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Management Theory and Practices - Assignment

   

Added on  2020-04-01

12 Pages1985 Words196 Views
Running head: MANAGEMENT THEORY AND PRACTICESManagement Theory and PracticesName of the StudentName of the UniversityAuthor Note

1MANAGEMENT THEORY AND PRACTICESIntroductionThe purpose of CSR is to promote the corporate social responsibility towards the societyand the environment as imposed by large multinational organization to have an edge over othercompetitors in the market. The strategies used by Coca Cola in marketing their product are alsodescribed.Large organization has the obligation to act and serve both the interest of thestakeholders which represents the society at large as well the organization. “Coca cola being aglobal brand has sold its productin allpartsof theworld. Coca Cola founded in the CountryDelaware”. It has its headquartered inAtlanta.The only evident thing in the World is change, therefore in order to sustain in the marketthe company must change and bring about innovation in the product quality and quantity,packaging, advertising. It is the new strategies, which supports the company to sustain in themarket.Coca Cola to build their trusted, quality brands, which serve the people. The MNC Cocacola makes a way forward by focusing on various business strategies, and many moresustainability program me and concepts in influencing sustainability practices in Coca cola basedon convenience and the choice, which the customers make in the market. The essential elements of Corporate Social Responsibility is how the company is able topromote the welfare of the organization and how the organization is able to take initiative for thesociety and the environment and promote its product and the organization. This strategy canenable selling the product at a reasonable price to attract the consumers towards their brand(Ang’wech, 2012).

2MANAGEMENT THEORY AND PRACTICESCorporate Social responsibility practices for Coca ColaSustainable development means “Our goal is to use our Company’s assets — our brands,financial strength, unrivalled distribution system, global reach, and the talent and strongcommitment of our management and associates — to become more competitive and to accelerategrowth in a manner that creates value for our shareowners.” The CSR report is to focus on thecompany’s stakeholders need and to improve the social and the economic sustainability of thecustomers. Coca cola follows a CSR approach and principles in helping the stakeholders toimprove (Armstrong et al ,2015). The company has the philanthropic benefits and improved social capital for the intangiblebenefits and for the improvement of the brand awareness that will ultimately translate all thebusiness profits although it is not the CSR goals. The CSR cost is taken by the company toprovide charity and philanthropic purpose. The company’s belief and the company take initiativeto have a position in the market place or workplace, community, and environment. Management and Organizational theories1.Type of segmentation

3MANAGEMENT THEORY AND PRACTICESFigure 1: Pattern of SegmentationSource: (Benn, Dunphy & Griffiths, 2014)While for the demographic variables Companies focus on factors such as income,education, and marital status , and the gender, age, and stages of life thereby the company is ableto analyze how the consumers influence purchase decisions. In order to determine psychographic segmentation, Coca Cola targets people based ongeneral brand consciousness (Berthon et al,2012). They offer products to all age groups. So forevery member of a family Coca Cola has its varieties.2.SWOT AnalysisSWOT Analysis means to analyze the strength, weakness, opportunities and threatspotent to the company.

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