Exercise 10bdoes Hershey Company Or Mars Inc Win On Sustainabilityp ✓ Solved
Exercise 10B Does Hershey company or Mars, Inc. Win on Sustainability? Purpose Sustainability reports are increasingly becoming expected or even required by business organizations. this exercise will give you practice in comparing and evaluating sustainability reports. at the website, click on “responsibility†and view the 2-minute video by clicking on “Shared goodness.†then click on “cocoa Sustainability†and read the information. next, click on “nutrition & Well-Being†and read through that information. a major rival of Hershey is Mars, Inc. go to the Mars’ website at aspx and read about Mars, Inc.’s five principles: Quality, responsibility, Mutuality, efficiency, and Freedom. compare and contrast Hershey’s business ethics, social responsibility, and environmental sustainability efforts with Mars’ efforts.
Instructions Step 1 Determine the six best aspects of Hershey’s business ethics, social responsibility, and environmental sustainability efforts. Step 2 Determine the six best aspects of Mars’ business ethics, social responsibility, and environ-mental sustainability efforts. Step 3 Develop a report comparing and contrasting the two companies with regard to business ethics, social responsibility, and environmental sustainability. in your opinion, does Hershey or Mars receive a grade of a on their business ethics, social responsibility, and sustainability efforts? grade each company on the three dimensions, and give each an overall grade. Justify your grades.
Paper for above instructions
Comparative Analysis of Sustainability Efforts: Hershey Company vs. Mars, Inc.Introduction
In a world increasingly focused on sustainability, companies are under pressure to showcase their responsibility towards ethical business practices and environmental stewardship. This report compares the sustainability reports of two leading players in the confectionery industry: Hershey Company and Mars, Inc. Using their published sustainability initiatives and principles, we will analyze and evaluate their business ethics, social responsibility, and environmental sustainability efforts.
Hershey Company: Key Aspects of Business Ethics, Social Responsibility, and Environmental Sustainability
1. Cocoa Sustainability Program: Hershey is dedicated to creating a positive impact in cocoa farming communities by committing to ethical sourcing practices and supporting farmers through training programs (Hershey, 2023).
2. Nutrition and Well-Being: Hershey places a significant emphasis on promoting nutrition and overall well-being. They are actively reformulating their products to reduce sugar and calories while enhancing nutritional value (Hershey, 2023).
3. Transparency in Sourcing: Hershey maintains transparency in its supply chain by openly communicating its sourcing practices. The company discloses key indicators of progress regarding sustainable cocoa and ethical practices (Hershey, 2023).
4. Community Engagement Initiatives: Hershey actively engages with communities by investing in education, health, and poverty alleviation programs. They believe in mutual development that benefits both partners and producers (Hershey, 2023).
5. Environmental Impact Reduction: Hershey is committed to minimizing its environmental impact, focusing on reducing greenhouse gas emissions, water usage, and waste. Their 2023 goal of achieving a 25% reduction in greenhouse gas emissions in their operations highlights this initiative (Hershey, 2023).
6. Employee Well-Being: As part of its sustainability vision, Hershey emphasizes employee health and community well-being, focusing on diversity, equity, and inclusion in the workplace (Hershey, 2023).
Mars, Inc.: Key Aspects of Business Ethics, Social Responsibility, and Environmental Sustainability
1. Five Principles of Governance: Mars operates on five core principles: Quality, Responsibility, Mutuality, Efficiency, and Freedom, which guide their sustainability and business ethics (Mars, 2023).
2. Sustainable Sourcing: Mars is committed to sourcing raw materials sustainably, engaging in sustainable cocoa, palm oil, and fish sourcing practices to ensure environmentally friendly production (Mars, 2023).
3. Healthy Product Reformulation: Similar to Hershey, Mars is focusing on product nutrition by reducing sugar, utilizing healthier ingredients, and promoting better-for-you snacks to address health concerns (Mars, 2023).
4. Global Welfare Initiatives: Mars Invests significantly in community welfare initiatives, focusing on education, women's empowerment, and global hunger alleviation programs (Mars, 2023).
5. Climate Change Commitment: Mars has set ambitious climate targets, aiming for net-zero greenhouse gas emissions across their entire value chain by 2050. Their commitment includes transitioning to renewable energy in production processes (Mars, 2023).
