CASE STUDY-CHIQUITA'S GLOBAL TURNAROUND Study Example | Topics and Well Written Essays - 250 words

-CHIQUITA'S GLOBAL TURNAROUND - Case Study Example After experiencing huge losses through socially irresponsible practices and unfavorable tariffs, the company re-evaluated itself and decided to incorporate its corporate governance and corporate social responsibility initiatives globally. Chiquita further recognized the significance of being socially responsible as a means of gaining competitive edge in the market along with its pricing strategy. Therefore, it took on the Better Banana Project which allowed it to be environmentally responsible. In regards to labor practices, Chiquita accepting the importance of the support of its employees and its impact on the company’s image adopted the SA8000, the widely accepted international labor rights standards, in its code of conduct. The company also ensured the health and safety of workers by promising to fulfill the ILO conventions. Even though, Chiquita could have advertised its attempts at being socially responsible, it employed long-term marketing strategies such as viral marketing and third party testimonials to promote its products and efforts. Thus, all the above-mentioned efforts along with cutting costs and streamlining the local and worldwide operations have facilitated Chiquita in improving not only its financial performance, but its efficiency and the corporate image as well. Even though, the company has improved dramatically over the years, it still has to go a long way to accomplish a healthy and socially responsible corporate