To see these benefits, the focus needs to remain on benefiting the community at large and meeting the needs of each individual location. Crime can be reduced within the store by helping provide for the community and offering opportunities to help people work their way off the streets. Consumer spending can be increased by meeting the demands of the area while helping those who cannot afford to spend money on the goods the company sells. Any company would be wise to remember that quite often it is the poor who succeed later in life and become a company’s biggest investors. A focus on those in need is something that helps a company’s reputation for years to come, boosting profits in both the poorest neighborhoods and the wealthiest.
An example of this could be social security benefits. These motivations help the company recruit top level employees and increase their overall productivity. But this can be a trade-off as these benefits and rewards can be costly. Takeaway 2 - Corporate Culture, Human Resources, and Ethics Zappos is a great example of a company that has created a lively atmosphere for their workers through their casual working environment. But another takeaway is that this type of culture is not compatible with many companies.
BMA1 – Task 304.1.3-04 Steve Perryman Western Governors University Social responsibility is a concept that many businesses take seriously because it has a direct effect on the consumer’s perception of the company and the bottom line profitability of the company. Social responsibility is the company’s obligation to maximize its positive impact and to minimize any negative impact in a community and its consumers. There are four aspects of social responsibility: Economic, Legal, Ethical, and Philanthropic. There are many examples of companies like Whole Foods, Coca-Cola, and PNC Financial Group who go above and beyond these four aspects of social responsibility. Company Q in the scenario provided has a very poor attitude towards social responsibility because though they provide some basic aspects like Economic and Legal they fall short in Ethical and Philanthropic aspects.
If the stores were bought out by another company, this could benefit the employees and the customers in the neighborhoods, along with the investors and shareholders. There is an ethical and social responsibility to look at all the positive and negative impacts of such a decision. Company Q took years to answer customer requests for health-conscience and organic products. These products are high margin items which would bring more profit for fewer sales. This is a bonus for both the customers and the shareholders.
QBT Task 4 – Final Version 2 Robb Farrell Western Governors University Student ID# 000242903 THE REAL BOTTOM-LINE OF TODAY’S BUSINESS Research reveals that companies that focus on adhering to ethical standards and investing in socially responsible practices to the benefit of all stakeholders have a significant business advantage it today’s market place. Socially and ethically conscious originations have compelling business results in related to employee loyalty, company profits and consumer affinity. There was a time in our capitalist society that an organization’s number one priority and predominant focus was profits and shareholder interest. Indeed things have and are changing. In today’s market climate, companies have had to increase their consciousness as to what really matters.
1) Do you think Coca-Cola has used corporate social responsibility principles in addressing the obesity crisis? Explain in detail I believe Coca-Cola has used corporate social responsibility or CSR principles in addressing the obesity crisis. When watching their commercial called ‘Coming together(p.37).’, I realized that Coca-Cola really is trying to make a difference in society. As stated in MKTG, CSR principles are used by managers for ‘the long-range best interests of the company and the company’s relationship to the society within which it operates’. Coca-Cola is probably doing better now and will probably do even better financially in the future because of all their new products.
The social responsibility that Company Q owes to its employee’s is not closing the stores in the high crime rate areas. Providing a source in an under privileged community for not only employment but also a store that consumers can find products that are more health conscience, benefits everyone involved. Unemployment in any community can be devastating as many employees of a business
Marketing's Consequences: Stakeholder Marketing and Supply Chain Corporate Social Responsibility Issues ^. Craig Smith, Guido Palazzo, and C. B. Bhattacharya ABSTRACT: While considerable attention has been given to the harm done to consumers by marketing, less attention has been given to the harm done by consumers as an indirect effect of marketing activities, particularly in regard to supply chains. The recent development of dramatically expanded global supply chains has resulted in social and environmental problems upstream that are attributable at least in part to downstream marketers and consumers. Marketers have responded mainly by using corporate social responsibility (CSR) communication to counter the critique of CSK practice, but these claims of ethical corporate behavior often lack credibility and can result in a backlash against brands. The article argues that more adequate attention to the harmful upstream effects of downstream marketing and consumption decisions requires greater attention to stakeholder marketing and marketer efforts to help create responsible consumers.
Conversely, for-profit industries focus on the needs of the marketplace, offering whatever may be needed to create a lucrative profit and “choosing to distribute profits between owners, employees, shareholders and the business itself.” (Ingram). The idea of social business has become an increasingly sustainable and profitable model in today’s economy. In his book, Creating a World without Poverty: Social Business and the Future of Capitalism, Muhammad Yunus discusses two types of social business. The first focuses on businesses dealing with social objectives only, and second type is any money-making business that is owned or managed by the disadvantaged people. The social idea is
Corporate Social Responsibility (CSR) What is CSR? Corporate Social Responsibility (CSR) is a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, employees, shareholders, communities and the environment in all aspects of their operations. This obligation is seen to extend beyond the statutory obligation to comply with legislation and sees organizations voluntarily taking further steps to improve the quality of life for employees and their families as well as for the local community and society at large (Friedman, 1970). Over the past decades, there have been increasing concerns from the public that many businesses have little concern for the consumer, care