Category: Company

Part of the objective of Securities and Exchange Board of India is to hold requirements for truthful and orderly markets. In order to help gain this goal, the Securities and Exchange Board of India regulates a range of stock market participants. These encompass the following:

Stock Exchange

An inventory alternate is an organized market that brings all the investors or merchants together. It enables the sale and buy of shares through unique shoppers and sellers. Most of the trading in Indian stock market takes region on BSE and NSE. These inventory exchanges implement strict policies and guidelines that listed agencies and buying and selling individuals should follow.

Listed Companies

Also regarded as issuers, these are the businesses whose shares are traded on the stock exchange. All the listed agencies go via Initial Public Offering (IPO) and register themselves with the inventory trade after abiding through all the prescribed regulations.

Stock Brokers

Stock brokers are licensed by using the Securities and Exchange Board of India and are entitled to exchange at the inventory exchange. They act as the middlemen or dealers between the agents and the customers of stocks in the inventory market. For presenting these broking services, they obtain buying or selling fee from their clients.

Investors

Investors are additionally referred to as stockholders or shareholders. These are the people who personal the shares of businesses that are listed on the stock exchange. They are entitled to get hold of dividends and different benefits due to shareholders.

Clearing House

Clearing Houses are entirely owned subsidiaries of Securities and Exchange Board of India. They are formed to make sure the orderly settlement of trades done on a range of inventory exchanges. Clearing Houses settle the dollars and switch shares based on day-to-day transactions between sellers and buyers.

Transfer Agents

Transfer Agents report modifications of ownership of shares. They furnish the listed agencies with a list of its protection holders. Transfer marketers are also accountable for cancelling or issuing of certificates and distribute dividends.

Settlement Banks

The settlement banks perform the characteristic of accepting the credit score of dollars for price of stocks bought with the aid of an investor or verify payment of money when due. These banks debit or credit score the investor’s account throughout agreement and additionally file balances and different statistics as may be required.

Depository

A depository refers to an organization or an organization that assists in the buying and selling of securities. This group also holds securities in digital shape or in dematerialized form. One of the fundamental functions of the depositories is to transfer the ownership of shares from one investor’s account to any other when an exchange takes place.

Thus, each inventory market participant has a specific role to play in the suitable and easy functioning of the stock market.

1. Introduction:

Historically, the ultimate goal of any corporation has been, making money and increasing shareholder’s value because they are the owners of the company and without them the company won’t exist. However, in the last decade a concept called the Corporate Social Responsibility (CSR) started to slowly spread. Today, CSR became a necessity for a successful business as they recognize the numerous benefits to their businesses, employees, communities, and the environment. CSR is also sometimes described as the corporate Triple Bottom Line because both approaches are similar, include Environmental, Ethical, Legal and Economic responsibilities. Corporate Social Responsibility is when companies consider the impact of aspects of their operations on both internal and external stakeholders including customers, employees, communities, and the entire environment. Moreover, the latest and prominent definition of the CSR is the one stated by Howard Bowen who’s cited as the father of Corporates Social Responsibility. He defined the CSR as following: “the obligation of businessmen to pursue those policies, to make those decisions and to follow those lines of actions which are acceptable by our society’s values and objectives” (Bowen, 1953). The CSR dated back many years, and by the 1920s discussions about this concept in business applications had evolved into what can be recognized as the modern corporate social responsibility movement. Industrialization and the business impact on society led the companies into new vision and by 80s and 90s this approach was being subject of a notable debate, which in results many companies began incorporating social interests in their business practices while becoming more responsible stakeholders. And by the early 2000s, CSR becomes an essential strategy for many successful companies such as Coca-Cola and Walt-Disney who incorporated with strategy into their business strategies. However, CSR was not widely perceived as a large issue in the past till the great depression times. But, since the 1960s this concept has become an important issue not only to business but also to the theory and practice of laws, politics, and economics. Furthermore, companies that engaged in the movement of CSR will appear more attractive to consumers, therefore the company will be more profitable. Companies usually involve in the practice of CSR for many reasons such as to strengthen its brand name, aiming to make its business stand out, to differentiate itself and to enhance the company’s operation and increase its value.

