contemporary issues in business environment
Pepsi’s new message says ‘it’s the cola’ which is in synchrony with Pepsi’s tradition of structuring its messages to induce and assert choice over Coke. Business Strategy and the Environment (BSE) is the leading academic journal in its field with peer-reviewed contributions of a high quality. Hence it is quite clear the target audience for the communication strategy is the younger generation. All the above has been achieved with the aid of a very carefully planned marketing communication strategy consistently over the years. Students will also be encouraged to be able to develop the ability to research a range of sources of information. Impact on HR – remain compliant with the law, assist with changes in the economy, recruitment and retention. GEMI, and EDF. Help >> Contact. The company’s net profit was $4,872 million in fiscal year 2005, an increase of 0.5% over 2004 (Coca-Cola annual report, 2006). Contemporary issues help shape the fabric of our society. Funky Tees. Communication is at the heart of everything we do. Equal Employment Opportun… Advertising: The maximum amount of investment made by the company is in this area by employing leading personalities from sports, movies and other arenas. It is apparent from the above analysis that the communications strategy of all the three organisations is primarily based on identifying the target audience i.e. On observing Coca-cola’s latest adverts and promotional activities it is clear the organisation’s target audience continues to be the young generation. Contemporary Issues and Challenges in Marketing Environment Worldwide: 10.4018/978-1-5225-7180-3.ch002: Investigating contemporary issues in specific scientific areas is a continuing concern within understanding underlying conditions and decision making. About Us >> I'm a paragraph. Environmental Studies; Contemporary Issues in International Business; Contemporary Issues in International Business - Essay Example. The company operates in 200 countries besides the US and Canada (Datamonitor, 2006b). To attract younger consumers to its flagship cola, Coca-Cola launched new marketing and ad campaigns in 2003. According to Friedman (1962), the businesses need to use its resources for getting engaged in the activities to increase its profits while staying within the rules of the game of free competition without deception and fraud. Contemporary issues in the business environment. On the basis of the industry situation entailed above the next few sections would analyse the current communications strategy employed by Coca-Cola, Pepsi and the Supermarket brands like Tesco Cola. SAL3 (off-campus storage) Stacks Request. When you work in a small environment, each team member's personality can have a huge impact on the harmony and productivity of the business. FAQ. CONTACT. The U.S. Cite this document Summary. However, business conduct is usually not a criminal offense, but it can still create significant problems for a company. So what is the problem to be solved? Seven Topics and Techniques of Contemporary Business Importance. More than 60% of its products are sold outside of the US (Datamonitor, 2006a). WHAT IS BUSINESS ENVIRONMENT ANALYSIS??? The reason and timing of the launches might be different and are discussed later on in the report. The company recorded revenues of $32,562 million during the fiscal year ended December 2005, an increase of 11.3% over 2004. CQ Press. CONTEMPORARY ISSUES IN THE BUSINESS ENVIRONMENT COURSEWORK HANDOUT UNIT DETAILS DEPARTMENT UNIT CODE CREDITS STAFF E-MAIL. taking music on board the communication strategy with iTunes seems to have boosted Cokes position much more while Pepsi’s association with yahoo music came only as an after thought. The Human Immunodeficiency Virus (HIV) is a virus that attacks the immune system. PepsiCo is a leading global snack and beverage company. As mentioned earlier the supermarket brands cannot afford a high communication budget on solely marketing the colas especially at the price they need to sell it for. Public health advocates and health researchers in the US and the UK have proposed a consumer paid Obesity Tax on carbonated drinks in a bid to reduce consumption and fight the global epidemic that is obesity. The advertisement costs for the company have been astronomically high and it has been highly criticised for it in the past (Datamonitor, 2006a). I have chosen the definition of partnerships of 2008, guide to successful Corporate-NGO Partnerships. External factors – political, economic, social, technological, legal, environmental, competition and globalisation. Further details about degree classification and timetables. We will write a custom Essay on Contemporary Issues in Management ... an organization is viewed as having fair employee policies and integrates underrepresented individuals into the work environment” (Virick and Greer 2012, p. 577). The communications strategy adopted by the players in the industry would be affected substantially by the changes in the industry dynamics and the best way to take a look at the relevant changes would be to employ a PEST analysis. Others, however, would disagree and argue that technology is detrimental to human interactions and negatively impacts relationships. Copyright © 2003 - 2021 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. In order to prepare this report the author employed both primary and secondary data. Taking into consideration all the points discussed above it can be concluded that the current communication strategy and mix employed by the organisations under scrutiny are a result of the changes in their external environment and are in synchrony with their apparent communication objectives. Most frequently mentioned