Understand the key contemporary business issues and main external … The communication mix is pretty much the same as that of Coca-cola. A guide to researching the social and political issues of our time. Study for free with our range of university lectures! The U.S. The company recorded revenues of $32,562 million during the fiscal year ended December 2005, an increase of 11.3% over 2004. Business Strategy and the Environment (BSE) is the leading academic journal in its field with peer-reviewed contributions of a high quality. 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. 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. 1. The methodology is a plan for collecting, organising and integrating collected data so that an end result can be reached (White, 2002). Home; Level 4 (First Year) Toggle Dropdown. 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. 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. It is however the second-largest manufacturer of carbonated soft-drinks in the world, second only to Coca-cola. However, the proverbial ‘Cola war’ as it has definitely not died out. CQ Press. Pepsi is sponsoring and flaunting a lot of sports personalities in its adverts as well ranging from rugby to cricket. This, in turn, lead to a trend in consumer spending and association with more luxurious things like music. And, Contemporary business refers to the circumstances and ideas of the present time in a business environment. 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. 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. The company recorded revenues of $23,104 million during the fiscal year ended December 2005, an increase of 6.3% over 2004. Company Registration No: 4964706. Contemporary issues in the business environment. The module will introduce students to the key dimensions of business and work undertaken by people in business. It is headquartered in Atlanta, Georgia. 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. Adverts in papers, magazines and streets are commonly employed as well. Reference this. 0. Most frequently mentioned challenges of modern HRM are: globalization, economic and legal environment, workforce diversity resulting from both globalization and … Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. 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). Cite this document Summary. Others, however, would disagree and argue that technology is detrimental to human interactions and negatively impacts relationships. Without a doubt, technology has changed the face of modern society and the organizations within it. 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. 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. Contemporary Issues in the Business Environment. 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. Help >> Contact. I have chosen the definition of partnerships of 2008, guide to successful Corporate-NGO Partnerships. 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. 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. Moreover, this would also differ from product to product i.e. Profiles in Business Ethics: Contemporary Thought Leaders; A Succinct Theory of Business Ethics ; Business Ethics. A contemporary business environment maximizes … 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. 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).. WOMENS. 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. LOOK BOOK. Coke has however been the market leader for a long time now. There is not much to differentiate between Pepsi and Coke’s current campaign elements. Although not as attractive was the Coke campaign, the message is still louder, clearer and younger than ever before. Read about fees, funding options and ways to pay. BEA is one of the first steps in strategic management or the first move from any business’ perspective before they made a … (Datamonitor, 2006b). Recent international legislations and proposals, such as the UN’s Sustainable Development Goals, have put environmental issues at the forefront of international business development. 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. 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. If there is an uncertainty in the international market, regulations of environment, it affects the overall business. This again reinforces the ‘health conscious’ image of the new drinks like Coke Zero. Author: Ludwig, Dean Paul, Karen: Year: 1992: Pages: 264: ISBN: 0-7734-9543-6 978-0-7734 -9543-2: Price: $199.95. 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). Equal Employment Opportun… Exclusive T-Shirts. a diet coke is targeted more at the health conscious women. To attract younger consumers to its flagship cola, Coca-Cola launched new marketing and ad campaigns in 2003. To begin with the report analysed the current market situation to aid a better analysis of the communications strategy employed by the companies. 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). Seven Topics and Techniques of Contemporary Business Importance. Most of the lifestyle changes are closely related to the corresponding economic shifts. CONTEMPORARY ISSUES IN THE BUSINESS ENVIRONMENT COURSEWORK HANDOUT UNIT DETAILS DEPARTMENT UNIT CODE CREDITS STAFF E-MAIL. HIV and AIDS. 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. 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. The data collected for this review was primarily collected from industry reports like the Keynote reports. Contact >> 123-456-7890 123-456-7890. All the above has been achieved with the aid of a very carefully planned marketing communication strategy consistently over the years. Hence it is quite clear the target audience for the communication strategy is the younger generation. Since then, technology innovation has accelerated and now plays a huge role in day-to-day life. In South Africa, contemporary socio-economic issues include HIV/AIDS, poverty and unemployment. The company operates in 200 countries besides the US and Canada (Datamonitor, 2006b). Harassment and discrimination are arguably the largest ethical issues that impact business owners today. BA (Hons) in Business Studies Contemporary issues in the Business Environment Spring 2015 7th floor. The module will also examine the factors and impact of the local and global business environment on running of businesses. The 2000 US census indicated that the upper-income consumers were growing and the lower income declining rapidly, yet consistently (Ferrell and Hartline, 2005). February 12, 2019. Contemporary issues help shape the fabric of our society. 