers
CEO & Chairman: Douglas N. Daft
Chief Marketing Officer: Stephen C. Jones
President, Americas Group: Jeffrey T. Dunn
President, Africa Group: Alexander B. Cummings Jr.
President, Asia Group: Mary E. Minnick
President, Europe, Eurasia and Middle East Group: A. R. C. Sandy Allan
President, Coca-Cola Ventures: Steven J. Heyer
CFO: Gary P. Fayard
General Counsel: Deval L. Patrick
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Ownership
The Coca-Cola Company is publicly traded on the New York Stock
Exchange. Its ticker symbol is KO.
Warren Buffetts Berkshire Hathaway is the companys largest shareholder,
with 8 percent of the stock. One share of KO stock purchased in 1919 for $40
would have been worth more than $216,000 by 2001.
Subsidiaries/Major Divisions
Minute Maid Company: Acquired by Coca-Cola in 1960. Formerly CocaCola Foods, this division was renamed The Minute Maid Company in 1996
to better reflect its standing as the worlds leading brand of juice and juice
drinks. This division took major steps toward international expansion in
1996, forming an alliance with European food conglomerate Groupe Danone
to focus on consumers in Europe and Latin America, and forming another
partnership with Brazils Sucocitrico Cutrale Ltda.
Coca-Cola Enterprises: This company is a separate entity from Coca-Cola,
though it is 44 percent owned by Coke. It was formed in 1986, when Coke
bought its two largest bottling concerns, made them a corporation, and took
them public. CCE had net operating revenues of $15.7 billion in 2001.
Several of the key managers of the Coca-Cola Company sit on CCEs board.
The company controls about 80 percent of the Coke bottling in the U.S., and
also bottles in Great Britain, France, the Netherlands, and Belgium.
Coca-Cola Amatil: Like Coca-Cola Enterprises, only based in Australia. In
1998, Coca-Cola Amatil spun off its European business, which became CocaCola Beverages Ltd.
Coca-Cola currently controls close to 44 percent of the nearly $62 billion
North American carbonated beverages market, and constantly seeks to gain a
full 50 percent. Although Cokes national market share is up from 41 percent
in 1990, most consider the domestic goal a reach. Where Coke is really king
is outside the U.S.: 76 percent of Cokes profit comes from outside North
America. The company controls a 48 percent market share of the
international soft drink market; Pepsi can claim only 17 percent. With its
Minute Maid brands leading the way, Coca-Cola is also the worlds largest
distributor of juice drinks.

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Organization
Key Competitors
Pepsi-Cola Company: Coca-Colas chief competitor, with nearly 32 percent
of the national market. In terms of revenues, Pepsis $26.9 billion in sales in
2001 in fact topped Coca-Colas $20 billion. However, half of Pepsis total
sales come from Frito-Lay, the leading producer of corn and potato chips such
as Lays and Doritos. Pepsi also has a joint venture with Lipton. In contrast
to Cokes primarily international distribution, Pepsi generates 70 percent of
its revenue in the U.S. In October 1998, 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.
Quaker Oats Company: Quaker makes Gatorade sports drinks, which
compete with Cokes POWERaDE (Notice the name similarity?). Quaker
(perhaps better known for its oatmeal and Aunt Jemima products) recently
tried to move more strongly into the beverage industry by buying Snapple for
$1.7 billion in 1995. But the move turned out to be a fiasco Quaker took a
reported $1.4 billion loss when it sold Snapple to Triarc Companies in 1997.
Triarc Companies: This New York-based company has subsidiaries ranging
from restaurants (Arbys) to propane distribution. It produces RC Cola, a
small competitor of Pepsi and Coke. More importantly, it took Snapple off
of the Quaker Oats Companys hands for a rock bottom $300 million in 1997.
Sales for the group in 1997 were $794.8 million. The story has changed for
Triarc since that transaction, though: the group sold Snapple to Cadbury
Schweppes in late 2000, and Triarcs sales totaled just $92.3 million in 2001.
Triarc officials have also joined Pepsi in getting more aggressive about
challenging Coca-Colas allegedly anti-competitive behavior.
Cadbury Schweppes: In 2001 U.K.-based Cadbury Schweppes global
beverage business brought in $3.4 billion in 2001,or 40 percent of its total
revenues. The group, producer of Schweppes and Canada Dry mixers,
acquired a partial interest in Dr. Pepper/7-Up in 1986, and in 1995 bought the
rest of the company, thereby acquiring Sunkist, A&W Root Beer and Dr.
Pepper. While Dr. Pepper has been a strong performer, 7-Up has faltered
lately, slipping from the nations fourth most popular drink to the eighth
much to the chagrin of Cadbury.
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October 2002: Pepsi thinks inside the box
Coca-Cola files a civil suit against PepsiCo, alleging that Pepsi infringed on
Cokes patented technology for more efficiently mixing fountain drinks. The
bag-in-box method, developed by Coke, reduces syrup waste and the need for
operator attention.
June 2002: Negotiating for water rights

Coca-Cola acquires 51% equity in French water merchant Danone, producer
of Dannon and Sparkletts brand bottled water. Danones water cooler
delivery service and Evian brand were not part of the arrangement, nor was
Cokes Dasani brand involved.
May 2002: 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.
January 2002: Branching out

