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It also published opinion and editorial pieces written by prominent figures in the women’s rights field to express the importance of female empowerment toward policymakers.Coca-Cola also focuses on partnerships in order to gain access to resources globally and create the most powerful impact possible.The tragedy of the commons, of course, can be averted if individuals behave altruistically, and voluntarily act in the interests of others in the wider community.
Only then does CSR become the business equivalent of altruism at the individual level, and help avert the tragedy of the commons.
It is an empirical question whether firms in fact do practice (and not just proclaim) CSR and help avert the tragedy of the commons.
As one of the largest and most influential corporations, the Coca-Cola Company plays a large role in the global community.
In 2010, Coca-Cola developed the 5by20 Initiative to help five million female entrepreneurs across the company’s chain of producers, distributors, recyclers, supplies, retailers and artisans.
She discovered that Coca-Cola used assurances, or acknowledgments, of female empowerment in economics was an important cause and developed relationships with policymakers and experts in support of the 5by20 Initiative.
Write Good Introduction Analytical Essay - Corporate Social Responsibility Case Study Coca Cola
This allowed the company to advocate for women’s economic empowerment.In Great Britain, 'Coca-Cola' has been a member of Business in the Community for many years, which works with its partners and The Prince's Trust to involve corporations, large and small, in their local communities.'Coca-Cola' is also a member of The Per Cent Club, a group of leading national and international companies that are committed to making a significant contribution to the communities in which they operate.They also used openness, allowing stakeholders to be honest with the company in regards to their success, failure and challenges in the 5by20 Initiative. Sharing tasks allowed the network involved in the initiative to spread globally between organizations, people and local governments.This also encouraged the support of major partners and legitimized the cause due to so much global involvement. The company bases their corporate social responsibility on the platform of sustainability.To qualify for membership, businesses must contribute not less than 0.5 of pre-tax profits to the community.In one of the most cited scientific articles ever written, Garrett Hardin outlined ‘the tragedy of the commons,’ as a powerful metaphor that the users of a commons are caught in an inevitable process that leads to the destruction of the very resource on which they depend.Due to the very nature of the commons (especially if it is large and complex), it is rarely feasible to assign property rights to firms individually.Moreover, private ownership by large corporations of the commons, which are often perceived as public goods, would be politically difficult in most democratic countries.In order to economically empower the five million female entrepreneurs, Coca-Cola provided them with financial resources, mentoring opportunities and business training to connect with stakeholders around the world.Mary Claire Schulz, a strategic communications student at Elon University, conducted an in-depth analysis of the initiative.“My findings explore how Coca-Cola uses a number of different strategies to build relationships with policymakers, women’s empowerment-focused partner organizations, and women involved in 5by20, in addition to how the company communicates these relationships to the general public,” Schulz said.