How Can an Emphasis on Ethics and Social Responsibility...

Group 1_PepsiCo April 3, 2013 HOW CAN AN EMPHASIS ON ETHICS AND SOCIAL RESPONSIBILITY IMPROVE PROFITS AND BENEFIT A BUSINESS? Introduction Until a few years ago, most companies had not cared so much about ethics and social responsibility. They only focused on cost and margin to increase their profits. However, nowadays, many successful companies and businessmen have their own foundation and do some good things, for example, the Ford Foundation has allocated millions of dollars for cancer research and the Bill amp; Melinda Gates Foundation has allocated millions of dollars for the poor’s health. They have contributed society with their wealth. Why are they doing that? Are they doing that for their self-contentment? This paper will take†¦show more content†¦Research According to University of New Mexico’s report, â€Å"PepsiCo has recognized the importance of social responsibility to its reputation. As such, PepsiCo continually emphasizes its commitment to sustainable growth and its focus on generating healthy financial returns, while giving back to those communities that it serves.† As a controversial company, PepsiCo used to be criticized by the customers about its unhealthy food. For that reason, PepsiCo stopped marketing their products to reduce more harm at that time. PepsiCo established a series of measures to reduce its negative effects and develop its reputation. PepsiCo made a â€Å"Performance with Purpose† plan which included three parts: product, environment and employees. â€Å"Performance with Purpose† was not only made for being a socially responsible company, but also for making profits to PepsiCo itself. PepsiCo committed itself to produce healthier food and reduce unnecessary additives. In this way, PepsiCo balanced the conveniences and healthy desires of customers. Meeting these desires of customers would gain their interests and trust so that the company’s product could be widely accepted. Meanwhile, PepsiCo strongly proceeded with its activities of â€Å"going green† which was the effort to make a favorable environment. By using clean energy sources such as wind energy in India; developing water cycles; reducing packaging pollution, PepsiCo reduced its carbon footprint and contributed toShow MoreRelatedEthics And Product Consumption Of Coca Cola1320 Words   |  6 PagesEthics and Product Consumption Marketing is only one intricate facet for any company sustainability. There are six components for the marketing code of ethics, also known as â€Å"the six pillars† of marketing (6PM). The 6PM components includes: 1) caring, 2) citizenship, 3) honesty, 4) fairness, 5) responsibility and 6) respect. All these components separately play a significant part in the marketing code. 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