6. Animal Welfare Standards: Mars adheres to high standards for animal welfare, ensuring that all suppliers are monitored and meet specific welfare criteria. This demonstrates their commitment to ethical sourcing beyond just plant-based commodities (Mars, 2023).
Comparative Analysis
Both Hershey and Mars exhibit commendable efforts in business ethics, social responsibility, and environmental sustainability; however, their approaches exhibit notable differences.
Business Ethics: Hershey’s transparency in sourcing bolsters consumer confidence and displays ethical standards (Hershey, 2023). Mars’s five guiding principles, especially in terms of mutuality and responsibility, serve to deepen stakeholder engagement (Mars, 2023). However, Mars somewhat outshines Hershey due to the explicit ethical framework guiding their operations.
Social Responsibility: Both companies are heavily invested in community welfare; Hershey's impact within cocoa farming communities and Mars’s combination of education and women’s empowerment offer significant value to their social responsibility commitments (Hershey, 2023; Mars, 2023). Notably, however, Mars’s broader scope in addressing global hunger arguably lends a more nuanced effort to its social responsibility endeavors.
Environmental Sustainability: In terms of environmental impact, Mars’s bold target of achieving net-zero emissions by 2050 reflects a pioneering stance in sustainability more robust than Hershey's goals, which while strong, are comparatively less ambitious (Mars, 2023). Hershey does demonstrate proactive measures in emissions reduction, though Mars's holistic approach grants it a competitive edge (Hershey, 2023; Mars, 2023).
Grading Analysis
- Hershey Company:
- Business Ethics: B
- Social Responsibility: A-
- Environmental Sustainability: B+
- Overall Grade: B+
Hershey showcases a strong commitment to social responsibility and community engagement. However, it could improve on its sustainable supply chain practices and environmental goals.
- Mars, Inc.:
- Business Ethics: A
- Social Responsibility: A
- Environmental Sustainability: A-
- Overall Grade: A
Mars exemplifies a well-rounded approach to ethics and sustainability, marked by ambitious climate goals and solid social responsibility efforts. Its structured ethical framework aids in building trustworthy relationships with stakeholders.
Conclusion
In conclusion, while both Hershey and Mars have embraced sustainability as a core component of their business strategies, Mars, Inc. takes the lead in business ethics and social responsibility, primarily due to its comprehensive governance principles and expansive global initiatives. Hershey has made commendable strides but must remain focused on advancing its sustainability efforts to remain competitive in a rapidly evolving market. Both companies are making impactful changes, and their rivalry contributes to overall improvements in sustainability within the industry.
References
1. Hershey Company. (2023). Hershey's Sustainability. Retrieved from [Hershey's official website](https://www.thehersheycompany.com/en_us/responsibility.html)
2. Mars, Inc. (2023). Mars Five Principles. Retrieved from [Mars' official website](https://www.mars.com/about/our-principles)
3. Hershey Company. (2023). Cocoa Sustainability. Retrieved from [Hershey Cocoa Sustainability](https://www.thehersheycompany.com/en_us/responsibility/cocoa-sustainability.html)
4. Mars, Inc. (2023). Mars Sustainable Sourcing. Retrieved from [Mars Sustainable Sourcing](https://www.mars.com/global/sourcing)
5. Hershey Company. (2023). Nutrition and Well-Being. Retrieved from [Hershey Nutrition](https://www.thehersheycompany.com/en_us/responsibility/nutrition.html)
6. Mars, Inc. (2023). Healthy Product Reformulation. Retrieved from [Mars Product Reformulation](https://www.mars.com/global/nutrition)
7. Hershey Company. (2023). Environmental Impact. Retrieved from [Hershey Environmental Impact](https://www.thehersheycompany.com/en_us/responsibility/environment.html)
8. Mars, Inc. (2023). Climate Change Commitment. Retrieved from [Mars Climate Commitment](https://www.mars.com/global/climate)
9. Hershey Company. (2023). Employee Well-Being Initiatives. Retrieved from [Hershey Employee Initiatives](https://www.thehersheycompany.com/en_us/careers.html)
10. Mars, Inc. (2023). Animal Welfare Standards. Retrieved from [Mars Animal Welfare](https://www.mars.com/global/animal-welfare)