The reasons why the FASB and the IASB seeking to converge and improve Essay

The reasons why the FASB and the IASB seeking to converge and improve their respective conceptual frameworks and why the project will take along time to complete - Essay Example Following are some of the reasons for the convergence of accounting standards. †¢ Harmonize the global accounting standards so that the users of financial statements feel harmony with rest of their other counterparts anywhere across the globe. †¢ Making the financial statements of the entities comparable all over the world in respect of the accounting policies used by the entities †¢ Eliminating the impact of biasness and partiality from the financial statements such that integrative and objective financial statements can be prepared †¢ Providing opportunities especially to multinational companies to prepare their financial statements on the basis of single common accounting standards so that the manipulations and misrepresentations can be avoided while formulating the consolidated financial statements of the whole group of companies In bringing more convergence in setting the accounting standards, yet there is a long period of time required for this purpose. Some of the reasons for such possible extended time to be taken are as follows: Legal and regulatory stoppages and restrictions which do not allow the accounting standard boards to bring so early changes in the accounting standards merely on the basis of producing more convergent accounting standards. Laws of the jurisdictions ask some real and substance based reasons to bring such changes in the accounting standards. ... Therefore practically once the accounting standards are reformulated, their adoption takes two to three years by the entities in their implementation. In a nutshell, the main hurdle for setting up the new accounting standards for the purpose of convergence, is posed by the regulatory bodies and persuading them for such changes require substantial amount of time and efforts followed by the time taken by the entities to adopt the new accounting standards after their formulation therefore making it more longer for the accounting standards to be convergent globally. Discuss the problems involved in refining, updating, completing and converging the existing FASB and IASB conceptual frameworks into a common framework, illustrating your discussion with reference to specific issues. Discuss that are controversial and difficult to resolve The major problems that arise in refining, updating, completing and converging the present accounting standards issued by FASB and IASB have significant imp lications. Most of the problems are of technical nature however some administrative issues that hinder the convergence process cannot be altogether ignored. In the following discussion some of those problems are highlighted. Retrospective changes in the financial statements In developing new standards which are more convergent in the form of a common framework, both FASB and IASB have to change their existing frameworks altogether. Due to those changes, the financial statements previously prepared under each of the accounting standards would have to be changed by the entities on retrospective bases under newly developed common framework which may display some material diversions as compared to the previously furnished financial statements. In this way the financial

Nutrition Questions Essay Example | Topics and Well Written Essays - 1000 words

Nutrition Questions - Essay Example ure of the nutrient breakdown often results in a lack of energy, excessive sleepiness, or similar problems that would otherwise act to counter weight loss gains. As a result of these limitations one’s overall perception of fad diets and drugs is highly suspicious. Adolescence has been defined as a developmental stage distinguishing childhood from adulthood. While the age of 18 is the legal definition of adulthood, the actual developmental transition is determined by psychological and physiological factors. One of the predominant developmental stages associated with adolescence is puberty. As adolescence is a pivotal developmental stage there are a number of nutrition-related problems associated with it. One of the most prominent nutrition-related problems of adolescence is that of malnutrition, particularly its effect on weight gain. While the high numbers of adolescents that are overweight is in great part due to a lack of exercise, a nearly equal problem is overeating, or eating the wrong foods. Another issue is that of under nutrition. Particularly in the cases of anorexia, adolescents are particularly apt to these as they face the challenges of the teenage years. As this is a critical growth period proper nutrition is important as it has been shown to affect health in later life. Specific health problems from poor adolescent nutrition include osteoporosis, heart disease, and diabetes. Other potential problems related to nutrition include stomach and kidney pains brought on by bulimia that, like anorexia, is another frequent disorder related to the adolescent development stage. In addition to these noted nutrition-related problems adolescents in this development stage are susceptible to many of the same nutrition related problems of regular adults; over consumption of daily vitamins can cause a series of health related problems. Ultimately, because of these issues it’s highly important for adolescents to pay particular attention to their nutrition and

Five key objectives for Eastman Kodak Essay Example | Topics and Well Written Essays - 1250 words

