Forthis assignment, you will research a business that is predicted to be gone inthe near future and analyze why the business is headed downhill and what thecompany could do to counteract these failures. This information,which utilizes concepts from across Module 1, will be presented as apaper,
Quicklythink of a brand you used to buy or a store where you used to shop that nolonger exists. Do any of these names ring a bell?: Blockbuster, Radio Shack,Wachovia Bank, Sports Authority, Pier 1, Circuit City? Businesses like thesefade from memory soon after they close as the business environment replacesthem with bigger, better, or newer products, goods, or services.
Whatis it that causes formerly “top” businesses to fail? While every business andits circumstances are unique, the cause of failure can usually be traced to bigchanges in the external or internal environment.
Your Task—–(2 PAGES RESEARCH):
Researcha business that financial analysts predict will be gone in thevery near future. You must provide the source for your research.
Basedon your findings what are the concepts (please highlight at least THREEconcepts) from the module that are negatively impacting thebusiness. How are they impacting it and what can the company do (inyour opinion) to try and counteract? Why will this work?
Yourresults may be presented as a paper ( 1-2 pages content – Double Spaced).
To Prepare forthis discussion, review the video The Business Benefits of Doing Good inthe Learning Resources.
Fromthe beginning, CSR has been the subject of much debate. CSR’s critics arguethat the main responsibility of businesses is to maximize return to theirshareholders. They point to the corporate legal system as the proper place forregulating businesses’ conduct with society. And besides, businesses arealready fulfilling a key public service by providing jobs and services thatsociety needs.
Othercritics assert that many so-called CSR activities are really just publicitystunts. Supporters of CSR contend that there are significant profit-relatedbenefits in socially responsible behavior. Companies are using their CSRactivities to recruit and keep the best management talent and to establishpartnerships with communities to increase company influence on legislation. Andcompanies that make social responsibility an integrated part of their businessactually are managing risk—a key part of corporate development strategy.
Forthis discussion, students will watch a 15 minute TED Talk by Wendy Williams onCorporate Social Responsibility (CSR) and a broader take on that concept, TotalSocietal Impact or TSI. After watching the video and usinginformation gained in the module readings, particularly Chapter 2, the studentswill respond to the questions below.
· Discuss your thoughts on one or moreof the following:
o What do you think business’ role is in giving back tosociety?
o Does it have a positive impact on the business or is it justan added cost?
o Does it matter the size of the business?
· Find at least one recent example(within the last year) of a business that gave back to the community anddiscuss what the financial impact was on the business.
STUDENT 1 POST:
Business’role in giving back to society varies from business to business. Although somebusinesses may be smaller, each business can give back in meaningful ways. Oneway for smaller businesses to give back may be through charitable means or evenvolunteering in their communities. Some larger businesses have seen a greatdeal of success in donating to well-known or little-known causes. In our TEDtalk, we watched the speaker mention how Mars partnered with many NGOs toassist farmers in increasing their yield and quality of cocoa crops. Investingback into the communities by large or even smaller businesses source from itcan substantially impact future growth for those organizations. In some cases,the financial cost may be high; however, the tertiary effects on businessreputation and consumer faith in a company may have long-term benefits that maynot be as measurable in the near term. One interesting example I found was withChewy, a pet supply company.
During theCOVID-19 pandemic from 2020-2021, Chewy partnered with GreaterGood.org todonate more than $3 million to animal welfare organizations (Editorial, 2021).By providing donations of pet food, healthcare supplies, and other petnecessities, animal rescues have still offered an essential service to society.At the time of publishing in February 2021 of Chewy’s donations to animalwelfare organizations saw their shares surge from an average of $79 to $120 pershare. Chewy similar to other companies that were first to the market to offeronline-based subscription services for supplies, has seen a significantincrease in use due to the pandemic and most likely will continue to see anincrease in revenue. Lastly, according to macrotrends.net, since 2018, Chewy’sannual revenue has seen a 48.86% increase per year (Chewy revenue 2019-2021:CHWY 2021).
Chewyrevenue 2019-2021: CHWY. Macrotrends. (2021).
Editorial,C. (2021, February 25). Chewy,greater good Charities partner to Help shelter
Animalsaffected by current events.BeChewy. https://be.chewy.com/were-partnering-with-greatergood-org-to-support-animal-shelters-and-rescues-impacted-by-current-events/
STUDENT 2 POST:
There areseveral benefits of doing good and several reasons why businesses do so. Theyseek to have benefits of their deeds, but their reasoning for doing so variesfrom person to person. Whether its moral beliefs or beliefs of their consumers,etc.
The benefitsof doing good can improve company image, or cater towards the consumersbeliefs. That can be charity, paying fair wage, supporting to local causes orwhat their company believes in.
This causestheir consumers to believe the company is ethical and they find ways to supportthe company. People may choose to support a specific company compared to theircompetitors because they support a certain cause.
An example Ican think of is the recent surge in the cosmetic industry about cruelty freeand vegan companies. Many consumers are choosing to buy from brands that do nottest on animals because it is a cause they believe in.
Iwould personally support a company over another if they supported a cause Ibelieved in. I would assume that a large number of people would also think thesame way as I do.
*****Respond to each student post individually by either oneor more from below by either:
· Ask a probing question.
· Share an insight from having readyour colleague’s posting.
· Offer and support an opinion.
· Make a suggestion.
· Expand on your colleague’s posting.