Coca-Cola Nestl Refreshments, a joint venture between the two companies,
becomes an independent entity answerable to a joint committee. The new
company, Beverage Partners Worldwide, will continue to produce and market
ready-to-drink tea, coffee and herbal beverages.
December 2001: Coke acquires and kills

Odwalla
Beverage producer Odwalla becomes part of the Coca-Cola family when
Coke purchases more than 95% of the companys outstanding stock in a cash
tender offer. The companys beverages are no longer sold.
May 2001: Coke gets Mad

The Coca-Cola Company acquires Greenwich, Conn.-based drink maker Mad
River Traders. Mad River primarily produces teas, juices and carbonated
beverages aimed at U.S. consumers leading active lifestyles.

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Vault Newswire
November 2000: Coke settles discrimination

suit
Coca-Cola agrees to pay $192.5 million to settle a 1999 racial discrimination
suit by black workers.
The settlement includes $113 million in cash, $43.5 million in salary
adjustments and $36 million to establish an oversight program. The company
also agreed to pay $20 million in attorneys fees and will donate $50 million
to its own community program foundation.
March 2000: Coke trims operations

The company announces numerous organizational changes, including several
executive position changes and a 20% workforce layoff. Jack Stahl, once
expected to succeed former CEO Ivester, resigns.
March 2000: Less Coke in our schools

Coke scales back its aggressive marketing campaigns in schools. The new
program calls for non-exclusive sales agreements, non-commercial signage
on vending machines, a broader array of beverages including juice-based and
water drinks, closer compliance with school administrators guidelines and
other factors.
February 2000: New head for Big Red

Douglas N. Daft becomes chairman and CEO of The Coca-Cola Company,
replacing M. Douglas Ivester. Daft begins to institute a number of changes to
the management and operational structure of the company.
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Our Survey Says

Coke nation
At The Coca-Cola Company, employees are fervently attached to their
employer. Everyone is very loyal to the company, one employee says.
They are very proud of all of the accomplishments achieved there. It is a
wonderful company, says another insider, a 15-year Coke veteran. There is
a certain amount of pride many of us take knowing that we have helped get
us to this point. Indeed, Coke is the very lifeblood of the company, and its
employees shun the sainted liquid at their peril. Says one former financial
auditor who describes the companys culture as quite strong: people here are
expected to drink Coke.
But its not just a matter of red-and-white pom-poms and megaphones at
Coke. The intense loyalty meshes with what is invariably described as a
conservative atmosphere, an ambience linked to the sheer size of the
company. Coke has a very corporate, conservative culture, says one
insider. People are very nice here, but its definitely a reserved atmosphere.
The companys culture is aggressive but can seem slow if you dont see the
big picture steering a tanker is not like steering a 20-foot sailboat, reports
one insider. Coke is a large company and has a large company corporate
culture. The company is very proud of its heritage and integrity, and is
conservative by nature, another says. This mix of rah-rah cheerleading
and stuffy reserve leads to somewhat cryptic comments from insiders like:
Coke people tend to be professional in dress and nature, and tend toward the
conservative in behavior. This is not to say enthusiasm is not appreciated. In
many cases, it is required.
The mother ship

There is very tight security before you even get into the area, and it
continues throughout the complex, says one insider of the corporate
headquarters. 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. The
complex basically has all you need right here, says one insider, Theres a
cafeteria, a gift shop, a travel agency, and a medical services office all in the
complex. People dont tend to leave to go out to lunch because the cafeteria
here is so big and inexpensive. The headquarters of Coca-Cola, located in
downtown Atlanta, also houses a credit union office, a bank, a health club, a
dry cleaning service, a gift shop, and its very own branch of the U.S. Post
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Office. The place is beautiful, says one insider, The first time I visited, I
knew I had to work here. The buildings are very well maintained and very
clean. They changed the carpet in the main lobby area about five times while
I was there, says a former employee who worked downtown for less than
two years. About 6,000 to 7,000 employees work downtown.
Of the attractions at headquarters, the cafeteria seems to hold a special place
in employees hearts. I have been told by consultants and contractors who
have worked all over Atlanta that the cafeteria here is the best by far, says
one. The cafeteria is the best I have ever eaten at, food and prices, says
another insider. Since drinks are free, you can eat lunch there every day
under $3.00. And for that you get an entre, two vegetables, and dessert.
Theres also the HealthWorks POWERaDE Athletic Club. The company
actually has a Health Management Department staffed with Health and
Fitness Specialists whose job it is to reduce health care costs and encourage
healthy habits in the company. The company subsidizes all of the services at
Coca-Colas home campus.
KO OK
The Coca-Cola Company likes to say that Coca-Cola is the second-best
known expression in the world, next to OK. No wonder The Coca-Cola
Company stands out on a resume. Add in the ubiquity of the product and the
outstanding performance of KO stock in the last few decades, and youve
got a recipe for super-high prestige especially in finance and marketing.
The companys reputation got me into a great business school, says one
former employee. I can tell you that Coca-Cola is the best corporation in
America to work for, says one insider. Coke has a great reputation
everywhere in almost every area they are in. There is quality in everything
they do, and they work very hard at maintaining that quality, says another.
Pay is good
Insiders say compensation at Big Red is good, but not stellar. The pay is in
line with that of other blue chips which means significantly higher than
small companies with a special difference that people get stock options at
Coca-Cola at much lower levels than in most other blue chips, one R&D
employee says. Coke also offers bonuses for more senior employees. Terms
used by insiders to describe the pay scale at Coca-Cola include competitive,
generous, and varies a great deal, depending on your education and
experience.
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...but the benefits are great

