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Corporate Social Responsibility OF COCA COLA
Corporate Social Responsibility OF COCA COLA
CSR of Coca Cola
Corporate social responsibility refers to the integration of self policing by a corporate in to a business model. Also referred to as social performance or corporate conscience, corporate social responsibility (CSR) aims at encouraging a positive impact via its activities on employees, consumers, stakeholder’s communities and on the environment. Through its policy, CSR assists a business to monitor and ensure that its activities are in compliance with the law. In some cases, CSRs activities may engage in actions that will further the social good of a firm (D’Alessandro, 2001).
An organizations financial performance has been found to correlate to social/environmental performance as found by Rynes, Orlitzky and Scmidt. Therefore, organizations have been urged to embrace measures beyond financial gains and there are lost of literature written of the same perspective. Organizations that implement a CRS based strategy have varying benefits depending on the nature of the enterprise thus can not be easily quantified. Within the organization, the CSR may be based in various departments such as human resource, public relations or business development. In some instances, the CRS may be given a separate unit thus reporting to the CEO or the board. Many organizations will therefore adopt CSR strategies due benefits discussed here in (Coca-cola company, 2000).
A CSR program may be used as a human resource tool considering the highly competitive graduates in the market for hire. A CSR program would be of great value during recruitment or retention. Recruits on the other hand may ask about a company’s CSR policy while being interviewed thus a comprehensive policy would be an advantage to a company. Such a program will also improve the staffs’ perception of the company through activities such as fundraising, community volunteering and payroll giving.
Many organizations want to maintain a good reputation and therefore avoid incidents that may ruin it. This makes risk management a vital part among the corporate society to avoid accidents or scandals involving corruption which may draw unwanted attention from the media, government or regulators. Therefore a CSR program building a culture of doing the right thing helps deter these risks (D’Alessandro, 2001).
With the increasing number of companies producing the same product, the market place has become competitive and thus need for uniqueness. CSR, basing on distinctive ethical values, help build customer loyalty. This is beneficial to businesses as a reputation of integrity and good practice is build.
A CSR team would also plan an organizations objectives and goals with a budget as the highest priority, thus assisting in reaching the desired audience. While planning, the CSR has the duty to: assessing the organizations future, prioritize an organizations projects that are environmental and socially friendly, influence decision making positively where impacts on the society are high yet ensure efforts are within the budget, discuss and analyze new set of risks within the organization, and also represent issues in the corporation that watchdogs and advocates represent within the society (D’Alessandro, 2001).
Businesses rely on suppliers to reduce costs while improving the quality of their goods and services. This has made company’s reduce the number of suppliers they do business with in order t lower operating costs. Thus companies are able to push for price reductions and quality improvements by establishing a strong supply chain and hence benefitting by creating a better value for stakeholders. Companies like Coca-Cola shift suppliers whenever they are offered lower prices arising from competition. This creates greater profits which in turn aid in strengthening the market (Coca-Cola Company, 2000).
This is referred to as supplier relations and it’s therefore important to practice CSR to suppliers and finding out their existing supply chain is important to staying on track of a company’s CSR activities that they have implemented.
Coca cola is among the company’s that have embraced the CSR strategy and considering that CSR is a process aimed at encouraging a positive impact through its activities on the environment, coca cola embarked on a recycling venture between CCE and ECO plastics that opened in May 2012. The plant known as continuum recycling is the largest plastic bottle reprocessing facility in Western Europe. The company pledged to recycle colorless PET plastic bottles disposed at the London 2012 Olympic Games recycling them into 80 million new bottles within six weeks of the closing ceremony. This helped put coca cola in Great Britain’s good books whose main issue is getting people to recycle. This was done in collaboration with WWF-UK to ensure that their sponsorship of the games was sustainably delivered focusing on three key areas: carbon reduction and compensation, delivering a zero-waste game and promoting health wellness (Da Silva, 2010).
This kind of business model has enabled coca cola to engage in community based projects such as the water project in Vietnam. To make such a community based project successful, company’s must engage in these communities thus representatives comprising of CSR, finance, public affairs and NGOs personnel travel to these communities to interact with them and carry out a project design. The company utilizes this to learn about the community’s specific needs and thus targets it assistance where it is most needed (Da Silva, 2010).
