...evaluating the current social responsibility attitude of the small local grocery store chain, Company Q, it is apparent that they have taken the stance of a shareholder model of corporate governance, as opposed to the stakeholder model. This evaluation is based on their focus of maximizing capital for its investors/owners. This type of orientation drives their decisions toward the best interests of the investors, not of the community or focus of social responsibility. Being socially responsible means that people and organizations behave ethically and with sensitivity toward social, cultural, economic, and environmental issues. Striving for social responsibility helps people, organizations, and governments have a positive impact on development, business, and society with a positive contribution to bottom-line results.("What Is Social Responsibility," n.d., para. 1) Company Q's actions of closing two stores in higher-crime-rate areas because they consistently lost money, as well as denying the request from the local food bank to donate their day-old products to help feed needy families, citing the concern of lost revenue from possible fraud and potential stealing from employees, support the evaluation of Company Q as being socially irresponsible. Closing two stores in the higher-crime areas could possibly have a more dramatic and negative effect on the community by appearing that Company Q has abandoned that section of the community for a safer, more profitable location, in turn...
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...Write a white paper on a company of your choice and discuss the market segmentation within that industry along with the target market for the company and the selection process for that target market. Required Elements: * No more than 2100 words * Include demographic, psychographic, geographic, and behavioral characteristics for the selected company. * A positioning statement for the company with careful consideration of their brand and strategy * Paper is consistent with APA guidelines. http://wps.pearsoned.co.uk/ema_uk_he_kotler_euromm_1/126/32286/8265285.cw/content/index.html I. Introduction BMW stands for Bayerische Motoren Werke AG, translated means Bavarian Motor Works (BMW). It was founded by Karl Rapp and Gustav Otto. In 1916, the Flugmaschinenefabrik Gustav Otto Company merged into Bayerische Flugzeug-Werke AG (BFW). In 1917, the Rapp Motorenwerke Company merged with Bayerische Motoren Werke. In 1922, BMW AG transferred engine construction operations, company name and brand names to BFW. March 6, 1916 is known as the birth date of Bayerische Motoren Werke AG (BMW) (“Bmw Group”, 2014). BMW is synonymous for luxury, the ultimate driving machine. In the past BMW only targeted the elite, wealthy, successful businessman. BMW has stepped out of the box to target other segments of the market to increase profits and gain an even bigger share of the industry. II. Market segmentation within the industry The market segmentation within the automobile...
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...Social Responsibility of Company Q Does Company Q have a positive attitude towards being social responsible? The evidence lay in the actions and reactions, or lack thereof, towards the needs and desires of one of its primary stakeholders, their customers and the communities in which they do business. First we should consider that they have recently closed two stores located in “questionable” areas, citing lack of profitability. The public perception of this move is clear that it is more related to the reported high crime levels in the communities surrounding these locations as the key focus to the closing of these stores. These locations are likely vital to the local customers for convenient availability of the goods and services Q offers as they now will be required to travel to stores outside their own community to acquire these. Closing of the stores without assessment of the impact on the community shows a clear disregard for the needs of these stakeholders. This displays a shareholder based corporate governance philosophy, thus exhibiting a lack of socially responsible thinking. Second when specifically requested for donations of day old perishable foods to a local food bank Company Q instead has chosen to dispose of the foods citing worries over lost revenue caused by the potential of employees collecting the foods for donation while in fact they would be keeping it for their own consumption, thus stealing from Company Q. These donations could be made without any significant...
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...market for this industry includes university and post-graduate students ages 18-29 living in urban areas. These two segments “account for the largest portion of gourmet coffee drinkers” Starbucks has capitalized on this target market and has become one of the most dominant forces in the coffee and tea industry. Besides their commitment to selling quality products, Starbucks is one of the most socially engaged companies in North America. From ethical outsourcing, promoting diversity within the company, community involvement and youth leadership, as well as being environmentally conscious, Starbucks has created a brand that has proven to be extremely marketable and profitable in the ever-growing socially conscious society. The future of Starbucks is promising. However, in order to continue being market leaders Starbucks needs to continually strive to be innovative and creative. Starbucks must continue to take progressive leaps such as: technological and social media engagement, as well as remain committed to the socially conscious pillars the brand has been founded upon. 2. Company Background Starbucks has handcrafted a truly unique brand experience. Founded in 1971, in Seattle, Washington, by...
