Ethical Issues at the Coca Cola Company
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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Coca-Cola Company is the largest beverage company in the world as per its market capitalization of $252.71 billion. The company is an American beverage company that specializes in soft drinks and is based in Atlanta, Georgia in the United States (Companies Market Cap, 2023). Coca-Cola Company has suffered a number of ethical issues such as anti-competitiveness, racial discrimination, channel stuffing, distributor conflicts, intimidation, plastic pollution, unethical conduct towards union workers, and health concerns among so many others which have in turn destroyed its reputation. This paper presented a case study of the company's response to a major ethical issue that had tarnished its reputation and threatened its survival. It analyzed the causes and consequences of the ethical breach, and the actions taken by the company to address the situation. The company faced serious consequences due to its unethical practices, such as losing customers' trust, facing boycotts and bans on its products, damaging its reputation, and losing potential investors. To overcome these issues, the company implemented various measures to address the ethical issues and improve its social responsibility. Some of these measures include enhancing transparency, engaging with stakeholders, supporting environmental initiatives, and promoting diversity and inclusion. The company has made significant progress in achieving its ethical goals and restoring its image. In addition, the company has launched a social responsibility initiative to demonstrate the positive intentions it has for the community. By addressing ethical issues, the company may be able to regain the trust of the customers and restore its reputation in the future.
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Ethical Issues at the Coca-Cola Company Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Identify and analyze the ethical issues and challenges faced by Coca-Cola in its global operations
- Evaluate the effectiveness and limitations of Coca-Cola's corporate social responsibility initiatives and policies
- Apply relevant ethical theories and frameworks to assess the moral responsibilities and obligations of Coca-Cola and its stakeholders.
1.0 INTRODUCTION
The main goal of any business organization is to maximize its earnings by establishing a loyal customer base for its products and services. For a company to attain its goal it is required to adopt a strategic approach to marketing, innovation, quality, and customer satisfaction. To expand the customer base of a business, various factors need to be considered that are influenced by the methods employed to reach the target goals.
Some of these factors include identifying the needs and preferences of the potential customers, conducting market research and analysis, developing effective marketing campaigns and strategies, creating a strong brand identity and reputation, offering competitive prices and quality products or services, providing excellent customer service and support, and establishing long-term relationships and loyalty with the customers.
These factors can help a business to attract new customers, retain existing ones, and increase its market share and profitability. It is also important for any business to embrace ethical practices that are consistent with the relevant laws, regulations, and policies that govern its operations. These include domestic and international laws, industry standards, and codes of conduct. When a business infringes any of the ethical practices, it is likely to face legal, reputational, and financial consequences.
One example of a global company that has faced ethical challenges is Coca-Cola, the world's largest soft drink producer. Coca-Cola has been accused of several unethical behaviors, such as environmental pollution, human rights violations, and unfair competition.
COMPANY OVERVIEW
The Coca-Cola Company is an American-based multinational corporation that is engaged in the manufacture, retailing, and marketing of more than 500 non-alcoholic beverage brands including the iconic Coca-Cola. Coca-Cola Company is the largest beverage company in the world as per its market capitalization of $252.71 billion. The company is an American beverage company that specializes in soft drinks and is based in Atlanta, Georgia in the United States (Companies Market Cap, 2023).
Revenue for the year 2023 was US$44.1 billion up from $43 billion that was generated in 2022 and $ 38 billion that was generated in 2021. Interbrand, the global brand consultancy ranked the Coca-Cola brand 7th in the 2022 rankings for “Best Global Brands” with a brand value of US$57.5billion (Interbrand 2023).
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