2. Literature Review

The Corporate Social Responsibility has gained considerable interests among researchers and business organizations in the past decades. More companies are embracing the practices of CSR under different names for instance Corporate Sustainability, Social Responsibility or Corporate Citizenship. Additionally, these practices are being well reflected in the corporate’s reports, published on their website and other surveys and conducted by organizations to communicate their social responsibility actions and results. In an argument against the CSR began by Friedman (1970), he claimed that the only benefit for communicating the CSR to public is to increase the company’s profit. A recent research conducted by Doshi and 14 other authors, they disagreed with Friedman claims stating that CSR reporting can be implemented with both for profit and non-profit intentions. Further, some organizations contribute to society without even any desire for publicity, while others want to contribute with wide publicity with the expectations of a positive brand image. And, the standards of CSR practices vary from one company to another and from one industry to another. Some companies engage in the CSR to reduce the harmful effect of their operations on community and environment as a result of the business they involved in such as Oil companies. CSR programs are not aimed only to the external community but also toward internal ones. More and more companies now are concerned about employees’ benefits for greater productivity and retention, but it’s also arguable that this initiative could also be considered as a part of the CSR activities. Also, there is another recent trend difficult to understand whither it’s a CSR activity of only a branding initiative; were social activism is being mixed with branding (Doshi, et al., 2012).

In another literate conducted by Garriga and Mele (2004) with the purpose of clarifying, the CSR theories, they tried to “Map the Territory” by classifying the main CSR theories and related approaches into four groups. They believed that CSR theories and related approaches are focused on one of the following aspects of social reality: economics, politics, social integration and ethics. They classified CSR into these following groups:

• Instrumental theories where organizations are considered as instruments for wealth creation and that is its sole social responsibility. In this theory, only the economic aspect is considered in the interactions between businesses and societies.
• Political theories that led corporations to accept social duties or rights and participate in certain social cooperation.
• Integrative theories which is usually arguing that businesses depend on sociality for its continuity and growth and even for the existence of business itself.
• Ethical theories understand that the relationship between business and society is embedded by ethical values. Then, this theory will lead firms to accept social responsibilities as an ethical obligation.

All the theories have their limitations, the most challenging aspect for organizations is to use those theories to develop a new theory that would overcome these limitations. So, it’s required an accurate knowledge of reality and a sound ethical foundation (Garriga & Mele, 2004).

Worldwide companies are trying to improve their images by being socially responsible. It is no longer possible for businesses to make profit without taking due care of society. The Committee of Economic Development comprising leading US leaders identified three principles of social responsibility; creating products, creating jobs and contributing to the economic growth, sensitivity to the dynamic social values and dealing with emerging responsibilities. Moreover, the activities of CSR can be defined into seven general areas as reported by Ashridge Business School Study in 2005. Those seven categories of CSR are:

• Leadership
• Firm’s Vision and Values
• Marketplace Activities
• Workforce Activities
• Supply Chain Activities
• Stakeholder Engagement
• Community & Environment-related, Activities

In a research conducted by Sami Khan (2013), he shed the light on the practices of CSR in the Middle East, specifically in Saudi Arabia. He stresses the lack of researches about this subject conducted in the developing countries, and a little has been written about the Middle East organizations. Due to the adherence to Islam and Islamic values in the Middle East corporations, the CSR activities become highly relevant. Islamic values and practices are highly regarded in all aspects of life including work-life and businesses in the Kingdom of Saudi Arabia. Local media in Saudi has provided evidences of many companies who succeed in the implementation of CSR activities. However, there is an absolute dearth of organized research available on the Corporate Social Responsibility in Saudi Arabia. It was reported that, CSR in Saudi Arabia is in its early stages and it tends to lean toward being classical and viewed as philanthropic/altruistic rather than having a strategically orientation. In 2008, CSR leadership meeting was held at Riyadh that identified several challenges of the CSR in Saudi Arabia. The first Challenge is the lack of awareness about CSR in Saudi Arabia for concentrate practices, implementation tools, and methodologies. Second challenge is the lack of institutionalization in companies and in business committees. The third challenge identified was the mismatch between the need for CSR practices and skills taught by local colleges and universities. And the last challenge discussed is the lack of resources available. Whereas, some opportunities were also identified during the first leadership dialogue which are: the strong longstanding and deeply embedded culture in term on “Zakat”, the growing interest in CSR amount corporates, increase the government support for improving the economic competitiveness, and the leadership emerging from the Chamber of Commerce to establish committee for CSR (Khan, 2013).

3. Application:

Addressing social challenges has always been a priority for companies. Thus, some large companies’ lunch projects that aim at engaging with different stakeholders. For this, in this section potential CSR metrics adopted by companies with the best reputations in CSR will be considered.