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... Many companies view social responsibility as being just as important, if not moreso, as making a profit. May times, the community relies upon local businesses upholding a certain level of social responsibility. Company Q is one company that is not setting, or meeting, a standard of social responsibility. Company Q’s actions show that the company places profitability at a higher level of importance than social responsibility. Company Q is not making an effort to be socially responsible, which may have played a part in the lack of profit of the closed stores. Many people in the community are unable to provide basics, such as food and water, for their families. In an effort to assist these people, food banks reach out for help from the community, in the form of monetary and food donations. One of the more common donation sources is grocery stores. Some grocery stores donate their day old and damaged food items to food banks. This gives the food to the local food banks, which is then given to the needy people in the community. This is a relatively easy thing to do, and something which utilizes a product which would likely be disposed of anyway. Company Q has failed to take this important, and much appreciated, step towards showing that it is socially responsible. The company’s choice to not donate the day old food is telling the community that their needs are not important to Company Q. By citing lost revenues as the reason for not donating, Company Q is showing...
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...emphasis on maximizing its positive impact while minimizing its negative impact. In this essay, I will explain why I think Company Q is or is not acting in a socially responsible manner for each of the three situations in this scenario. I will also explain three ways I think Company Q can bolster its attitude towards social responsibility to improve its positive impact on all its stakeholders and the community it operates within. Each situation in the scenario has a component of merit and detriment to its stakeholders, but to me, I believe the attitude towards social responsibility by company Q is negative at the core. Company Q appears to be following more of a shareholder model, in which it is placing most of its emphasis on the shareholder and increasing profits without much consideration for its other stakeholders. For example, in situation 1, Company Q closed two stores in a major metropolitan area suffering from high crime rates due to a consistent loss of money. While this decision was beneficial to the shareholders, it will also put all of those stores employees out of work and eliminates a source of groceries for its communities. Situation 2 shows the emergence of a limited health-conscious/organic products section in the stores after years of requests from customers. But these items are all high margin items, maximizing profits for the company. These offerings serve the shareholders but not truly helping the customers due to the high cost. In situation 3,...
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...disclosures? 1c) Describe on of the differences in financial reporting between a Swiss company and the reporting in another country? Facts: Rob Carpenter senior manager at a prestigious accounting firm, recently transferred to the international division of acquisition and mergers. Mr. Carpenter was recently asked to make a recommendation regarding Nestle. Mr. Carpenter unfamiliar with the accounting in Switzerland has realized substantial differences between Swiss and U.S. accounting standards. Surprisingly, there are many “unnecessary” details in Nestle’s annual report including things such as social, environmental and employee disclosures. Furthermore, he notices differences in the financial statements. Mr. Carpenter is in charge of resolving the reports. Analysis: Multiple aspects of accounting and financial reporting affect the international community in different forms particularly in respect to needs of their prospective capital markets. The United States and Canada are equity-oriented markets, in these countries any individual is allowed to invest in the companies. The reports are typically a “public relations document that will present a positive image of the company” (Saudagaran, 2009). This may be a frowned upon practice by some parties but nonetheless its aim is to create marketability to attract the investor. As a result, investors may be more likely to commit their capital to a company that forecasts a favorable profit expectation in the future. The logic that follows...