Five key objectives for Eastman Kodak - Essay Example According to the paper  Kodak was considered as the most profitable corporation in America, which gave its shareholders a return of 18% for many years. The company has continuously invested in developing its competitive advantage in photography business. It is observed that 40% of the revenue of company came from outside United States (US). Though the company had encountered huge profit but the situation was not the same over the past few years as it encountered external pressure in form of competition.This essay discusses that  the new objective changed the imaging group of Kodak which included motion pictures, consumer products and audiovisual products, consumer electronics and photo finishing. The new objective filled the gap in the product line by introducing several new products, which are either prepared by Kodak or any Japanese manufacturers or sold it under the name of Kodak. In order to manage the market share of the company, Kodak took major steps to solidify the market of film processing. It has strategized to stem the flow of low cost foreign photography papers for acquiring control over processing market. The company has also acquired many companies in order to make its base strong in electronic photography sector. This acquisition increased the number of customers for chemical paper products. The declining profit of the company was forced to maintain tits level by massive cost – cutting, which improved efficiency of the products related to photography.

Financing, Liberal Arts, and Equity Assignment Example | Topics and Well Written Essays - 1000 words

Financing, Liberal Arts, and Equity - Assignment Example I would also describe the curriculum I want to teach in future and how? Then I will discuss the problems I have faced as a professional teacher. In the end, I would like to state a detailed conclusion to give a clear picture of America’s education system as well as challenges of this system and what measures should be taken in order to transform it to the world’s best education system. Financing, Liberal Arts, and Equity In all the states of America there are many schools that are truly dependent on the taxes from various local groups and one of the main issues we Americans are facing is the uneven distribution of all those taxes. If in future we will be able to solve this key issue then 80% of the financing problems of our schools will be solved. Moreover, in America the allocation of funds for primary and secondary education is only 7 %. This apportion should be more so that the field of education should get a slightly bigger share to accomplish its goals effectively. As per my five years of experience in this field of teaching, I have come across many challenges as a professor. One of them is finance definitely. In order to finance schools in America we can limit a share from everyone’s salary to be collected on the first of each month and delivered to the schools. It would work in this scenario that let us say there is a school in any location. We can gather a small amount from the people’s salary around there and submit it to the school in that location. Once we apply this practice, I am sure we can generate handsome money, each month for the improvement of the school. In my views the last one is the most optimum and easiest way to increase educational funding for all schools in America. Besides financial issues, I have also faced many problems while dealing with students and their parents. I must say that there is a proper mechanism that should aware students regarding liberal arts as well. According to Professor Thomas Green ( Few Years Back), â€Å"We are born into the world, but we are educated into the possession of our powers for the exercise of intellect, emotion, imagination, judgment, memory, observation and action....† A scientific study gives a scientist to a society; study of arts produces an artist but studying liberal arts makes you a learner for the rest of your life. Liberal Arts actually unshackle your mind to study whatever you want to study in a precise manner, whether it is science or arts. Studying Liberal Arts makes you a good learner or you can say a life time learner. It makes you a critical thinker so that you can develop the skill of thinking critically for any matter that comes across in your life. It makes you a proficient problem solver as well as an efficient manager so that you can develop excellent managerial skills in yourself. Liberal Arts give the concept of team building and collaborative thinking to solve your issues collectively, no matter whatever you are. Moreo ver, I think studying Liberal Arts is the most efficient way to aware oneself with all the aspects of arts, science and technology. Therefore, in my views, it is a subject that should be given great importance and significance in secondary and post-secondary education because Liberal Arts builds confidence in students as well as teaches them the art