3.1 International Companies

Under the Reputation Institute’s, 2018, Global Social Responsibility RepTrak 100 Rankings study, Google has the best reputation for Corporate Social Responsibility worldwide. The study measured the CSR by the company’s commitment toward its employees, its role in society and its ability to meet its fiscal obligations of shareholders. Google is also known for its philanthropic, is has invested a large sum and resources for such activities. Even, it is devoting its resources to make lives better for people around the world, and offering many educations and learning opportunities for its employees.

The focus of Google’s CSR strategy is to offer education and learning for the underprivileged, and the underrepresented to insure quality education and a better career for those. There are other several leading companies in the IT industry such as Amazon, Microsoft and Apple that’s also working to make IT education possible for the marginalized students. Another focus of Google CSR strategy is investing in projects and non-profit institutions that work to improve employment. Furthermore, another important social issue Google is trying to address is to help those who have been discriminated on race by encouraging racial justice and empowerment.

Another example of an international company that succeed in the implementation of Corporate Social Responsibility is Walt-Disney. It’s one of the largest and most well-known corporations practicing CSR; its strategy is all about the natural environment and support for solutions to community and societal issues. An examination into Walt-Disney specific programs and initiatives contained in the CSR strategy shows that the company is using a holistic approach include four main components. Those main components of Walt-Disney’s CSR strategy are:

• Environmental Stewardship, this strategy part helps to enhance the sustainability and the greening of the global business by emission reduction and water conservation. Water diversion, programs at Walt-Disney aim to reuse and recycle materials in amusement parks and resorts to reduce the amount of water sent to landfills.
• Conservation Funds, this CSR strategy part includes programs for saving wildlife, protecting the planet and facilitating community involvement. Also, the company has corporate citizenship programs via non-profit organizations, along with related literacy programs included in its theme parks and resort’s operations.
• Charitable Giving, funds and resources are provided to non-profits for many reasons.
• Volunteering, this strategy part focuses on solutions of problems of interest to stakeholders such as through the volunteer to support skill’s development among the youth.

3.2 Local Companies

There are also some good companies in Saudi Arabia who are promoting good Corporate Social Responsibility practices such as Saudi Aramco, SABIC, Abdul Latif Jameel (ALJ) Group, National Commercial Bank (NCB) and Savola Group.

Saudi Aramco is a leader in creating a sustainable social and economic opportunity for many in Saudi Arabia. Recently, Saudi Aramco is focusing its CSR operations in four important areas: the economy, community, knowledge, and the environment. It has invested billions of dollars in more than 100 ventures to create thousands of jobs also it brought more than $70 billion in the Kingdom through foreign investors in huge joint venture projects. And, Saudi Aramco supports more than 150 charities both inside Saudi Arabia and abroad that serves many causes. Furthermore, the company organized its forum about CSR on February 2012 with the objective of finding a platform to connect expertise in the CSR with a view to exchange experiences, transferring knowledge, and designing the best sustainable programs to fulfill society’s requirements. Savola group is another successful CSR example in Saudi Arabia, it’s a Saudi Public listed company and one of the largest diversified companies in the MENA region. The company has been successful in many initiatives under the CSR strategy such as Saudization of its workforce. Moreover, Savola group won CSR award in 2007, and has established a separate CSR department under a director-level executive that has a well-defined CSR strategy. Its mission aims to work in achieving world class standards of openness, transparency, and accountability toward all its stakeholders.

4. Discussion:

Many researchers have recognized that the activities of an organization have an impact on the external environment and suggested as a role of responsibility companies should report the impact of their company’s operations on society. Such a suggestion is first arose in the 1970s which later named the CSR reporting or sustainability reporting encouraging transparency. This suggestion has not always been accepted and it has been a subject of an extensive debate. Thus, some writers believed that corporations should not be concerned with the social responsibilities such as the statement made by Milton Friedman in 1970; he stated that the only social responsibility of a business is to engage in a fair competition and doing activities that increase its profit without deception or fraud. Friedman argued that corporations should focus on those activities that are directly related to the company’s profit and effectively excluding charitable activities that doesn’t generate direct revenue. And, he demonstrated that companies need to stay within the rules of the game, avoiding deception and fraud which implies that directors should not act at all just to maximize profit as they have to comply with the laws and follow ethical customs. It’s apparent that any action that an organization undertakes will have an effect on the external environment. This effect can take many forms for example; utilization of natural resources as a part of the production, the enrichment of the local communities through the creation of jobs, distribution of wealth created by the firm and its effect upon the welfare of the individuals, and much more. All effects have significant effect on the external environment, and it can actually change the environment. However, CSR is complex and difficult to define. And because of the uncertainty surrounding this subject, three principles of CSR activities was established to define those activities. The principles are: Sustainability, Accountability and Transparency. First Principle is the sustainability which is about the effect of present actions on future results. Second principle is accountability concerned with recognizing the effect of the actions taken by the firm on the external environment and take responsibility for the effects of actions. And lastly, transparency as a principle means the organization is responsible of reporting and presenting facts to public about all effects of the actions undertaken by the organization and including the external impacts. In conclusion, CSR is a broad topic which leads to many options and can be considered in many ways.

