By Luis Galarza
Today's Business Tip.- Did you know that CEO, Robert Goizueta introduced a strategy he called "intelligent risk taking."
He introduced Diet Coke - the first extension of the Coca-Cola trademark. Within two years, it became the #1 low-calorie soft drink in the world. That was a big risk for the company, excellent choice by Robert when he saw that the fitnest market sales start going up. He saw the opportunity and he took it.
In 1985, Goizueta launched New Coke - the first change to the cola's formulation in 99 years. It tested well, but it didn't sell (you not always win, but always need to have a back-up plan). Although critics called New Coke "the biggest marketing blunder ever," Goizueta turned it around. He re-introduced the original formula as Coca-Cola Classic, and increased Coke's lead in the cola wars. What a back up plan he had, eh!
Everytime you check your business plan for referrence, always open your mind to changes, and if you see an opportunity analize it well and if all signs are pointing to profit or market share gain, take it. But, have a good back up plan in case doesn't work.
About Author:
Luis Galarza is a Business and Communication Consultant. Learn how to save money own your phone bill at: www.Cogni360Blog.co.nr. And get your free business tips at: http://LuisGalarza.blogspot.com
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