UK insurers can no longer safely insure the risk of flood within the Essay

UK insurers can no longer safely insure the risk of flood within the UK and home and business owners will have to look out fo - Essay Example The rapid development of the insurance industry borrows from the fact that inhabitants have the wealth and can readily afford to ensure that their security is vastly cared for hence resorting to investment in their security and that of their wealth. The insurance industry undertakes a wide range of covers from fire, accidents, and financial loss agricultural risks and to the extreme floods risk policies which were developed recently to cover the risk of floods on property owners, businesses as well as home-owners. Need for flood insurance The current debate on whether insurers should continue providing covers to flood and flood related cases has become very fierce. UK citizens see it as a necessity for their security and hence demand for such covers as well as advocacy for the government to regulate the industry through policies that suite the consumers of the product. On the contrary the insurers argue that despite introduction of the flood and flood insurance products its nature po ses very great risk and high costs in its insurance. Choosing your flood insurance or insurance cover is an important decision that you should not be rushed into or about. So much has to be considered before making a choice on an appropriate cover is made. Time should be taken by the buyers of covers to ensure that they are exposed to all the available flood insurance covers. This information is available from several sources ranging from insurance firms, government all through to the various media sources. Shopping around various information sources is done to ensure that the consumer of the products get well- priced and competitive flood insurance policies (Evans, 2005). In the UK getting a flood zone insurance policy will help you feel at ease when emergencies like floods arise. Whatever the state of your house is, whether bought or undergoing the payment of mortgage, you should get adequate insurance so that if your house is damaged beyond repair, your insurance policy will cove r the replacement price or cost of rebuilding a new and similar house incase its completely destroyed. Requirements for a better flood insurance cover When a consumer makes a choice where to get a flood zone insurance cover, the consumer can then just fill the forms sent by the insurer providers and may even do enquiries on more information to ensure that no mistake is made as the form is being filled as this may be all against the consumer himself. The buyer of a product must also take into consideration the price quotes included in your flood insurance cover. There may be expensive quotes that may include cover for risks that that are irrelevant to the needs of the consumer hence not actually needed, therefore should be avoided buy the buyers hence choice of the price quotes that cover vital things relating to the risk of floods (Gammell, 2009). Honesty with your flood zone insurance cover providers should be highly maintained. Tell the insurers about the contents of your home ful ly if for example it is contents cover you are taking. Your future insurance claim may be at loggerheads when you become dishonest with your insurance company. Honest and full discloser of information is done during the assessment phase by the insurance support staff. But as it’s the practice, the Insurance companies will usually ask buyers of covers to get a policy for both their buildings including the contents of your property, the same requirement are demanded from the business

