Looking for a flexible role? 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). The company recorded revenues of $32,562 million during the fiscal year ended December 2005, an increase of 11.3% over 2004. I have chosen the definition of partnerships of 2008, guide to successful Corporate-NGO Partnerships. Discover trustworthy and timely resources in American government, politics, history, public policy, and current affairs. Hence to expand its target audience to include the males, Coke had to launch a new drink communicating a fresh unisex message. The Human Immunodeficiency Virus (HIV) is a virus that attacks the immune system. *You can also browse our support articles here >. It’s how we understand our clients’ needs and goals. This, in turn, lead to a trend in consumer spending and association with more luxurious things like music. Any organization, business and institution is operating under its specific environment. A guide to researching the social and political issues of our time. Contemporary Issues in Business 1050 Words | 4 Pages. Three Special Stakeholders: Society, the Environment, and Government. Common Communication Issues in a Modern Business Environment. Government pressures led the US and the UK soft drink industry to ban fizzy sodas from Elementary schools. 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. And, Contemporary business refers to the circumstances and ideas of the present time in a business environment. The net profit was $4,078 million in fiscal year 2005, a decrease of 3.2% from 2004 (Datamonitor, 2006b). Free resources to assist you with your university studies! This again reinforces the ‘health conscious’ image of the new drinks like Coke Zero. 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. Every business needs to be aware of the anti-discrimination laws and regulations that exist to protect employees from unjust treatment. Communicating with the present and potential stakeholders and the general public is no longer a matter of luxury but competitive necessity. The contemporary issues in leadership include; the "out of the box thinking" of a leader, guiding the employees by setting an example, globalization, enhance the dynamics among the groups. The current reading list can be found in the Module Guide, which your lecturer should make available via Moodle. BA (Hons) in Business Studies Contemporary issues in the Business Environment Spring 2015 7th floor. Harassment and discrimination are arguably the largest ethical issues that impact business owners today. As far as the Supermarket brands are concerned Tesco cola’s communication objective is quite straight forward i.e. Cite this document Summary. Coke’s latest message says ‘the coke side of life’, while Pepsi has been trying to woo its customers by ‘it’s the cola’ and the supermarket cola’s attempt to design the bottles similar to that of the bigger brands and add the word ‘value’ to the label. Company Registration No: 4964706. Although diet Coke was already present, it was predominantly communicated as a female drink. 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. Discover the real world of business for best practices and professional success. CONTEMPORARY ISSUES IN THE BUSINESS ENVIRONMENT COURSEWORK HANDOUT UNIT DETAILS DEPARTMENT UNIT CODE CREDITS STAFF E-MAIL. Identifying the target audience is the most crucial step towards developing an effective communication strategy. However, how much the consumers trust the credibility of the people who communicate these messages to them remains to be seen. Environmental Analysis addresses to the issues and answers question about how an environment affects business success. Moreover these are both male as well as female promoting zero calorie drink to expand the target audience from women to include men. 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. Another trade-mark Coca-Cola way of promoting its products has been the use of high-profile sports events to promote its brands. 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. 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. 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. Further details about degree classification and timetables. Communicating with the present and potential stakeholders and the general public is no longer a matter of luxury but competitive necessity. The syrups, concentrates and beverage bases for Coca-Cola and nearly 400 other soft-drink brands are manufactured and sold by the Coca-Cola Company and its subsidiaries in nearly 200 countries around the world. However, since this is not a very big segment of revenues for these supermarkets, specific communications based on promoting these drinks are not found. It also changed graphics on Coke bottles and adopted a traditional look for its cans. However, the carbonated soft drink category has experience overall softness the last several years (Phillips, 2006). Recent international legislations and proposals, such as the UN’s Sustainable Development Goals, have put environmental issues at the forefront of international business development. Supermarket colas include the likes of Tesco, Somerfield, Lidl etc. We never like to rely on one source to fuel our analyses of the problems facing business today, ... and in many cases the fast-changing business environment is what ignites these fires in the first place. 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 company websites and current adverts were the predominant source for this information. If there is an uncertainty in the international market, regulations of environment, it affects the overall business. It seeks to provide original contributions that add to the understanding of business responses to improving environmental performance. The company operates in 200 countries besides the US and Canada (Datamonitor, 2006b). More than 60% of its products are sold outside of the US (Datamonitor, 2006a). It will familiarise students with common business structures, the key functions of business and the roles managers undertake. 