Est Task 1
EST Task 1
Company Q, a local grocery store chain, has recently closed a couple of stores in higher crime rate areas due to losing money, added the much requested organic foods at a very high margin, and has declined donating day old food products to a local food bank out of worries about losing money due to stealing and fraud. At this point, Company Q seems more concerned about making a profit than building relationships with the community they are serving. In turn, could very well be losing more business due to the perception they are projecting about being concerned about profits. Every business has to make money in order to stay in business. You can’t give everything away at a low margin or through donations and expect to stay in business for years to come. However, a business also can’t continuously not build relationships with the community or project the perception that they are only out to make money and expect to build loyal customers who are proud to say they use Company Q as their preferred store. There has to be a balance between making profits and giving back to the community that can either make or break your profits. I believe there are a few things this corporation can do to increase their social responsibility to their community and also their own employees. The very first step is to come up with a Corporate Social Responsibility program. One that would outline and define the company’s stance on ethics, good decision making business-wise and also for their community, and give direction when hiring new employees on what the expectations are for Company Q.
One of the first things I would add, just in the hiring process, would be a personality assessment that would focus on what a future employee would do in certain situations that may be ethically compromised, their own work ethic, and also questions relating to making good business decisions for the company. Adding this into, at least the application and hiring process, should in turn
Company Q, a local grocery store chain, has recently closed a couple of stores in higher crime rate areas due to losing money, added the much requested organic foods at a very high margin, and has declined donating day old food products to a local food bank out of worries about losing money due to stealing and fraud. At this point, Company Q seems more concerned about making a profit than building relationships with the community they are serving. In turn, could very well be losing more business due to the perception they are projecting about being concerned about profits. Every business has to make money in order to stay in business. You can’t give everything away at a low margin or through donations and expect to stay in business for years to come. However, a business also can’t continuously not build relationships with the community or project the perception that they are only out to make money and expect to build loyal customers who are proud to say they use Company Q as their preferred store. There has to be a balance between making profits and giving back to the community that can either make or break your profits. I believe there are a few things this corporation can do to increase their social responsibility to their community and also their own employees. The very first step is to come up with a Corporate Social Responsibility program. One that would outline and define the company’s stance on ethics, good decision making business-wise and also for their community, and give direction when hiring new employees on what the expectations are for Company Q.
One of the first things I would add, just in the hiring process, would be a personality assessment that would focus on what a future employee would do in certain situations that may be ethically compromised, their own work ethic, and also questions relating to making good business decisions for the company. Adding this into, at least the application and hiring process, should in turn