Hilton Hotels Corporation Marketing Analysis Essay Example for Free

Hilton Hotels Corporation Marketing Analysis Essay The marketing issues addressed here are focused on how to draw more consumers from other gambling casinos, and how to make Hilton a resort destination. Two-thirds of Hiltons total operating earnings in the early 1990s were derived from the four casinos they owned in Las Vegas, Nevada. Expanding on this idea will ensure the hotel chain firmly plants its feet in the entertainment and resort business (Hilton Case Study). By investing massive amounts of revenue into developing their gaming division, the Hilton will become a destination resort that would encompass of all the guests needs to keep them interested staying within the confines of the resort. Some considerations include how Hilton would get its market share of the billions of dollars in casino revenues. The percentage of gambling versus side attractions will influence the profit margins, depending on how much focus is placed on each area. The hotel chain can also strive to increase its overall occupancy rate of seventy percent while continuing to set the industry benchmark (Hilton Case Study). In researching how to improve marketing to attract customers, we must first look at where the Hilton stands today. Second, we must analyze what has worked in the past and see if we can apply past practices into the current market. Third, we shall look at how the competitors are more effective by looking at their gaming plans, marketing structure, customers spending habits and dollar/cost value based on guest surveys. Hilton entered the gaming market as an attempt to compete with the other big hotels for the gambling dollar. Investments in renovation and expansion caused Hilton to over- extend. Although the investments were needed to compete, the hotel chain felt it needed to lure big money to its locations, and extend credit more than usual. Heavy hitters receive this same courtesy from other hotels, but this puts a strain on the operating cash flow, as chasing bad credit costs money, and slows up cash flow. Gaming revenue was already down, which was attributable in part to renovation and more so to extended credit that had been difficult to reclaim. In todays market, families are a prime target. Big beautiful hotels are  catering to families all along the Las Vegas strip. Gambling is still the main focus, but todays gambler is more inclined to visit the Casino Resort, a place that the kids can stay, have a good time and be entertained. Meanwhile, the parents can drop next months mortgage money at the casino. This type of package appeals to the whole family. As far as quality of service, no one does it better than Hilton, because they create an environment that the customer, family or non-family guests will remember and to which they will want to return. The focus on entertainment is important, but Las Vegas is still sin-city. Three point six billion dollars have been spent in packaging entertainment; focus on the family is important, but a balance of adult-only and child-friendly entertainment is required. Gambling is the central purpose for casinos to exist. Continue to market the standard tables of chance, card tables, slot machines, and lavish floor shows, with headliners people recognize, and the main source of revenue will continue to flow. Have shopping, kids activities, and outdoor recreation available, but not as the focus of why travelers should visit, and that will provide entertainment for the rest of the family. Hilton should pull back the extended credit. By doing so, they may lose a few customers, but the resulting loss of risk will increase bottom-line profit. By changing the focus to families, the customers that discontinue patronizing the hotel for credit line reasons are not the desired target anymore. The chain should pay more attention to the middle-market segment, conventions, and sporting events such as youth tournaments and professional venues. In volume, the more people that move through the doors, the more money there is to be made. With this said, room rates must stay within the $100.00 a night rate with weekend promotions of Thursday through Sunday at a lower rate; perhaps 25% to 35% lower. This would be a novel concept, as the industry generally promotes lower room rates Monday through Thursday. The food and beverage structure should remain the same, as it has proven to be more than adequate and very popular. The increase in competition can be dealt with through better values in room rates, childrens activities, slot machines that pay off more frequently and the most important aspect of the business, service. Hilton could offer something that the other hotels do not: ensuring the employee responses to each customers needs are met with enthusiasm and