5. Identification of Moral and Ethical Aspects

The term ethics relates to a serious and systematic set of values, norms, beliefs, attitudes, and behavior standards applied by certain people living in a certain place and time (Horodecka, 2014). During the past twenty years the media portrayed many scandals done by companies, it emphasizes the growing concerns about identifying a proper way of behaving for companies to follow. The ethical behavior is not only respecting the rights of the shareholders but stakeholders and the environment reflecting economic and legal and ethical standards. Such behaviors are building the core of the concept of CSR. Therefore, socially responsible corporations should supply relevant ethical norms such as reliability, honesty, fair conduct, loyalty, and faithfulness to make commitment and obligations. Further, the ethical code is one of the most frequently used tool to provide employees with information on applied values, norms and accepted conducts in key areas. This tool promotes human, employee, and environmental rights and providing means of fighting corruption, especially in areas of high corruption risks. The actions included in the ethical codes aimed at both internal and external stakeholders. Moreover, the ethical codes of companies differ from one company to another due to differences in the traditional, organizational structure, and industry, its effort to make principles, norms, and values. However, there are many universal norms that are applied by all companies such as the employee rights. There is no company can be free from an unethical behavior but if business ethics understood and applied it properly they will determine a path toward the moral behaviors and shape character traits, manner of thinking and engagement of people in organizations.

References:

1. Crowther, D., & Aras, G. (2008). Corporate Social Responsibility. Ventus Publishing ApS. doi: 978-87-7681-415-1
2. Doshi, V., Srinivasan, V., Pradyumana, K., & Vohra, N. (2012). Corporate Social Responsibility: Practice, Theory, and Challenges, 37(2). DOI: 10.1177/0256090920120207
3. Garriga, E., & Mele, D. (2004). Corporate Social Responsibility Theories: Mapping the Territory. Journal of Business Ethics, 53.
4. Hopkins, M. (2014). What is corporate social responsibility all about? Journal of Public Affairs, 1. Retrieved from https://www.researchgate.net/publication/246912286
5. Horodecka, A. (2014). Ethical aspects of corporate social responsibility.
6. Ihlen, Ø. (2013). Corporate social responsibility. In R. L. Heath (Ed.), Encyclopedia of public relations. Thousand Oaks, CA: Sage.
7. Khan, S., Al-Maimani, K., & Al-Yafi, W. (2013). Exploring Corporate Social Responsibility in Saudi Arabia: The Challenges Ahead. Journal of Leadership, Accountability and Ethics, 10 (3). Retrieved from https://www.researchgate.net/publication/281320942
8. Rionda, Z. (2002). 21st Century Corporate Social Responsibility: Advancing Family Planning and Reproduce Health. CATALYST Consortium.

Introduction

Decision making in companies can be a synonym of management, every manager makes hundreds of decision everyday that range from simplest things to critical and life altering decisions for the organization he manages, making these decisions gets more complicated the more important they are or to what level they are related to, whether it is in HR or in operations or something that affects every department like expanding or merging.

In this study we will shed a light on NASCAR corporation and how the management dealt with some big decisions in front of it.

Background

NASCAR or the National Association for Stock Car Auto Racing is an American car racing organizing company that is famous for stock cars races, it has many series of both national and regional racing series, it organizes more than 1500 race on over a hundred racing track in the USA, Canada, Mexico and even Europe and Japan and Australia.

Although it’s one of the fastest growing sports companies in the US, and has millions of fans and making billions from TV deals but the company is preparing for expanding and to target other demographics and market as it is nearing the point of saturation of its current setting and has started to show some recent decline in attendants and sponsors and face with challenging circumstances.

in this case study we will be examining the administration decision-making related to the expansions and the renewal (if we can describe it like that) of the company to reach wider audience and adapt to change happening around.

Case Analysis

Decision making by definition is the action of deciding about something big mainly for companies and bigger groups.

Decision making is the one of the most important parts of management nowadays if not the most important part, sound choices are the main feature of good management, these decisions play the biggest roles in getting to the corporation aims and goals and moving forward.

