Contemporary Developments in Business and Management: Vitasoy Report

This management report provides an in-depth analysis of Vitasoy Corporation, focusing on its external environment, corporate social responsibility (CSR) practices, and ethical considerations. The report begins with an executive summary and table of contents, followed by a PESTEL analysis of Vitas...Read More

Running head: MANAGEMENT
Management
Name of the Student
Name of the University
Author note

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Executive Summary
The report has thrown light on analysing the external environmental analysis of Vitasoy
Corporation which helps in analysing the overall applicability and issues faced by the
company in the market of Hing Kong. Furthermore, the different corporate social
responsibility practices have been analyzed which helped in identifying the various kinds of
approaches which have been adopted by the company in order to improve the overall scenario
effectively. Additionally, it has been noticed that the company is looking forward by
encouraging the progress and there has been inclusion of the sustainability related practices
which will be beneficial for the overall growth of the firm.

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Table of Contents
Task 1.........................................................................................................................................2
PESTEL Analysis of Vitasoy Beverage Company................................................................2
Task 2.........................................................................................................................................9
Ethics and Corporate Social Responsibility...........................................................................9
Introduction............................................................................................................................9
Analysis of Relevance of Ethics and Corporate Social Responsibility..................................9
Implication of CSR and Ethics on Policies and Decision-Making Approach.....................13
Evaluation of Effectiveness of Response towards CSR Practices by Vitasoy.....................15
Demonstration of Areas of Effectiveness in CSR Activities...............................................18
Recommendations................................................................................................................20
Conclusion............................................................................................................................22
References................................................................................................................................23

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Task 1
PESTEL Analysis of Vitasoy Beverage Company
1) Political Environment
The governments are the external factors which create huge influence and impose the
overall requirements on Vitasoy Beverage Company. It has been seen that the tax related
policy is easy and convenient which leads to political stability in the overall economy. The
major opportunity gained by the Vitasoy is that there is inclusion of presentation of the
growth opportunities (Anton 2015). There are different regulations on food safety regulations
such as Food and Drugs Regulations and Frozen Confections Regulations which are followed
by the company to improve the intergovernmental cooperation.
Figure 1: Political Aspects of Hong Kong and Australia
(Source: Brammer and Pavelin 2016)

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Additionally, the trend of intergovernmental expansion has been able to foster stable
business environment and it helped in increasing the international cooperation in the different
areas. Moreover, there is high transparency in the political system and aspects of the country
which assists Vitasoy in increasing profitability in the competitive business environment. It
has led to increase the business opportunities and lower risks for Vitasoy in performing the
business (Cha, Yi and Bagozzi 2016).
2) Economic Environment
The performance of Vitasoy is directly linked to the economy wherein the company
have various opportunities for growth along with expansion which is based on the overall
economic stability of the developed countries such as Singapore (Chaudhri 2016). The
economic stability is one of the major opportunities as the tax rate of the country is
progressive in nature which contributes to 16.5% as Hong Kong and Australia follows
territorial principle of taxation as the individuals are being taxed when the income is earned
at Hong Kong and Australia.
Figure 2: Tax Rate of Hong Kong and Australia
(Source: Chen et al. 2016)

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Due to the low rate of inflation in the market in Hong Kong and Australia, it helps in
improving the economic performance of the economy such as it increased the investment. It
helped in providing a climate which is stable and more favorable and it includes the sustained
economic growth of the economy as well (Chen et al. 2016).
Figure 3: Inflation Rate of Hong Kong and Australia
(Source: Chen et al. 2016)
3) Socio Environment
In the present era, the higher health consciousness is the major threat to Vitasoy
Company as there are different concerns relating to content of salt, sugar and other fat related
contents in the products which are sold by the company. However, the respective social factor
can be taken into consideration to improve the different products and services sold by them to
address the respective concerns (Cheung 2016). Furthermore, Vitasoy can take advantage of
the busy lifestyles of the consumers around the entire world as they prefer the ready to cook
food items and health drinks which will be one of the major opportunities for the company.

