Company Q Evaluation:
According to College of Business of Guidelines
Western Governors University
This is paper is evaluation of Company Q’s current attitude towards social responsibility. Three detailed recommended actions are given that can improve Company Q’s action toward social responsibility.
According to the International Organization for Standardization, “Business and organizations do not operate in a vacuum. Their relationship to the society and environment in which they operate is a critical factor in their ability to continue to operate effectively.” (Online Browsing Platform (OBP), 2014) Closing stores in a higher crime rate areas is only counter-productive for the company and the community it serves. In order for these hard hit areas to once again flourished, businesses and organizations need to hold firm and weather the storm. Effectively responding to consumer requests is very minimal at best. When Company Q does choose to respond supply is never matched with demand. Ineffective management practices have led to a disconnect within the communities they serve. Selling high margin requested items eventually leads to poor customer satisfaction. Company Q has no loyalty or trust with its own employees. This self-defeating behavior will only lead to more underperforming stores. Recommendations
Senior management should develop a sound code of ethics. The code of ethics needs to be unique to your business. Find out what approaches similar companies use that are effective in supporting staff and influence of work practice and culture. Before finalization get feedback from employees and shareholders, this can be done through surveys or focus groups. It’s beneficial to test it out and make adjustments as necessary. Set up an ethics committee. The committee will be charge of implementing of new practices. Follow a review process to measure the ethical performance within Company Q so that new issues and standards can be addressed and set in place when warranted. Develop a business relationship with local farmers and manufactures. If bringing new products that consumers request affects Company Q’s bottom line, buying local will eliminate this. Introducing health conscience and organic elements is a great way to increase revenues for years to come. Consumers are increasingly want more choice not to mention products that contain ingredients they can actually pronounce, but overall it needs to be affordable. Focusing on new supply chains will help get items to the shelves quickly and still be cost effective. Create a “goodwill” committee. This committee’s sole responsibility should be work to with communities that Company Q serves. This should go a step further than just donating to the area’s food bank. The committee should create fundraisers and outreach programs. Get the community involved. Donate back to school, churches, hospitals, and etc. Become sponsors of local events and create awareness. When a business’s respect within its community goes up losses due to thefts will naturally come down. Conclusion
With these recommendations all stores with be back into profit mode. Company Q will be ready to expand to new emerging markets once the work culture changes. Company Q’s performance on social responsibility can influence its competitive advantage, reputation and ability to attract quality workers. Following the recommendations Company Q will maintain a positive view from investors, owners, donors, and/or sponsors. Company Q’s main focus needs to be integrating social responsibility throughout the company, that will in turn auto correct other small less insignificant issues.
Online Browsing Platform (OBP). (2014, March 21). Retrieved from International Organization for Standardization: https://www.iso.org/obp/ui/#iso:std:iso:26000:ed-1:v1:en
References: Online Browsing Platform (OBP). (2014, March 21). Retrieved from International Organization for Standardization: https://www.iso.org/obp/ui/#iso:std:iso:26000:ed-1:v1:en
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