It is headquartered in Purchase, New York. Communications Since technology pl… 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. To begin with the report analysed the current market situation to aid a better analysis of the communications strategy employed by the companies. 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. 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). Please note this module descriptor is indicative of the structure of this course and may be subject to change. 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. This again reinforces the ‘health conscious’ image of the new drinks like Coke Zero. 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). MENS. Impact on HR – remain compliant with the law, assist with changes in the economy, recruitment and retention. Moreover, Coca-Cola is the world’s leading brand. The current reading list can be found in the Module Guide, which your lecturer should make available via Moodle. 2. 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. However, the most cost intensive means is the television with each advert requiring a gargantuan amount of money. However, the carbonated soft drink category has experience overall softness the last several years (Phillips, 2006). 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). Government pressures led the US and the UK soft drink industry to ban fizzy sodas from Elementary schools. 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. Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. The company has a tie up with Apple computers and provides free iTunes song on every bottle cover as a promotional activity. 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. 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. The company operates in 200 countries besides the US and Canada (Datamonitor, 2006b). Moreover, soft drinks accounted for 30% of total commercial beverages consumption (Fenn, 2005). Looking for a flexible role? BA (Hons) in Business Studies Contemporary issues in the Business Environment Spring 2015 7th floor. 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 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. ABOUT. There is not much to differentiate between Pepsi and Coke’s current campaign elements. This, in turn, lead to a trend in consumer spending and association with more luxurious things like music. Company Registration No: 4964706. 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. Recent international legislations and proposals, such as the UN’s Sustainable Development Goals, have put environmental issues at the forefront of international business development. 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. Blog. 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). 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. The message for Pepsi and Coke are delivered by attractive and fit people predominantly from the sporting arena. 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. It is however the second-largest manufacturer of carbonated soft-drinks in the world, second only to Coca-cola. Without a doubt, technology has changed the face of modern society and the organizations within it. 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. Impact Of Contemporary Socio-economic Issues On The Business Environment > DOWNLOAD. On observing Coca-cola’s latest adverts and promotional activities it is clear the organisation’s target audience continues to be the young generation. For instance, the Tesco Cola would have price written on it in big font. LOOK BOOK. 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. Cite this document Summary. Hence to expand its target audience to include the males, Coke had to launch a new drink communicating a fresh unisex message. Importantly, Block and Crawford (2013) emphasise persistence of stereotypes which prevent development of female leadership. In order to prepare this report the author employed both primary and secondary data. 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. However, business conduct is usually not a criminal offense, but it can still create significant problems for a company. The net profit was $4,078 million in fiscal year 2005, a decrease of 3.2% from 2004 (Datamonitor, 2006b). 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. It is headquartered in Atlanta, Georgia. The U.S. About Us >> I'm a paragraph. Understand the key contemporary business issues and main external … This is where marketing communications strategy comes into picture. However, this does not seems to be working evident in Pepsi’s decreasing sales in the UK and the US (Datamonitor, 2006b). Contemporary Issues in the Business Environment. The Industrial Revolution was just that, revolutionary. So what is the problem to be solved? Followed by a thorough industry analysis current communications strategy for Coca-cola, Pepsi and the Supermarket brands were analysed. 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). Comments (0) Add to wishlist Delete from wishlist. … Another trade-mark Coca-Cola way of promoting its products has been the use of high-profile sports events to promote its brands. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. The reason and timing of the launches might be different and are discussed later on in the report. Finally, it’s how we generate revenue for both our clients and ourselves. 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. Common Communication Issues in a Modern Business Environment. Rapid globalization in the era of advancing technology has tremendously impacted international business. More than 60% of its products are sold outside of the US (Datamonitor, 2006a). In other words, by BA becoming more adaptable to environment and culture it has and still is a booming success. 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. CONTACT. The communication mix is pretty much the same as that of Coca-cola. In book: Contemporary Issues in Business Management (pp.130-156 and 250-268.) 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. Sustainability: Business and the Environment Learning Objectives. Reference this. 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). 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. 