Premium Essay

Est Task 301.2.1-05

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Submitted By rinlon
Words 714
Pages 3
Not all businesses believe they have a responsibility towards to the social welfare of their employees and community. These businesses are more worried about their profit and as long as they are providing quality services or goods and jobs, then these businesses are successful. This is the traditional view of how a business should be run and it is called an economic model. Company Q is one of these businesses. Company Q is more concerned with their profit then maximizing a positive impact in society. Company Q has shown their view on social responsibility by offering their customers a very limited amount of health-conscience and organic products—all of which were high margin items and by the closing a few of their stores in the higher – crime – rate areas under the pretense of losing money. Company Q also refuses to donate to the local food bank because of worries over lost revenue and possible fraud by their employees. Company Q is not maximizing a positive impact through philanthropic and ethical actions. Therefore, Company Q is not showing an obligation to their stakeholders; particularly the customers and employees. A socioeconomic approach to social responsibility is an approach that does not just focus on the profits but on the benefits that the business can offer to the community. Company Q would need to adopt this socioeconomic approach if they wanted to improve their reputation. Company Q needs to have more involvement with the community, build employee trust and work on customer satisfaction. To begin, Company Q needs to improve their social responsibility by improving employee trust. Company Q needs to build a trusting work environment for their employees. In this type of work environment the employees will be trusted by upper management but also trust upper management to make the right ethical decisions. This vision of trust that shared between

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