Two of the world’s largest soft drink companies are PepsiCo and Coca-Cola. Find their most recent annual reports in either your library or on the Internet (look, for example, at the companies’ Web sites or the Securities and Exchange Commission’s EDGAR site, www.sec.gov). From the presidents’ letters, identify and list similarities and differences in these two competitors’ declared strategies. (Hint:

Describe and contrast each company’s value chain.)