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. Physical description iv, 254 p. : ill ; 24 cm. A guide to researching the social and political issues of our time. Further details about degree classification and timetables. It will familiarise students with common business structures, the key functions of business and the roles managers undertake. … Adverts in papers, magazines and streets are commonly employed as well. Registered Data Controller No: Z1821391. Hence it is quite clear the target audience for the communication strategy is the younger generation. market segmentation. 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. 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. Moreover, it has a barrage of competitions and opportunities to win a prize for its visitors thus providing another form of incentive. The company websites and current adverts were the predominant source for this information. 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. More. According to the Keynote Drinks market review, the UK soft drinks market was worth more than £7.3bn in 2005 (Fenn, 2005). Every business needs to be aware of the anti-discrimination laws and regulations that exist to protect employees from unjust treatment. BEA is one of the first steps in strategic management or the first move from any business’ perspective before they made a … 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. There … Help >> Contact. 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. We're here to answer any questions you have about our services. 0. 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. 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). HOME. Therefore, companies are lacking to focus on the long-term goals and they prefer to … 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. Quick Links >> Womens. Key contemporary business issues and main external factors affecting the organisation and its impact on Human Resources (HR). WHAT IS BUSINESS ENVIRONMENT ANALYSIS??? 1. Others, however, would disagree and argue that technology is detrimental to human interactions and negatively impacts relationships. 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. 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. The advertisement costs for the company have been astronomically high and it has been highly criticised for it in the past (Datamonitor, 2006a). However, Datamonitor company profiles were employed to provide reasoning for the company’s choice of the strategy. 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). 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. 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. 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. Study for free with our range of university lectures! It’s how we work together as a team to put those needs and goals into a cohesive and actionable strategy. 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). Marketing gurus like Kotler and Keller (2006) … 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. Author: Ludwig, Dean Paul, Karen: Year: 1992: Pages: 264: ISBN: 0-7734-9543-6 978-0-7734 -9543-2: Price: $199.95. Some of the ethical concerns for businesses can be broken down into four categories: Fundamental issues: These issues include integrity and trust when dealing with customers and employees. Coke has however been the market leader for a long time now. If you need assistance with writing your essay, our professional essay writing service is here to help! 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). The module will introduce students to the key dimensions of business and work undertaken by people in business. Snaebjornsson and … 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. Communicating with the present and potential stakeholders and the general public is no longer a matter of luxury but competitive necessity. Businesses need to work with the government to address these problems. The contemporary business environment has urged the organisations to become socially responsible. Search string of ‘soft drink industry’ was entered in following database: Business source elite, Emerald and Ingenta Connect. The 2000 US census indicated that the upper-income consumers were growing and the lower income declining rapidly, yet consistently (Ferrell and Hartline, 2005). The new colourful campaign labelled by the company as ‘the coke side of life’ reinforces the youthful image of the brand. 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. To attract younger consumers to its flagship cola, Coca-Cola launched new marketing and ad campaigns in 2003. SAGE Reference. Moreover these are both male as well as female promoting zero calorie drink to expand the target audience from women to include men. The data collected for this review was primarily collected from industry reports like the Keynote reports. Harassment and discrimination are arguably the largest ethical issues that impact business owners today. A module is a self-contained, individual unit of study. 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. 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. Since then, technology innovation has accelerated and now plays a huge role in day-to-day life. SAL3 (off-campus storage) Stacks Request. Home; Level 4 (First Year) Toggle Dropdown. This volume presents current theory and empirical research on ethical and social issues in business. Three Special Stakeholders: Society, the Environment, and Government. Discover the real world of business for best practices and professional success. Contemporary Issues in Business 1050 Words | 4 Pages. However, how much the consumers trust the credibility of the people who communicate these messages to them remains to be seen. Read about fees, funding options and ways to pay. It also changed graphics on Coke bottles and adopted a traditional look for its cans. Any organization, business and institution is operating under its specific environment. Business Strategy and the Environment (BSE) is the leading academic journal in its field with peer-reviewed contributions of a high quality. 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. 7th Jun 2017 FAQ. *You can also browse our support articles here >. Identifying the target audience is the most crucial step towards developing an effective communication strategy. 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’s how we understand our clients’ needs and goals. Look Book. a diet coke is targeted more at the health conscious women. 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