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. Communicating with the present and potential stakeholders and the general public is no longer a matter of luxury but competitive necessity. Defining contemporary business Definition (1): By the word 'contemporary' means belonging to the same period of time or of the present time. Discover trustworthy and timely resources in American government, politics, history, public policy, and current affairs. SAGE Reference. 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. Moreover these are both male as well as female promoting zero calorie drink to expand the target audience from women to include men. Should harassment or discrimination take place in the workplace, the result could be catastrophic for your organization both financially and reputationally. Every business needs to be aware of the anti-discrimination laws and regulations that exist to protect employees from unjust treatment. Impact Of Contemporary Socio-economic Issues On The Business Environment > DOWNLOAD. 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. CONTACT. Click here to add your own text and edit me. GEMI, and EDF. 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. WHAT IS BUSINESS ENVIRONMENT ANALYSIS??? In order to prepare this report the author employed both primary and secondary data. In the Personal selling: These include all face-to-face interactions with one or more prospective purchases with an aim of making presentations, answering questions and procuring orders (Kotler and Keller, 2006).. Considering the size of the target audience the mode of communication chosen by Pepsi and Coke are justified i.e. Some modules are compulsory, but you can sometimes choose modules outside your core area of study which interest you. ABOUT. Identifying the target audience is the most crucial step towards developing an effective communication strategy. Contemporary Issues in Business 1050 Words | 4 Pages. The diminishing geographical boundaries and highly competitive environment … So what is the problem to be solved? There … Copyright © 2003 - 2021 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. 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). 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. Our academic experts are ready and waiting to assist with any writing project you may have. *You can also browse our support articles here >. Responsibility edited by Dean Ludwig and Karen Paul. Registered Data Controller No: Z1821391. Snaebjornsson and … Contemporary Issues in Credo: Environmental Issues. The message design needs to reflect the communication object and appeal to the target audience. The Coca-Cola Company (Coca-Cola) manufactures markets and distributes non-alcoholic beverage concentrates and syrups (Datamonitor, 2006a). In cokes case the objective seems to be to maintain its strong brand identity and constantly renew it to keep the youthful feeling going. On observing Coca-cola’s latest adverts and promotional activities it is clear the organisation’s target audience continues to be the young generation. 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). In book: Contemporary Issues in Business Management (pp.130-156 and 250-268.) However, the most cost intensive means is the television with each advert requiring a gargantuan amount of money. Communications Hence to expand its target audience to include the males, Coke had to launch a new drink communicating a fresh unisex message. Common Communication Issues in a Modern Business Environment. 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. Finally, it’s how we generate revenue for both our clients and ourselves. 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). The company has the opportunity to use these two high-profile events to strengthen its brands even further. Importantly, Block and Crawford (2013) emphasise persistence of stereotypes which prevent development of female leadership. However, Datamonitor company profiles were employed to provide reasoning for the company’s choice of the strategy. Supermarket colas include the likes of Tesco, Somerfield, Lidl etc. However, since this is not a very big segment of revenues for these supermarkets, specific communications based on promoting these drinks are not found. 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. 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). Since technology pl… Free resources to assist you with your university studies! Sustainability: Business and the Environment Learning Objectives. 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. Advertising: The maximum amount of investment made by the company is in this area by employing leading personalities from sports, movies and other arenas. 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. 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. Followed by a thorough industry analysis current communications strategy for Coca-cola, Pepsi and the Supermarket brands were analysed. Any organization, business and institution is operating under its specific environment. 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 company is a clear leader in the soft-drink market, especially in the UK. … 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 … Some contemporary issues are useful and unifying for society like electronic banking while others can be divisive such as politics, climate issues, and more. 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). 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 can be transmitted through sexual behaviour and contact with infected blood. Communication is at the heart of everything we do. Environmental Analysis addresses to the issues and answers question about how an environment affects business success. Moreover, it has a barrage of competitions and opportunities to win a prize for its visitors thus providing another form of incentive. Keeping the above descriptions in mind an analysis of the communications strategy employed by the lead players in the soft-drink market can be attempted. 