challenges of modern HRM are: globalization, economic and legal environment, workforce diversity resulting from both globalization and … To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! WOMENS. The next section would provide a brief overview of the methodology employed by the author. Values: Actions at two levels we seldom examine In an age of uncertainty between employer and employee, there is a natural tendency to accentuate “corporate values” as a “rudder” to maintain focus and to communicate corporate intent. Sales Promotion: There are constant offers that come with a bottle or can of coke, be it free song on iTunes or a buy one get one free offer, there is always an incentive to buy. The module descriptor provides various details about the module including who the module tutor is, what you will be studying, how you will be assessed and what you will have learned once you have completed the module. The messages from each of the three players seem to be in synchrony with their objectives, Coke’s message design seems to have the right emotional selling proposition (ESP). However, overall degree of influence exerted by the Pepsi communication message seems to be lower than its arch rival. Given the popularity of Apple’s iPod among the young audience a promotional collaboration with the computer giant sends a very strong message to the consumers. However, Datamonitor company profiles were employed to provide reasoning for the company’s choice of the strategy. However, the main concern in the age of technology is not how to communicate but rather what to say, to whom and how often (Kotler and Keller, 2006). Registered Data Controller No: Z1821391. It is imperative to measure the marketing communication effectiveness by asking the target audience to recall the message, frequency etc in order to make any effective changes to an existing strategy. Contemporary Business Issues – Special NAAS Edition Editor’s Forward I would like to thank all who volunteered to serve as reviewers, particularly those who actually participated in reviewing the articles submitted for publication in the current issue. Look Book. Therefore, companies are lacking to focus on the long-term goals and they prefer to … Course maps and module descriptors from previous years can be found in the Course Resources Archive. Click here to add your own text and edit me. It also changed graphics on Coke bottles and adopted a traditional look for its cans. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. It also innovative technology, the ability to make quick decisions, able to handle the changes and unpredictability, work ethics, monitoring and maintaining the work quality among the workers. The Cola companies thus need a strategy to communicate a healthy image. Another trade-mark Coca-Cola way of promoting its products has been the use of high-profile sports events to promote its brands. Principles and Functions of Management Law for Business Developing Professional and Academic Skills Business Planning and Entrepreneurship Financial Awareness for Business Marketing a Business Organisation Work-based Learning 1 Business … Identifying the target audience is the most crucial step towards developing an effective communication strategy. A student passing this module should be able to: A course map contains a list of the individual study units, called modules, that you study to complete your course. Prior to diving into the crux of the report it is essential to have a understanding of the modes of communication which are generally included in the communication mix to form a communication strategy. Moreover, Coca-Cola is the world’s leading brand. The data collected for this review was primarily collected from industry reports like the Keynote reports. This module will use the knowledge and experience students have as customers in real life to help them discover and understand the key facets of a business. Personal selling and direct marketing: The only means of direct consumer interaction seems to be the internet which has a highly interactive and colourful website. However, the most cost intensive means is the television with each advert requiring a gargantuan amount of money. Exclusive T-Shirts. Read about fees, funding options and ways to pay. The net profit was $4,078 million in fiscal year 2005, a decrease of 3.2% from 2004 (Datamonitor, 2006b). Here's a look at … The contemporary business environment is extremely competitive and hence coping with such pressures calls for modern marketing which can go beyond developing a good product, pricing it attractively and making it accessible. 7th Jun 2017 Supermarket colas include the likes of Tesco, Somerfield, Lidl etc. Since technology pl… However, the proverbial ‘Cola war’ as it has definitely not died out. Political, guided by high profile figures line California’s governor Arnold Schwarzenegger, and public forces alike are pushing hard to extend the ban into High schools (Mercer, 2005). This volume presents current theory and empirical research on ethical and social issues in business. Since Coke is the market leader the communication objective does not have to attempt to change either the cognitive, affective or behavioural responses from its consumers. Direct and interactive marketing: This is a product of the technology revolution and includes the use of e-mail, post, telephone, fax or internet to communicate directly with or solicit response or dialogue from specific customers and prospect (Kotler and Keller, 2006). 