Company Q should also review products they offer, price control factors, and donations to local charities in the community. I will show that by improving on these areas, Company Q will improve their overall view in the community and improve their view with loyal customers and potential customers. The closing of a store creates a large impact on any community. Company Q’s disregard for any social responsibility creates a negative view of the company in areas where they operate. Company Q’s stores were reportedly closed due to their lack in generating profit, being that these stores were in high crime areas raises some concern.
EST1 Task 310.2.1-05: Ethical Situations in Business Western Governors University February 2, 2013 EST1 Task 310.2.1-05: Ethical Situations in Business Companies have four levels of social responsibility: 1) economic, 2) legal, 3) ethical, and 4) philanthropic. A company has to balance its duty to shareholders to make a profit with its contract with society to make socially responsible decisions. In order to increase profit, a company must understand the needs of the stakeholders and develop a coordinated plan which establishes standards within the company that can be understood and accepted by all employees; as well as supporting the needs of the community it serves. Company Q has supported the need to improve profit by closing two unprofitable stores. However, an analysis should be made regarding the need to close those stores.
Company Q's Dilemma Nabor Ochoa Western Governors University Company Q's Dilemma The dilemma faced by many businesses today is a dilemma that has existed since the introduction of business. What should come first people or profits? Company Q is facing the same problem in regard to whether or not make donations to local food bank or to dispose of the surplus food to prevent their profit margin from shrinking. Company Q has chosen to put the profits of the company ahead of helping other people of their community when given the opportunity to do so. In the eyes of some, this decision could be seen as an act of selfishness against the citizens of the community; however in the eyes of others it could be seen as a business decision
Empowering employees with experience will allow them to help the public successfully resulting in an overall customer service experience that will set them apart from other local grocery store chains. In turn, Company Q should implement an employee incentive program that rewards employees, based on their, performance, commitment, and customer feedback. Employees who go above and beyond what is expected should be valued and praised for the hard work they do, by having an employee of the month award with additional
Also, your company was asked for donations of day old products by the food bank. Your management declined and chose to throw the products away. Management worries over lost revenue due to fraud and stealing by employees who might say they were donating food. In doing my evaluation of the given facts, I see areas in your company that could be improved in regards to the attitude toward social responsibility. Economic: maximizing stockholders wealth and value In regards to evaluating your company on their attitude toward economic social responsibility, I have found that your company has made some good moves, although there could be some improvements made in this area.
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.
Businesses in small communities have to positive images by contributing to the community and following social standards. External social pressure influence companies to think before they take any actions. How might these issues be relevant to organizational and personal decisions? The issue addressed in the “Our World” movie has already influenced the decisions in the political. Seeing potential in inner city kids of having a successful future instead of kids of lower income parents or bad neighborhood will influence organizational and help each person making decision on inner school educational system.
Bridget Hutchings - 228303 EST1 - Task 310.2.1-05 The attitude of Company Q towards social responsibility seems to be decreased by the pressure of profit loss. They closed 2 stores recently due to the fact that they were continually losing money. This not only creates a problem for the employee's that worked there, but also for the customers who frequented the stores. By improving their ethical makeup they could not only improve their profits, but it would also help the relationship with their employees and customers grow. There are a few things that Company Q could work on and change to create a better enviroment for the community.
By doing this then the Company Q leadership can institute changes corporately as well as locally because they would then have an understanding the unique situations that each store has to contend with in each of the different communities. An added benefit of Company Q establishing and instituting a culture of social responsibility, will be in recruitment of talented individuals who are looking for companies that understand the importance of social responsibility in the communities in which they
Offering work programs that help prepare young people for management or skilled positions is a good way to take crime off of the streets while showing to the community that the business cares about the welfare of the population. This can help bring in a group of potential profit earners for the company while at the same time reducing crime in the stores and the surrounding neighborhood. The improved reputation could only serve to bring in shoppers who are more prone to visit the larger and cheaper chains such as Walmart. While this will incur immediate liability costs as the plan is enacted, the end result benefiting the shareholders is a cheaply trained future leadership staff, an improved reputation for the company as a whole, and a long term boost in