NASCAR has achieved stunning TV deals at the start of the century when they made a deal with NBC, TNT and FOX to broadcast the races and other activities the company produces and organizes, the deal was about two and half billion dollars from 2004 till 2006 but that wasn’t the end, from 2007 to 2014, ABC, ESPN, TNT, Fox and the speed channel paid almost four billion and half for broadcasting rights, all of these deals prove the efficient marketing tactics taken by the management to close them and the fruition of a series of other decisions that touched many sides of the company regulations and dealings aimed to grow it further, some of these decisions changed some of the old regulations that dictated the races, to achieve better safety standards for drivers and fans alike, and reduce the accidents without affecting the action and danger that attracts many of the fans some of these regulations like:

• The requirement of neck and head restraints for all the drivers.
• Crew members have to wear helmets in pit stops and during the race as well.
• All drivers and crew members are must wear special suits that are resistant to fire and flames.
• Special speed regulations and limiting equipment must be installed for particular high speed tracks and races.
• Harder and more tighter regulations for the technical specifications of the cars must be followed after the death of Dale Earnhardt for increased safety.
• And the must use of SAFER barriers around the track to better protect drivers in case of impacts.
• Increasing of the frequency of tests for cars and tires and cars safety equipment before all kinds of races and number of random tests.

There were also other regulations improvements related to how points were awarded and to penalties to increase the competitivity of the races and to reward better driving skills and penalize drivers who drive (dirty), and giving more points to spectacular wins or close wins and caring for the situation on the track more by increasing the use of flags during races which also increased the entertainment of the races as all those changed increased the number of lead changes in races substantially

Upgrades and changes didn’t happen on the tracks and pit stops only but extended to new racing events like Chase for the Sprint Cup that worked very well to close the deal for broadcasting for 4.5 billion dollars.

Something else was very new which is the inclusion of foreign car maker Toyota vehicles to compete which hasn’t been since decades and that proved fruitful although it dominated the different racing series NASCAR organizes yearly.

Going wider through the levels of organization, the management also went after different demographics and markets by organizing races in Mexico and Canada and the introduction of institutions that are similar to academies to promote and empower and support female drivers and train them because more than 40% of the audience are females.

Reaching out for wider audience didn’t mean abandoning or ignoring the loyal fans, as the company listened to the fans suggestions and requests related to regulation and organization like allowing only one car to qualify to knock out stage which was met by controversy first but proved to be favorable among the crowds.

Another step in that direction was better exposure in social media through Facebook and Instagram that was called Behind the Wall where some episodes of behind the scenes and interviews and reactions of drivers and crew members and NASCAR employees were done.

These decisions establish a good framework for the future but at the same time these steps aren’t enough for the future, more decisive and fundamental changes over them need to be done to stay at the top and competing, especially the slowly falling ratings and attendance numbers reductions lately, some more research must be put to take NASCAR where it aspires to be.

The negative decisions must also be noted down because they continue to affect the reduction in numbers of audiences around the country like increasing price tickets and lack of coordination with local hotels around race tracks that would also help in attracting people if it was better managed and to return more money into the sport through sponsors and teams and into maintenance of race tracks and introducing more fan favorite aspects of the sport.

This related to management to always keep an eye on long term goals and strategical thinking enough and not just get busy with tactical and day to day affairs.

Conclusion

In the end we would like to emphasize on the role of refreshment of management to get new perspectives and new sets of eyes on the play field because they can come with new ideas to boost the company, also to emphasize on informed decision making and how important to put the corporation resources in serving of proven opinions and educated decisions and making specialized teams to address different facets of the company and the sport and challenges that face it daily and seasonally.

Mixture of mainly good but some poor judgment affects this company noticeably, as it lacks some vision in the higher levels of administration and this situation must be dealt with quickly before it aggravates and worsen in some sudden case of emergency whether internal or external as good management should be ready to deal with all conditions and learn from past situations and experiences to improve the performance in the future.

Questions

1. What criteria do you think would be most important to Brian as he makes decisions about the company’s future?

– The Answer is he should focus on research into how to attract newer generations into the sport and how to keep them, and research for even better ways t manage resources to ensure booming future and reverse the current decline and to attract new sponsorships to keep the races full of action and randomness instead of the dangers of becoming stale and predicted and dominated by same names year-in year out, and lastly some good adaptivity and to accept the mistakes and using them to build and move on or to correct the path into better decisions in the future instead of being stubborn and insisting on only one way of doing things even it was new or had held some proof one day, because of these daily changing times.

2. Would you characterize the conditions surrounding NASCAR as conditions of certainty, risk or uncertainty? Explain your choice.

