Assignment 2 - Individual Essay - Company Analysis

Subject Code BUSM 4692

Subject Name Managing International Business

Responsibly
Lecturer Mrs. Hoa Huynh

Class Group Number Group 1

Student Name Kha Le Thi Thanh Tam

Student Number S3878220

Word Count 2750

I declare that in submitting all work for this assessment I have read, understood and agree to the
content and expectations of the Assessment declaration (Links to an external site.).

Corporate Social Responsibility work analysis of Coca-Cola

I. Introduction

Urgent global issues and the increasing demand of different stakeholders in contemporary
international business require international enterprises not only to concentrate on gaining profits
for their benefits but also to take responsibility for other stakeholders’ interests. Therefore,
Corporate Social Responsibility (CSR) becomes an indispensable factor in business strategies to
provide practical advantages for both corporations and societies (Ksiezak 2016). Proper
implementation of CSR strategy would help companies acquire competitive advantages and
achieve long-run sustainability (Michel and Buler 2016, pp.502-504). Perceiving the significance
of CSR in business, Coca-Cola – one of the world’s leading beverage companies has put CSR at
heart of its operation. This paper will analyze Coca-Cola’s CSR activities and identify the reason
for these practices, then evaluate its CSR activities; besides, some recommendations will be
provided to strengthen its CSR work to gain more trust of stakeholders in the future.

II. Critical Evaluation

To critically evaluate the CSR performance of an international business, it is crucial to

investigate how a firm addresses the Triple Bottom Line (TBL), which includes three
components of a sustainable business: economic, social, and environmental (Correia 2019). A
business has both positive and negative sides; therefore, only evaluating the positive aspects of
the firm’s CSR approach from the company’s perspective is not sufficient, other stakeholders’
perspectives must be considered to identify the shortcomings in the company’s CSR strategy. In
other words, people must evaluate what the corporation has done that still does not fulfill its
responsibilities to other stakeholders or does not meet the TBL framework. For the critical
evaluation, Carroll’s Pyramid of CSR will be applied to evaluate Coca-Cola’s CSR activities on
the economic, legal, ethical, and philanthropic responsibilities. Also, Coca-Cola’s CSR
performance will be evaluated based on stakeholder theory to analyze how Coca-Cola met the
interests of its customers, employees, and communities. Consequently, besides the good
performance of Coca-Cola, the shortcomings in the company’s CSR work will be identified.

III. Coca-Cola Overview

Coca-Cola is a multinational beverage company which was founded in 1886 and headquartered
in Georgia, United States. In the 1920s, Coca-Cola expanded its business globally and became an
international corporation (The Coca-Cola Company n.d). Nowadays, Coca-Cola is one of the
world’s largest and most well-known non-alcoholic drinks corporations that distributes and sells
its products in over 200 nations and territories and has more than 700,000 employees worldwide
(The Coca-Cola Company n.d).

IV. Analysis

a) Environment

Environmental protection activities play an essential role in the business’ operation as it helps the
company attain sustainable development and competitive advantages that lead to the success of
the firm (Stojanović et al. 2018). As a large-scale company and having a significant impact on
the environment, Coca-Cola is expected to take actions to minimize its adverse environmental
effect. Perceiving the advantages and great responsibility to the environment, Coca-Cola has
launched various environmental projects. Having been criticized for polluting and over-
extracting ground water in India (Torres et al. 2012, pp.54-55), Coca-Cola set goals to enhance
the efficiency of utilizing water and purify all wastewater throughout the manufacturing process.
In 2020, the amount of water needed in 1L of final product decreased by 19% compared to 2010,
and 170% of water utilized in the manufacture was replenished in nature. Coca-Cola also
launched water stewardship projects in water-stressed regions such as India and Africa to
preserve water source (The Coca-Cola Company 2020). Furthermore, as the world is adversely
affected by plastic pollution, especially single-use plastic (UNEP n.d), Coca-Cola is switching to
a circular economy. Through World Without Waste program, Coca-Cola has attempted to
generate more sustainable packaging by using recyclable material namely PET and diminishing
the use of virgin plastic to minimize greenhouse gas emissions. However, until now only three
markets have used 100% rPET for their whole plastic packaging range. Coca-Cola has formed a
partnership with numerous NGOs, local governments, and industry peers to collect and recycle
plastic packaging waste. Coca-Cola also reached its goal of lessening 25% of its carbon footprint
by 2020 and is ambitiously aiming for net-zero emissions by 2050; moreover, Coca-Cola is in
process of switching to renewable energy in its manufacturing process (The Coca-Cola Company
2020). These actions may contribute to the long-term sustainable development of the company as
well as having a positive impact on the environment.

