Coca-Cola is one of the world largest beverage companies in the world. The company offers its consumers with more than 500 sparkling and still brands. The company is best known for its flagship invention of the product coca-cola which was invented in the in 1886 John stitch Pemberton. The management of the company has committed efforts toward ensuring that the company continues to offer quality products to its consumers. The company has managed to grow and expand where it now operates in over 200 countries worldwide with a customer base of approximately 1.7 billion. In this case the coca cola company mainly produces the syrup concentrate, which is later sold to the various bottlers company worldwide.
The company has engaged into many corporate social responsibility projects globally (CSR). The CSR projects are economically important to the company as they improve business relation between the management and the stakeholders. The company has established numerous globalization policies which are in line with the company mission to refresh the world both in the body and in the spirit. In addition, the management of the company aims at ensuring that the company create value and make a difference everywhere they engage. Most importantly, the company also aims at ensuring that they introduce brand that help to satisfy the needs of all people. The company has been one of the most prominent companies in the beverage industry worldwide.
Corporate Social Responsibility
Coca-Cola operates in more than 200 countries globally. Ultimately, there is need for the company to engage in many activities which have economic benefit to the communities around their business. Ultimately, organizations are expected to observe economic components that are they should conduct their business in such a way that they are consistent maximizing earnings per share (Asongu 84).
Coca-cola is not unexceptional, hence the company should determine perfectly how they conduct their business so that to remain in the competitive edge hence maximizing the amount of profits they make. It is economically important to for companies in this sector should ensure that they maintain strong but health competitions for a common objective of the shareholders. Evidently, the only possible means to maintain a healthy relationship with the stakeholders is by engaging them through corporate social responsibilities projects (Asongu 84). In addition the company should be defined by its consistent profitability of its total output productivity.
The objectives behind the coca-cola company engaging in Corporate Social Responsibility activities it to guarantee sustainability. Basically, the company bases it operations on the business ethics such as initiating development projects, contribution to training, facilitating economic growth among others (In Idowu 201). It is evident that is if a company is economically stable it offers many benefits to the shareholders and the larger country in general. For instance, if a company is economically stable it will employ people and it will greatly contribute towards building a stronger economical country. Coca-cola Company is always keen to ensure it has followed the due process and theories concerning how it operates corporate social responsibility projects or activities.
Ultimately, Social responsibility has four dimensions that the company should be socially responsible. These include, legal, economic, voluntary and ethical. Coca-cola Company is more focused to create profits but should aims to ensure the wellbeing of the society at the same time ensuring the set laws and regulations by the legal systems. Voluntary responsibilities for a company entail the ability of companies to initiate programs and other activities that aims to ensure wellbeing of the surrounding community. In business context, companies which ensure ethics and social responsibility in all levels of their operations are likely to have better outcomes than those which do not ensure social responsibility and ethics.
For many years now, coca-cola company has followed and maintained the basic economic rules governing the manner at which Corporate Social Responsibility is carried out. Many of its activities and programs are long term which has the aim to affirm the sustainability of the company (Idowu & Leal 46). Basically, the company has established many measures which ensure they are in line with the rules and model. Analysis of the company organizational structure and its modus operandi it is evident that the company has managed to achieve their objectives. This is because the despite the fact that the company is organized into several regions the top management has implemented control measure of ensuring that the company in all the regional groups produce the same brands.
According to the report released in 2008 there is an indication that the company is performing stunningly in the corporate responsibility sector. The most areas which the company performs perfectly are issues concerning water issues carbon dioxide emission and product packaging. Corporate responsibility or sustainability is the key factors for companies to achieve good productivity (Idowu & Leal 46). Good ethics and social performance go hand in hand in ensuring that the company achieves good performance. The fact that the company engages in many social corporate responsibility activity helps the company to enhance its brand image and reputation. Evidently, customers habitually are attracted to brands and companies having good reputations in corporate responsibility areas.
The tables below show the performance of coca-cola in relation corporate social responsibility activities.
In this context, the company uses appropriate social accounting procedures which help the company to handle properly all matters concerning accountability. The company uses annual audits from credible firms and inspections to ensure success of these programs. For instance the statistics indicates a positive growth in the green house project footprint. Ultimately, this project has many economic advantages to the people and world in general (Asongu 86). Reduction of green house gases helps to eliminate harmful gases which are the major threats to the economy of all countries in the world. As a matter of fact, Coca Cola Company appears to have good strategies which guarantee long term CSR programs irrespective of the mother country.
From the above discussion it is evident that, Coca-Cola operates in more than 200 countries globally. Ultimately, there is need for the company to engage in many activities which have economic benefit to the communities around their business. The fact that the organization more than 500 sparkling and still brands gives it a better chance to engage in many activities which tend to benefit the society where they operate in. These projects are economically important to both society in general and the company. Basically, voluntary responsibilities for a company entail the ability of companies to initiate programs and other activities that aims to ensure wellbeing of the surrounding community. In business context, companies which ensure ethics and social responsibility in all levels of their operations are likely to have better outcomes than those which do not ensure social responsibility and ethics
Asongu, J.J. Strategic Corporate Social Responsibility in Practice. Lawrenceville, GA: Greenview Publishing, 2007. Print.
Idowu, Samuel O, and Filho W. Leal. Global Practices of Corporate Social Responsibility. Berlin: Springer Berlin, 2008. Print.
Idowu, Samuel O. Professionals Perspectives of Corporate Social Responsibility. , 2009. Print.