Premium Essay

Est 310.2.1-05

In: Business and Management

Submitted By WoodyMama
Words 703
Pages 3
Upon evaluation, it is painfully apparent that social responsibility has not been the driving force in Company Q’s business practices. Whether this is due to managerial neglect, malice, or just plain ignorance, the end result remains the same: the eventual economic demise of a company that was given every opportunity to succeed. Instead of responding with a knee-jerk reaction to negative feedback and responding slowly to market demands, Company Q must reevaluate how it conducts business. A continuous loss of profit was cited as the reason for the closure of stores in higher risk areas. Whether this loss of profit was attributed to theft or low sales was not given. Once Company Q determined these stores were operating in the red, so to speak, its immediate reaction was to close those sites and focus its efforts, and money, elsewhere. Instead of abandoning its stakeholders in high crime communities, Company Q should start asking questions and collecting data. Why, for example, were the stores not profitable? Could this possibly be the result of not offering the products demanded by that specific market? Company Q has the social responsibility to determine if it has done everything possible to turn these stores around. Relevant feedback is essential to any business and if Company Q fails to identify why these stores cannot turn a profit and if it fails to correct these deficiencies, that is exactly what it has done- fail. It has failed the stakeholders and investors financially, it has failed the employees who depend on Company Q to support their families, and it has failed the community that depends on the goods offered at those locations. Company Q has also fallen quite short in its effort to respond to market demands. Specifically, it offered a minimal array of healthy products, and only after repeated consumer demand over the course of years. At the very

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