0. As far as the Supermarket brands are concerned Tesco cola’s communication objective is quite straight forward i.e. The contemporary business environment has urged the organisations to become socially responsible. Advertising: Advertising can be defined as any paid form of non-personal presentation and promotion of ideas, goods and services by an identified sponsor (Kotler and Keller, 2006). It is however the second-largest manufacturer of carbonated soft-drinks in the world, second only to Coca-cola. Technology, today, is the single most imperative weapon for a firm to procure, enabling it to combat most threatening situations, ranging from reducing the cost of production to coming up with new-fangled healthier alternatives and novel strategies for communication. The company websites and current adverts were the predominant source for this information. BEA is one of the first steps in strategic management or the first move from any business’ perspective before they made a … Sales Promotion: Activities included under sales promotion can be described as a variety of short-term incentives to encourage trial or purchase of a product or service (Kotler and Keller, 2006). Three Special Stakeholders: Society, the Environment, and Government. Contact >> 123-456-7890 123-456-7890. All work is written to order. Study for free with our range of university lectures! Harassment and discrimination are arguably the largest ethical issues that impact business owners today. This would require a even more forceful pursuit to produce an image make over into s drink that does not contribute to obesity in both the male and the female target audience. Pepsi is sponsoring and flaunting a lot of sports personalities in its adverts as well ranging from rugby to cricket. Physical description iv, 254 p. : ill ; 24 cm. Business-Week and Inter-brand, a branding consultancy, reckoned Coca-Cola as the leading brand in their top 100 global brands ranking in 2005 (Datamonitor, 2006a). Environmental Analysis addresses to the issues and answers question about how an environment affects business success. Develop awareness of key concepts and theories in business and economics and facilitate their application to real world examples, To provide a clear and comprehensive understanding of the functions within organisations and their impact of their execution, Present a clear depiction of contemporary business and economic contexts and illustrate associated pressures on national economies and organisations, Analyse the way organisations operate and the impact of their contextual issues, Apply numerical and non-numerical techniques to appraise economic policy and business decision-making. Pepsi has similar to Coke made music a part of its communication strategy by joining hands with yahoo music. Communicating with the present and potential stakeholders and the general public is no longer a matter of luxury but competitive necessity. To provide a better a break down of the communication strategy employed by Coca-cola in terms of the communication mix is provided below. It is headquartered in Atlanta, Georgia. Recent international legislations and proposals, such as the UN’s Sustainable Development Goals, have put environmental issues at the forefront of international business development. Businesses need to work with the government to address these problems. Contemporary Issues in the Business Environment: Module Code: BM3703: Module Tutor: Vassil Rachkov: School: Business School: CAT Points: 15: Level of Study: 3: Brief Description: This module will use the knowledge and experience students have as customers in real life to help them discover and understand the key facets of a business. Discover trustworthy and timely resources in American government, politics, history, public policy, and current affairs. There are the following contemporary issues of businesses: The Situation of Uncertainty All human beings especially the business professionals find discomfort themselves due to the situation of uncertainty. Besides this the company has launched the new range of Coke Zero, which is an attempt to meet the industry requirements of health conscious drinks. As mentioned above, on the one hand lifestyle awakenings towards healthier food and drink customs in developed countries possibly will fetter profitability, on the other hand heightened consumer spending power in developing countries like India and China have paved the way for a double digit increase in international sales of soft drinks (Fenn, 2005). The European Union segment is the largest revenue segment of the company. HOME. Hence to expand its target audience to include the males, Coke had to launch a new drink communicating a fresh unisex message. The Contemporary Business Environment: Kingdom Authority Christian Center Ken Davis Liberty University The Contemporary Business Environment A contemporary business environment is an approved way, for not-for-profit organizations and government agencies to handle their finances instead of the efficient and effective directives available. Publicity and Public relations: As mentioned earlier, Coke as a brand has been the first one to set a trend of sponsoring big occasions and creating strong opportunities for publicity. 2. Textbooks like marketing management by Kotler and Keller and the others mentioned in the reference section at the end of the paper were employed to give a sound theoretical background to all the discussions made about the communications strategies. Mens. The company has the opportunity to use these two high-profile events to strengthen its brands even further. The more advanced a person is in the culture of our times is usually more aware of contemporary issues than one who is remote and disconnected from society. VAT Registration No: 842417633. While a consumer survey would be required to add credibility to the above statement the analysis and discussion do provide a useful insight into the communication strategy formulation process and the choice of the communication mix based on which few recommendations can be made. Coke has however been the market leader for a long time now. The company manufactures markets and sells a range of salty, convenient, sweet and grain-based snacks, carbonated and non-carbonated beverages and foods (Datamonitor, 2006b). Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. The current reading list can be found in the Module Guide, which your lecturer should make available via Moodle. It’s how we work together as a team to put those needs and goals into a cohesive and actionable strategy. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. Moreover these are both male as well as female promoting zero calorie drink to expand the target audience from women to include men. HIV and AIDS. Although not as attractive was the Coke campaign, the message is still louder, clearer and younger than ever before. This again reinforces the ‘health conscious’ image of the new drinks like Coke Zero. the main channel of communication is television and internet. However, since this is not a very big segment of revenues for these supermarkets, specific communications based on promoting these drinks are not found. If there is an uncertainty in the international market, regulations of environment, it affects the overall business. In the The company was been chosen as one of the official sponsors for the FIFA World Cup 2006 in Germany, as well as the Olympics Games 2008 in Beijing, China (Datamonitor, 2006a). Moreover, while identifying the target audience and developing communication objectives the marketer needs to ensure that any gap between the current public perception and the image sought are covered. The supermarket Colas don’t have to use these as their primary aim is to communicate to the consumer that it is a cheaper alternative and it is cheap because of meagre expenses in advertising. There has always been an attempt to create a fun image for the drink, which till now the company has managed to communicate extremely effectively. This is where marketing communications strategy comes into picture. Company Registration No: 4964706. Sustainability: Business and the Environment Learning Objectives. Please note this module descriptor is indicative of the structure of this course and may be subject to change. Home; Level 4 (First Year) Toggle Dropdown. MENS. market segmentation. A guide to researching the social and political issues of our time. Understand the key contemporary business issues and main external … Profiles in Business Ethics: Contemporary Thought Leaders; A Succinct Theory of Business Ethics ; Business Ethics. The diminishing geographical boundaries and highly competitive environment … February 12, 2019. Marketing gurus like Kotler and Keller (2006) believe that every company is inevitably cast into a role of a communicator and promoter. Importantly, Block and Crawford (2013) emphasise persistence of stereotypes which prevent development of female leadership. However, this does not seems to be working evident in Pepsi’s decreasing sales in the UK and the US (Datamonitor, 2006b). inducing preference among its customers to buy its product over the bigger brands by keeping the prices low and providing more value for money to its customers. Quick Links >> Womens. The current communication strategies in all three instances above seem to be hitting their target, however Coke as usual seems to be pulling out the best suited tricks with Pepsi just following suit i.e. The Contemporary Business Issues subject examines contemporary and emerging global issues in order to familiarise you with the business environment you are likely to be operating in as an accountant. Every business needs to be aware of the anti-discrimination laws and regulations that exist to protect employees from unjust treatment. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. The company recorded revenues of $23,104 million during the fiscal year ended December 2005, an increase of 6.3% over 2004. Contemporary Issues in the Business Environment. In South Africa, contemporary socio-economic issues include HIV/AIDS, poverty and unemployment. Defining contemporary business Definition (1): By the word 'contemporary' means belonging to the same period of time or of the present time. However, how much the consumers trust the credibility of the people who communicate these messages to them remains to be seen. When deciding the marketing communication mix a cost benefit analysis of each tool needs to be done to ensure that the most effective strategy is produced within optimum budget. In book: Contemporary Issues in Business Management (pp.130-156 and 250-268.) Search string of ‘soft drink industry’ was entered in following database: Business source elite, Emerald and Ingenta Connect. Considering the size of the target audience the mode of communication chosen by Pepsi and Coke are justified i.e. Do you have a 2:1 degree or higher? Government pressures led the US and the UK soft drink industry to ban fizzy sodas from Elementary schools. Comments (0) Add to wishlist Delete from wishlist. Key contemporary business issues and main external factors affecting the organisation and its impact on Human Resources (HR). However, the carbonated soft drink category has experience overall softness the last several years (Phillips, 2006). The primary aim of these colas is to give value for the customer’s money, in coherence with its main business objective. It will familiarise students with common business structures, the key functions of business and the roles managers undertake. Followed by a thorough industry analysis current communications strategy for Coca-cola, Pepsi and the Supermarket brands were analysed. 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