Insiders describe Cokes benefits package in glowing terms; one of the most
comprehensive around, the best around, excellent, and wonderful are
among the comments Vault heard. Besides the benefits of the corporate
campus, employees have the option to finance their car with the help of the
company, have several healthcare plans to choose from, have a tuition
reimbursement a stock-purchase, and enjoy a 401(k) plan that has made many
a Coke employees retirement a golden one. There are also days off at Six
Flags Atlanta, free ice-skating, Thanksgiving Dinner, and available
concert tickets in the Coca-Cola section the front at almost any major
venue in the country. And of course, there is the all-you-can-drink aspect
of working at Coke, reportedly distributed through coolers, fountains, and
vending machines rigged so all you have to do is push the button and the
Coke comes out. You never need pay for a soft drink again between 9 a.m.
and 5 p.m, says one employee. You can OD on the free Cokes, Sprites, and
Frescas.
Perhaps the best perk at Coke is the stock options. Says one employee: In
the long run, total compensation is probably higher than it is elsewhere, but
you need to be patient options can have long vesting periods, and bonus
only comes in at a given threshold that entry-level employees are unlikely to
obtain to very soon. One finance MBA is less reserved: They start out
small and they fool you. I think people fail to realize how potentially
lucrative this place is. By the time youre 55, youre sitting on $10 million,
and its growing exponentially. There are secretaries floating around here
who are millionaires. Another exuberant insider adds: Theres no place like
it, save investment banks. People talk about Microsoft and the stock options.
But thats nothing compared to Coke.
And we work to earn it

Workdays vary from department to department but are generally on the long
side, although not nearly as long as consulting or investment-banking hours.
People tend to arrive early and work late, says one insider at corporate
headquarters. Some employees have flexible hours, but others are 9 to 5
with a 30 minute lunch. Flex-time is at the discretion of your immediate
supervisor. For those on the upward track, expect long days: The reality is
that I dont know many people working less than 9 to 10 hours a day, says
one employee. Hours can vary from a 40-hour work week to a 60 or 70 hour
week, which many of us seem to be working on a regular basis, another says.
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Standard workweek at corporate is 37.5 hours officially. Unofficially its

usually 45 to 50 a week. More if you really want to climb, reports an Atlanta
headquarters employee. However, one recent MBA hire tells Vault: People
here are not so unreasonable as to not understand the need for a life. I never
work weekends.
Button up, Johnny!

Although dress varies a bit from department to department, Coke is generally
described as having a formal dress code. Marketing and some of your
more hip divisions will sometimes have casual Fridays, but the Executive and
Technical Engineering divisions have strict suit-and-tie-only dress codes,
says one insider. People are expected to wear suits or business attire every
day, says an employee at corporate headquarters. Most men wear dark suits,
women are expected to wear skirt suits, says another. One employee even
reports that there had been casual days in the past, but no longer. As one
Coke insider sums up: The dress code here is business attire. No casual
days, as we are a professional organization that must always look that way.
Casual day is not in the corporate dictionary.
Image is everything
Despite Cokes anti-authoritarian, ultra-successful Image is nothing, Thirst
is everything, Obey your thirst, ad campaign for Sprite, Coke is a company
that employees describe as extremely strict and image-conscious, as
exemplified by the tight security at their corporate headquarters and formal
dress code. It is an appearance is everything place to work, says one
insider. There are certain ways of doing things that most people are
expected to adhere to, says another. Since visitors from all over the world
are there almost all the time, Coke employees are always very conscious of
how they present themselves, reports a former computer contractor. That
is not to say they are worried about it and show that worry, but in a subtle way
they do understand that the face they show is the face of Coke.
Coke United Nations

Coke is not known for its outstanding record on diversity efforts, but if
employees in Atlanta are to be believed, corporate headquarters is teaching
the world to sing in perfect harmony. One of the things I especially liked
was the many languages you could hear spoken in the cafeteria and hallways
of the corporate offices. It is truly an international company, says one
insider. Coke hires people of all different races, religions, and cultures. It
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is a very diverse company, says another. Going to lunch sometimes gives

me the feel of what the cafeteria at the United Nations must be like, adds
another insider. And one satisfied employee volunteers: I work in a very
diverse and comfortable environment where everyones points of view and
opinions are important. Insiders point out that Cokes revered former CEO,
Roberto Goizueta, was a Cuban immigrant, with what one employee
describes as a very heavy accent.
Mums the word