b) Customers and Communities

Customers have been increasingly concerned about their health and they tend to choose low-
sugar products (Mascaraque 2021); besides, WHO recommends that the ideal total calories
intake from free sugar for each person is less than 10% (WHO n.d). Recognizing this
recommendation and customer demand, Coca-Cola diminished the quantity of sugar in its
beverages, promoted low- and no-calories options, and created smaller-size Coca-Cola cans to
make it easier for consumers to manage their sugar intake. Coca-Cola also introduced new
products with added vitamins and other essential nutrients for their customer’s healthy
development (The Coca-Cola Company2020).
Communities provide opportunities for businesses to grow and thrive; in turn, companies must
develop community values via social accountability and ethical behavior (Freeman et al. 2017).
Therefore, Coca-Cola has made numerous charitable activities and donations for the societies.
The firm donated $139.1 million to numerous organizations throughout the world in 2020 to
support various issues such as the COVID-19 pandemic, countries devasted by natural disasters,
social justice, and so forth. Moreover, through the 5by20 initiative, Coca-Cola collaborated with
governments and community leaders to assist more than 60 million women and their businesses
by offering business skills, financial and mentorship services. Additionally, for over a decade,
more than 6 million people in 41 African countries can access safe water and enhance
sanitization and hygiene under Replenish Africa Initiative (RAIN) program, RAIN also supplied
clean water, sanitary facilities and hygiene education to over 1,200 schools (The Coca-Cola
Company 2020).

c) Workplace

Employees are the primary stakeholders of the business (Freeman et al. 2017, pp.113) since their
activities have a direct impact on the company’s performance and profitability (Vosloban 2012).
Employees always expect to work in a company that has safe workplace, fair wages, and career
development (Turoń 2016, pp.39-41), therefore, Coca-Cola implemented Human Rights Policy
and Supplier Guiding Principles to guarantee the safety, equality, and supportiveness in the
working environment for its employees. Particularly, with a purpose to eliminate racism in the
workplace, Coca-Cola enhances employee diversity which includes Asian, Hispanic, Black, and
other ethnicities in America (The Coca-Cola Company 2020) since they are victims of racism in
the US (Horowitz et al. 2019). Additionally, to improve gender diversity, the company was 42%
led by women worldwide in 2020 and aims to increase this percentage to 50% by 2030. Coca-
Cola also ensures its employees are paid equitably regardless of gender and ethnicity (The Coca-
Cola Company 2020). Apart from employees working in the company, farmers and workers in
the supply chains also benefit from Human and Workplace Rights such as safe workplace,
appropriate working hours and salary as well as the elimination of discrimination, child labor and
forced labor (The Coca-Cola Company 2021). Moreover, through Operating Requirements, Life
Saving Rules, and the digital platform (EOSH), the company can easily ensure employee safety
and avoid severe injuries at the workplace (The Coca-Cola Company 2020).

V. Evaluation

a) Carroll’s Pyramid

Carroll’s Pyramid of CSR will be used to evaluate the CSR implementation of Coca-Cola. The
Carroll’s CSR Pyramid comprises four elements which are economic responsibilities, legal
responsibilities, ethical responsibilities, and philanthropic responsibilities that society expects an
organization to fulfill (Carroll 2016).
Economic responsibilities play a crucial and fundamental role in a business’s operation that
every company needs to survive and thrive by generating profits (Carroll 2016). Therefore, in the
absence of economic responsibilities, other components of CSR may not be taken into
consideration since they rely on economic component (Carroll 1991). Despite the detrimental
impact of Covid-19 pandemic, Coca-Cola performed well in making positive profit with a net
income of $7.7 billion in 2020(The Coca-Cola Company 2020) and Coca-Cola still met the
economic responsibilities to its stakeholders. Particularly, the employees are paid equally and
sufficiently; additionally, the firm also paid down its debt and was able to make long-term
investments (The Coca-Cola Company 2020). Moreover, as mentioned above, Coca-Cola has
changed to circular economy and according to Cavallo (2018, pp.7-11), circular economy will
help businesses utilize the raw materials more efficiently, therefore, the companies can increase
the saving cost of raw materials used in manufacturing and the production costs as well.
Furthermore, a company with circular economy will gain competitive advantages over its rivals
since customers would prefer to purchase products from companies that have positive impact on
the environment (Cavallo 2018, pp.7-11). As a result, by following circular economy, Coca-Cola
can enhance its revenue and be profitable in the long run.

