Company Q Social Responsibility
Social Responsibility of Business Entities
Some people believe that businesses have a duty to create a good impact on society while providing a profit for their shareholders, this is social responsibility. While the concept of social responsibility has many believers and critics, it has been shown that consumers will not purchase goods or services from a company they feel is not trustworthy. A company's reputation does play a role in determining if it succeeds or ultimately fails. In the given scenario, Company Q has made some business decisions that require
analyzing. Company Q has closed two stores in areas of the city that are considered
“bad”. They have finally, after a long period of time and with high prices, started …show more content…
They only seem concerned with their
bottom line, which could prove to be a costly mistake and bring along the end of the
company. Company Q should evaluate the decisions they have made and repair some of
their damaged reputation by acting more socially responsible. First, Company Q should
not alienate the good people that live in the high crime-rate areas of the city. If the areas
are close together they could open one store in an area between the two sections of town.
The company could offer lower priced products to entice residents to shop there and
beef up security if they are worried about thefts. Second, Company Q should listen to
their customers and not make them wait too long for the products they desire. They
should also carry organic and health-conscience foods that are affordable to a larger
range of people and not only for the ones that are more “well-off”. Last, Company Q
should participate in any programs that help residents of their city. Donating food to
local shelters should be only the beginning, the company should help with fund raisers,
sponsorships, or even monetary donations to local charities. Anything that would
Some people believe that businesses have a duty to create a good impact on society while providing a profit for their shareholders, this is social responsibility. While the concept of social responsibility has many believers and critics, it has been shown that consumers will not purchase goods or services from a company they feel is not trustworthy. A company's reputation does play a role in determining if it succeeds or ultimately fails. In the given scenario, Company Q has made some business decisions that require
analyzing. Company Q has closed two stores in areas of the city that are considered
“bad”. They have finally, after a long period of time and with high prices, started …show more content…
They only seem concerned with their
bottom line, which could prove to be a costly mistake and bring along the end of the
company. Company Q should evaluate the decisions they have made and repair some of
their damaged reputation by acting more socially responsible. First, Company Q should
not alienate the good people that live in the high crime-rate areas of the city. If the areas
are close together they could open one store in an area between the two sections of town.
The company could offer lower priced products to entice residents to shop there and
beef up security if they are worried about thefts. Second, Company Q should listen to
their customers and not make them wait too long for the products they desire. They
should also carry organic and health-conscience foods that are affordable to a larger
range of people and not only for the ones that are more “well-off”. Last, Company Q
should participate in any programs that help residents of their city. Donating food to
local shelters should be only the beginning, the company should help with fund raisers,
sponsorships, or even monetary donations to local charities. Anything that would