The coca Cola Company believes that for their business to be successful, the community within must be successful too. Therefore the company has partnered with organizations such as World Wildlife Fund (WWF), United Nations Development Program (UNDP) and U.S Agency for International Development (USAID) to enable them support sustainable communities while sharing the best practices that allows the company to improve the way they run their business. This has made coca cola invest heavily in monitoring and evaluating its community based projects and participates in the Global Reporting Initiative such as the 2009 report of 2007/2008 that detailed the metrics of its projects demonstrating the gains on investment for its stake holders and share holders (Woods and Baldry, 2012).
Being a business, coca cola invests in these community projects not out of philanthropy or as charity but as part of its business model. Positive results from these projects are a boost to their brand image and definitely positive press coverage. For example, during a press event to launch the clean water project in Lien Chie District in September 2010 generated 13 positive press articles in local papers (Woods and Baldry, 2012).
References
Da Silva, J. 2010. CRS studies: Coca cola.http://www.globalcompactvietnam.org/upload/attach/
Coca-cola.Study.Submitted.27-Oct-2010.pdf
Woods, Baldry.2012.Corporate responsibility and sustainability summary 2011/2012:Reports on
the activities of the Coca-cola system in Great Britain.http://www.cokecorperateresponsibility.
Co.uk/media/70634/coca-cola%corperate20%responsibility%20&20sustainability%20summary
%202011-2012.pdf
D’Alessandro, W. 2001:Corporate leadership in environmental management.Publisher:Arlington, Mass. Cutter Information Corp.
Coca cola Company. 2000.Abhiyan the movement: PET recycling. Publisher: [New Delhi] : Dept. of Environment, Govt. of Delhi : Coca-Cola India
Define and discuss initial individual markup.
Running Head: BUSINESS
Business
Name
Tutor
Course
Date
Business
A. Define and discuss initial individual markup.
Initial individual markup is the average markup required for all products. This markup helps in incidental expenses, covering the cost of items and obtaining reasonable profits. The initial individual markup is equal to ‘operating expenses’ plus ‘price reductions’ plus ‘profit’ divided the sum of forecasted net sales and price reductions.
B. Define cumulative markup and discuss how it is used.
Cumulative markup is the total retail cost minus total cost divided by the total retail cost. It is expressed as a percentage and is often used cost method of accounting. It is used in finding the average percentage markup for the trading period.
C. Define average markup and discuss how is it used?
An average markup gives the summery of the markup prices for a grouping of items. It does not focus on for single items. It is used when it is added to one or more percentage of the total cost of the sale of a particular product.
D. Define markdowns and discuss the causes of them.
Markdown is the reduction of price or the particular price by which a product’s marked price is reduced. To markdown is to change price in order to raise its demand.
E. What does “The first markdown is the cheapest” mean? Give an example.
It means that a business man should be able to identify the type of merchandise that fit testing, incoming, pre-peaking, post-peaking and outgoing. For example if all the fists are represented, a particular store will have a head up on competition in order to provide customers with the reason of doing business in a win-win situation.
52. This question deals with the “role of the buyer”. (5 Points)
A. Define “Buyer” as it pertains to this course.
This is a person who is responsible for selecting and planning a range of products in order to sell in trade outlets. This person should consider customer demands, market trends, store policy and financial budgets.
B. Discuss the “Buyer – Seller” relationship
There are three levels of buyer seller relationship. The first one is adversarial which entails the traditional win-relinquish relationship. The buyer here will squeeze the supplier for even a slight discount. In barometric relationship, the buyer and the seller engage in cover your asset basis because they are still monitoring the relationship between them. The final relationship is complementary. This level is where true and integral partners meet. Their visions and values overlap with each other. They straggle to work hard in order to help their partner get what they need in business.
C. Discuss the basic forms of negotiation as it pertains to the “Buyer – Seller” relationship.
Integrative Negotiations
This entails negotiation where buyer and the seller join forces to achieve something. It involves a higher degree of trust.
