Being one of the largest beverage companies in the world, Coca-Cola has a lot of pressure with ethical issues. This company has been involved in racial discrimination, misrepresenting market tests, manipulating earning and disrupting long-term contractual arrangement with distributors. Coca-Cola is extremely active in all aspects of society and environmental issues. They have made multiple steps to prevent harm to the environment through their production of products. Some of these solutions include eco friendly facilities and equipment. Coke has been very efficient when it comes to environmental issues. Throughout the years, they have developed a goal of being water neutral. This means that every drop of water used by the company will be replenished by 2020. As well as this, Coca-Cola has had a huge impact on improving education. They have had numerous programs, which include a scholarship program that has given out over 22 million dollars in grants. Coca-Cola is a much-admired company amongst its customers but they are still not perfect. The stock price of the company is the same price as it was 10 years ago. This is due to ethical issues associated with the company. For example, In Belgium in 1999, a few children got sick after drinking a Coca-Cola branded product. This caused every item Coca-Cola made to be pulled off the shelves, which caused a loss of reputation.

Another ethical issue that has existed throughout Coca-Cola's business is is the abuse of workers' right, water privilages and worker discrimination.Coca-Cola faced a lawsuit in 1999 because fifteen hundred African American employees sued Coca-Cola for racial discrimination. They were charged due to the fact that they put this race at the bottom of the pay scale even though the work was equal. The pay difference was massive - $26 000 less each year. To rebuild their reputation, Coca-Cola made a diversity council and paid $193 million to settle the racial discrimination lawsuit. Those two ethical issues are only two of many that Coca-Cola has gone through. Overall, Coca-Cola still strives today to reduce their ethical issues to a minimum in order to focus on reaching the world.

Question

How can coca cola develop Business Ethics of their company and its employees? Explain in terms of the 'Steps in Developing Business/corporate ethics' with examples related to the Coca-cola.