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). 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. Funky Tees. Contemporary Issues in the Business Environment. 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. 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. We're here to answer any questions you have about our services. Contemporary issues help shape the fabric of our society. A module is a self-contained, individual unit of study. Contemporary Issues in the Business Environment. The contemporary business environment has urged the organisations to become socially responsible. Click here to add your own text and edit me. In cokes case the objective seems to be to maintain its strong brand identity and constantly renew it to keep the youthful feeling going. Key contemporary business issues and main external factors affecting the organisation and its impact on Human Resources (HR). It uses contemporary issues as a vehicle for advancing the development of professional skills, values, ethics and attitudes. This could be a broad category based like the younger generation in case of Coke and Pepsi or a people shopping at the supermarkets in case of Tesco cola or other supermarket brands. Marketing gurus like Kotler and Keller (2006) believe that every company is inevitably cast into a role of a communicator and promoter. Business and Management Reading List: Contemporary Issues in the Global Business Environment. Environmental Studies; Contemporary Issues in International Business; Contemporary Issues in International Business - Essay Example. February 12, 2019. Read about fees, funding options and ways to pay. All the above has been achieved with the aid of a very carefully planned marketing communication strategy consistently over the years. The data collected for this review was primarily collected from industry reports like the Keynote reports. Help >> Contact. All work is written to order. However, the most cost intensive means is the television with each advert requiring a gargantuan amount of money. 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. The company has the opportunity to use these two high-profile events to strengthen its brands even further. Some contemporary issues are useful and unifying for society like electronic banking while others can be divisive such as politics, climate issues, and more. MENS. 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 … Copyright © 2003 - 2021 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. In a era where communication is a two way process, internet has helped the soft-drink industry in creating more awareness than ever before. The diminishing geographical boundaries and highly competitive environment … Coke has however been the market leader for a long time now. 2. No plagiarism, guaranteed! The methodology is a plan for collecting, organising and integrating collected data so that an end result can be reached (White, 2002). The 2000 US census indicated that the upper-income consumers were growing and the lower income declining rapidly, yet consistently (Ferrell and Hartline, 2005). Most frequently mentioned challenges of modern HRM are: globalization, economic and legal environment, workforce diversity resulting from both globalization and … Impact on HR – remain compliant with the law, assist with changes in the economy, recruitment and retention. Exclusive T-Shirts. VAT Registration No: 842417633. Moreover, soft drinks accounted for 30% of total commercial beverages consumption (Fenn, 2005). 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). From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. 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. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. This report will attempt to comparative analysis of Marketing Communications strategies and mix for the Cola drinks in the UK. 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). Impact Of Contemporary Socio-economic Issues On The Business Environment > DOWNLOAD. Pepsi on the other hand seems to be attempting to generate a liking among its target audience and capture Coke’s share of the market. Hence it is quite clear the target audience for the communication strategy is the younger generation. Please note this module descriptor is indicative of the structure of this course and may be subject to change. In the 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. 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. Moreover, this would also differ from product to product i.e. 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. Quick Links >> Womens. The company is a clear leader in the soft-drink market, especially in the UK. Finally, it’s how we generate revenue for both our clients and ourselves. Traditionally the soft drink market has been dominated by two giants fighting it out at the top vis-à-vis Coca-cola and Pepsi Cola. BEA is one of the first steps in strategic management or the first move from any business’ perspective before they made a … Since technology pl… 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. 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: 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. Contact >> 123-456-7890 123-456-7890. Reference this. However, overall degree of influence exerted by the Pepsi communication message seems to be lower than its arch rival. 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. In other words, by BA becoming more adaptable to environment and culture it has and still is a booming success. ABOUT. market segmentation. 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. External factors – political, economic, social, technological, legal, environmental, competition and globalisation. To conclude to this report, it has been evident that British Airways to take in consideration of several contemporary issues especially in the Environment and Corporate Culture. 