expedience. People are paying for an experience along with the opportunity to break the house; give them what they are looking for. Word of mouth is far more powerful than any media advertisement. Hilton has entered the gaming industry. Gaming must focus on gambling and hotel must focus on hotel amenities and service. It would be the hotels responsibility to insure the entertainment, promotions and accommodations were settled; leaving the gaming operations to generate gaming interest. Advertising would be a joint effort, but casino operations would focus on the age 21 and older market. The two operations would report to the Chief Executive Officer and his staffs to ensure all objectives are met. It would be the CEO and staffs responsibility to ensure both lines were working hand-in-hand, while maintaining separate operations. The purpose for this suggestion is to keep revenues separate so one function does not bear the full brunt of any losses that may occur. The casino will always show a bigger profit than the hotel, but by having separate bottom lines, profit and losses are easier to control. The hotel/casino is one business, but must have two different mindsets as the casino and hotel does, and will operate much differently. Situational AnalysisThe U.S. based Hilton Hotels Corporation is a multi-billion dollar corporation and a leading brand in the hotel and gaming industry. Conrad Hilton started the company in 1919 with his first hotel purchase. Since then the company has grown to over 2,000 hotels globally, with several brand name acquisitions, including Ballys, Hampton Inn, Doubletree Suites and Homewood Inn. Besides standard hotel service, the Hilton Corporation runs casinos, vacation ownership businesses and luxury hotels, like the Conrad Line. The Hilton Hotels Corporation earned in excess  of $3.8 billion in fiscal year 2003 (Datamonitor, p. 4). External FactorsAccording to the Datamonitor report, the Marriott and Hyatt Corporations are the Hilton Hotel Corporations biggest competitors. Las Vegas is a gaming town, thus every hotel is expected to have gambling casinos within. The Las Vegas Hilton website shows that they also provide live entertainment, including comics and headline musical acts, as well as hosting a million-dollar Blackjack tournament. These factors, along with the attractive room packages and gambling activities, should be enough to maintain the occupancy rate and keep the gambling action constant. According to its website, the Las Vegas Marriott is a hotel with 278 rooms. The Hyatt franchise is located 17 miles away from the Las Vegas strip on Lake Las Vegas, but is a resort, casino and spa. While the Hyatt is a luxury hotel chain, the Marriott is a corporation more in line with Hilton. The Marriott made over $9 billion in fiscal year 2003; more than three times the Hilton Hotel Corporation (Marriott Datamonitor report). To contend with a company of this magnitude is not an easy job for any of their competitors. Hilton Hotels Corporation is an enormous company as mentioned above; so sizable that they had to split the corporation into six main divisions, totaling approximately 100,000 employees worldwide. Hilton Hotels Corporation has been very successful since they were established in 1946. Their diversification profile is significant and ambitious; no matter where you go, there are Hilton hotels there. In addition, Hilton Corporation has been leading in customer service and efficient staffing by utilizing a call center to help them maintain their reputation for hospitality. Hilton Reservations Worldwide handles reservations and information requests for thousands of hotel properties, under their various brands, positioning the company on the top of: †¢ Accurate intraday forecasts†¢ Reduced management costs†¢ Excellent customer service †¢ An edge over the competitionA companys strength does not solely lie in the size of the company but in the management of the company, the employees and their commitment to their customers. Hiltons management promoted brand relevancy within minority markets. Their sales team strategic initiatives are to target the multicultural market. In relation to their employees, Hiltons are some of the finest. They are trained to do their jobs with care and make sure the customers are comfortable and happy. The customer personal profile allows the Hilton employees to treat each customer as a unique and special individual. WeaknessEvery company has weaknesses; Hilton Hotels weakness lied in its inability to recover quickly from the attacks on America in 2001. Although Hilton Hotels is a large company in many locations across the country, they had to reduce their manpower due to the decline in business. Matthew J. Hart (president and CEO) said; we have had a lot of job losses about 2,500 full-time