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. MENS. BAED PROGRAMME CBE3116 UNIT TITLE 10 credits SESSION Dr. Evi Mattheopoulou STAFF OFFICE emattheopoulou@city.academic.gr. Pepsi has similar to Coke made music a part of its communication strategy by joining hands with yahoo music. 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 next section would provide a brief overview of the methodology employed by the author. 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. However, the carbonated soft drink category has experience overall softness the last several years (Phillips, 2006). PepsiCo is a leading global snack and beverage company. HOME. 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. For instance, the Tesco Cola would have price written on it in big font. According to the Keynote Drinks market review, the UK soft drinks market was worth more than £7.3bn in 2005 (Fenn, 2005). Comments (0) Add to wishlist Delete from wishlist. 2. Do you have a 2:1 degree or higher? About Us >> I'm a paragraph. Moreover, Coca-Cola is the world’s leading brand. However, this does not seems to be working evident in Pepsi’s decreasing sales in the UK and the US (Datamonitor, 2006b). It’s how we understand our clients’ needs and goals. Government pressures led the US and the UK soft drink industry to ban fizzy sodas from Elementary schools. Marketing gurus like Kotler and Keller (2006) … Mens. 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. 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. 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. All supermarket brands have designed their communications strategy to achieve this main objective. Imprint Lewiston : E. Mellen Press, c1992. Business and Management Reading List: Contemporary Issues in the Global Business Environment. The advertisement costs for the company have been astronomically high and it has been highly criticised for it in the past (Datamonitor, 2006a). … Looking for a flexible role? Rapid globalization in the era of advancing technology has tremendously impacted international business. 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. As far as the Supermarket brands are concerned Tesco cola’s communication objective is quite straight forward i.e. 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. Another trade-mark Coca-Cola way of promoting its products has been the use of high-profile sports events to promote its brands. External factors – political, economic, social, technological, legal, environmental, competition and globalisation. Therefore, companies are lacking to focus on the long-term goals and they prefer to … Please note this module descriptor is indicative of the structure of this course and may be subject to change. The net profit was $4,078 million in fiscal year 2005, a decrease of 3.2% from 2004 (Datamonitor, 2006b). It is headquartered in Purchase, New York. 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. More than 60% of its products are sold outside of the US (Datamonitor, 2006a). Blog. 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. 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. It seeks to provide original contributions that add to the understanding of business responses to improving environmental performance. Although diet Coke was already present, it was predominantly communicated as a female drink. The company has a tie up with Apple computers and provides free iTunes song on every bottle cover as a promotional activity. Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. 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. More. Funky Tees. It also changed graphics on Coke bottles and adopted a traditional look for its cans. 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. The Cola companies thus need a strategy to communicate a healthy image. 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. 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). In other words, by BA becoming more adaptable to environment and culture it has and still is a booming success. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. Look Book. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. Search string of ‘soft drink industry’ was entered in following database: Business source elite, Emerald and Ingenta Connect. No plagiarism, guaranteed! The European Union segment is the largest revenue segment of the company. If you need assistance with writing your essay, our professional essay writing service is here to help! 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. Available online At the library. 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. 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. 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. Contemporary Issues in the Business Environment. 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). The company websites and current adverts were the predominant source for this information. 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. In a era where communication is a two way process, internet has helped the soft-drink industry in creating more awareness than ever before. Publisher: Scoa Heritage Publishers FAQ. SAGE Business Cases. The new colourful campaign labelled by the company as ‘the coke side of life’ reinforces the youthful image of the brand. Key contemporary business issues and main external factors affecting the organisation and its impact on Human Resources (HR). The Industrial Revolution was just that, revolutionary. Quick Links >> Womens. 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. Moreover, soft drinks accounted for 30% of total commercial beverages consumption (Fenn, 2005). Impact on HR – remain compliant with the law, assist with changes in the economy, recruitment and retention. The reason and timing of the launches might be different and are discussed later on in the report. It will familiarise students with common business structures, the key functions of business and the roles managers undertake. Physical description iv, 254 p. : ill ; 24 cm. We're here to answer any questions you have about our services. However, how much the consumers trust the credibility of the people who communicate these messages to them remains to be seen. 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