Employees tend to be less effusive when discussing the status of women at
headquarters. Although no one mentions any special programs or hardhitting recruiting efforts, female employees tell Vault they are treated fairly,
with good opportunities for advancement. There are many women in
management, says one former employee. People are treated based on how
they perform rather than on their sex or race. Adds one senior manager, My
director is female, leading a 600-person group, and five of my peers are
female, four are male. In addition, two women sit on Cokes 14-member
board.
Hard to get in, even harder to get up

As one would expect, it can be hard to crack the Coca-Cola nut. In all
departments across the board, employment is extremely competitive and jobs
are very hard to secure, says one employee. They are a very hard company
to get on board with, and the benefits and pay show it, says another. Entry
level positions are pretty rare in the Coca-Cola Company, one employee
reports. Most associates, other than administrative and support staff, have
advanced degrees and several years of business experience before being
considered for positions here. Says one insider: The depth of talent around
here is awe-inspiring.
But insiders say that getting hired is actually the easiest part if you plan to rise
to the frothy top of the firm. Coke seems to hire the best, and it is against
the best that you will compete for promotion and opportunities, says one
insider. One downer about Coke is that everyone here is so good it really
takes a lot to stand out, says another. 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 really enjoyed working at Coke but found that I was stifled from an overall
career path. I was looking for more of an opportunity to work harder and
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climb faster, says one former employee. There werent a great deal of
advancement opportunities, offers another former Coke staffer, adding: I
felt trapped; there were a lot of lateral moves, but no vertical ones. And from
a former finance employee: Its easier to be hired by Coke than to be
promoted. They tend to hire lots of senior people from outside instead of
hiring from within.
Moreover, many insiders say that advancement at Coke, more so than other
large companies, depends a lot on who you know. Coke is a very political
place, says one former employee. You will do well if you know the right
people and make the right contacts and suck up to the right people. One of
the reasons I am not there now is that I would not suck up to certain people.
A Coke business development insider sums it up: This is a club. It is an
exclusive club. And youve got to know somebody not only to get in, but to
move up.
Coke nation, not Coke family

Coke workers give generally positive, albeit somewhat lukewarm,
descriptions of how higher-ups treat the hoi polloi. They tend to treat their
employees well, says one insider. Another agrees People are generally
treated well. As far as socializing among colleagues of the same level, its
pretty good, reports one recent MBA hire. However, we do most of it on
our own, say insiders. The company doesnt lend a guiding parental hand.
Highly satisfied
Overall, most Coke employees tell Vault they are extremely satisfied with
their careers at Coca-Cola. I have worked here almost seven years and I
enjoy it very much, says one representative insider. Another adds: I have
worked at Coca-Cola for about 25 yearsObviously I have mostly good
things to say about the company or I wouldnt have worked here for all these
years. I have worked for the Coca-Cola company for two years and have
been pleased with my experience, says yet another. And finally: I have
been with The Coca-Cola Company since 1982, and it is a wonderful
company. Yes, Coke has a lot of long-term employees.
Much of the reason for the high company satisfaction is that employees have
grown fat on KO stock and because they feel theyve helped make the
company one of the strongest in the world. I dont only like working here,
I am also very proud of being part of such a great company, says one
engineering development employee. Its enough to make some Coke
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employees get all sentimental, even sappy: It has been a rewarding,

educational, and fulfilling experience, says one. I could go on and tell you
100 more times that Coke is a great company to work for I truly believe
Coke wants good things to happen to its employees.

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Getting Hired
Hiring Process
Coca-Colas hiring varies by department (finance vs. marketing) and also
division. 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. Coca-Cola recruits in every possible way, depending on the timing,
the department and the school: on campus, write-ins, headhunters, etc.,
reports one insider.
Each department has different core schools at which they recruit. Heres a
breakdown of the Marketing and Finance departments:
For Brand Management, Coca-Cola hires from seven core business
schools: Harvard, Kellogg, Fuqua, Clark-Atlanta, Emory, the University of
Michigan, and Wharton. Recruiters estimate they look at about 1,000
applicants overall for this department, 300 of whom go through the recruiting
process. For the Marketing Program Development internship, the company
recruits from Andersen, Fuqua and Kellogg.
For the finance department, Coke recruits from five schools: Emory, Kellogg,
the Thunderbird Campus of the American Graduate School of International
Management in Arizona, USC, and Wharton. Coke screens about 200
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. If youre dead set on working for the company
and you might be, considering the potential payoff one option is to start
with a company such as Ernst & Young (which does external auditing for
Coke) or King & Spalding (Cokes outside legal counsel).
For those going into engineering, Coke is looking for either bachelors or
masters candidates in mechanical or electrical engineering (although a few
hires have backgrounds in industrial engineering). Masters and PhD-level
candidates are also hired into what the company dubs its science positions,
which include product testing and research and development.
For its brand and finance positions, Coca-Cola looks for MBAs who already
have several years of experience. An applicants experience level helps
determine in what position he or she starts. For example, an employee

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entering the finance department with two to three years experience will join
Coke as a senior financial analyst, and one with four to five years will join at
the next step up, as a principal financial analyst.
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, 404-515-8221.
Send to Attn: RESUMIX.
The phone number for global staffing is: 404-676-5678
Cover letters and resumes can also be sent via conventional mail to:
P.O. Drawer 1734
Atlanta, GA 30301
Attn: USA 635
Preparing for the Interview

