This paper will explore the ongoing challenges that today's companies face in the global business environment. These challenges are mostly attributed to unethical business practices, failure to embrace technological advances and stiff competition. The business selected to explore these concepts is the Hersey Company of Hersey, PA. This paper will be divided into seven sections. These sections will: 1. Describe the nature of this company and three key issues from the company's Code of Conduct will be examined. 2. The three key issues mentioned in section 1 will be compared to two competitors. The competing companies selected are Nestles USA and Mars, Incorporated. 3. Two potential positive outcomes and two potential adverse effects will be hypothesized if these competing companies either address or fail to address the key issues selected. 4. Two techniques will be proposed for the Hersey Company to use in order to ensure that its code of conduct will remain relevant through years of changing economic, political, social, cultural and technological forces. Two methods will be evaluated that Hershey's currently uses to manage environmental issues. 5. Two approaches that Hershey's uses to embrace technological advancements for innovation will be examined. Three potential technological challenges will be anticipated and one strategy will be recommended that Hershey's could use to eliminate or minimize each of these anticipated challenges. 6. One lobbying strategy that Hershey's has used to influence national or local governmental decisions in its favor will be described. 7. Two global corporate citizenship efforts of Hershey's and their effectiveness in accomplishing their goals will be analyzed. Section 1. The Hersh... ... middle of paper ... ...ment.aspx. The Hersey Company. (2/24/2013). Retrieved from http://www.thehersheycompany.com/ Lawrence, A. T. & Weber, J. (2014). Business and Society: Stakeholders, Ethics, Public Policy (14th ed.). Singapore. Mars, Incorporated. (2003). Retrieved from http://www.mms.com/. NestleUSA. (11/15/2007). Retrieved from http://www.nestleusa.com/ Punchcardblog. (9/10/2013). The Hersey Company and the Power of Brands. Retrieved from http://punchcardblog.wordpress.com/author/punchcardblog/ Selko, A. (9/25/2012). Hershey's New Plant Features New Technology for Industry. Retrieved from http://www.industryweek.com/strategic-siting/hershey-s-new-plant-features-new-technology-industry. Sifferlin, A. (11/8/2012). California Fails to Pass Genetically Modified Foods Labeling Initiative. Retrieved from http://www.cnn.com/2012/11/08/health/california-gm-foods/
“His decision to focus on the production of the Hershey milk chocolate bar is now hailed as one of the most important decisions in the history of American business” (Milton Hershey 1). Certain aspects of Milton Hershey’s life are impossible to not take notice of. A simple chocolate bar completely changed the world of business, Milton S. Hershey impacted the world in a huge way.
Jennings, Marianne M. Business: Its Legal, Ethical, and Global Environment. Mason, Ohio: Cengage Learning, 2008. Print.
The low-calorie, high-intensity sweetener market has been dominated by one major player, NutraSweet, with annual sales of $711M and about 80% market share (the total market in 1986 was $884M annual sales). NutraSweet, a monopolist in the industry, was able to charge premium prices and successfully capture the majority of the pie. Also, the market was expected to grow 15% annually, with a 70% projected sales growth in Europe and Canada. However, since NutraSweet’s original patents were due to expire soon (Europe/Canada market patent expires in 1987 and US in 1992), a new entrant was threatening to enter the lucrative low-calorie sweetener market – HSC.
The European Vice President of United Cereal (UC), Lora Brill, is confronted by a dilemma: to launch a new product called Healthy Berry Crunch as the first ‘Eurobrand’ or not. A wrong decision may destroy her career, especially since Healthy Berry Crunch is not only a new concept of healthy cereal, but also a pioneer of United Cereal’s Eurobrand, which is different from the company’s usual standards. On the other hand, if she makes the right decision, she may be able to grow the company to a whole new level.
Seawell, Buie 2010, ‘The Content and Practice of Business Ethics’, Good Business, pp. 2-18, viewed 22 October 2013, .
Research industry, target market, and competition. Indicate at least one positive and one negative factor for the current state of the industry, target market, and your competitors.
With the proliferation of the internet international Business transactions are more common today than ever. Globalization is now a key factor when creating a business strategy for most companies whether they are small family own businesses or huge corporations. Globalization however does not just involve selling a product in other countries. There are legal and cultural concerns that must be addressed. The legal aspects are fairly simple because in most places the laws are spelled out. It's the local customs, and regional way of doing things that can be tricky. Research on globalization has shown that it is not an omnipotent, unidirectional force leveling everything in its path. Because a global culture does not exist, any search for it would be futile. It is more fruitful to instead focus on particular aspects of life that are indeed affected by the globalizing process. (1). In this new economy, as it has been in the past, it will be the people not the machines who will determine a company's success. Having an effective Human Resource Management team that effectively analyze your company's current and future personnel needs is key in any business organization.
Ciulla, J. B., Martin, C. W., & Solomon, R. C. (2007). Is "The Social Responsibility of Business... to Increase Its Profits"? Social Responsibility and Stakeholder Theory. Honest work: a business ethics reader (pp. 217-253). New York: Oxford University Press.
McDonalds’ corporation is a leader in the fast food industry. Nonetheless, the corporation website has some drawbacks I terms of detailing the company’s social responsibility statements. As opposed to Starbucks, which delineates in a more precise manner its social responsibility statements, McDonald’s does not show its commitment in a clear way. Here are some of the aspects that were impressive when analyzing Starbucks business ethics and compliance standards of business conduct booklet.
This is a publicly traded company in the US that has been ding quite well in the recent years. The company’s 10k filing for the year 2014. From this statement, the risks facing the company will be identified classified and suggestions made on how best to mitigate them in the subsequent areas. There are various areas that the risks can arise based on the company’s 10k filling (Mertz, 1999).
Joe and Ellis Cook were two brothers who had made a decision in reproducing their mother’s old recipe of down to earth cookies, and with the growth and purchasing value added services their focus of making high quality based cookies would become a success. Throughout the process their focus on making their mother’s cookies had shown a commitment on their mother’s behalf without using the preservatives or additional additives in making the cookie delicious. DEC produced a sufficient procedure that created value with a focal point in delivering a soft moist cookie for the consumer’s taste-buds which was so full of flavor. In the midst of the necessities that they intended to have for the company’s success they began a process which gained customary commitments, value-added gains, and continuous improvements that would make the business become a successful achievement. Thereby, the effect of Down to Earth’s Cookies strategy in the market would then gain value-added commitments, quality, and satisfying the consumer’s needs.
Abby Willow once said, “The average American adult consumes 11.7 pounds of chocolate every year- that's the weight of about 6 pairs of shoes!” With so much consumption of chocolate by Americans, it is crucial for the numerous brands to advertise their products in a manner that could potentially dominate their competition in sales. There are endless ways for a company to draw the attention of an audience in order to take over the competition of chocolate sales. Advertising is a key aspect as to how successful a brand may be when compared side-by-side to a similar product. While Snickers and Reese’s Peanut Butter Cups are similar, they are also different; the differences are significant because they demonstrate how some competitors choose to go above and beyond for their advertising while others opt to take a route that is of a more simplistic nature.
15. Hill, Charles W.L. International Business: Competing in the Global Marketplace. New York : McGraw-Hill, 2007.
2. Why is it important for organizations to have a Code of Ethics and Sustainability Program?