Take More Risks! The New CEO of Coca-Cola Wants to Change of Coke's Risk-Averse Culture

Here is a fascinating interview with the new CEO of Coca-Cola James Quincey in which he makes the case for his business to take more risks.

It's perhaps not too surprising that Quincey is keen to encourage people in the business he now leads to take more risks. Look at the chart below which highlights the decline in Coca-Cola's global revenues in recent years. This is a multinational that needs growth, and growth usually involves risk.

Quincey suggests that the business has become too risk-averse - perhaps a feature of the organisational culture of a business that has held a dominant market share in the fizzy drinks (or "soda") market for so long.

He wants to expand the company's beverage product portfolio beyond the traditional soda market (which still generates 70%+ business). Might Coca-Cola also diversify into food brands to leverage its competitive advantage in global distribution?

Quincey is also questioned on how the business sees its role in the fight against rising global obesity and diabetes, and his relationship with Warren Buffett, the company's largest shareholder.