Some basic tips on interviewing with Coke:
First, the proper company name is The Coca-Cola Company.
important that you use it properly, says one employee.
It is
Second, because T.C.C.C. (as it is sometimes called) places a great deal of

emphasis on loyalty, it is important that you sell your enthusiasm for the
company. You must convey to your interviewer that you are genuinely
interested in working at Coke, and that nothing else matters at that time,
says one employee. To illustrate the point, we include the following story,
as recounted to The New York Times by Warren Buffett. 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. I mentioned it to
Atlanta, Buffett says, and World War III broke out. Theyre now serving
Coke.
Finally, subtly dropping a concern for shareholder value wont hurt.
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). A nineties buzzword, EVA refers to
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annual operating profit minus a special charge for the cost of capital. The
concept is designed to do away with misleading accounting profits based
on equity capital and other measures of financial health that Fortune
characterized as playing volleyball with the net down. Roberto Goizueta
was a firm believer in EVA, and the concept pervades the companys
financial approach.
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. The
process is relatively intense, but not as bad as some other companies, reports
one employee.
Questions to Expect
1. Why do you want to work for The Coca-Cola Company?
This is the bottom line, Exhibit A, the heart of the matter, and whatever other
clich you can think of. We want to know for certain why the individual is
jazzed about our company and industry, stresses a recent hire.
2. What would the other members of your business school team have to
say about you?
Youre dedicated, efficient and smart.
3. GMAT question:
Insiders report that Coca-Cola will occasionally throw out questions similar
to GMAT questions to test analytical ability. Usually nothing as intense as
brainteasers or guesstimates at I-banking or high-tech interviews, just fairly
simple questions to make sure youre not a dullard. Dont be surprised by
this, and dont get all flustered: if you get one of these, it wont be all that
difficult.
4. 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 18-35 demographic
group in the U.S., what kinds of strategy would you propose?
For marketing employees, a recent marketing hire says, Coke will give a
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5. 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.
6. How would you feel about work overseas or elsewhere in the U.S.
outside of Atlanta?
Although Coca-Cola doesnt require international mobility, for its
management-track positions, it wants employees who put their professional
commitment and employer first. Be prepared to convince your interviewer of
this with any examples that show such dedication to your professional life.
Says one recruiter of MBAs: We look for global mobility, people who are
willing to travel both internationally and within the U.S.
7. Where do you see yourself in 10 years?
A typical interview question that holds special weight at Coke. Says one
insider: The biggest thing is theyre looking for long-term thinkers. They
dont want cowboys. They want conservative people who are into adding
shareholder value.
Questions to Ask
If you do background reading on Coke before an interview, dont be afraid to
show it. Because the company places such a premium on loyalty and
turnover is low, interviewers are generally longtime company men and
women. Says one recent MBA hire: You can talk about (Coke) war stories.
That says, Hey, Im buying into the specialness of the company.
1. 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?
2. Id like to hear about your career path. How did you get here, and
where do see yourself next?
Remember the words of our contact: Its easier to be hired by Coke than to
be promoted. They tend to hire lots of senior people from outside instead of
hiring from within. It would probably be a good idea to explore this issue,
carefully.
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3. 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?
4. I know that The Coca-Cola Company stuck by Mexico when it was
down in 1994, and that really paid off. Why exactly did that strategy
work, and can the company do it on a broad scale in todays unsettled
world economy?
This might be a good way to show your sensitivity to the companys
worldwide situation and get a sense of how Coke plans to weather the storm.
You can also boost your interviewers egos when they get to tell you that
T.C.C.C. is not afraid of the sky falling in emerging markets.
5. I noticed that the African market comprises a very small portion of
The Coca-Cola Companys revenues, although the companys market
share in the region is high. (Look at company charts; Cokes market
share in Africa is about 80 percent) What does the company foresee in
terms of growth in that region, and as the market grows, how does it plan
to keep its high market share as competitors decide the market is
potentially lucrative?
6. As Ive looked into the Coca-Cola Company, Ive noticed that the
trend in bottling seems to be toward consolidation. Do you think this is
healthy development for the company?
7. Do you believe Cokes intended introduction of bottled water is a good
idea? Will it cut into sales of other Coke products?
Show that you stay current with latest developments at Coke.

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On the Job
Job Descriptions
Assistant Brand Manager
The entry-level position for prospective marketing bigwigs involves:
Broad business analyses for a brand
Developing consumer promotions, packaging, and market research plans
Serving as a company liaison between related marketing groups such as
promotions and outside advertising agencies
Communicating brand strategy to bottlers and retail customers
Those thinking about pursuing a marketing career at Coke should remember
that T.C.C.C. is a big company with relatively few brands. Says one recent
marketing MBA hire, Theyre not going to take an MBA and say, Okay,
youre in charge of Sprite.
Financial Analyst
Entry-level MBAs often start out in the finance function as either senior
financial analysts or principal financial analyst. Their responsibilities include:
Providing budget analysis for departments such as brand management or
manufacturing
Identifying cost-cutting possibilities and inefficiencies
Internal Auditor
Another foot-in-the-door for finance MBAs. Says one recent hire, They
need internal auditors like theres no tomorrow. Former CEO Doug Ivester
started as an auditor. Auditors travel 100 percent of the time, all over the
world, report insiders, visiting different Coke locations making sure that the
appropriate financial controls are in check and are being used properly.
Business Development Analyst