– The Answer is risk, because of the many risky factors and number of challenges it faces the whole auto sport scene specially and for emergence of many new demographics and markets that will need to be attracted over long time to become hardcore fans for the sport and therefore the company beside that there is also the economic situation and how it shall be dealt with care on all levels whether for company itself or for the audience who are also hit with it.

References

1. Birchfield, J. (2019, May 12). Finally, a pair of NASCAR decisions to applaud. Retrieved November 25, 2019, from https://www.johnsoncitypress.com/Motorsports/2019/05/14/Finally-a-pair-of-NASCAR-decisions-to-applaud.html
2. Wikipedia contributors. (2019, October 12). NASCAR rules and regulations. Retrieved November 25, 2019, from https://en.wikipedia.org/wiki/NASCAR_rules_and_regulations
3. Facebook. (2018). NASCAR and Bubba Wallace Find Marketing Formula for Facebook Watch. Retrieved November 25, 2019, from https://www.facebook.com/facebookmedia/blog/nascar-and-bubba-wallace-find-marketing-formula-for-facebook-watch
4. Haden, J. (2019, September 1). The Business of Sport: How NASCAR Works to Blend Great Competition with Compelling Entertainment. Retrieved November 25, 2019, from https://www.inc.com/jeff-haden/the-business-of-sport-how-nascar-works-to-blend-great-competition-with-compelling-entertainment.html

1. Introduction:

The importance of drawing a strategic plan is vital to determine the success of a Company, ‘Where do you want to play and how are you going to win?’

Equally important, to develop a business strategy a company needs a good understating of what it is and what it represents. (Vision, Mission Statement and Values). Once achieved a deep understanding of the company’s vision, mission and values then it will be helpful to start thinking about the strategic analysis process.

From the scenario, we can see that HFL seems to be a company with a well-defined strategic process.

An environmental analysis of its current strategies it is important to make them aware of their operational inefficiencies, financial issues constrain and employee motivation. On the other hand, we have the external environment considerations that include the analysis of the change in customer tastes, political trends and economic shifts.

2. Industry Overview and Analysis:

As we can see from the scenario HFL operates and competes in the manufacture and whole of the gymnastics of high quality handmade gymnastics wear and associated products.

On the other hand, the company selling figures is divided Between UK sports retailers (60%), exports to the USA (35%) and Canada (15%) by using channels such as their websites.

The Industry of sports manufacture is constantly changing being influenced by many different trends. Under these circumstances the market environment evolving sports manufacturing brands are facing a lot of challenges to keep their position in the market, especially sports apparel/accessories which is demanding more technical clothes.

3. Porter´s Five Forces- Industry Analysis.

a. Barriers to Entry

Moderate

The demand for sports clothes is growing and requires a lot of capital requirements, distribution channels such as online sales and small shops. As mentioned above the differentiation of products it’s important especially in areas like branding, design, and branding.

Equally important manufacturing and sourcing costs tend to decrease which encourages larger firms to enter the market.

Besides, the legal barriers are moderate however many brands have patents for their unique manufacture purposed materials which is not a significant barrier.

b. Competitive Rivalry

High

HFL is competing with 6 other companies, where product differentiation is of high importance in the ‘quality of handmade gymnastics wear and associated products’.

Therefore competitive rivalry is high in the sports clothing and accessories industry. It is certain that there is a strong competition concerning, technological fabrics, pricing, design, branding, and features that can be exposed and affected by rapid changes in buyer preferences and product innovation called technological improvement.

To get advantage HFL invests in producing materials based on their quality and handmade products that tend to last longer. Consequently, that helps to build a strong brand image and a good reputation to avoid the customers to change to the competitor.

c. Bargain powers of buyers

High

Since there is a low cost in changing to the different alternatives the bargaining of power tends to be high. All the manufacturers are facing difficulties as the pricing system is very competitive to avoid losing the customer to the competition. Presently customers are more conscious of what they are buying as they read and inform themselves online before making a purchase and always attentive to the quality standards, in fact, the most important in the manufacturing of sports clothing is a strong brand image to protect the brand loyalty.

d. Bargain of Power suppliers

Low

Nowadays there is a fairly large pool of suppliers, in the case of HFL they have the ‘capacity and can sell all they can produce’. Obviously since the can produce it gives them the power to control prices, quality, and quantity. Besides that, it helps them give more pressure on their competition making the industry more competitive and decreasing profit potential for the buyer.

e. Threat of Substitutes

Moderate

Gymnastics clothes are unique, the threat of substitute is moderate, and ‘the global gymnastic market can be segmented on the basis of a variety of textile, style, sleeve length, size, demographics, sales channel, buyer type, gender and regions’, based on the quality and handmade process of HFL, specialized clothing has an advantage when it comes the make a decision from the customers point of view. Quality helps people to keep their trust in the brand.

f. Pestel Analysis

The Pestle analysis helps to evaluate the macro environment to which HFL is exposed, it helps the determine external factors that can influence the company`s performance in the manufacture of sports clothing global market.

g. Political Environment

Political factors can decide the survivability of an organization.

