A business in today’s economy and market can only thrive when it has a strong relationship with its employees, customers, suppliers, stakeholders and community. When this relationship is strong the business will be successful, if the relationship is weak or untrusting the business will waiver and eventually fail leaving the community with an unforgiving sense of mistrust. A business has a social responsibility which can be defined as an organizations obligation to maximize its positive impact on stakeholders and minimize its negative impact. (Ferrell, 2009).
Company Q’s attitude and actions towards the given circumstances and scenarios do not meet the definition of being socially responsible and are quite disappointing. When Company Q ...view middle of the document...
Company Q has now put working people out of a job who depended on that paycheck every week or other week who were trying to better their situations. Company Q states that these doors were closed due to profit loss it seems as though this is just an excuse to use as a tax write off or to just cut their losses. There are other ways that Company Q could have tried to keep the store open talk with community leaders, talk with the customers. Did they just not offer the products that their community desired? There has to be a reason that these two stores were losing money despite the high crime area.
Company Q started offering high margin items that were health conscious and organic in all of their stores citing that this was at the request of customers for many years. This can be seen as a step in the right direction by offering the products that customers want as apposed to what Company Q felt they needed. Understanding customers is the key to a successful business but offering these high margin items to a demographical area that does not have the financial means or the desire to purchase these items will not help Company Q in the cost saving department. When your demographical area suggests that you should carry a certain type of food then to be successful in your area those need to be provided or should be marketed upon. If the specific store is built to serve the needs of a community then that is exactly what it should do, serve the community listen to the people and then provide the products that they are wishing to purchase. By doing these thing properly it will give Company Q a competitive edge over the other companies in the market area.