Role of firms to the society
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Role of firms to the society
Business owners are always pressured to redefine their business role in the society
They must develop strategies of increasing skeptical public
Businesses are obligated to invest in protecting the environment
The business should also invest in its employees and deal fairly and ethically with suppliers
The focus and purpose of an organization should no longer advance only on shareholders interest. there should be in initiatives of reducing economic and social constraints
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Social and environmental issues
Beverage organizations such as Coca-Cola are the leading ocean pollutants in the world
They have led to ocean chemistry currents and rise in temperatures
Their operations have negatively affected the society since they are affecting the climate and complexity of ecosystems
Plastic pollution has received much attention in the recent years due to human pollution
Effects of pollution to organization financial status
Pollution affects labor productivity of employees and thus leads to production of less products
Areas surrounded with pollutants tends to have less people dwelling
Lack of people in such areas implies that there are less customers and thus affecting the company’s balance sheet
The organization may also fail to get access of skilled and quality employees during to health awareness
Employees may fail to accept contracts related to pollutants organizations due to health awareness. The company will thus produce less quality goods that will not be acceptable in the market
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How Coca-Cola is handling the environmental issue
The company has initiated several projects to ensure execution of environmental responsibility to the society
Their bottles are designed to be remade to reduce the amount of plastic
The company I participating in projects of ocean cleaning and removal of marine debris
The has encouraged its citizens to not end up their brand waste products in oceans and waterways
The company is financially supporting projects of cleaning and reducing waste products. It has also attempted to implement reusable packages to minimize littering
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references
Rasche, A. N. D. R. E. A. S., Morsing, M. E. T. T. E., Moon, J. E. R. E. M. Y., & Moon, J. (2017). The changing role of business in global society: CSR and beyond. Corporate social responsibility: Strategy, communication, governance, 1-30.
Almatrooshi, S., Hussain, M., Ajmal, M., & Tehsin, M. (2018). Role of public policies in promoting CSR: empirical evidence from business and civil society of UAE. Corporate Governance: The International Journal of Business in Society.