Est Task 1

In: Business and Management

Submitted By ashsandlin
Words 577
Pages 3
WGU
EST1 Task 1

There are many challenges that face every business whether they are large or small but one thing all businesses have in common is that they all seek profitability. However, a business’s primary goal should not only include maximizing profits, but also have positive social integrity. Being both profit-oriented and socially responsible can make beneficial impacts to the stakeholders, communities, customers and staff while also making substantial earnings.

Evaluation of Social Responsibility
Company Q, a small metropolitan grocery store, has faced several challenges. Their actions towards making necessary changes exhibit their substandard view that companies should not have towards social responsibility. Recently, Company Q made a decision to close down two of their stores due to high-crime-rates in the area and also lack of profits. With Company Q being a small business in a high-crime area they would need to find a way to not only survive, but also prosper; whether or not that is to invest in more security and be cautious of who could be a potential customer vs. being a threat. However, closing two stores due to being in a high-crime was not the only consequence that will hinder their terrible profit margin. Company Q’s lack of understanding of their customer’s and the community’s desires will impede the business as well, consequently hindering profits even more.

Recommendations
Company Q, after years of requests from customer, began to offer a limited selection of health-conscious and organic products; but, not fully meeting consumer’s wants and needs. With the dramatic rise of health-conscious food requests sales can flourish as consumers reach for products containing better ingredients. As Company Q introduces new organic items with added value they can also increase prices, which will mean a higher profit margin. Company Q can…...

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