Corporate Social Responsibility (CSR) enables businesses to have a positive impact. This expression refers to choosing what is best for the business and surrounding environment. It is a delight for customers to purchase products from socially responsible firms. CSR increases consumer trust by boosting awareness and advancing social change. While many small firms contribute significantly, major multinational organizations have a more decisive influence and may substantially impact global challenges such as hunger, health, and climate change. This presentation will examine Coca-Cola and Pfizer’s CSR initiatives by demonstrating their beneficial influence on society and delving into their efforts to resolve ethical concerns.
Coca-Cola’s headquarters are in Atlanta, Georgia, in the U.S. It is actively addressing issues such as global climate change and the impact of poor packaging, agriculture, watershed management, and product quality. For water security, they recycle all of the water used in their products and every bottle and packaging (Brondoni, 2019). By 2030, they hope to reduce their carbon footprint by 25%. The majority of consumers are between the ages of 10 and 35. Coca-Cola protects the environment by practicing social responsibility, thus lessening the impact of global warming.
Pfizer’s clientele includes a wide range of pharmaceutical companies that distribute Pfizer-produced pharmaceuticals to health institutions worldwide. Pfizer contributes products, finances, and access solutions. When Hurricane Matthew hit, causing a global refugee crisis, relief was given to Haiti. NGOs help this money reach those affected (Muhammad, 2019). Pfizer’s Global Medical Grants program provided $5 million to combat COVID-19. Clinics, medical facilities, and hospitals received funds to improve COVID-19 patient care. Despite being established in America, the firm is prepared to help in times of need. Thus, Pfizer’s corporate social responsibility has helped society. Consequently, it has been able to expand its services abroad and become profitable.
Coca-Cola has been accused of racial prejudice, channel stuffing, distributor conflicts, union worker intimidation, and pollution. A few have been resolved through private agreements or judicial battles, while some remain unresolved. Coca-Cola is working to improve its monitoring and safety systems (Brondoni, 2019). If it can overcome its ethical concerns, learn from mistakes, improve, and avoid similar challenges, it will remain a dominant beverage player. Nevertheless, Pfizer is dedicated to discovering and developing new medications. Pfizer brags about its humanitarian attitude, yet it must be profitable for its shareholders (Muhammad, 2019). When making decisions, Pfizer must consider the impact on its public relations and its shareholder duty.
References
Brondoni, S. M. (2019). Shareowners, stakeholders & the global oversize economy. The coca-cola company case. Symphonya, (1), 16-27.
Muhammad, G. D. (2019). Research in social responsibilities, competitive strategies and prospect for Prizer. SKRIPSI-2019.