As a company manufactures its goods, HFL will always be subject to changes in tax and manufacturing laws the UK government suggested to increase the VAT on sporting goods to 22% to raise additional tax receipts, which can affect the sportswear market to shrink by 5%.

The decision to leaving the EU can increase their sales in the UK and decrease outside, however, the exportation to countries like the USA is ‘expected to rise’.

h. Economic

Since HFL is part of the 6 biggest companies in the market, a market collapse could bring bad news to HFL. The impact could make consumers choose/ switch to a different competitor, cheap products and leave quality to the end of their priorities.

i. Social

Social Status means brings more modernity and healthy consciousness in the industry, therefore will buyers buy more and more. HFL’s new initiatives on custom design can improve their social aspect which will make customers loyal to the brand.

j. Technological

Technology is transforming and forcing the industry to constant change, it gives companies the ability to innovate from different angles.

In Spite of being traditional, the HFL idea of a costume design website that allows customers to create and draw according to their needs and the automation of their cutting process it shows that technology provides values to organizations like HFL. In other words, it helps them to optimize targeting, production and maximize revenue.

k. Legal

From the legal point is important that keep a clean sheet if VAT goes to the sales increase if the UK leaves the UE it important to follow the legal rules according to the changes.

HFL, being part of the 6 companies that produce quality products, should meet all the legal criteria’s that can cause a lack of loyalty from their customers.

l. Environmental

Positive environmental factors are becoming are gaining more acceptance by the customers and the government, not referred on the case it is important to HFL to invest in ‘Green products’ which will attain more market share in the sports manufacturing industry.

4. Scenario 2

a. Porter’s five forces

In this case, porter’s five forces have been used to identify the main factors that have a potential impact on the SCH and to understand the strategy used for their behaviour in the health Sector.

b. Competitive Rivalry

Private health care rivalry manifests itself in many ways, especially in the context of public health care. The barriers to entry in the market are very high due to the high standards keep within the industry. In addition, government legislation also limits competition in the health care industry.

As we can see SCH receives most of the customers that are recommended by local hospitals and doctors and this is due to the service quality and quantity provided by them comparing to the public sector.

Therefore comparing with the SCH only loosed to the public sector in pricing.

c. Bargaining Power of suppliers

SCH has diversified their services and a small central team who are the key point of the patients and nursing staff. Also counts 150 employees who provide service to around 800 patients

d. Bargaining Power of Consumers:

Most healthcare treatment is paid by insurance, that can be paid privately or by the government. In the case of SCH the prices are higher compared to the prince in the public sector, however, SHC has the advantage of offering higher services than the local hospitals and doctors.

e. The threat of New Entrants

Private care organizations can be seen as a new market entrant or as the reorganization of existing providers that will allow a better completion amongst them.

As we can see in the case there is a franchise company that is willing to enter into the market in South East London, which can end up affecting SCH.

f. The Threat of Substitutes:

Generally there always a competition between traditional and non-traditional private care providers and services. Technologies are vital to keeping up with the threat of substitutes in products and services, therefore it is important to SCH to invest in new technologies. (In the case it is stated the need for investing in portable medical equipment and probably in the future remote patient monitoring.

g. Key Strategies challenges:

‘The model of Healthcare Business has to rely on the value for the patient by creating competition concerning the results at medical condition level’ ( J MED Life, 20008).

Some of the key challenges for the SCH will be:

Competition Requirements in Terms of value offered to health care consumer, the main goal of a health care service is to deliver the service to the patients, it is important to know, who the client, what does he needs, is how can we create value and how do we need to organize ourselves. One of the important points is how do we respond when they are contacted, how can we meet their needs. Equally important never reduce client satisfaction, compromise quality, and limited coverage.

Maintain SCH high-performance standards of their own caring services delivery, focus on patient and employee satisfaction as it reflects also on the relationship with the patient, especially with elderly people.

