BUSN- 310-8Monster Beverage Company PPT

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Technological environment.

The technological environment entails the external factors in technology that impact business operations. Sismondo (2010) suggests technology comprises both hard technology, such as machines, and soft technology, such as scientific thinking, used to help solve daily problems and promote progress. The technological environment consists of various elements ranging from entrepreneurial expertise and professional knowledge to effective methods of improving the production and distribution of goods and services. The study identified Monster Beverage Corporation as the "Worst" company and aims to evaluate its hard and soft technology using both the company's domestic and global environments.

Monster Beverage Company uses several hard and soft technologies for domestic and global environments. Examples of hard technology in Monster Beverage Company are employees and management. The company employees believe in their abilities to manage tasks, are valuable in the workplace, show strong teamwork skills, and help the company thrive in the competitive market by developing quality products (Schuler, Jackson & Tarique, 2011). Monster Beverage company management, led by CEO Mr. Rodney Sacks, continue working effectively with its consolidated subsidiaries, leading to the production and marketing of energy drinks that meet customers’ expectations. On the other hand, one of the soft technologies in Monster Beverage company is social activities. For example, it has various philanthropic initiatives that focus on injured and retired military personnel, Monster athletes and their charities, and local community and first responders. These initiatives commit to improving sustainability, reducing the impact on the environment, and giving back to the community.

Monster Beverage’s domestic and global environments face various technology barriers, including outdated tools and processes. One of the biggest productivity killers in this company is using outdated technology. Another barrier is the lack of company culture. The company lacks the appropriate encouragement and has a workforce that isn’t engaged effectively, making it fail to achieve within its capability. The company also has a barrier of poor communication. The company is headquartered in Corona, California, United States. It also operates in other regions like Asia, Europe, and Australia, making it challenging to communicate effectively.

Monster Beverage company can employ different strategies to overcome the identified barriers. Regarding the issue of outdated tools and processes, it can develop tools that allow users to sign in and use a range of features. This will eliminate delays when entering multiple logins and waiting for different programs to load. It will also make work more accessible and convenient since one will not have to memorize numerous passwords or hope their colleagues won’t forget. Regarding the lack of company culture, the company should develop a culture related to its vision statement. Monster Beverage company's vision statement is “to satisfy consumers' needs for superior quality and great tasting, healthy, natural and functional beverages." Regarding the issue of poor communication, the company should utilize stream meetings and leadership Q&A sessions online to ensure every employee despite being in different locations.

Monster Beverage's sales and marketing strategy focus on developing its brand by creating awareness through promotional campaigns. It utilizes branded vehicles to interact with its potential customers and provide them with opportunities to sample some of its new products. The strategy enables the company to reach out to most of its consumers and attract new customers. Currently, the company protects its technology and other products through state-of-the-art encryption protocols, which detect threats against unauthorized access of any data. However, the company can still embrace the different methods or tools to protect its technology. For example, trade secrets, which are intellectual property protecting companies’ innovative ideas from competitors or unauthorized persons (Menell, 2017).

References

Menell, P. S. (2017). Tailoring a Public Policy Exception to Trade Secret Protection. Calif. L. Rev., 105, 1.

Schuler, R. S., Jackson, S. E., & Tarique, I. (2011). Framework for global talent management: HR actions for dealing with global talent challenges. Global talent management, 20, 17-36.

Sismondo, S. (2010). An introduction to science and technology studies (Vol. 1, pp. 1-11). Chichester: Wiley-Blackwell.