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Red Bull Csr

Essay by   •  December 5, 2012  •  Case Study  •  3,524 Words (15 Pages)  •  2,347 Views

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CSR RED BULL

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Executive Summary

The overall purpose of this project is to develop a new and improved corporate social responsibility program for the company. The best managed and most successful companies in the corporate world always find ways to differentiate themselves from their competitors. Corporate social responsibility has a number of facets, and for Red Bull these include brand awareness, opportunities for management training, involvement in community, and staff engagement. The CSR program will make Red Bull a great place to work in because it aims to inspire individuals to be the best as they can be. In the contemporary employment setup, having satisfied employees saves the company a lot of trouble caused by job dissatisfaction and lack of motivation such as a high employee turnover and its related issues. Also, the whole program was expected to introduce a larger number of the public to a portfolio of a beverage of immense quality which anticipates and fully satisfies desires and needs of individuals. The partners of the organization, its suppliers and customers will be united in a winning network which will, in turn, create a relationship of mutual and enduring value. As a result, this program will see to it that the long term returns on investments of the shareholders of this company are maximized while at the same time being mindful of the responsibilities of the management of the company, its core values an culture, and the environment in which it plies its trade. All in all, the program aims to improve productivity by transforming the whole organization into a lean, highly effective and fast-moving organization. The financial objectives of the CSR plan is to increase profits by up to 15 percent and increase sales through appealing to socially responsible people. The paper entails a feasibility analysis of the program in terms of the market analysis, SWOT analysis, macro environmental analysis, and above all the projections of financial performance if the program is adopted by the company.

Introduction

Red bull is an energy beverage manufactured and marketed by the Austrian company known as Red Bull GmbH, founded in 1987. The company controls a significant portion of the market share and is regarded as the market leader in its field of energy drinks. It led other companies in terms of sales in 2011 by selling a total of 4.6 cans worldwide (Bodner, 2011). The company uses the slogan "Red Bull, gives you wings" in an effort to reflect the energy contained in the drink (Buchholz, 2008). In the contemporary market place, the company uses various promotional tactics to market the products, advertising being the lynch pin of the whole promotional campaign of the company.

However, the company also participates in events such as Red Bull Crashed Ice and Red Bull Air Race. In addition, the company claims ownership of numerous sports teams such as Red Bull Racing, Red Bull New York, FC Red Bull Salzburg, and Red Bull Brasil, among others. Its product is also promoted through celebrity endorsements, music and through its very own record label, the Red Bull Records (Bodner, 2011). However, the company has to step up its marketing strategies if it stands a chance to protect its market leadership against an industry which is becoming increasingly competitive. Each year, dozens of organization enter the market, and the company has to look for methods to improve its competitive advantage in an effort to beat back the ferocious competition.

As a result, the company has to come up with a new CSR plan in a bid to make itself as different as possible from its competitors and thus keep them at bay. Despite the fact that the company is already in many corporate responsible activities such as involvement in community and sporting events, and owns quite a number of sports teams, these would not be enough against powerful rivals such as Coca-Cola who employ similar techniques to gain customers.

Currently, the corporate social responsibility activities of the company include cliff climbing, Motor Italy, Extreme Sailing series, UCI mountain bike world series, F1 British, Vienna Air King 2012, Volunteerism, and Abu Dhabi Desert challenge (Bodner, 2011). Therefore, the new CSR plan will not be out of line with the already existing values and policies of the company of reaching out to the society through events and sponsorship. The initiative would involve sponsoring major athletics events such as marathons and then donate the proceedings of the events to worthy causes such as refugees, hunger and war victims, or children in need of expensive medical attention such as heart or eye surgery.

All other CSR activities of the company are all always localized, with the exception of the Red Bull F1 Team. Teams like New York Red Bulls usually affect the United States; Red Bull Brasil plays in Brazil and has little influence elsewhere, and so on. Therefore, the promotional campaigns of the company may be so diverse that it will soon lack that global appeal. Athletics is a universal sport and the athletes would hail from all corners of the globe, which implies that the plan would impact even the most remote places on earth (Mayer, 2009). From the highlands of Ethiopia to the deserts of Chile, Red Bull and its slogan would be on the lips of everyone. The marketing gains that such a plan would yield will be invaluable and unparalleled in the history of the company. The masses would have a new perspective of the company, they would see an undiscriminating and interactive organization committed to achieve its goals and objectives, but in the same breath give back to the society. Thus, if this plan is incorporated and adopted as a policy, it would primarily affect the marketing and finance departments of the company. This, however, would only part of an intensive CSR plan which would involve volunteerism, donations, and sponsorship activities.

Aim of the Project

The basic aim of this project is to create a new and improved corporate social responsibility of Red Bull, host charity events for the community, ensure that consumers are aware of the harms associated with use of energy drinks and donate funds to assist in diseases research as a way of giving back to the community. The mission statement of the company asserts that the company is committed to upholding its standards while maintaining leadership in the energy drink category by delivering

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