Premium Essay

Est1 Task 310.2.1-05

In: Business and Management

Submitted By dacia7
Words 944
Pages 4
To: Company Q
From: Classifying Your Success Inc., Business Consultant
RE: Evaluation and Recommendations for Company Q’s Recent Modifications

Dear Company Q,
Per your request, I will evaluate your business outlook and your recent modifications on how you have or have not made socially responsible decisions. I will then provide stable recommendations for the company’s benefit and best interest. This evaluation and recommendation regarding social responsibility relates to the closing of two facilities, adding new products at the request of your customers, and your denial to donate day-old products to a local food bank. Keep in mind that social responsibility in business can be defined as “an organization’s obligation to maximize its positive impact on stakeholders and to minimize its negative impact.” In addition, “companies have an economic responsibility to be profitable so that they can provide a return on investment to their owners and investors, create jobs for the community, and contribute goods and services to the economy.”
Your decision to close the two stores in high crime rate areas, reportedly because the stores were consistently losing money may be unhealthy to the future success of the business. The threats to be considered in this situation are 1) losing that geographical customer base and having to make up for the loss within your existing locations and 2) attracting investors to support your upcoming endeavors because those two businesses were not profitable or sustainable. Although closing the two stores was inevitable and would hopefully be viewed as a safe, yet sacrificial business move; my recommendation here would be to take charge in executing extensive marketing and advertisement campaigns for a grand opening day launching the new product line. This will aid in developing a new customer base and strengthen your existing

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