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...------------------------------------------------- Executive summary Thankyou Water operates in the highly competitive, 600 million dollar bottled water market in Australia. This relatively new brand is seeking take advantage of changes in social attitudes and trends in Australia. Each dollar of profit that is spent on Thankyou Water products goes toward providing water to developing nations across the world. Social changes, have dictated that consumers are more conscious of business profit; this presents an opportunity to Thankyou Water. Additionally Thankyou Water has had to be wary of changes in legislation and any demographic shifts in the Australian population. Technological changes will allow Thankyou Water to become more efficient in the distribution of its product and packaging. Thankyou Water’s competitive advantage lies in the price of its product, and the need in which it meets as a socially enterprise. With each dollar of profit going to numerous water projects, Thankyou Water, appeal to this ‘socially conscious consumer’ in the Australian bottled water market. Thankyou Water is positioned similarly on quality to other bottled water competitors; however, Thankyou Water differentiates themselves on the intangible benefits the product provides. The four main competitors in the bottled water market in which Thankyou Water operate, include, PUMP, Frontally, Mount Franklin and the Gloria Jeans product, Water for Water. Each product is positioned...
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...1. How do the mission elements of Mission Management differ from most firms? Mission Management and Trust developed a unique strategy that highlighted socially conscious policies combined with good business relations. Founder Carmen Bermudez started Mission with three principal goals in mind. 1. To run a top-quality trust company; 2. To promote within the company and, by example, increase opportunities for women and minorities; and 3. To donate a portion of all revenue to charitable projects supported by clients and staff. This mission is very different from most trust management firm practices – firms are expected to provide economic sustenance and material well being. Most investors want a high rate of return for their trusts, and social policy and societal goals are of a much lesser concern. Mission was created with a specific purpose that was focused not just on the business of trust management but on the responsibility of being a good corporate citizen. 2. Does donating to charity before the firm is fully established mean that Mission is not demonstrating financial prudence? Mission Management and Trust is considered a fiduciary. A fiduciary is an individual or an organization holding assets for another party, often with the legal authority and duty to make decisions regarding financial matters on behalf of the other party. In all cases, fiduciary duty requires that actions taken on behalf of the other party be in the best interests of the other party...
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...Running head: TITLE RUNNING HEAD Use “Update Page Layout” to Change the Title Corporate Social Responsibility Business organizations in a capitalist economy operate in a fiercely competitive environment. What they believe to be the aims of a capitalist corporation and what they consider to be their duty is defined by two major norms. The “free market” theory claims that the job of any free organization is to maximize profit with a view to the shareholders benefits. In almost direct contradiction, the concept of social responsibility in organizations is taking root. This concept of social accountability shown by large corporations and organization is termed corporate social responsibility (CSR). CSR refers to the phenomenon whereby large organizations take into account the interests of society at large by talking responsibility for their actions and the effect of their actions on the employees, stakeholders and customers; impact on the environment and the community is taken into effect. Often this is seen to extend beyond legislative obligations; many organizations step into this sphere voluntarily to promote the interests of the employees and their families and overall wellbeing for society. CSR does not conform to any specific definition. According to Manakkalathll & Rudolf (1995) corporate CSR can be seen as “the duty of organizations to conduct their business in a manner that respects the...
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...popular that nearly every major company in the U.S. now integrates a significant commitment to social and/or environmental programs into its business model. CSR can be loosely defined as the adoption of socially beneficial and environmentally sustainable practices by corporate actors. The rise of CSR can be attributed to growing public disenchantment with traditional business practices that degrade the environment and compromise worker wellbeing, and resulting pressure from consumers and nonprofits on the private sector to reform itself. Instead of simply complying with government regulation, a company that is “socially responsible” adopts more stringent self-regulation ensuring that it is acting to minimize negative impact on the environment, its employees, its customers, and the community. The attitude that the corporate world should be responsible for adverse production effects has expanded into a broader conception of its responsibilities. It is now common to expect corporations not only to be accountable for their actions, but to contribute to solving the world’s problems. That is, corporations are now pressured to contribute to the creation of public goods like a healthy environment and poverty reduction as well as to absorb their own production externalities. Combined with the growing demand for “green” products, the private sector’s newfound conscience has caused many companies to build or redefine their goals to produce only socially responsible,...
