Ethics and Social Responsibility
In Company Q’s attempt to make logical day-to-day business decisions, they have created tension in the communities that they thrive in. With the intention of protecting the company and its assets, they have unintentionally created a imbalance of social responsibility within the company and community. Closing stores in major metropolitan area is a formula for disaster. These stores could have been where most foot traffic potential is located. That can lead to hight revenues. Company Q has shown that they cannot trust employees even if it is for the greater good. The offering of a small healthy and organic product selection may be an indication that Company Q does have an ear open to the community. In an attempt to save the image and continue Company Q’s profitability, a few steps must be taken to sustain this margin. Community leaders should be involved in brainstorming the things Company Q can do. A competitive analysis of Company Q’s competition should be factored in. Thirdly, Programs to increase customer loyalty can be implemented.
Social responsibility is definitely a priority in a situation such as this. The community and its leaders may have reasonable input on donating some of the day old products. Wasteful practices create an image that a company has no ethical standards. In addition, it motivates the perception to the public that social responsibility is not a priority. Tax incentives can be considered and lobbied for Company Q’s endearment to feed the needy. Giving back to the community in ways such as donations has a heightened positive effect on the negative ethical circumstances experienced previously. Products that are going to be destroyed should be put to use. Idea behind fraud of lost revenues does not outweigh the risk of a damaged reputation. Company Q can easily assign 1 to 2 employees to monitor the donation process of day old products such as, a manager. Lastly, Company Q can publicly address issues via advertisement.
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Company Q’s main goal is to make profits. Having a variety of products that customers enjoy purchasing is more than likely to bring consistent profits. Competitively thinking, the prices of a competitor grocery store can be challenged or matched. Most times if people feel that a deal is available, they will take advantage of it. The atmosphere that is created is competitive and rational. The idea that Company Q always has a deal will be a thought that is engrained in a customers mind. If a selection of healthy and organic products can be served for purchase this may entice a targeted group of people.
Eventually, a following may develop that will in turn increase profits. Purchasing smaller scale groceries can increase the value of the company. The objective of this scenario is to monopolize to maximize profits. So, closing stores in neighboring towns may have been a good short-term idea. The long-term goal of Company Q should consider opening smaller satellite stores in those communities to keep their presence.
As previously mentioned, Company Q’s presence can be included in the wallets and keychains of its customers through loyalty cards. Customers can receive special discounts for participating in such programs. To maintain a competitive edge in the the food distribution industry. Some of the products that Company Q sells that are heathy and/or organic can be branded with Company Q’s logo. Offering a lower price than a name brand product. This would alleviate the depiction that Company Q does not care about the society in which they thrive in. A health conscience selection has been in demand in recent times. Fulfilling the demands of its customers may be advantageous for Company Q. It is the easiest way to keep customers and satisfy them in the same motion.
In conclusion, the most that Company Q can do is to listen to what their customers want. Social responsibility is not hard to follow. Ethical circumstances definitely can sway the publics’ opinion. The proper way of extinguishing unethical situations is to at least address them. Company Q has decided to create a solution without assessing the situation that has come upon them. The social responsibility comes with the territory of business management. Stakeholders are most aware of the situation in which Company Q has landed itself into. Stakeholders are likely to receive the direct results of Company Q’s seniority decisions. Based of the decisions of seniority, the outcome has cost employees an employment opportunity by closing down stores. The end result ultimately has created the snowball effect. Social responsibility is not only important, but it should be the foundation that Company Q builds on. Consistent profitability will be
sustained with a theory such as this.