As for legal responsibilities, businesses must abide by the laws and regulations of the country in
which they operate, hence, when attempting to maximize profit, a corporation must do it in
compliance with legal standards (Carroll 2016). Through Code of Business Conduct, Coca-Cola
requires not only employees in the company, but also bottling partners, suppliers to comply with
the laws and regulations of each country where they are operating (The Coca-Cola Company
n.d). Coca-Cola has conducted numerous audits at its company, system bottlers, suppliers to
ensure they comply with human rights regulations and eradicate illegal issues such as child labor,
forced labor, labor abuses, deforestation, illegal harvesting and so forth (The Coca-Cola
Company 2021). However, Coca-Cola Vietnam avoided paying tax and it finally had to pay
$35.4 million included back taxes and penalties for overdue payment (Nguyen and Le 2020).
Except for tax evasion in Vietnam, Coca-Cola has fulfilled its legal responsibilities.

To perform well in the CSR work, only complying with the legal rules while operating is not
enough, the companies should conduct ethically as what the society expects although it is not
required by laws (Carroll 2016). As mentioned above, Coca-Cola partners with peer companies,
local governments, NGOs to ensure employees, farmers, and people in the community access to
gender equality, racial equity to prevent racism and discrimination. Additionally, Coca-Cola has
implemented various ethical programs to protect biodiversity, preserve water resources and soil.
Also, the company has switched to circular economy to decrease plastic waste, therefore,
mitigate the detrimental environmental effect. However, despite two years of implementing the
World Without Waste program, Coca-Cola has not made any contribution to environmental
protection. Two NGOs are Greenpeace and Earth Island Institute criticized Coca-Cola for being
the leading plastic polluter in the world since the enormous number of plastic wastes found in 51
countries was Coca-Cola branded, furthermore, Coca-Cola also partners with the fossil fuel
industry to produce plastics which leads to considerable carbon emissions (Flaharty 2021; Earth
Island n.d). Those actions of Coca-Cola imply that the company did not show its endeavor in
reducing plastic pollution as it has claimed before.

The final section of Carroll’s CSR Pyramid is philanthropic responsibilities which is related to
the enterprise’s voluntary activities such as charitable activities, donations that ameliorate the
community’s standard of living (Carroll 1991). What distinguishes philanthropic from ethical
responsibilities is that when the companies do not donate money, food to charities, society does
not view those enterprises as unethical (Grigore 2010, pp.171-172). As mentioned before, in
2020, $139.1 million in The Coca-Cola Foundation was contributed to the communities to
support COVID-19 pandemic relief activities, countries suffered from natural disasters,
education and youth development, social justice, improving lives and water access in water-
stressed regions, helping women with their small businesses. As a result, Coca-Cola has built a
good reputation from its good performance in philanthropic responsibilities.

b) Stakeholder Theory

According to Freeman (1984), stakeholders are defined as individuals or groups of people who
can influence or be influenced by the accomplishment of a business’s objectives. The value and
performance of a business can be evaluated through the company’s activities that meet the
satisfaction of different stakeholders (Freeman 1984). Therefore, the success of a business’s CSR
work depends on the involvement of stakeholders (Nikolova and Arsić 2017, pp.30-31), hence
stakeholder theory is used to evaluate the companies on their CSR performance (Yoon and
Chung 2018).

