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The Business World Analysis In Terms Of Social Responsibility And Their Attitude Towards Society’s Resources

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INTRODUCTION

In recent years, people have become more concerned about a healthy lifestyle. They are becoming very aware regarding the nutritional contents and quality of food they consume and so, trust only those companies that strongly follow food and industry standards and prioritize health and personal well-being of its customers. As a result, the business world is modernizing and becoming competitive. Most of the companies have shifted their focus from being just a profit-earning firm to a customer-driven firm as well. They are heavily relying on consumer sovereignty to succeed.

PepsiCo, Inc. is one of them. According to pepsico.com (n.d.), the company has its root back in 1890. It is a global food and beverage industry, which was formed with the merger of Pepsi-Cola and Frito-Lay, which were established in 1890 and 1931 respectively. The corporation has six divisions across the globe. Its range of products includes 22 brands known and sold throughout the world including Pepsi, Lays, Tropicana, Quaker and Gatorade. Headquartered in Purchase, New York, United States; the company is run under the guidance of CEO Indra Nooyi.

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PURPOSE

The purpose of the report is to analyze the business world, especially the food and beverage industries, in terms of social responsibility and their attitude towards society’s resources. More specifically, it examines the corporate leaders like PepsiCo Inc., Tim Hortons, Starbucks Corp., Danone, and Kellogg Co. Along with that, examining what impact does their social responsibility initiatives lay on their organization in return in terms of growth and development. Also researching whether it helped them get any special recognition or had any effect on companies’ financial performance and finally, analyzing whether it is an effective marketing tool or not.

SOURCES AND METHODS

This research has been conducted using resources such as college databases and companies’ websites.

SOCIAL RESPONSIBILITY INITIATIVES

Every company frames its strategies to succeed in the market. Along with profit maximization and customer satisfaction, sustainability has emerged as an important objective. Following are some of the corporations that truly defines sustainability with their impactful campaigns:

PepsiCo Inc.

The company that focusses on “performance with purpose” is laying a positive impact on the society by focusing on many aspects. Starting with manufacturing units, the company recycles 75% of the water used at its Columbian plants and has cut down water usage by 40% in Canada. Not only this, PepsiCo became the first company to introduce green-powered delivery trucks in Canada (Symth, 2015). According to Maclean’s, it also launched 7UP Ecogreen bottle that is made from 100% recycled plastic (“Food and beverage,” 2012)

Tim Hortons

The fast food chain initiated a cups-to-tray program in many of its restaurants at Nova Scotia, New Brunswick, New Foundland and B.C., which turns recycled cups into takeout trays. Besides this, it collaborated with many coffee farmers in Brazil, Columbia, etc. to encourage organic coffee production (“Food and beverage,” 2012).

Danone

The France based global food chain is driven with the objective of “One Planet. One Health.” It has been serving the community in many different ways. According to danone.ca (n.d.), it finances the Breakfast club of Canada, a charitable organization that has been in operation for more than 20 years. that provides many Canadian children with a healthy breakfast. To accomplish this goal, Danone has donated more than 20 million yogurts to the club. Moreover, it started world’s biggest soccer tournament called Danone Nations Cup in 1966 opening many possibilities for Canadian children to compete at the world level and make themselves and their country proud.

SPECIAL OR GLOBAL RECOGNITION

As per Canning (2018), Danone became North America’s largest certified B Corporation in the world. B certification is granted only to those companies, which meets all industrial, food and environmental standards.

According to Maggie, McGrath (2018), PepsiCo was featured in 2018 Forbes Global 2000 bagging 3rd position in the list of world’s most powerful public companies in terms of market value, profit, revenue, and assets.

CONCLUSION

With the business world transforming so rapidly due to customer’s taste and preferences, social responsibility should be one of the most important goal companies should focus on. Companies use up society’s resources, so customers want them to serve the community and society in return. This not only helps in fulfilling that social responsibility but also gain customers’ confidence. For example, it helped Danone gain B corporation certification and join other certified B globally.

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