Corporate Social Relationship
Primary Products and Services
From the onset, it would be prudent to note that the Coca-Cola Company happens to be one of the best known enterprises in the world. The company also has a rather rich history having been established 136 years ago and later on growing to become the iconic brand that it is today. At present, the company has its headquarters in Atlanta, Georgia. In essence, being primarily a beverage corporation, the company makes and offers for sale a wide range of beverages and drinks to customers. As the company observes, it has a total of 4 beverage categories, i.e. coffee and tea; juices, dairy and plant-based; sparkling soft drinks; and waters and hydration (Coca-Cola Company, 2022). Some of the best-known brands that the company has in its portfolio at the moment are inclusive of, but they are not limited to; Coca-Cola soft drink, Costa Coffee, Dasani water, Schweppes, Sprite, Fanta, etc. Being a multinational, the company has operations and supplies its products in multiple places or locations across the world.
Primary Stakeholders and their Influence on Coca-Colas Financial Performance
There are a number of primary stakeholders that could have a huge impact on the companys financial performance. The stakeholders that will be taken into consideration in this context are: customers, management, and shareholders.
a) Customers
When it comes to customers, it is important to note that this particular stakeholder group largely comprises of those who purchase the various brands that the Coca-Cola Company has on offer, i.e. as has been highlighted above. With this in mind, they happen to have a huge impact on the profitability of a company. This is more so the case given that they have the choice of either purchasing the various products offered for sale by the Coca-Cola Company, or settling for products offered by the competition. If customers are loyal, then this would have a positive impact on the companys bottom line.
b) Management
The management also happens to be a crucial stakeholder on this front owing to the roles it plays on the planning, leading and controlling fronts. Managers develop and implement strategies with an intention of further enhancing the success of the company in an otherwise competitive business environment. It therefore follows that if the management of the company is effective in the formulation of effective strategies, then the company can have a lasting competitive advantage and outperform its competitors. At present, the companys chief executive officer happens to be James Quincey. He also doubles up as Chairman...
…biggest success in as far as response to a current social issue happens to be its move to pledge more than 100 million to support COVID-19 relief efforts in communities around the world (Coca-Cola Company, 2022). The COVID-19 pandemic wreaked havoc across multiple communities leaving families destitute and individuals depressed. Thus, the assistance of organizations and persons of goodwill was instrumental in efforts to help those negatively impacted by the effects of the pandemic cope and get back on their feet. Amongst other things, the Coca-Cola Company opted to direct its contributions towards supplies meant to minimize the suffering of those impacted by the disease i.e. via contributions towards the purchase and/or distribution of medical equipment and related supplies, as well as engagement in diverse community relief programs. In so doing, the company endeared itself to socially conscious customers. In essence, conscious consumerism has been defined by .., as the buying practices driven by a commitment to making purchasing decisions that have a positive social, economic, and environmental impact (Crowford, Brennan, and Khamis, 2020, p. 312). It therefore follows that the move by the Coca-Cola Company to engage in activities meant to lessen the impact of COVID-19 on the society could have a positive impact on its bottom line…
References
Bove, T. (2022). The World Bank says most countries are headed for a recession, and warns of a possible return to 1970s ‘stagflation’. https://fortune.com/2022/06/07/world-bank-global-recession-inflation-stagflation/
Crowford, R., Brennan, L. & Khamis, S. (2020). Decoding Coca-Cola: A Biography of a Global Brand. Taylor & Francis.
Coca-Cola Company (2022). The Coca-Cola Company. https://www.coca-colacompany.com/
Pak, A., Adegeboye, O.A., Adekunle, A.L., Rahman, K.M., McBryde, E. & Eisen, D.P. (2020). Economic Consequences of the COVID-19 Outbreak: the Need for Epidemic Preparedness. https://www.frontiersin.org/articles/10.3389/fpubh.2020.00241/full
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