Distributive Negotiations
This involves a negotiation between people who have never had an interactive relationship or between people who are not likely to meet in future. It involves the everyday negotiation when buying and selling commodities.
D. How does the traditional chain organization differ from those that belong to the category that employs “The Store is the Brand” retail strategy?
The difference is in the unified organizational structure. Traditional chain organization is under one single leader and it encompasses the traditional supply chain functions.
53. This question deals with terminology as it pertains to this course. (10 Points)
Please define the following and include an example of each:
Store within a Store
This is an agreement in which a shop lets part of the building to be used by a different company to run another outlet. This type is often seen in supermarkets and filling stations.
Store is the Brand
These are line products sold by retailers who function under a single market identity but are spread in different location i.e. Richelieu Foods and The McDonald’s
Special Event
This is an event that focuses on a single purpose. It entails ground breaking ceremonies and grand opening.
“Keystone Plus” marking
Are private companies categorized under professional organizations i.e. Keystone Plus Marketing Inc.
Reorder
This is ordering the same good again.
Special Order
Is a discussion of whether to accept a particular order or not at the offered price it is normally offered bellow the normal selling price.
“Price Points”
Price pint is the retail price of a product that is usually viewed as a serious competitive product price
Classifications
Classification is a general organization of items into mutually exclusive and related classes
EDI
This is Electronic Data Interchange
Rack Jobber
This is a person who arranges products on the shelves of stores
57. This question also deals with Private Label.
Discuss how a retailer might introduce a new Private Label Program. Give at least 5 ideas and explain why each idea would be effective. (5Points)
58. Discuss the growth of social media as it pertains to retailing.(5 Points)
59. A vendor offers an item costing $9.00 to a buyer with a 50% seasonal markup plan.
The buyer determines that at $18.00 retail she can sell 1000 units during the month.
The vendor tells her that if she marks it $10.00 retail, she could sell 1,000,000 units in 2 weeks. He further guarantees her that if she does not sell the 1,000,000 items in 2 weeks; he will buy the remaining inventory at $10’s retail per piece. Would you accept the deal? Justify your answer carefully. (10 Points)
In the first sale, the cost is $9000 and the revenue would be $1000 × $18 = $18000 the revenue is $9000 after one month.
The second option we have 9 × 1000000 = 9000000
Revenue is 10 × 1000000 = $ 10000000
Subtraction we’ll get $1000000 after two weeks
He should accept to sell at the vendor price that is $ 10 because he would make a profit of $ 1000000 within two weeks. The other option of selling at $18 will only earn him $9000 after one month. This is because the vendor has agreed to by the remaining inventory and thus he will not have to hold the stock for a long time
Corporate Social Responsibility in Extraction of Raw Materials and Supply Chain Management
Corporate Social Responsibility in Extraction of Raw Materials and Supply Chain Management
By Name
Institution
Course and Code
Date
Introduction
The current business environment demands that businesses improve all of their core activities and process such as the supply chain management and extraction of raw materials processes in order to stay ahead of the competition. One of the best ways of presenting an attractive value proposition in the current customer-focused environment is to package corporate social responsibility (CSR) as an essential part of a business (Wang, Zhang, & Zhang, 2020). CSR is used by firms to remind consumers of the value that an organization adds to its area of operation. Today, CSR forms a critical part of any business dealings, especially in the supply chain management. CSR is demanded by external stakeholders such as communities where a business operates, customers who want to see organizations being responsive of changes in the environment, and governments and local authorities in ensuring that the public benefits from the presence of an organization. Therefore, because there is no separating the modern supply chain management with CSR, it is important to study how the two can be integrated to provide benefits to an organization. In line with these, the proposal is guided by the following questions that emerged from a review of literature conducted prior to this paper:
1. Can innovativeness in CSR’s application create a competitive advantage for a business?
2. Is the implementation of CSR policies likely to reduce the profit margins for companies?
3. What stages require the implementation of CSR in the supply chain and which parts of the chain are more applicable?
The study is relevant because it will help to inform the extant literature on CSR and the supply chain. It is also significant for business owners and managers as it will help them to focus on what adds value and to reduce any inefficiencies emerging from the findings of the study. The project is interesting because it adds to an area of research that keeps changing as the world transforms.
