Page 6: Taking risks - a learning process
Intelligent risk taking at Coca-Cola has three main features:
- There is confidence in the core business. The organisation knows that people like Coca-Cola and want to have it available to them.
- Action is taken boldly and swiftly. Once Coca-Cola recognise what they want to do, they get it done in a decisive, no-nonsense way e.g. the expansion into Eastern Europe.
- The company is capable of learning 'on the run'. It has the flexibility to change course if things do not quite work out as was originally planned e.g. the launch of New Coke. The important thing about intelligent risk taking is not how you take a risk, or even what the risk is. Learning through the experience of taking risks is vital if better results are to be achieved next time.