equivalent jobs out of a worldwide workforce of 100,000. But we have no plans for any more, unless business gets worse (Finch, 2001, p.1). The September 11th attacks left the whole nation in awe, in grief, and for many New Yorkers, jobless. The attacks left the airline and hotel industry to recover from lost sales. Another weakness the hotel industry is facing is the evident decline in supply. The below chart shows how the demand to occupy the Hilton hotels has been a declining behavior during the last years:A closer examination of the demand cycle for economy hotels during the past several years reveals a pattern that is not consistent with other hotels. The rate of demand growth in this segment began declining during mid-2000, about nine months before a similar effect was felt industry-wide. In addition, as the industrys demand recovery has begun to accelerate the rate of demand growth, the economy segment has plateaud. Of even more concern is that the number of rooms currently being purchased in this segment is still declining when compared to previous-years levels. (Look Smart Articles, 2004, p.1)OpportunitiesAs mentioned earlier, Hilton Hotels Corporation is known worldwide; with this notoriety their reputation will carry them to expand their hotel empire even further. Their opportunity lies in the growing international market. The company is expecting 4-5% fee growth in 2004 within; new management contracts in Austin, Houston, Omaha and Conrad Miami. The company market overview reveals that recent trends in major markets are:†¢ Strong in New York, D.C., Hawaii†¢ Stable in New Orleans, Boston†¢ Weak in San Francisco, ChicagoThere will always be a demand for hotels and resorts. Currently, Hilton Hotels are working on more room availability; 80% of rooms have been renovated within last five years, and they are expanding into new markets. They also have Best Rates. Guaranteed, Internet easy access with a success rate of utilization from the customers:†¢ 13% of all reservations†¢ 85% through proprietary websites†¢ Self-service kiosksThis kind of service assists in making the experience convenient for the customer. Along with the convenience, Hilton Corporation and their six divisions take pride in making every building fee l like home and ensuring the customer is satisfied and pleased with their accommodations (Hilton Hotels Corporation, 2003, s.3-5). ThreatsA few of the threats for The Hilton are competition, and a declining economy. The competition for The Hilton is not only other hotel companies, but restaurants and other service centers as well. Marriott is the main competitor of The Hilton amongst other hospitality companies. Because Hilton is so grand and reputable, they have more room for error, which also makes them vulnerable. As time passes, the Hilton Hotels continue to strive for excellence and perfection. They make each new hotel or resort better than the last. Because of the continuous growth of this company, it has dealt  with its competition head on (Nairn, 2001, p.3). The second threat is the economic decline of this century. Since the September 11th attacks in New York City, the American economy has been declining in all service industry areas. There was an ominous fear of flying and for quite some time, many people chose not to travel for vacations or long-distance business trips. This reaction to the events of 2001 hurt the hospitality industry, and made difficult rebuilding what they lost in revenue. Fortunately, this trend has started to change and the industry will soon recover from their losses. This is an area that still needs close monitoring from the executives of the corporation. References Datamonitor Hilton Hotels Company Overview August 2004. Datamonitor Marriott International Inc. Overview August 2004. Finch, J. (2001, November 16). Hilton reports impact of September 11. Retrieved October 26, 2004, http://www.union-network.org/unitourism.nsf/2c89b80c011f2519c1256b06002163c2?OpenDocumentHotels Hilton Hotels Corporation. (1998, Fall 1998). Corporate History. Retrieved October 26, 2004, Http://hiltonworldwide.hilton.com/en/ww/company-_info/corporate_history.jhtml;jsessionid=FGTDSXUCGXCGSCSGBIX222QKIYFCXUUCHilton Case Study. https://mycampus.phoenix.edu/secure/resource/resource.asp Retrieved October 23, 2004. Hilton Hotels Corporation (2003, July). Hilton: Great Brands and a Balanced Business Model (presentation). Retrieved October 26, 2004, http://media.corporate-ir.net/media_files/NYS/HLT/Hilton%20Presentation%20February%202004/tsld002.htmhttp://www.lakelasvegas.com/http://www.lv-hilton.com/http://www.vacationclub.com/en-us/vc/about/marriottworld/lasvegas.asp?cookies=trueLook Smart Articles (2004, January 14). Economy segment lags industry in key performance measures Trends Stats. Retrieved October 26, 2004,