Employees

Coca-Cola has set many regulations and operating requirements to provide a safe and supportive
working environment for all employees. The company also ensures its employees receive fair
payment regardless of their gender, ethnicity. Moreover, Coca-Cola made a commitment to
enhancing workplace diversity and abolishing forced labor and child labor. Additionally, to boost
employee motivation, Coca-Cola offers rewards, annual incentives, merit pay to their workers;
the company also gives employees the opportunity to improve and develop work knowledge,
abilities through training and education (The Coca-Cola Company n.d). Obviously, these
practices satisfy the employee’s expectations in terms of safe workplace, fair wages, career
advancement that helps the enterprise in lowering the turnover rate and increasing productivity
(Vetrivel 2015).

Customers
As customers are Coca-Cola’s primary stakeholder (Freeman et al. 2017), Coca-Cola always puts
customers at heart of its strategy. The company provides high-quality products at reasonable
prices for its consumers. Coca-Cola also innovates its products to be safer by changing its drinks
to less sugar, calories and creating more nutritional beverages to respond to the criticism,
keeping up with customers’ evolving demands and showing its responsibility to consumers’
health. Moreover, during COVID-19 lockdowns, Coca-Cola provided e-delivery service for
customers that allows them to purchase via an online platform without close contact with the
sellers to minimize the spread of viruses (The Coca-Cola Company 2020). Generally, Coca-Cola
successfully improves customer satisfaction that can lead to a high customer retention rate,
repurchase intention, hence good financial health (Williams and Naumann 2011).

Communities

Coca-Cola has operated ethically towards communities and partners with other organizations to
enhance social welfare through many charity projects, donations that support people in water-
scarce countries; helping communities suffering from disasters, COVID-19 pandemic;
eliminating racism; launching scholarship programs for high school students (Coca-Cola
Scholars Foundation n.d). However, despite the commitment to reduce plastic waste, Coca-Cola
still has a negative impact on the environment as Coca-Cola was accused of being the most
plastic polluter worldwide (McVeigh 2020), plastic pollution shows no sign of abating,
especially in developing countries where waste might be mishandled due to a lack of access to
collections (Laville 2020).

Overall, Coca-Cola has followed a contemporary CSR because in addition to philanthropic

activities such as charities and donations, the company was able to generate economic benefits
and create shared value for society simultaneously (Afrin 2013). Coca-Cola also addressed the
interests of different stakeholders. However, Coca-Cola has not met society’s expectations on the
environmental responsibility of minimizing plastic pollution yet.

VI. Recommendations

Although Coca-Cola has done well in its CSR activities, there are some problems that Coca-Cola
is still facing which are related to tax evasion and the adverse impact of plastic pollution on the
environment.

There are some solutions for Coca-Cola to prevent tax evasion in its subsidiaries. Firstly, it is
important to provide training courses for the employees to ensure they understand tax evasion
rules clearly as well as the violation of the law in different countries that they are operating.
Secondly, Coca-Cola should carry out tax audits annually in all subsidiaries to detect and prevent
tax evasion, additionally, all employees should be encouraged to report when they find or suspect
tax evasion.
As mentioned above, Coca-Cola is criticized for not endeavoring to minimize its plastic waste as
the company has claimed. To solve this problem, Coca-Cola should collaborate with
governments, NGOs to increase bottle collection, especially in developing countries where
people suffer from plastic pollution the most. The company could launch plastic bottle collection
campaigns that help increase the recycling rate to reduce a significant amount of plastic waste.
Moreover, Coca-Cola should support deposit refund schemes (DRS) globally instead of opposing
them (Plastic Soup Foundation 2021). DRS is a system that charges consumers a small price on
every plastic bottle they purchase, and the money will be refunded to customers when the bottles
are returned to the recycling system (OECD n.d). Therefore, Coca-Cola will be able to boost
waste collection, minimize environmental pollution, and promote recycling.

VII. Conclusion

In conclusion, through the analysis and evaluation part, it can be concluded that Coca-Cola had
good CSR practices which help the company perform well in economic, legal, philanthropic
responsibilities and achieve many objectives. Furthermore, Coca-Cola generated the best value
for its employees, customers, communities and fulfilled the interests of different stakeholders.
However, Coca-Cola is still facing some problems mainly related to plastic pollution, Coca-Cola
will rebuild its reputation if the company solves the plastic waste pollution quickly by enhancing
collection and recycling in developing countries.

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