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3 years ago

Is it possible for companies both to maximize financial value and to be socially responsible? Explain.

Business

1 answer:

Amiraneli [1.4K]3 years ago

3 0

Answer:

This question is about Corporate Social Responsibility (CSR), which is basically being socially responsible (with the employees, community, environment, etc.) and at the same time trying to maximize the financial value of a company (which is a duty to shareholders).

It might be easier for some companies, e.g. service providers, while much harder for mining companies (and other extracting companies). But it doesn't meant that all companies should try their best to do it.

Some companies even benefit from being socially responsible and increase their income through higher sales, e.g. Ben and Jerry's actually increased their sales of ice cream by focusing on CSR.

Even small businesses can benefit from CSR since it increases customer awareness and loyalty, and that can lead to higher sales. E.g. the public image of local businesses that help to finance certain community services improves and that eventually leads to higher sales.

Customers tend to favor companies that they consider to be socially responsible, and if they have to decide between purchasing from a socially responsible company or from another that isn't, they will generally purchase form the socially responsible one.

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Jason trevor owns a commercial bakery in blakely, georgia that produces a variety of goods sold in grocery stores. trevor is req

guapka [62]

Unsure if there is a question posed or implied here. In any event, Trevor should have immediately researched and documented the suspect batch(es) of peanut butter, contacted any retailers who may have received the contaminated batches and then confirmed that those batches had been returned to his plant and destroyed. At the same time he should have instructed his employees to shut down the production of peanut butter, destroy the plants current output, and completely clean, inspect and retest the line in order to ensure that uncontaminated peanut butter was being produced. During this self-inspection stage, he shoudl have also notified the US FDA and reported onwhat had been done and documented.

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3 years ago

Slate is a daily magazine on the Web. Its business activities can be described by a number of variables. What is the level of me

svlad2 [7]

Answer:

A. The number of hits on their website on Saturday between 8:00 am and 9:00 am - Ratio.

B. The Departments, such as food and drink, politics, foreign policy, sports - Nominal.

C. The number of weekly hits on the Sam's Club ad.

This variable is quantitative in nature and thus its level of measurement is Ratio.

D. The number of years each employee has been employed with Slate.

It could be 0, 1, 2, or more years

This variable is thus quantitative in nature and thus its level of measurement is Ratio.

Explanation:

Data can be categorized as belonging to one of the following four levels of measurement;

nominal

ordinal

interval

ratio

The nominal scales are used for categorical variables which have no any quantitative value. For example, a person can be categorized as being male or female; young or old.

On the other had, the Ratio scale is tell us about the order, the magnitude and most importantly this scale has an absolute zero. The ratio scale unlike the nominal one is basically for quantitative data.

With these information we can now deduce the level of measurement for each of the variables.

A. The number of hits on their website on Saturday between 8:00 am and 9:00 am

This variable is quantitative in nature and thus its level of measurement is Ratio.

B. The Departments, such as food and drink, politics, foreign policy, sports;

This variable is categorical in nature and thus its level of measurement is Nominal.

C. The number of weekly hits on the Sam's Club ad.

This variable is quantitative in nature and thus its level of measurement is Ratio.

D. The number of years each employee has been employed with Slate.

It could be 0, 1, 2, or more years

This variable is thus quantitative in nature and thus its level of measurement is Ratio.

5 0

3 years ago

The overall process of dealing with all aspects of acquiring, keeping, and growing customers is referred to as ________.

Aleksandr [31]

value proposition is a clear statement that. explains how your product solves customers' problems or improves their situation (relevancy), delivers specific benefits (quantifiedvalue), tells the ideal customer why they should buy from you and not from the competition (unique differentiation).

7 0

3 years ago

Pedro, a sales manager, asks Rafael, one of his new recruits, to send him a sales report by EOD (end of day). Rafael intends on

Tom [10]

Answer:

Bypassing

Explanation:

Bypassing in the business communication means there is a miscommunication because the intended person derived incorrect meaning that result in misunderstanding. In the given scenario, the Rafael derived incorrect meaning of the sending report by the end of the day which he thought, he can send the report by leaving office and finishing it at home. However the manager meant that the report would be finished today within the business hours. So bypassing is the correct answer.

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4 years ago

Read 2 more answers

Wealth creating transactions are more likely to occur a. With private property rights b. With contract enforcement c. Both a a

Marina86 [1]

Answer: C

Explanation:

Wealth is the gradual gathering of profits, assets or income over a period of time. It is the gradual increase in ones assets over a sustained period.

Wealth creating transactions can be found both in contract enforcement and private property rights. The prosperity and economic development of a country can be attributed to the respect accorded to its citizens property rights.

Property rights gives room for entrepreneurship which can eventually lead to wealth accumulation. Contract enforcement also generate wealth for individuals.

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3 years ago