Coca Cola Crisis Case Study Commerce Essay

Coca Cola Crisis Case Study Commerce Essay Coca Cola Company is the worlds largest beverage company with manufacturing, distributing and marketing of non-alcoholic beverage concentrates around the world. Coca Cola brand and formula was bought by Asa Candler in 1889 who integrated the Coca Cola Company in 1892. Coca Cola offers almost 400 brands in more than 200 countries. CSE had a press release which stated some 12 cold drink brands in and around Delhi contained a deadly cocktail of pesticide residue in it. The tests were conducted by the Pollution Monitoring Laboratory which found 12 cold drink brands containing pesticide residue exceeding the global standards by 35 times. Since the Bureau of Indian Standards (BIS) has an unclear and indeterminate standards for pesticide residues, CSE used the European standard for maximum acceptable limits for pesticide in package water. The pesticide that has been found, harmful for the human body, which were known to cause cancer, birth defects and severe damage to the immune system, nerves and reproductive systems. Analysis Many of the scientists have been arguing that the pesticide which is a by-product of Indias agriculture industry leaked into the groundwater which Coco Cola uses for the manufacturing of the drinks. Most of the industries in India are required to meet an acceptable amount of pesticide allowed but when tested; the level was far more than the acceptable level. In a matter of only 2 3 weeks the sale of Coca Cola dropped by 40 percent. The President and CEO of Coca Cola India, Sanjiv Gupta denied the allegations made by CSE also stated them to be unaccredited and misleading. They even challenged the credibility of CSE and their results and are planning to make the data public. On one hand the tests done by CSE, resulted in the exceeding presence of pesticide in those 12 samples but on the other hand when the government did the tests, it found no unsafe level of pesticide which was stated by the Minster of health and family welfare. CSE disputed the testing and stated that both the results cannot be right. Later Coca Cola hiked the prices by 15 percent in India giving the reasons that the hike in prices will cover up the increase in raw material, the cost of distribution and also the effect of the false pesticide accusation which led to a decline. This uproar also crossed across to the United States where the University of Michigan stopped the sale of Coca Cola products along with universities like New York University, Rutgers University New Jersey and Santa Clara University California which also stopped the sale of Coca Cola products. All these universities had a 1.4 million contract with Coke. In India, Coca Cola teamed up PepsiCo on a campaign to prove that their products were safe and they also issued a combined statement in the crisis through ISDMA (Indian Soft Drinks Manufacturers Association). They also stated that the customer safety was their priority and that the soft drinks which are manufactured in India fulfil the international as well as the national norms and regulations. Coke was under a lot of pressure by the protestors, who even attacked the shops in Delhi which sold Coca Cola products. The Indian Supreme Court also pressurized the company to reveal the secret recipe which has been kept a secret for almost 120 years, so that more testing could be done. States like Gujarat and Madhya Pradesh banned the Coca Cola products and wanted a nationwide ban. Sales dropped by 40 percent and also the Coca Cola Bottling Company stock went down 5 percent. This is arguably the biggest controversy in Coca Cola Company in India. Coke concentrated more on the arguing the allegation made by CSE of the pesticide charges instead on concentrating on getting back the support of the customers, especially in India. This caused a backfire as stated by Richard.S.Lewick who specialises in crisis management. All this led to the main concern of winning back the support of the consumers, quality issue, environmental issue and political issue. THE STAKEHOLER THEORY MANAGEMENT EMPLOYEES INVESTORS COCACOLA COMPANY SUPPLIERS LOCAL COMMUNITY GOVERNMENT CONSUMERS CUTOMERS The table below states the degree of importance and the power of influence of each stakeholder individually: STAKEHOLDERS DEGREE OF IMPORTANCE POWER OF INFLUENCE Employees 5 4 Investors 5 4 Suppliers 5 4 Management 5 5 Consumers 5 4 Customers 5 5 Government 5 5 Local community 4 3 Recommendations I hope the following recommendations and strategies will help Coca Cola rebuild its image and reputation in India to increase sale of Coca Cola products, improve the ratings and also earn the trust of the people in India. Internal recommendations: The first priority should be to re examine the testing amenities and update the water purification system throughout the plants in India since the company dedicates to offer healthy and refreshing products. The employees should also be regularly updated on how the crisis is being administered. A mandatory bi monthly meeting should be held which will brief on the lab results, procedure and the new policies. A toll free 800 number can be created where the customers can call and ask the operators with any questions they might have and want cleared. External recommendations: Immediately after the CSE allegations and the press release of high level of pesticide in Coca Cola products, the President and CEO of Coca Cola India should have held a news conference addressing the issue and assuring the public that the company is dedicated to offering high quality product and that the Coca Cola independent tests have resulted in the support of the standards set by the European Economic Commission (EEC), and the officials also had to take care of not admitting to the guilt but assuring that the company is dedicated and loyal to the safety of the people and always keeps on researching on improving all the products. The company should also have increased the transparency by making the lab results public on quality control etc., on their website. Instead of attacking the CSE for the allegations made by them, joining forces with them will help a lot in solving the problem which would avert the loss of customers in India and also around the world. Coca Cola Company could also have stated that the tests done by CSE, was done by a third party. The company could have been less offensive which would make the public believe that the company is taking this matter seriously and they do care about the health and safety of the public. Another recommendation can be a case of DENIAL i.e. Coca Cola India can just ignore the allegations made by CSE. Coca Cola being a powerful brand could deny the allegations, by just ignoring it because eventually after a while the people will forget about it. This is a simple alternative but it can also backfire because the reporters are known to criticise and make an issue through media. Even though the NGOs are small but the public trusts them more which could turn out to be a disaster for Coca Cola. Just as in the case of Belgium, a couple of years earlier, Coca Cola India could arrange a PR campaign which would help them regain customer loyalty. In the case of Belgium, the company there arranged a PR campaign in which vouchers, products being delivered to the house were offered which worked for Belgium because it only consists of 4.4 million households which is comparatively less to that of India. So the PR campaign plan has to be tailored to reach out to the people in India. It can also show and demonstrate that Coca Cola is not just a huge greedy company which concentrates only on profits but is a global citizen which also gives back to the people of the community. CONCLUSION It can be assured that the recommendations and strategies mentioned above will prove itself to be socially and environmentally responsible which prioritizes the safety of the public in providing safe and delicious soft drinks which will eventually lead to the sustainability of the Coca Cola India.co and its profit. The crisis spotlights on the factors that commodities like clean drinking water cannot be taken lightly and is a serious matter which need to be made a priority and the quality of the product should continually be examined and updated. The analysis of the crisis regarding socio- ecological and political changes, all are covered here as in the government taking a stand, environmental measures and public safety.