Where and Scope
The study will target individuals in logistics management, planning, dispatching, strategic procurement, inventory control, supply management, scheduling, and sourcing. In terms of the organizations targeted, the study will narrow down the scope to include any multinational organizations chosen at random, whether the company uses CSR in supply chain management or not. The reason for this decision is that the study intends to find out whether there are any advantages to using CSR in raw materials extraction and supply chain management or not. It also intends to evaluate whether there are any inefficiencies caused by either the use of these processes or otherwise. Because of these objectives, the study results will be more practical and applicable to a larger market size if the findings are inclusive of companies that actively include CSR in the supply chain management and those that do not. Specifically, the company will recruit managers in the aforementioned departments from organizations including Apple, Unilever, McDonald’s, H&M, Nestle, and Tesla.
The above companies have been targeted because of their market positions and their reach. Some of them, including Tesla and McDonald’s have openly discussed the use of green supply chain practices. To convince the companies and the individuals to participate in the study, I will present an idea of solving a problem regarding better initiatives in the supply chain management to ensure sustainability. The study will be presented as an opportunity to work with the different managers to create efficiencies. I plan to contact these participants via their official social media accounts and websites. I will engage them through Twitter and Facebook to agree on a suitable date for an online interview.
Research Methodology
To collect data, I intend to use primary approaches. Johnston (2017) describes primary research as any type of information gathered by self-conducted research techniques. The main aim of using primary research technique is to fill subsequent gaps in study and information availability that lacked during the literature review process. I specifically selected primary research so as to answer questions that directly relate to my research aim and themes. Notable gaps I have identified relating to my research study pertain to the application of legality and credibility and the uncertainty in the implementation of policies on CSR in supply chain management and the extraction of raw materials for modern organizations. Therefore, primary research will add value to my research because it will give a first-hand experience and allow an up-to-date analysis of CSR and supply chain management (Hu, 2010). I have study questions that are yet to be answered through a comprehensive review of extant research. Therefore, primary research provides the best avenue to have these answered.
To achieve the study objectives and collect primary data for my research, I will use qualitative research interviews. Watkins (2017) found qualitative research interviews to be a deep data collection approach that elicits detailed feedback and information from research participants. Specifically, I will use structured interviews to collect information on a number of decision making criteria that managers use in relation to meeting supply chain management demands and the need for their organization to ensure CSR implementation in line with the modern business demands and those placed upon businesses by the consumer. Specifically, I have chosen qualitative research because it will allow the research participants to be themselves so as to gain an inside look on how decisions are made, the reasoning behind it, and to gain accuracy in the responses provided. The advantage of using qualitative research in data collection is that it will enable an understanding of attitudes, generate more relevant content, and provide insights relevant to my study and area of specialization (Archibald, Ambagtsheer, Casey, & Lawless, 2019). The approach will allow my study to incorporate the human experience and better grasp why supply chain management needs to use CSR as a part of creating an advantage for an organization.
Research Design
To collect data for my study, I will use a descriptive research design. I have already identified my research variables as CSR, supply chain management, and extraction of raw materials, as well as gaining an advantage in the industry or creating incompetency as byproducts. I do not have a hypothesis but rather intend to develop one after I gather and analyze data. The design will combine the advantages of a primary and qualitative research approach to gather data through online interviews. The interview will follow an open-ended structure to allow the respondents to provide opinions relating to their expertise and experience working on different fields. Because my research approach relies on computer-mediated communication through the use of video calls, I will write down all my questions and record responses for later use. To ensure that data is unbiased and objective, I will outsource help in coding the data, have participants review my results, and use triangulation from other sources of information. I will also use alternative explanations and review the overall findings with peers. The project is feasible and realistic because it involves a problem that can be studied and solved using available data. Gathering of information is also relatively easy because of the chosen modes of engaging participants.
