Typically businesses start up with a primary goal of earning revenue – to have the company profits exceed the cost of doing business. Small, local businesses are particularly susceptible to losing customers to large, corporate companies who often force these smaller companies out of business. Does this goal to make money and/or the susceptibility of being put out of business by a larger company excuse a small, local grocery store from filling its social responsibility? No, quite the contrary. It
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In today’s business world social responsibility is a very important piece to success. A company needs to make profits of course, but providing a good value product, secure employment, and giving back to the community that supports them, are all key to a successful venture. The perception of the public needs to be positive in order for a company to gain their trust and support. In this situation, it is clear by the poor choice to throw out the food rather than donate it to the local food bank,
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We make a living by what we get, but we make a life by what we give.” – Winston Churchill. There are four levels of social responsibility—economic, legal, ethical, and philanthropic. Socially responsible companies must uphold these elements by behaving ethically and with sensitivity. Being socially responsible has a positive impact on society, business and development as well as contributing to bottom line results. Studies have shown a relationship between social responsibility and profitability
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EST1: 310.2.1-05 Part A: In the given information of Company Q, they have demonstrated a lack of social responsibility and appear to have made decisions based solely economic responsibility. In order to determine if they made the proper decisions in closing the stores, we need to know what steps and actions were taken to make a profit. As a chain of stores, it is also important that they looked closely at what ramifications would result in closing the stores. These would be economic impact of
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Company Q is a small grocery store chain. Being in an industry that is constantly overrun by large corporations can prove to be extremely challenging and cause a company to become extremely profit driven. I think that this is exactly what has happened in the case of Company Q. A successful organization is one that finds balance both internally and externally. Company Q seems to be lacking this balance within the organization and their decisions and actions support this. I feel that these recent
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In today's fast-changing business world, companies are facing multiple new environmental, social, and cultural challenges that in large part determine their capacity to establish, maintain, and protect their business, and to deliver sustainable growth to benefit all (Quinn, 2013). Company Q, a small local grocery chain, trying to survive in a thriving metropolitan area, is in the midst of those challenges. Part A: Based on the given scenario, evaluating Company Q's attitude toward social responsibility
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Current Attitude Economic Company Q has an attitude that is very focused on their economic responsibility. The report of two stores being closed because of their consistent money loss points to a concern about economic responsibility. This is a move that benefits the company financially as a whole. If there are no stores losing money, the company becomes more profitable. This allows for employees to have more job stability and for the company to potentially expand into other regions that will be
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Over the years, social responsibility has become increasing important. Many companies have become gradually concerned about their image with the community and customers they serve. Socially responsible companies are not only concerned about profits but more importantly about making a positive impact on stakeholders. Company Q’s attitude towards social responsibility is low to non-existent. Recently the company had to close two of their stores in high crime areas due to money loss. The closings
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negative at the core. Company Q appears to be following more of a shareholder model, in which it is placing most of its emphasis on the shareholder and increasing profits without much consideration for its other stakeholders. For example, in situation 1, Company Q closed two stores in a major metropolitan area suffering from high crime rates due to a consistent loss of money. While this decision was beneficial to the shareholders, it will also put all of those stores employees out of work and eliminates
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Nathan Uffens EST 1 Task 2 1.Company X has a high code of ethics. These standards are what we expect our employees to follow: a.Dress Code: All employees must wear uniforms that consist of black dress slacks, Polo Shirt (Choice of 3 Colors), black shoes (No logos, or additional colors visible). Company to provide slacks and polo shirts. Visible body piercings are not allowed, except for earrings. Hair must be clean and well kept. Hair Coloring must de natural hues. Visible tattoos
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