Insiders tell us that the cream of the finance MBA crop goes into this division,
which is described as an internal M&A group. The group spends most of
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its time figuring out what bottlers to buy in order to consolidate into the
anchor bottling concerns Coke has set up. 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.
Summer Internship
Internships for MBAs are offered primarily in marketing, with a few in
finance. Within marketing, there are internships in:
Brand management: This is a feeder program, with usually about 10 of the
10 to 12 interns receiving offers for full-time positions as assistant brand
managers.
Marketing research: Coke actually recruits these interns from programs that
offer masters degrees in market research (U-Wisconsin-Madison,
University of Texas Austin, and the University of Georgia). The four
interns in this sub-department get full-time offers.
Marketing program development: These positions involve getting plans
that Brand people map out up and running. The positions are more
operations-oriented than strategic. About four interns are hired a year; they
do not get offers to return.
Presence and media marketing development (several interns, depending on
budgets, who generally dont get full-time offers). This marketing division
concentrates on sports and other big-exposure events, such as all those
Hollywood awards shows.
Says one former marketing intern: It was an excellent summer experience
where I was given full responsibility for the completion of a market research
project I maintained close contact with middle management throughout the
project. It was a well-structured experience that exceeded my initial
expectations. In finance, about five internships have been offered each year,
but this is not a formal program, according to a recruiter, and is not used as a
feeder into full-time positions.
32
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2002 Vault Inc.

On the Job
Day in the Life

Assistant Brand Manager
8:00 a.m.: Arrive at Cokes midtown offices near downtown Atlanta after a
short commute (Theres a parking garage with plenty of parking, and
traffics not bad.)
8:15 a.m.: Check e-mail and voicemail. Respond.
9:00 a.m.: Read through a report about a packaging design from the
consumer research department that you received last night. (Were always
trying to track marketing investment. Obviously if you advertise more, you
sell more, but were constantly trying to measure if the money invested in
marketing is worth it.)
10:30 a.m.: You decide you want more data about a particular demographic
groups response to a packaging design; e-mail the consumer research
department. (I do a lot of overseeing consumer research.)
11:00 a.m.: Call consumer promotions department to talk about a bottle-cap
promotion you are trying. (Its not all face-to-the-computer time. A lot of it
is looking around the company to see who has expertise in certain areas, and
building energy around your ideas.)
12:00 a.m.: On the phone with the legal department to set up a meeting to go
over the ins and outs of the bottle-cap promotion.
12:30 p.m.: Off to the cafeteria for lunch. (The cafeteria is the best I have
ever eaten at, food and prices.)
1:00 p.m.: Meeting with associate brand manager and other assistant brand
managers to discuss strategy for an upcoming ad campaign.
3:00 p.m.: Back at your desk. 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.
3:30 p.m.: Back to the report on packaging design, begin writing a report that
you will eventually present to your brand manager and associate brand
manager.
6:00 p.m.: Go home.

CAREER
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33

On the Job
Senior Financial Analyst

7:30 a.m.: Go work out at health club.
8:30 a.m.: Breakfast at the company cafeteria.
9:00 a.m.: Check voicemail and e-mail. (As a financial analyst you dont
talk to people outside the company, you maybe talk to assistant brand
managers, or an advertising group to get costs.)
9:30 a.m.: Begin performing trend analysis on mid-month results of a brand.
10:00 a.m.: Meet with finance manager to review brand budgets
12:00 p.m.: Lunch in the company cafeteria. (Its like a food court in a
mall.)
1:00 p.m.: Meet with brand managers to discuss new promotional activity.
1:45 p.m.: Check voicemail and e-mail again.
2:00 p.m.: Go back to trend analysis on mid-month results. Develop forecast
for the rest of the month.
4:30 p.m.: Review presentations on next years budget for a brand. (You
make your presentations to the directors.)
5:30 p.m.: Go home. (You hop in your BMW and head home.)
Departments
Consumer Promotions
Narrower in its marketing scope than Brand, with less emphasis on overall
marketing strategy. The consumer promotions department works on projects
such as bottle cap contests and tie-ins with sports or concert events.
Consumer Research
The people who tell the Brand people what consumers are thinking, the
Consumer Research Department conducts surveys (both written and test
marketing), and analyzes these results by every conceivable demographic
group.
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On the Job
Field Sales
This department is responsible for getting Coke products onto supermarket
shelves, and ensuring that the companys products are displayed as the
company believes is most effective.
Finance/Accounting
Other than Marketing, the most likely department to employ managementtrack employees and graduates of top schools. The department analyzes the
effects of business decisions and helps plan the companys strategy for
financial growth. Former CEO M. Douglas Ivester started in this department,
as an auditor. About two-thirds of the MBA class that joins the finance
department begin as either senior financial analysts or principal financial
analysts.
Information Systems
The support staff that makes sure the computers dont crash. At Coke,
however, this department does more upgrading than mere maintenance. Coke
is always actively upgrading computer equipment, says one former
contractor, who estimated his group installed 5,000 new computers in about
two years. Coke spends a lot of money on things to make the business run
smoother, and they are very heavily into technology.
Human Resources
The department that designs and implements employee programs for Cokes
26,000 worldwide employees (about 6,000 to 7,000 in downtown Atlanta).
Aside from those tasty benefit and stock option plans, the department helps
coordinate Cokes training programs.
Marketing
Although Coke is a marketing-heavy company, Coke does not have brand
management in the traditional sense of a training ground that funnels into
general management positions. There is brand management in the Coca-Cola
Corporate bottle/can division. Brand teams, comprised of assistant brand
managers, an associate brand manager, a brand manager, and during the
summer, a brand intern, oversee all facets of a brands operation, from
package design to pricing to consumer promotions.