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...This essay will illustrate the extent to which effective marketing must incorporate Segmentation, Targeting and Positioning. Segmentation, targeting and positioning is a three stage process. Segmentation describes what kinds of customers exist, targeting describe target market which is best to serve and positioning which describe segmentation by categorizing the products or services for that segment. Segmentation is “the process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment.” Segmentation try to find out what kinds of different consumers with different needs exist. Segmentation depend on? Gender Age Social class Personal Disposable Income Family life cycle Employment status Marital status / living arrangements and many more. Segmenting consumer markets - Geographic -Demographic -Psychographic -Behavioural There are different kinds of variable which are used for segmentation: -Demographic – to this belong: gender, income, education, location, and family size, ethnic. -Behaviour – some customers are “brand loyal”- customers stay with the brand they are stick to. Some consumers are “heavy” users while other are “light” users. Targeting evaluate the attractiveness of each segment. Defending a target market requires...
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...popular that nearly every major company in the U.S. now integrates a significant commitment to social and/or environmental programs into its business model. CSR can be loosely defined as the adoption of socially beneficial and environmentally sustainable practices by corporate actors. The rise of CSR can be attributed to growing public disenchantment with traditional business practices that degrade the environment and compromise worker wellbeing, and resulting pressure from consumers and nonprofits on the private sector to reform itself. Instead of simply complying with government regulation, a company that is “socially responsible” adopts more stringent self-regulation ensuring that it is acting to minimize negative impact on the environment, its employees, its customers, and the community. The attitude that the corporate world should be responsible for adverse production effects has expanded into a broader conception of its responsibilities. It is now common to expect corporations not only to be accountable for their actions, but to contribute to solving the world’s problems. That is, corporations are now pressured to contribute to the creation of public goods like a healthy environment and poverty reduction as well as to absorb their own production externalities. Combined with the growing demand for “green” products, the private sector’s newfound conscience has caused many companies to build or redefine their goals to produce only socially responsible, environmentally friendly...
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...Marketing Tom’s shoes and the One-for-One model Elizabeth Cardamone June, 2014 Abstract The main product that has created a distinction for Tom’s shoes in the business world is the alpargata, a shoe worn by Argentine farmers since the 16th century when they arrived from Spain. The alpargata became known as “the common man” shoe due its comfortable nature and inexpensive price (Kat, 2012). The shoe’s sole is made of rubber or fiber threads like hemp and features a canvas top for breathability. When Toms began in 2006 by founder Blake Mycoskie, he was in Argentina when he learned about this particular shoe. Many people could not afford shoes but the ones that could wore them to protect their feet from a foot fungus known as Podoconiosis or “Mossy foot.” According to the World Health Organization this foot disease is characterized by a large swelling of the legs and feet making it impossible for people to walk or carry out daily activities (2014). Tom’s classic shoe is the backbone for continued success and in order to sell the alpargata in the U.S it was improved upon with a more durable sole and offers a variety of colors and themes for a modernized market. However, what distinguishes Tom’s from the competitors is not just a newer version of a historic shoe but the business model it is built on. Blake Mycoskie was emotionally determined to give back to people who could not afford shoes after being in Argentina and with that, the one-for-one model was born. With every pair...
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...By Miguel Toledo Cruz 20199666 “Homework 2” Strategic Management Instructor: Dr. Sibin Wu Master in Business Administration Wednesday, September 12th, 2012 Do you think Apple is a visionary company? Why? Do you think Steve Jobs built a long-lasting company? Why? Nowadays, who do not know Steve Jobs worldwide? There are probably thousands of people who don't know who he is/was, but certainly there is a higher percentage of people that somehow has had contact with any of Jobs geniuses creations or now they can get access to several content at affordable prices that can be found in iTunes, there are several products, that makes Steve Jobs a visionary man, he started along with Apple a technological revolution, bringing to life total new concepts starting with new words, earphones, music players, music by itself, computers, etc. Moreover, I would say there are just few companies as visionary as Apple, from its very beginning the founders, Steve Jobs and Steve Wozniak, knew what they were doing and what they wanted to do next. Even though, this tech company doesn´t have a formal vision statement, is clear what they are doing, and they have a very well defined goal where they want to get, they just work every day in building the path. There are a couple of “quotes” that sometimes are described as Apple vision: "It's in Apple's DNA that technology alone is not enough. It's technology married with liberal arts, humanities that yields us the result that makes...
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