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Account theory:The Coca-Cola Company - Essay Example

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Account theory:The Coca-Cola Company

Unfortunately, despite efforts by philosophers and theorists, one can see that individuals and businesses have not been able to fulfill the ethical requirements that often result in unethical practices, disasters, public controversies, scandals, etc (Crane, 2007, pp. 19-24). In other words, business ethics seems a theoretical world, as such principles rarely exist in the real world. In response, theorists have played a critical role in explaining the reasons and processes at play in disasters and controversies; it will be the major focus of this paper as well. For instance, a range of accounting and ethical principles exists in business organisations but it has been observed that owners and decision-makers are always busy giving profitability the highest priority; this subsequently creates problems. Discussion in this paper will include the endeavour of the researcher to scrutinise a case study of Coca-Cola (2011), one of the leading organisations. This will allow an understanding of how disasters or controversies occur and how such companies deal with them by looking into the scenario through the lens of accounting theories. The Coca-Cola Company Before analysing the controversy, it is essential to acquire basic information about the company that will make it easier for the reader to understand rest of the process. Coca-Cola (2011) was not born as a leading global company during late 1880s, but it went on to a unending journey where now it is a leading company in different parts of the world with roughly 450 brands and 2750 drinking products alone in different parts of the world. Although drinking brands of Coca-Cola, Sprite, and Fanta (Coca-Cola, 2011) have become the major symbols of the company, the company is running its operations in various countries with a rough count of around a hundred thousand employees. This indicates the number of stakeholders it has and the possible seriousness of outcomes of any controversy. In particular, some of the major stakeholders associated with the Coca-Cola Company are their “investors, shareholders, bottling partners, governments, NGOs, suppliers, local communities, employees, customers, and most importantly, consumers” (Coca-Cola, 2011). CASE STUDY The discussion will now focus on the controversy of the Kala Dera Bottling Plant division (Srivastava, 2007) of the Coca-Cola Company that forced the company to face remonstrations from villagers and consequently led media and social organisations to become a part of the controversy during 2005. Analysis (Srivastava, 2006) has indicated that the Coca-Cola Company confronted the same protests in other rural parts of India; however, it did not give it importance and continued its business functions caused a huge controversy, which damaged image of the company globally. Critics (Srivastava, 2006) have pointed out that the company was relying on agricultural lands to set up its bottling plants in India, in order to have a continuous supply of water and thus, Kala Dera village was one of the selections of the company. The controversy and protests began when it was observed that there was a radical lessening in the levels of groundwater after twelve months of the bottling plant opening (Drew, 2008, pp. 32-40) that a disaster for the villagers who were farmers, as their family income was at stake. In addition, reports showed that after opening of the plant, women faced difficulty in getting water due to scarcity and the water was only available kilometres away from the village (Hoffman, 2006). Moreover, as women did not travel alone, ...Show more

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For several decades, human societies have always considered ethics and accountability important components of processes that result in the creation of ethical values, and in the theories that allowed humans to acquire an understanding of the whole process…
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Account theory:The Coca-Cola Company essay example
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