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- Introduction
- The Coca-Cola Company’s Code of Conduct
- Competitors Codes of Conducts
- The Importance of Attaining the Priority Areas
- The Relevance of the Codes Amid External Environmental Changes
- Approaches by the Firm to Embrace Technological Advances
- Lobbying Strategies Adopted by the Firm
- Global Corporate Citizenship Efforts of Coca-Cola Company
- Summary
Introduction
In this presentation, the following issues about the Coca-Cola Company will be discussed:
- The firm and its code of conduct.
- The relevancy of the code of conduct.
- Approaches by the firm to embrace technological changes.
- Lobbying strategies by the firm.
- Global corporate citizenship of the firm.
The Coca-Cola Company’s Code of Conduct
The firm’s code of conduct is based on integrity around the globe and contains the following concepts:
- Act with integrity.
- Be honest.
- Follow the law.
- Comply with the code.
- Be accountable.
To attain the core competencies, the firm adopted a sustainability strategy that emphasized:
- Honesty on environmental issues.
- Honesty in business dealings.
- active healthy living.
The key issues of the code of conduct that has contributed to the success of the firm include being ethical in its conduct of environmental issues, honest in business dealings and non-acceptant of corruption, as well as achieving active healthy living for all in the society. The three areas encompass the important key pillars of good corporate citizenship and responsibility, which is critical in maintaining good relationship with all stakeholders.
Competitors Codes of Conducts
- Emphasizes on integrity and honesty in business conduct.
- However, Coca-Cola have attained a lot in sustainability areas.
- Sustainability issues such as the community maintenance, beverage benefits, the workplace, active healthy living, energy and climate, water stewardship and sustainability practices form the basis of CSR activities of firms in the industry.
While firms almost have similar sustainability issues to be pursued in order to increase their competitive advantage, the strategies, ability and the level in which the firms have attained the CSR and ethical conducts goals differ.
The Importance of Attaining the Priority Areas
To increase the competitive advantage.
To attain sustained growth and development in the market.
To achieve positive relationship with the clientele which contribute to increased outcome of the firm.
However, attaining the priority areas involves:
- Increased costs.
- Backfire when the firm fails to collaborate with communities.
As indicated, addressing these key areas is critical for the firm’s sustained growth and development in the market. In fact, these areas increase the competitive advantage of the firm.
The Relevance of the Codes Amid External Environmental Changes
Measures that Coca-Cola Company can take to ensure the code remain relevant amid political, social and economic transformations include:
- Establish a clear sustainability programs;
- Collaborate with stakeholders while delivering the sustainability programs;
- Continuous update of the code of conduct in line with environmental needs.
However the firm has been criticized for its CSR efforts.
The transformations in external environment will always affect the business processes of the firm including ethical conducts. To remain relevant amid these changes, the firm has to update its code continuously in order to be in line with the current environmental needs.
Approaches by the Firm to Embrace Technological Advances
Technological advances affect the manner in which the firm is doing the business.
As such the firm:
- Incorporates new technological advances into the business processes.
- Adopts technology in new business areas and new marketing strategies.
However, challenges in the use of new technological advances include:
- Maintaining patents and copy right laws.
- Destruction of the firm’s reputation.
Technological advances affect all aspects of business. As such, the firm has incorporated the technological advances in all business processes ranging from supply chain management to marketing.
Lobbying Strategies Adopted by the Firm
The firm is dedicated to maintaining integrity in all business processes.
However, certain conditions require government interventions.
Therefore, the firm has applied the following lobbying procedures:
- Through the application of non-corruption platform.
- Legal procedures.
- CSR activities.
Even though the firm is committed to the maintenance of integrity in all business operations, there are certain areas that need government intervention. The firm has majorly applied the legal and CSR platforms to lobby the government towards its activities.
Global Corporate Citizenship Efforts of Coca-Cola Company
The firm has been involved in various corporate citizenship efforts around the globe that include:
- Provision of sustained water supply to communities.
- Efforts towards environmental sustainability.
- Community stewardship.
- Sports partnerships.
The firm has been involved in various activities geared towards the improvements of societies and environmental sustainability. Such activities are perceived as being involved in global citizenship.
Summary
Coca-Cola Company’s code of conduct emphasizes integrity in all business processes.
The firm’s code of conduct has incorporated international ethical standards and Corporate Social Responsibility (CSR) guidelines.
The firm has come up with various sustainability programs to ensure that its code of conduct remains relevant.
Besides, the firm has incorporated new technological advances into business processes.
Furthermore, the firm has been involved in various corporate citizenship activities across the globe including enhanced environmental sustainability.
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