6 Social Responsibility within Company Q Social Responsibility within Company Q Daniel R. Beckerman Western Governors University WGU Student #000322976 For any given business, the greatest potential for revenue growth can be found through a mix of focusing on providing for the shareholders, as well as thinking of the stakeholders as a whole. This means focusing past short term profits and creating a plan that demonstrates a measure of social responsibility. Business reputation goes a long way towards creating how large a company’s customer base is going to be, and giving the appearance of not caring about the community can lead to a loss of customers and a loss of additional revenue in the long run.
“A manager’s responsibility should be to the shareholders alone.” Discuss this view (12 marks) Corporate social responsibility refers to a business choosing to go above its legal obligations relating to society and the environment; this can be done by including factors such as Fairtrade or good working conditions for employees. However, some people argue that managers should only consider shareholders when making decisions and thus avoid CSR. In recent years, CSR has becoming increasingly revered on a global scale and therefore it’s becoming much more significant. For a business such as Greggs to breakthrough in foreign countries they would need to maintain their brand image to maximise success and therefore they should consider their other stakeholders such as employees and suppliers. This could be approached by making sure that their retail outlets in other countries are attractive and have good working conditions for their workers.
The necessity of public goods is vital for a developing country to survive, maintain, and become what we consider today, a developed country. The government must also provide economic support for their population. Governments in developing countries must strive with enormous amount of force to keep the economy from going down, as well as keeping it the same, meaning, a developing countries government must enable and fulfill a growing and inclining economy. When the government of a developing country fails to provide security, basic human rights, development, and poverty prevention plans, the government can then be considered as unsuccessful and weak. A weak government can be caused by many of reasons.
ALL WK 1, DQ’s: WK 1, DQ 1: What is a business’s obligation to build an ethical culture and balance its desire for profit with ethical responsibilities to employees, customers, society, and the environment? Ethics is different from one person to the next, so it is imperative that business clearly define the norm for staff members and management. The decisions organizations make influence more than business partners, affiliates, culture, and others. It is important for organizations center of attention on maximizing shareholder revenue. Therefore, maximizing profit without causing destruction to the business culture can be a balancing act for most organizations.
Although it may cost most to staff this event, my values and ethics tell me I should concentrate on what is most beneficial to my employees and my customers. I believe the value that the interaction brings will outweigh the cost to staff an additional employee. Ethically, my core belief states that people and relationships are more important than
Social Responsibility and Company Q Social Responsibility and Company Q Western Governors University Company Q believes that their responsibility is to the financial health of the company more so than any social responsibility to the communities in which they have stores. According to the textbook Business Ethics 2009 Update: Ethical Decision Making and Cases social responsibility is “defined as an organization's obligation to maximize its positive impact on stakeholders and to minimize its negative impact.” (Ferrell, 2013 p.38). By closing those two stores Company Q is showing their corporate focus on profit and not how important those two stores may have been to the communities in which they were located. The leadership of Company Q is so focused on revenue and its loss that they are overlooking how the positive impact of social responsibility could help them and their revenues.
The Politically Incorrect Guide to Capitalism What is Capitalism? Is it good for our economy? What actions have drove us to our current position in today’s society? These are all questions answered in Robert P. Murphy’s The Politically Incorrect Guide to Capitalism. Murphy describes Capitalism “as a system in which people are free to use their private property without outside interference” (Murphy, p. 1).
Pro Forma Thomas Walker MGT 300 November 21, 2011 Instructor Trent Dodds Pro Forma Entrepreneurship allows an individual to experience the joy of doing a job he or she loves while taking control of one’s own destiny and providing societal contributions. Despite surmounting wealth there are potential drawbacks. Launching a business requires a huge undertaking of the entrepreneur’s time and energy. There is no way to guarantee the venture will survive, grow, or produce a profit. Developing a strategic business plan to manage capital and human resources is quintessential to escaping some of the potential pitfalls.
Case1 The goals of this case is to Searching for Byte alternative solutions to feed the increasing demand of its products so can it enable the corporation to maintain a market share also the Ethical dilemma regarding the company vs. Plainville , in addition to highlighting the social responsibilities of corporations that are for the most part considering profit maximization as their primary goal. Additionally, illustrating how the outside directors of the board can play an active role by avoiding groupthink and raising genuine concerns over management decisions by using their unbiased judgment and thereby providing efficient leadership to the company. Suggestions for settling the corporation impasse they can to return to the white board, searching for other solutions that capable to soothe the situation and finding way out to this impasse such as buying a small competitor or extending the business , Maybe Bytes Products and the competitor can enter into strategic alliances and building a new plant in the area may not be needed also According to Carroll’s four responsibilities of Business, Byte is already following the first two responsibilities, Economic: producing electronic components to meet the demand so that Byte could repay its stakeholders; Legal: follow accordingly to the regulation of the state. Hence to compromise for the present impasse, Byte has to follow the last two responsibilities which are Ethic and Discretionary. Byte has to tell its potential employees and town administrator about this temporary operation so that they can plan for their set back when the plant closed in the future.
Sajina Adhikari| Management Chapter five Social Responsibility and Managerial Ethics Case Study - Not Just Another Outdoor Company Sajina Adhikari 47 out of 50 1. Social responsibility refers to the duties of any organization, which comprises of more than just economic obligations, but also actions and policies for the betterment of the society. Not all companies are socially responsible as most businesses only aim to maximize profits or only follow the legal approach (only obeying rules and regulations of the law). Here, Nau’s business approaches the socioeconomic view of social responsibility. They believe that all companies are responsible in bringing positive changes in the society as well as the natural environment.