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Figure 4: Birth Rate in Singapore
(Source: Crowther and Seifi 2018)
Additionally, the organization has the opportunity as to continue in enhancing the
quality of the product and maximizing the revenues of the company which will be
increasingly discriminating the attitudes about the quality of the products among the
customers. In the economy of Singapore, the individuals prefer simple lifestyle and health is
the utmost priority of the customers (de Jong and van der Meer 2017). Vitasoy needs to
introduce beverages which will be healthy as it will be helpful in gaining stronger customer
base in the competitive business environment. There can be carbonated fruit juices which will
be helpful in targeting the school and college students which will be helpful for aligning the
different products and services to change their marketing strategies to change in the consumer
behavior.
4) Technological Environment
The business of Vitasoy is partly dependent on the technological aspects in which it
has been noticed that based on moderate research and development investments in the
industry, the company Vitasoy can boost the own research and development activities as it

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will improve the competency of the business project (Edinger-Schons et al. 2018). The
increasing automation in the business is the other aspect which can be helpful in enhancing
the business performance. The improvement in the knowledge management systems can be
treated as the opportunity for including innovation in the different activities which will be
appropriate for improving the competitiveness of the business in an effective manner
(Edinger-Schons et al. 2018).
Figure 5: Technological Aspects in Singapore
(Source: Edinger-Schons et al. 2018)
Additionally, Vitasoy has adopted the social media technology as to connect with the
audiences and it helped the company in increasing the sales of the company appropriately.
There is different introduction of the new faces for the brand promotion which is appropriate
for them in handling the overall operations successfully. From the diagram, it can be
identified that more than 55% of the population is using the mobile devices which will be

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helpful in improving the overall appropriateness of the firm (Fifka, Kühn and Stiglbauer
2018).
5) Legal Environment
The compliance has become an integral part of the business all around the world and
especially for the ones which are operating in the international environment. Vitasoy
Beverage Company is trying to retain all the rights which are related to the business and it
has been developed with patented process (Flammer 2015). The moderate rate of the different
regulatory changes has provided with opportunity for Vitasoy to grow with the overall
expectation that the current strategic decisions will be helpful in satisfying the different needs
of the customers. Lastly, the company can improve the different products and services as to
address the different regulations regarding the safety of the product along with health effects
as well.
Figure 6: Legal Aspects of Vitasoy

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(Source: Grayson and Hodges 2017)
6) Eco-Environment
The different customers in the competitive business environment which helps in
improving the sustainability standing. Vitasoy can improve their waste disposal strategies
such as recycling as to gain more support from the customers. On the contrary, the change in
climate poses a threat to the supply chain of Vitasoy, however the organization can diversify
the global supply chain as to minimize the exposure of risk to the change in the climate. From
the above analysis, it can be identified that the supply chain of the company can be used as to
attract and retain more customers in the market (Ioannou and Serafeim 2015).
Figure 7: Environmental Aspect in Hong Kong and Australia
(Source: Jamali, El Dirani and Harwood 2015)

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Task 2
Ethics and Corporate Social Responsibility
Introduction
As commented by Jiang and Wong (2016), the Corporate Social Responsibility and
Ethics is a self-regulating business model which is helpful for the companies to be socially
responsible such as for themselves, stakeholders and the public. It is the broad concept which
can take any forms that depends on the industry and company. Additionally, Kiełkowska et
al. (2018), have opined that with the help of the different CSR programs along with volunteer
effects, the business can benefit the society while boosting the own brands. The activities
related to CSR will be helpful in forging the stronger type of bond between the corporation
and employees. It is assisting in improving the morale of the employees and employers and
they feel connected with the world thereafter.
In case of Vitasoy Beverage Company, proper analysis is required to be done which
will be helpful in understanding the overall influence of the same on policies and procedures
along with decision-making within Vitasoy which is the beverage organization. Furthermore,
there should be critical analysis of evaluating the effectiveness of the response of the
organization towards the different practices of corporate social responsibility (Kiliç, Kuzey
and Uyar 2015). Lastly, there should be inclusion of the recommendations which is required
to be demonstrated in response to the organization.
Analysis of Relevance of Ethics and Corporate Social Responsibility
As commented by Kim et al. (2017), in the present scenario the world’s population of
growth and the food system in the present scenario is complex which continue to pose
challenges to the environment along with sustainable supply and production of the food.

