Branding Essay Example | Topics and Well Written Essays - 3000 words - 2

Branding - Essay Example jectives to help and innovate and expanded its product lines, which greatly helped the company to expand overseas as people everywhere had the same needs and wants. Presently, Colgate is listed as one of the best-selling brands and operates in over 200 countries with an annual turnover in excess of $9 billion (Kantar, 2014). Colgate’s success shows how important it is for global enterprises to support their values, for example; Colgate’s global values are: caring, continuous improvement, and global teamwork, which enable the company to improve and adapt to the changing customer needs, as well as, global market challenges (Colgate, 2013). The company’s stable global growth also is because of the company’s ability to focus on its four strategic initiatives, such as: engaging to build the brand, innovate for business growth, effectiveness and efficiency, and leading to win (Colgate, 2013). Colgate always carries out environmental scanning that helps the company to identify the external factors that will influence organisational performance (Wood, 2010). Factors that are political, legal or technological may pose different threats to Colgate’s business when entering a new country, or even, when the company has already successfully established its operations. Therefore, the external audits carried out are always considered to be a major focus for any organisation that wants prosperity (Baines, 2011). Furthermore, Colgate-Palmolive concentrates on creating personal care products in areas where the competition in this sector is relatively high. This means that; Colgate has to monitor the situation around its business in order to take the lead among its rivals (Schultz et al., 2006). The first and most important external audit that Colgate needs to constantly monitor is the governmental regulations. This is especially as Colgate is a multinational corporation each political atmosphere in every country that Colgate-Palmolive operates has the same value and