Est 1 Task 1

In: Social Issues

Submitted By shatanyam
Words 1179
Pages 5
In today's fast-changing business world, companies are facing multiple new environmental, social, and cultural challenges that in large part determine their capacity to establish, maintain, and protect their business, and to deliver sustainable growth to benefit all (Quinn, 2013). Company Q, a small local grocery chain, trying to survive in a thriving metropolitan area, is in the midst of those challenges.
Part A: Based on the given scenario, evaluating Company Q's attitude toward social responsibility, is best achieved by identifying how the companies commitment, or lack thereof, is in line with the four aspects of social responsibility: economic, legal, ethical, and philanthropic. Economically, Company Q has shown little interest in being social responsible. At the most basic level, all companies have an economic responsibility to be profitable so 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 (Ferrell and Pride, 2006, p. 91). Company Q has closed two stores in high-crime areas stating that these stores were continuously losing money. It was not stated why the stores were losing money or if the company took any measures to prevent the loss of profits. The closing of two stores, without taking proactive measures to regain profits, not only affects Company Q's future profits but also has a negative effect on the community in which the stores were located. The loss of jobs and lack of choice of stores could cause the inhabitants of the community, and nearby communities, to seek alternative shopping choices, including Company Q's competitors. Legally, there is no evidence that Company Q has committed any unlawful acts and is therefor assumed to be committed to this aspect of social responsibility. Ethically, Company Q has not shown any interest in…...

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