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Vitasoy is seeing an increase in the wealth and demand for wellness in the markets wherein
the company is operating. There are different challenges related to health which are
associated with sedentary lifestyles which are becoming more prevalent with the rising risks
from obesity, hypertension along with other heart diseases.
As to become one of the keys along with innovative player in the food and beverage
industry, Vitasoy rises to the respective kinds of challenges through proper sustainability
vision wherein they tried to make the right products which are nutritious, tasty along with
plant based food items that will be compatible with the healthy life style of the community
and making the products in the right manner with the help of prioritising the efficient
resources consumption while minimizing the environmental impact effectively (Lim and
Greenwood 2017). Vitasoy aims in maintaining the leadership approach in promoting the
superior quality of the life with the help of proper production of great tasting and high-quality
nutritious products which will be helpful in satisfying the different customers in the markets.
In order to become effective in the performing the different operations, it is essential
in nature to make the different resources compatible which will be essential in managing the
different lifestyle of the different individuals through managing the overall compatibility of
the lifestyle of the individuals in the competitive business environment appropriately. In
order to address the different challenges and guide the overall sustainability aspects of the
organization, the company has tried to establish Two-Pronged Framework as to better
integrate sustainability with nature of the business and it will be helpful in enabling the
company to set the different targets which will be helpful in ensuring that the nature of the
business and which will be suitable for the sustainable growth of the company (Lins, Servaes
and Tamayo 2017).

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In order to promote a healthy lifestyle among the different individuals while providing
diverse types of choices to the customers, it is essential in nature for the organization to be
dedicated as to build portfolio of the plant-based products which will be suitable for meeting
the different choices of the customers in the market. After the implementation of the different
CSR based programs, Vitasoy has been able to improve their public image wherein the
company is trying to demonstrate their commitment towards various causes of making the
environment sustainable and managing the different needs of the customers as well (Moon
and Knudsen 2018).
As to promote a healthy lifestyle among the different individuals, the company is
trying to promote healthy lifestyle and providing diverse choices to the customers in the
market as well. the company is dedicated towards the building of portfolio of the plant-based
products and the company have found new ways to enhance the content of nutrition content
across the different products and they are trying to reduce the sugar and fat related content
without compromising taste of the different food items which are being consumed by the
individuals (Nurmi and Niemelä 2018).
As the part of the total food offering by the company to the customers, the packaging
is one of the main focus areas wherein the company strives to reduce the environmental
footprint. The company Vitasoy tries to provide the different information regarding
packaging which helps the customers to make the choices for the healthy type of lifestyle.
Proper providing of the safe along with high quality food items are the major aspects which
will be helpful in managing and minimizing the overall impacts of the manufacturing on the
environment which will be beneficial for the smooth carrying out of the CSR related
activities for the welfare of the overall economy (Vitasoy.com 2019). The making of the
products in the right manner is one of the major approaches which has been done with the

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help of the management of the waste, water consumption and energy are of the utmost
importance as to become responsible food and beverage manufacturer.
Figure 1: Corporate Social Responsibility of Vitasoy
(Source: Petrenko et al. 2016)
From the CSR framework of the organization, it can be identified that the company is
trying to build strong relationship with the different employees along with the communities
by offering them business and working opportunities in the local area along with passing on
the different skills and knowledge which are required. The respective framework provides a
proper base on pursuing and identifying the focus area along with determining the goals and
KPIs which will be driving the sustainability efforts of Vitasoy (Schrempf-Stirling, Palazzo
and Phillips 2016). The company has positioned themselves in a favourable position as to
make different contributions which are aligned to the sustainable development goals of
United Nation such as Zero Hunger, Good well-being and health of the individuals which
will be helpful in addressing the global sustainability issues.