Projected Timeline
To conduct this research, I will continue performing a review of the current literature on the subject to see if more gaps emerge. I have already set out the research aims and questions that will provide a plan, vision, and a guide for any use of secondary data. I will then target organizations and specific individuals within the departments identified including; logistics management, planning, dispatching, strategic procurement, inventory control, supply management, scheduling, and sourcing. I will narrow down the interviews to include individuals from Apple, Unilever, McDonald’s, H&M, Nestle, and Tesla as they are the best fit for my project. I will then draft a proposal budget to make sure that all objectives can be met ad later seek guidance on the above steps from my instructor and peers. The same group will also be critical for the review process after data collection to help with validity and objectivity. I will then write the proposal, edit, and use peer groups to review and offer comments. I will then finalize the proposal ready for presentation. I expect this to take a minimum of two months.
Conclusion
This proposal will achieve my research goal because it focuses on answering the following questions:
1. Can innovativeness in CSR’s application create a competitive advantage for a business?
2. Is the implementation of CSR policies likely to reduce the profit margins for companies?
3. What stages require the implementation of CSR in the supply chain and which parts of the chain are more applicable?
I have chosen a research methodology that best fits the above requirements including considerations for the best individuals and organizations to use as participants. I have also chosen to use a descriptive design because of the nature of the problem identified via the gaps including: the application of legality and credibility and the uncertainty in the implementation of policies on CSR in supply chain management and the extraction of raw materials for modern organizations. The research will contribute to the wider literature and research on the issue of CSR application in supply chain management because of the present rush by organizations to implement greener strategies and to contribute positively to the benefit of society in line with the demands of the market and consumers. It will add to the knowledge available and provide a basis for future studies on the topic.
Implications
The findings of this project will help organizations and managers in the different phases of supply chain management to understand the benefits or incompetency created by implementing CSR approaches. According to the stakeholder theory of management, CSR is meant to cover every relevant stakeholder (Tekin, Ertürk, & Tozan, 2015). Understanding how CSR benefits both the internal and external stakeholders, especially in the supply chain management process, would be of help to organizations. Again in the triple bottom line theory, considers the environmental, social, and economic dimensions of performance (Brin & Nehme, 2019), a concept that is of relevance to the modern-day organization as it endeavors to make the best out of every process and framework. It will also help researchers by narrowing down a modern day issue that is relatively understudied. Practitioners and policy makers in the CSR and supply chain fields will also benefit through the findings of this research in their decision making processes and the development of the foregoing concepts.
Ethical Considerations
Some significant ethical concerns that I will take into consideration in my research include informed consent, anonymity where applicable, and confidentiality. I will also ensure voluntary participation and will endeavor to only evaluate the concepts and issues mentioned in the consent forms. To ensure these issues are addressed, every participant will be briefed on their rights, informed of their right to terminate participation at any time, and the right to receive information relating to the study. Consent forms and confidentiality agreements will be presented and signed before commencement of collection of data. Additionally, every participant will have a code name to ensure individual anonymity.
References
Archibald, M. M., Ambagtsheer, R. C., Casey, M. G., & Lawless, M. (2019). Using zoom videoconferencing for qualitative data collection: perceptions and experiences of researchers and participants. International Journal of Qualitative Methods, 18, 1609406919874596.
Brin, P. V., & Nehme, M. N. (2019). Corporate social responsibility: analysis of theories and models. Available at http://eu-jr.eu/social/article/download/1007/993
Hu, H. (2010). Primary research of the advantages and the cost control of the ABC & EVA integrated system. International Business Research, 3(3), 141.Johnston, M. P. (2017). Secondary data analysis: A method of which the time has come. Qualitative and quantitative methods in libraries, 3(3), 619-626.
Tekin, E. K., Ertürk, A., & Tozan, H. (2015). Corporate social responsibility in supply chains. Applications of Contemporary Management Approaches in Supply Chains, 1-12.
Wang, C., Zhang, Q., & Zhang, W. (2020). Corporate social responsibility, Green supply chain management and firm performance: The moderating role of big-data analytics capability. Research in Transportation Business & Management, 37, 100557.
Watkins, D. C. (2017). Rapid and rigorous qualitative data analysis: The “RADaR” technique for applied research. International Journal of Qualitative Methods, 16(1), 1609406917712131.