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. However, Datamonitor company profiles were employed to provide reasoning for the company’s choice of the strategy. Based on the above analysis a few crucial issues need be discussed to provide a deeper insight into the choice of the communications strategy chosen by each of the organisations. 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). Moreover, the label design and the content colour is similar to that of Pepsi and Coke to ensure that the customers are aware that they are getting the same product for a much more cheaper price. 0. 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). Understand the key contemporary business issues and main external … 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. Search string of ‘soft drink industry’ was entered in following database: Business source elite, Emerald and Ingenta Connect. The Industrial Revolution was just that, revolutionary. 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. There … The next section would provide a brief overview of the methodology employed by the author. 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). Advertising: The maximum amount of investment made by the company is in this area by employing leading personalities from sports, movies and other arenas. The Cola companies thus need a strategy to communicate a healthy image. To provide a better a break down of the communication strategy employed by Coca-cola in terms of the communication mix is provided below. The Coca-Cola Company (Coca-Cola) manufactures markets and distributes non-alcoholic beverage concentrates and syrups (Datamonitor, 2006a). All supermarket brands have designed their communications strategy to achieve this main objective. Some modules are compulsory, but you can sometimes choose modules outside your core area of study which interest you. The advertisement costs for the company have been astronomically high and it has been highly criticised for it in the past (Datamonitor, 2006a). It is headquartered in Atlanta, Georgia. 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. Imprint Lewiston : E. Mellen Press, c1992. In book: Contemporary Issues in Business Management (pp.130-156 and 250-268.) Profiles in Business Ethics: Contemporary Thought Leaders; A Succinct Theory of Business Ethics ; Business Ethics. FAQ. The fundamental idea is to perform an image analysis and choose a communication strategy which would define a desired image (could be different from the present one). Mens. Defining contemporary business Definition (1): By the word 'contemporary' means belonging to the same period of time or of the present time. 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. SAGE Reference. … (Datamonitor, 2006b). Contemporary Issues in Credo: Environmental Issues. Our academic experts are ready and waiting to assist with any writing project you may have. GEMI, and EDF. Blog. 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). Should harassment or discrimination take place in the workplace, the result could be catastrophic for your organization both financially and reputationally. Snaebjornsson and … 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. 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. 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. 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. 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. Others, however, would disagree and argue that technology is detrimental to human interactions and negatively impacts relationships. However, any comprehensive analysis would need to follow a specific blue-print to lend credibility to the conclusions drawn as a result of the analysis. Communication is at the heart of everything we do. The primary aim of these colas is to give value for the customer’s money, in coherence with its main business objective. On observing Coca-cola’s latest adverts and promotional activities it is clear the organisation’s target audience continues to be the young generation. More. The message for Pepsi and Coke are delivered by attractive and fit people predominantly from the sporting arena. WHAT IS BUSINESS ENVIRONMENT ANALYSIS??? Rapid globalization in the era of advancing technology has tremendously impacted international business. HIV and AIDS. Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. Equal Employment Opportun… Students will also be encouraged to be able to develop the ability to research a range of sources of information. If you need assistance with writing your essay, our professional essay writing service is here to help! Most of the experts entail five major modes of communication vis-à-vis Advertising, Sales promotion, Public relations and publicity, personal selling, Direct and interactive marketing (Fill, 2006). After several failures, BA learnt its mistakes and overcome them. 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). It can be transmitted through sexual behaviour and contact with infected blood. 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! To begin with the report analysed the current market situation to aid a better analysis of the communications strategy employed by the companies. Therefore, companies are lacking to focus on the long-term goals and they prefer to … The reason and timing of the launches might be different and are discussed later on in the report. The module will introduce students to the key dimensions of business and work undertaken by people in business. Sustainability: Business and the Environment Learning Objectives. LOOK BOOK. Public Relations and Publicity: These are a set of communication programs designed to promote and protect the company’s image or its individual product (Kotler and Keller, 2006).. 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