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Implication of CSR and Ethics on Policies and Decision-Making Approach
The corporate social responsibility aspect which is being followed by Vitasoy has
helped in managing the different policies along with in the approach related to the decision-
making as well. Under the leadership of the board, the management team of Vitasoy has tried
to develop strategy related to sustainability and the company is working towards the
sustainability strategies which helps in managing the different activities in the organization
appropriately (Schuetz and Schrefl 2017). Through the different programs of the corporate
social responsibility, the company has been able to attract and retain the different investors
who are pouring money in the organization.
Vitasoy have introduced the sustainable nutrition portfolio in which the plant-based
beverages have tried to offer sustainable nutrition to the different customers and the company
has been kept on innovating the different aspects as to develop nutritious yet delicious
products wherein the environment is the major factor which is considered (Schuetz, Mair and
Schrefl 2018). The innovation strategy which has been applied by Vitasoy is driven towards
the commitment as to produce the different products which are compatible with providing
healthy lifestyle to the individuals. The corporate social responsibility practices have been
able to improve the policies such as they have aligned themselves with World Health
Organization nutrition that recommends that healthy lifestyle is the major concern which
helps in reducing the fat, salt and sugar intake among the customers as well (Song, Sun and
Jin 2017).

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Figure 2: Products of Vitasoy
(Source: Story and Neves 2015)
In the financial year 2016-2017, Vitasoy have been able to perform well against the
different goals which are set in the previous year. The company is continuing to explore the
different opportunities as to utilize the natural resources and healthy ingredients as to
improve the nutritional benefits of the beverages which are sold by them (Supanti, Butcher
and Fredline 2015). There are different studies which have forecasted and shown that due to
the high proportion of the vegetables and other whole grains and legumes helps in lowering
the risk of the different chronic diseases such as heart disease, hypertension and certain kinds
of cancer and other obesity related diseases. As to contribute towards the health and safety of
the individuals, it is essential for Vitasoy to expand the offerings of the product in the recent
years with new plant-based items.

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Figure 3: Product Offerings and Nutritious Value
(Source: Wang et al. 2016)
From the diagram, it can be analysed that the main KPI of the Vitasoy Company is to
increase the nutritious plant milk beverage offerings for the different customers as it will be
helpful improving the sustainability aspects of the company along with meeting the different
nutritious aspects of the food which is being provided to the customers and maintaining the
different kinds of offerings of the beverage in such a manner which will be helpful for
improving their sustainability practices in the competitive business environment (Werhane,
Freeman and Dmytriyev 2017).
Evaluation of Effectiveness of Response towards CSR Practices by Vitasoy
There is huge effectiveness of response towards the CSR practices by Vitasoy
wherein it has been seen that the company is dedicated and committed towards the supporting

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healthy lifestyle and the products are sustainably produced. The main aim of the company is
to increase the plant-based beverages along with nutritious plant milk along with low
moderate sugar and low level of fat related product offerings which will enhance the
offerings for the customers in the market effectively. As to further enhance the understanding
of the portfolio, the company have made label design on some of the key products which are
simpler and clearer. Meanwhile, Vitasoy is trying to foster nutritional knowledge and
education in the different communities in which they are operating through nourishing the
body and nourishing the mind programme (Werhane, Freeman and Dmytriyev 2017).
Additionally, the company is making different promises on the KPIs which is related
to environment along with natural resource conservation. With the environmental aspect, the
company has understood the role of the employer in the society by creating job opportunities.
There are different challenges which are being faced by the organization in maintaining
stable workforce and therefore considering the different challenges ahead, the main mission
of the company is to become increasingly relevant in the future (Supanti, Butcher and
Fredline 2015). The company is confident in their ability to deliver sustainable growth and
become bigger contributor to the communities wherein they serve.
The main and purpose of Vitasoy is to maintain the leadership aspect in promoting
superior quality of life through production of the high quality along with nutritious products
which will be helpful in satisfying the customers in the markets. At Vitasoy, the main aim of
the company is to promote the well-being of the customers as it is the number one priority
and it is achieved through provision of providing high quality nutritious foods along with
beverages to the customers (Wang et al. 2016). The company Vitasoy is innovative
organization, reliable type of employer and responsible creative corporate citizen which is
dedicated to create value for the different stakeholders in the market effectively.

