On April 23, 1985, the Coca-Cola Co. made one of the worst business decisions in history. With nearly 100 percent name recognition and more than 20 percent market share, the company decided to change its 99-year-old formula.
New Coke was born, and the public was outraged. The Coca-Cola brand became fodder for late-night jokes, people hoarded "Old Coke" by the case, violent protests erupted and faithful drinkers switched to Pepsi.
Within months Coca-Cola was forced to make the difficult decision of bringing back "Old Coke." In other words, the company changed its mind.
Much of this political season has been filled with accusations of waffling and flip-flopping. Issues like winning the war on terror, military budgets and education are all examined not only in the light of today, but with a focus on how candidates viewed issues throughout their careers. Any deviation from a stated position is now called into question as personal weakness. Any candidate who changes his mind is seen as unfit to lead.
If the leaders of Coca-Cola had been unwilling to see their decisions in the light of the latest information, the company might be bankrupt today. Instead, they studied the most recent data, re-evaluated their position and reacted appropriately. They were rewarded with customers who were even more loyal to the brand.
The willingness to change opinions is one of the key reasons why the United States has maintained its role as global leader. Every president needs to have a willingness to re-evaluate any situation, allowing critical decisions to be made with the most up-to-date information. The best hope for winning the "war on terror" is our ability to respond to a changing world without being trapped by old ideas.
Seventy-nine days after the introduction of "New Coke" the company decided to put "Old Coke" back on the shelves. In contrast, many politicians today charge blindly ahead in fear of repercussions that come from admitting mistakes.
Being able to examine situations by taking into account the most current information should be an asset, not an embarrassment. When politicians make any decision, it should be based on the latest information, not in fear of something they said on the campaign trail. Whoever is elected president this November, I encourage him to stay open to changing his mind. I encourage him to "waffle on."
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John R. Wall is producer/project manager for The PPS Group in downtown Cincinnati.
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