CAREER
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35

On the Job
Marketers carry titles like trade channel manager and assistant trade channel
manager. Customer account managers and assistant customer account
managers deal with large company accounts; and presence and media
marketing personnel handle advertising at large sporting and entertainment
events.
Public Relations
At image-hyperconscious Coke, spinmeisters are an integral part of Cokes
operations. This department works to put the companys best foot forward for
the media, investors, and the general public.
Technical/Research and Development

Composed of scientists and engineers, R&D works on new product
development and improvements and package design (an area of particular
pride at Coke, which proudly flaunts its contoured Coke bottle, and now the
dimple Sprite package).
Career Path
For undergraduates
Undergrads, are hired primarily as engineers, although Coke reportedly is
planning to try out a new recruiting program for their sales department in
1998. About 45 engineering undergrad and masters candidates take part in
six-month internships that go from either June to December or January to
June. These interns are placed in Atlanta with Coca-Cola Corporate; a small
percentage receives full-time offers (a company recruiter estimates between
10 to 25 percent historically), although Coke says it is trying to change this,
in order to bring in a higher percentage of its interns into the company.
Engineers are recruited from about 10 technical schools in the U.S. and
overseas.
In finance and marketing, undergrads have very few opportunities. If you
were an undergraduate and had any ambition at all, youd leave. Its shit
work, says a former financial analyst. Says one employee in the business
development group: They have no chance.
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2002 Vault Inc.

On the Job
For MBAs
In brand management, the career path goes from assistant brand manager to
associate brand manager to brand manager to marketing director.
Promotions happen typically every two to three years. In finance, it goes
from senior financial analyst to principal financial analyst (some MBAs start
here) to financial services manager, which involves oversight of processes
and perhaps other employees, to finance manager, and then to the director
level. For those in the business development group, it goes from business
development analyst to business development manager to regional finance
manager to finance manager of a division. One can alternately start in finance
as an auditor or as an accountant, a position which a company recruiter says
involves some financial analysis.
Insiders, however, say that there is no set career path. MBAs with their
eyes on general management will eventually need to get experience in finance
and operations, counsels one marketing employee. There is something of a
tradition at Coke of higher-ups scouting the young talent and calling them
up into higher positions, insiders say, and one can move up without actively
seeking to, but usually moving up involves finding yourself a mentor to ask
questions and advice. You have to proactively manage your career. This
means making the right contacts within the company. If you have a
particular interest, it is up to you to let people know, to get your name in the
game.
Overseas assignments can happen after about three to five years for MBAs.
While these are good career moves, they are not requirements for
advancement within the company, employees say, although they also note
that career progression will likely slow down if one is unwilling to move
abroad. In general, employees say there is no up-or-out pressure at the
company. Its not up-or-out, says one finance MBA. Its a huge
organization and you can find a place that fits you. Insiders say moving
across functions is very easy. This includes a move from Coca-Cola
Corporate to Coca-Cola Americas for those who would rather stay in the
country for family reasons, employees tell us. Cross-functional movement is
a good idea not just to broaden ones skill set, employees say, but also because
it gives you a better feel for expanding your network in the company.
Because networking is so vital to ones advancement at Coke, admits one
financial analyst: In a big company like this, it depends a lot on luck.

CAREER
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37

On the Job
Training
Recruiters and employees say that Coca-Cola looks for already experienced
hires. Coca-Cola hires mostly experienced employees and expects people to
bring a certain level of proficiency with them, according to one recent MBA
hire. Having said that, the training courses that they do offer are excellent.
These classes are taught primarily on-campus, either by in-staff folk or
consultants that Coke brings in. One marketing employee estimates he will
take about 80 hours of classes in his first year. These classes vary from
classes in an employees function to general classes on the organization of
The Coca-Cola Company. The employee and boss work out training
schedules individually; theres no formal structure, according to employees.
Employee evaluations
Coca-Cola performs 360-degree evaluations. Evaluations are supposed to
take place twice a year, but insiders say that, as with many other companies,
they tend to occur only once a year. Aside from the generic and predictable
measures of how an employee gets along with people, and what their quality
of work is like, insiders say, Coke is very concerned with efficiency. Its a
very fast-paced company, says one former brand manager. They need to
know that you can do what you need to do in good time.
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2002 Vault Inc.
Final Analysis
Do you want to become a denizen of Coke Nation? If so, prepare yourself to
be subsumed by a company. Even more so than other large corporations, you
will be forced to identify yourself with your employer. You will cease dipping
into bags of Fritos. You will dress to a tee, and you will begin murmuring
shareholder value in your sleep. You will spend your time contriving to
meet certain executives that you feel can help you advance in the company.
Nevertheless, there are benefits to citizenship, notably great prestige, and a
possibly long, lucrative, and fulfilling career. While world economic
instability has and will no doubt continue to shake this highly international
company, Coke employees can count on a solid management team united by
the vision of the late Roberto Goizueta, the guiding hand and brimming
enthusiasm of Douglas N. Daft, and the continued support of major investors
such as Warren Buffett. Finally, know that loyalty to the company is returned
amply in the form of all the Coke you can drink and a refreshing draft of KO
stock.