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Figure 4: Vitasoy’s Core – Triangle of Nutrition, Taste and Sustainability
(Source: Wang et al. 2016)
From the diagram, it can be identified that in addition to having a sustainability
governance structure as to ensure the effective and efficient management of Vitasoy’s
sustainability, it can be identified that the company has undertaken the risk management
approach which will be beneficial in enhancing the sustainability related practices for the
company. The major risk which have been faced by Vitasoy is packaging related issues,
however there are few efforts which are being made by them in order to improve the situation
and improve their public image in the market as well.
As packaging is the main and key element in the present scenario, it has been
analyzed that Vitasoy needs to protect and preserve the delicate products under wide range of
the conditions from storage to transport along with shelf. The reduction of the environmental
footprint of the packaging continues as it is the focus area and it addresses the different

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lifecycle of packaging as well. In Singapore, Vitasoy has participated in different kinds of
health promotion programs and it helps the consumers to make the informed food choices.
Vitasoy has uncompromising quality standards which will be one of the effective measures
which will be helpful in managing the overall operations (Wang et al. 2016).
In addition to ensure that the high-quality standards which is committed towards the
protecting of the rights of the consumers along with the personal data, the company is
constantly in compliance with the relevant laws and legislations which will create huge
impact on the advertising, labelling and consumer privacy matters which will be helpful in
managing the consumer privacy related matters effectively (Vitasoy.com 2019). The crisis
management team of Vitasoy includes the different members from the related functions who
will be able to handle the urgent products which are related to the different incidents upon
receiving an alert.
Demonstration of Areas of Effectiveness in CSR Activities
In the present scenario, it has been noticed that the food and beverage industry is
facing various challenges related to the change in climate along with scarcity of water and
disposal of wastes, however the company Vitasoy will be addressing the environmental
impact which is reducing the water and emission footprint effectively (Nurmi and Niemelä
2018). The company Vitasoy is operating in the full compliance with applicable
environmental rules and regulations which are related to GHG emissions along with waste
generation aspects which will be beneficial in managing the overall effectiveness of the team
members in solving the different aspects appropriately.
The managing of the energy which is being used by Vitasoy helps in reducing both
emissions footprints along with operational costs. The company is committed to the efficient
usage of the fuel along with electricity and the company is exploring the adoption of the clean

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energy which will be helpful in reducing the environmental impact. The different
manufacturing plants in China are designed in such a manner which will be maximising the
available natural light along with ventilation, on the other hand the newer plants are installed
with the efficient LED lighting. The further initiatives which have been taken by Vitasoy
Company is to recognize the environmentally efficient designs which is inclusive of the
usage of the natural air for ventilation along with solar energy as water and heat reuse system
(Nurmi and Niemelä 2018).
The company Vitasoy has helped in recognizing the overall importance of reporting
the greenhouse gases footprint along with establishing systems along with processes for
collection of the data in order to maintain and monitor and reduce the direct and indirect
emissions. The main aim of the company is to begin reporting the information from the
coming years which will be beneficial for the overall success of the firm in managing the
different corporate social responsibility related practices and gain competitive advantage in
the market (Nurmi and Niemelä 2018).
Additionally, the environmental influence extends to the supply chain wherein the
company is remaining committed to working with the different suppliers who share the
similar vision of the sustainable development. Considering that the products are plant based
and the chief edible raw materials are soy, agricultural products and tea leaves. The company
Vitasoy tries to select the different sustainable practices and the company is aligned towards
the belief of improving the CSR practices and the sustainability certifications are provided to
provide priority in the process of selection (Vitasoy.com 2019).
The core values of Vitasoy are rooted and it is demonstrated in the way wherein they
are in the process of performing the business. At Vitasoy, the current and prospective
employees are increasingly looking to work with the different organizations as the company

