What Are The Strengths And Weaknesses Of Working In A Business

Social responsibility makes a company more competitive and reduces the risk of sudden damage to the company’s reputation and sales.

As stated earlier, Macy's business model, though aims at sustainability and growth, but it is too much centred on corporate social responsibility. Corporate social responsibility in the contemporary corporate world is seen as an immensely important part of business strategy. It involves organizations taking responsibility of 'giving something to the society' in return of what they earn from them (Fleisher, 2008). Many organizations today use corporate social responsibility as a potential marketing tool, also referred to as cause related marketing. Although highly important, and also pursued by the competing firms, extreme dependence and centred focus on

One key to a successful business is to advance and respond to the issues that underlie in its social responsibility to the community. Of the companies, Target shows more of a social responsibility to the community. Target has included itself and various programs such as raising money for Education, volunteering and offering a diverse work place for the community. As Target states on their website, “As a good corporate citizen, Target works to strengthen families and communities wherever we do business.”

Many firms are learning that being environmentally friendly and sustainable has numerous benefits. (O.C Ferrell, Fraedrich, Ferrell, 2015). This could enable them to increase goodwill from various stakeholders and also save money in the long term. This will mean that they are being more efficient and less wasteful of resources, which will enable them to be more competitive by satisfying stakeholders. The CEO of

or so many years our society has been thinking of forming new creative and innovative businesses, which would be more environmental and customer friendly. Nowadays a large number of different companies follow the social, ethical, as well as moral consequences when it comes to their decision making. One of the relatively new concepts involving economic and social concerns is Corporate Social Responsibility. Many of us apply this approach not only at work, but also in everyday life without even recognizing.

After many years of customer requests, Company Q began selling a very limited amount of health-conscience and organic products. When local food banks asked for donations of day-old products, management declined due to worries over employee theft and fraud. If Company Q had looked at this request through the eyes of a socially responsible business, they could have donated the left over products to those in need, which in turn, would have given the perception that Company Q is concerned about the people in the neighborhood. When the residents of a neighborhood see or feel that a company is giving back to the community, they are more willing to patron the business. “The actions of a company color the perceptions, behavior, and well-being of its customers, prospects, and the community at large, affecting its own health as well as that of the world around it.” (McKee, 2012) Employees who work in the grocery store would also feel a sense of pride that their employer is giving back to the people who spend their hard earned money at their store. Employees who are happy and proud of where they work have less

Every company has a responsibility to support the society it serves. This indicates that a company that wishes to truly thrive in a market should not just follow the business and consumer laws of the country but take an active interest in the community that it serves in each country. Today’s global market is led by companies that concern themselves with the sustainability of the company and its products, as well as the continual improvement of the

A company’s goal must be much more than helping themselves, it must be about helping others as well. By helping others, those individuals will, in turn, help the company. To elaborate, people are more willing to buy products from a company that is more environmentally conscious, kind to their employees, or help people in need such as people who are homeless. A company has core competencies which basically describes what the company does or is which sets them apart from other companies. This could be seen through a company’s slogan such as Target, which has the slogan of “Expect more. Pay less.” Philanthropic efforts are designed to “improve the quality of life, reduce government involvement, develop employee leadership skills, and create an

The company is always in search of green programs to help with society. Macy’s was named “one of Newsweek Magazine’s 500 Greenest Companies in America”. They have an intense code of ethics for their suppliers. They also help firms in foreign countries who struggle economically. Macy’s always tries to make things better.

One point of view says that we should invest in the environment because it will increase our reputation among other things resulting in increased sales. Another point of view is to not invest in sustainability and since consumers gravitate towards the best products and the best prices, which a team could develop, then sustainability is just an unneeded expense. As a team we feel that there should a balance of both investing in sustainable business practices and turning a profit. This strategy can be seen when we turned a $4,600,257 profit in quarter six while investing in seven conscious

According to my analysis, the problems are distrust between the managers and employees and unfairness of rewards between the employees and supervisors. In order to keep productivity and profitability of the plant, it should resolve the issues urgently before the situation deteriorated further. I recommend the option two is better for Bent to deal with these problems for the plant. Firstly, communication is the most important factor that affects the relationship between managers and employees. If the managers could listen advices of the work in time from their employees, it not only will be more easier to handle the existing problem in the company, but also will improve the relationship between managers and employees because the staff feel the company takes, to respect and to trust them, feel oneself is in enterprise's one, and they can have the confidence and the sense of responsibility for the development of their company. Secondly, it is to give the appreciation by managers to employees frequently that will improve the employee morale because they will feel more attached to their company. As the result of this, employees will devote to their work without any complaint. Consequently, because of the improvement of relationship and employee morale, the efficiency and productivity of company will improve with the efforts of all staff and give them corresponding reward. Although the first option is probably to resolve the crisis

The customers, employees and other stakeholders are the ones who primarily benefit, but some of the initiatives are a direct benefit to the community and in the case of Home Depot, the world. As stated earlier, the company has a strong environmental component that is effective and focused, which in turn benefits the planet. For example, in the 2016, Home Depot reports that their efforts reduced carbon gas emissions by 4 million tons through the sale of Energy Star products. Energy Star products save consumers money and often offer rebates when their products are purchased. The sale and use of these products from Home Depot, lessened the carbon footprint by over 35% in 2016 (“Resources & Reports”, 2016). Another example is that they intend to grow their ongoing commitment to veteran-related causes to a quarter of a billion dollars by 2020 (“Resources & Reports”, 2016). There are many examples of how people and places have benefitted from the Home Depot’s CSR initiative, all can be found on their website and they report this information to the shareholders

The benefit to business of good Corporate Social Responsibility is difficult to quantify as it varies depending on the nature of the enterprise. Some scholars believe that there is a business justification for CSR. That is, what is good for the environment and society will be good for company profitability. And studies have shown a slightly positive correlation between CSR and financial gain (Steiner and Steiner, 2006). However, as Freidmanism claims, the first responsibility of business is to make enough profit to cover the costs for the future. If this social responsibility is not met, no other responsibilities can be (Hargreaves, 2006). Therefore it is critical that CSR activities are included in strategy formulation and that the level of resources devoted to CSR is determined like any other strategy – through cost/benefit analysis. Corporations will not throw money away…they need to see it

Corporate social responsibility has been one the key business buzz words of the 21st century. Consumers' discontent with the corporation has forced it to try and rectify its negative image by associating its name with good deeds. Social responsibility has become one of the corporation's most pressing issues, each company striving to outdo the next with its philanthropic image. People feel that the corporation has done great harm to both the environment and to society and that with all of its wealth and power, it should be leading the fight to save the Earth, to combat poverty and illness and etc. "Corporations are now expected to deliver the good, not just the goods; to pursue

As an increasing number of people become more conscious of what they consume health wise and increase their awareness of their impact on the environment, they begin to actively decide who to purchase from. Companies must become more aware of their consumer’s transforming habits and values. ‘Companies today are bigger than many economies…little republics…if companies don’t do [responsible] things, who is going to?’ (Deresky, 2014, PC4-9). It’s hard enough developing a competitive edge to beat out the competition, but to do so while still holding true to the acts of shrinking one’s environmental footprint and giving back to local communities seems realistically unattainable. For all intents and purposes, can performance with purpose work for the performance aspect effectively? (Deresky, 2014)