CAREER
LIBRARY
39
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Recommended Reading
T.C.C.C.s web site, www.cocacola.com, provides surprisingly sparse
information for prospective hires, although it will give you financial
information, press releases and a skeleton listing of worldwide distribution of
brands. www.coke.com is merely promotional.
The following articles are helpful:

Americas Greatest Wealth Creator: GE, Coke, and Microsoft are the Trio
to Beat. Fortune, November 9, 1998. An excellent article for an
understanding of Cokes business strategies. Fortune gives an explanation
of economic value added, a particular Coke buzz word, and proceeds to
rank American companies according both to economic value added and the
related idea of market value added. Coke snags a number two ranking.
Global Crisis for Coca-Cola, Or the Pause that Refreshes? The New York
Times, November 1, 1998. The Times takes a look at Cokes plight in the
wake of economic trouble abroad, and also reveals CEO M. Douglas
Ivesters confidence that Coke can rebound.
The Unmasking of the Uncola: After Years of Decline, New Owner Plots
Revival at 7-Up. The New York Times, October 15, 1998. This article
places 7-Ups situation in the industry context, and gives a sense of
competing strategies.
Anti-Trust Authorities Open Investigation of Coke, Its Bottlers. The Wall
Street Journal, July 7, 1998. The Journal reviews how Cokes nose hasnt
always been clean in the antitrust realm.
The Real Thing? CFO Magazine, May, 1998. This interview with Coke
CFO James Chesnut covers important topics related to Cokes financial
well-being, including international strategies, information technology, and
marketing, among others.
See also:
The Man Who Knew the Formula, Time, October 27, 1997
Shift in Focus is Expected at Coca-Cola, The New York Times, October
20, 1997
Coca-Cola Goes After Share of Mouth with Fruitopia Campaign, The
New York Times, May 20, 1997

CAREER
LIBRARY
41

Recommended Reading
Coca-Colas American Dream, Beverage World, May 1996

A Coke and a Perm? Soda Giant is Pushing into Unusual Locales, The
Wall Street Journal, May 8, 1997
Coca-Cola, in Direct Attack on Pepsi, to Introduce Challenger to
Mountain Dew, The New York Times, December 16, 1996
How Venezuela is Becoming Coca-Cola Country, The New York Times,
August 21, 1996
42
CAREER
LIBRARY
2002 Vault Inc.
For those hoping to climb the ladder of success, Vaults

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EMPLOY

BY THE STAFF OF VAULT

2002 Vault Inc.

Copyright 2002 by Vault Inc. All rights reserved.

The Coca-Cola Company

CEOs Bio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11

OUR SURVEY SAYS

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Hiring Process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25

Job Descriptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31

The Coca-Cola Company

Visit Vault at www.vault.com for insider company profiles, expert advice,

The Coca-Cola Company at a Glance

All the Coke you can drink

2002 Vault Inc.

The Coca-Cola Company

Visit Vault at www.vault.com for insider company profiles, expert advice,

The Coca-Cola Company

2002 Vault Inc.

The Coca-Cola Company

free-flowing fountains in the Coca-Cola museum in Atlanta. In the United

Shrimp farming is nothing. Shareholder value is

As economies tumble, tap water tastes better

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The Coca-Cola Company

Coke is it all over

2002 Vault Inc.

The Coca-Cola Company

convenience store owners and movie theater concessionaires for giving it

Coke versus the competition

The Coca-Cola Company

Bottling and consolidation

2002 Vault Inc.

The Coca-Cola Company

Major Products & Services

The companys second largest-selling brand outside the United

Sprite: Introduced in 1961, Sprite has overtaken Cadbury Schweppes 7-Up

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The Coca-Cola Company

2002 Vault Inc.

The Coca-Cola Company

The Coca-Cola Company

regional. Products like Georgia brand ready-to-drink coffee and Marocha

2002 Vault Inc.

The Coca-Cola Company

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The Coca-Cola Company

2002 Vault Inc.

The Coca-Cola Company

June 2002: Negotiating for water rights

May 2002: Mixing with the competition

January 2002: Branching out

December 2001: Coke acquires and kills

May 2001: Coke gets Mad

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The Coca-Cola Company

November 2000: Coke settles discrimination

March 2000: Coke trims operations

March 2000: Less Coke in our schools

February 2000: New head for Big Red

2002 Vault Inc.

The Coca-Cola Company

Our Survey Says

The mother ship