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strives to create a work environment which will enable job satisfaction among the employees
and creating higher sense of purpose among the individuals as well. The employees of
Vitasoy believe in the vision, mission and core values and their jobs are creating meaning for
themselves along with for the overall society.
With the help of the competency model which is being followed by Vitasoy, it can be
identified that there are different aspects which are being followed by them as to increase
accountability, innovation, strategic agility, quality orientation and collaboration aspects
which play a vital role in improving the overall success of the firm in the market. The
learning and development approaches are the most essential aspects which should be
maintained by the company (Vitasoy.com 2019). The company is dedicated towards the
maintaining of the investments in training and development related programs and in the last
year, the company tried to provide the training to employees and provide different
opportunities across business units of Vitasoy.
The Vitasoy Company understands that the improvement of continuous innovation is
one of the essential elements which is required for building a cost-effective manufacturing
practice. As the result of the continuous improvement, the key culture of Vitasoy is to
integrate the overall aspect of innovation and development across the operations which are
being performed by them and it helped them in sharpening their competitive advantage
aspects in the market in which they are operating their business (Schrempf-Stirling, Palazzo
and Phillips 2016). The Vitasoy company values diversification in individual preferences and
perceptions and it will be effective in actively promoting collaboration which is the key
driver for improving the success of the organization.

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Recommendations
From the above, there are different recommendations which can be provided to
Vitasoy as to improve the overall corporate social responsibility related practices in an
effective manner. The various strategies which can be adopted by the Vitasoy Company in
order to become competitive in their approach are as follows:
Firstly, Vitasoy needs to align themselves with the mission and values of the
organization as it will be helpful in providing them with various methods to participate in the
community. The core value of the company is required to be based on aligning with the
business service wherein they can partner themselves with emergency food organizations to
donate the left overs for the ones who are needy and are in great need for the food items.
Furthermore, there should be mobilizing of the different employees through a proper
committee as there are different chances that there can be employees in the company who are
passionate on the social responsibility. As the project which has been analysed by Vitasoy is
ongoing in their aspect, therefore creating a proper committee is essential which will be
focusing on the efforts which will be ensuring that the organization takes the necessary
actions accordingly. Moreover, the engaging of the different customers is one of the best
methods in engaging employees through the different interests.
Additionally, there should be concept of Go Green wherein the company Vitasoy can
make regular changes in the environment which will be helpful in reducing the impact of the
different harmful gases. There can be inclusion of the recycling programs along with
reduction of wastage that can be helpful in improving the overall situation of the company
appropriately. There can be inclusion of volunteering which will play a major role in
managing the corporate social responsibility practices appropriately. There can be

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establishment of the regular schedule for the volunteer events with the team and department
which will be requiring proper planning as to improve the situation appropriately.
Lastly, investing the CSR related efforts is required to be adopted by the company
Vitasoy as the companies need to focus on the attention provided to the sales channel as in
the present scenario, it is the major aspect which is unavoidable in nature. Therefore, it is
crucial in nature to allocate the different natural resources to the ongoing CSR activities
which are undertaken by the company by hiring the key individuals to grow along with
develop strategy properly for the different CSR related efforts of the company.
Conclusion
Therefore, it can be concluded that the corporate social responsibility is one of the
major aspects which should be maintained by the different organizations as to improve the
overall brand image in the competitive business environment. In managing the CSR related
activities in the organization, it is essential to communicate and invest on the different CSR
related activities which will be beneficial in maximising the coverage of the efforts in an
appropriate manner. As to embed the sustainability into Vitasoy’s everyday operations, there
was an introduction of the two-pronged framework, wherein the main aim was to make the
right products and making them in the right manner.
The corporate social responsibility will be helpful for Vitasoy in increasing the brand
image and awareness as they are committed towards ethical practices which will be helpful in
creating brand awareness among the different customers in the market. By embracing the
different CSR related activities, Vitasoy will be standing out in the crowd and it will provide
them advantage over the other competitors present in the market effectively. Due to the
implementation of the various CSR activities, it has been helpful in benefitting the employees

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and the workplace will be positive in their approach and it will be encouraging personal and
professional growth.

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