I think we would all agree that the primary objective of any business is to make a profit. While this may be true, there is a strong correlation between being financially successful and morally and socially responsible. It would appear that company Q has disregarded the latter. In order to succeed in any given environment, one needs to adapt to their surroundings. In simple terms, give the people what they want and/or expect. For example, if a grocery store was located in a predominately Asian part of town, it would be expected that they would carry a larger assortment of Asian products. With regard to Company Q, the failure to provide products and services that directly impacted their target audience was detrimental to the stores survival. This was realized by the failure to provide health-conscience and organic products requested by their customers.
It is also true that the communities’ perception of any given business will greatly affect the overall success of that particular business. It would appear that company Q has taken the position that location and employee fraud are the largest contributing factors for the stores decline, when in fact, it is their own moral judgments that are leading to the stores downfall. This was again evident with the decisions to throw out day old products rather than donate them to the community food banks. It’s extremely important for one to recognize ethical issues and to understand ethics in business.
It is not always the case that society will interpret a decision the same as an individual might. Society’s interpretation of a decision as unethical, even if it is not, will greatly impact the success of that business to achieve its goals. When examining the decisions made by Company Q, relating to social responsibility, we can conclude that several changes in policy will need to take place in order to improve customer perception and profitability, within a particular demographic.
The Essay on Business Decision Making 2
The organization is a system where many processes are involved. There are various types of resources such as physical, human and financial. Among them human resources are in much importance due to some reasons. Humans can make own decisions and they are hard to be satisfied. Unlike machines they have many differences among each others. The skills are diverse from human to human. The employees come ...
First and foremost, company Q will need to reevaluate the product lines of their failing stores. It is evident that these particular stores would find it beneficial to not only carry a larger assortment of organic products, but to offer them at affordable prices. Although Company Q has instituted some of these products in their failing stores, they are limited and expensive. Performing customer surveys could also help them gain insight into the particular wants and needs of their customer base. Reacting to the requests of their customers will definitely have a positive impact. Secondly, Management needs to take a lead role in changing the communities’ perception of the company as a partner and not an adversary. This can be accomplished by focusing on the implementation of programs aimed at the community.
Management could take the lead role in a program to assist the local food banks with the donations of day old products. The possibility of theft among employees will be minimized if management is engaged in the process. This can also help to set a positive tone that they care for the neighborhoods in which they are located. Lastly, a well-defined code of ethics is essential for the longevity of any business. By stating a clear set of values and goals for the company, it can act as a guide and reference for the everyday decision making. This will keep their employees from guessing about specific policies and procedures. This could also help with the problems they have been experiencing with fraud.
“A well-written and thoughtful code also serves as an important communication vehicle that “reflects the covenant that an organization has made to uphold it’s most important values, dealing with such matters as its commitment to employees, its standards for doing business and its relationship with the community”(Driscoll and Hoffman, 1999, P.77 ).
The Business plan on Management Software Business Sage Ufsoft
Part 1: Background The Business environment consists of a microenvironment and macro-environment. The microenvironment comprises the forces close to company and affect its ability to serve the customers, such as suppliers, competitors, labour market, financial institutions, and etc. The macro-environment! ^0 can provide and overall picture of the variety of forces at work around an organization! ...
I believe with the three suggestions provided, Company Q will be able to change the perception that their stakeholders have of them in their failing stores and become not only a successful business partner, but a respected member of the community.
References
Driscoll, Dawn-Marie and W. Michael Hoffman. (1999).
Ethics Matters How to Implement Values-Driven Management. Waltham, MA 02452: Center for Business Ethics.