5. SWOT Analysis

· Strengths

The costs of operating in private health care are low, being the UK one the countries with a large number of 65 or older people, therefore the demanding of the private health services increase substantially. As we can see from the scenario the costs from the private sector are higher than the public, however, the service provides from the private are with better quality and personalized. In addition the advantage of getting recommended by local hospitals and doctors. Previous studies state the barrier to entry into this market is moderate ‘given the licensure requirements for these businesses.’

· Weaknesses

Comparing to public health care organizations, a private system in much expensive there it can limit some of the people as they don’t have the capacity to pay unless they have help from insurance companies or government funding. The constant rise in costs can result in the closure of private care companies.

· Opportunities

SCH has the opportunity to expand their business when it comes to getting routine treatments after a GP surgery since they have qualified nurses that can apply the same procedures that are used in the public sector. The service for a short term required and the investment in portable equipment that can provide a better customer experience leaving the patients in their comfort zone.

· Threats

A large number amount of business enters on this market, as we can see a local newspaper has reported: ‘that a new franchised home care operator is intending to offer services in the south East’. Consequently, it can be a barrier to SCH to grow in Southeast London.

6. The four strategies of the Ansoff Matrix are:

a. Market Penetration

SHC should identify the right markets and regions to invest in with the right potential and growth potential; establish connections and partnerships with domestic and local companies through mergers and acquisitions so as to strengthen and improve the service quality

b. Product Development: It focuses on introducing new products to an existing market.

It is important to maintain the quality standards provided by SHC, establish a good private care plan so that product requirements can be transformed into actions; determine the private care market. Execute the product development plan

c. Market Development: it is based on the strategy to enter into a new market with existent products

As per the case of SHC there is a need to enter into the business of providing short term services to families since in private care some families have the need to have 24-hour service.

d. Diversification: It focuses on entering a new market with the introduction of new products.

Since the demanding from the patients is to get private care without moving from their homes, SCH needs to invest in portable equipment and training to nursing staff will be the introduction so the patients can get treated with their families by their side.

e. Suitability

Suitability Internal development is a good way for SCH to enter a new market, the opportunity of offering a better service compared to public care shows that SHC strong position in the market. Their position in the southeast London with highly trained and motivated staff helps them to deliver a high-quality service based on their statement ‘We treat our customer with respect and dignity and provide highly personalized and tailored home care services’.

f. Acceptability

SCH seems to behave their system in place to achieve maximum success. The fact that they are receiving a recommendation from doctors and local hospitals will help to expand their business and enter into new markets. Continued market development is also recommended for SHC enabling it to tap into new markets enhancing its growth, ensuring its sustainability and contribution to the enhancement of shareholder value.

g. Feasibility

‘Capacity of the organization to implement the strategy, especially focusing on the availability of resources’ (Thompson, et al., 2008).

One of the most SHC priorities should be diversification, the market is asking for private care as the public is losing the capacity to provide high-quality services. The investment in portable medical equipment will allow the company to keep a strong strategic position in the healthcare care market and achieve the necessary growth in the future. The need to pursue appropriate strategies is important to the growth and keep up with the rapid changes.

h. Strategic Recommendation/Conclusions

Based on the analysis of the scenario, SCH the consistency in the quality of the service by having patients who are increasingly better informed, aware of their rights, capacity to keep choosing SCH as their private care provider, a decision that can have a positive impact on the company`s financials.

The focus passed from the product or service to the patient, in other words, a great customer experience.

On the other hand the increasingly professional and skilled competitors, SCH needs to keep hiring qualified trained professionals and provided constant training to maintain their standards.

Equally important Measure Outcomes and Costs for Every Patient, as most of the health care system, are department-based and not patient-based, therefore good strategies here will design good strategies based on measuring the cost of care.

Meanwhile, one of the improvements SHC could be the integrated delivery systems by defining the scope of services and choosing the right location for each service line, like that it will be possible to improve SHC system of keeping everything close to the patients’ home or workplace.

Other points to implement strategies will be to expand geographic reach, it is important to SHC not to stay only in the South East London, as it is important to serve more patients on large scale by improving the value and not only volume.

Build an Enabling Information Technology Platform is also important is help SCH center on the patients, it uses common data definition, a medical record that can be accessed to all staff involved, the system can include expert systems for each medical condition and it is easy to extract information.

7. References:

1. Healthcapital.com. (2016). Four Pillars of Healthcare Valuation: Competition. [Online] Available at https://www.healthcapital.com/researchmaterialdocuments/publishedarticles/3_NACVA_TVE_Competition_Article.pdf [Accessed 11 Jul. 2019].
2. Popa, F., Purcărea, T., Purcărea, V.L. and Raţiu, M. (2008). Current challenges for healthcare services and the opportunities created by the marketing abilities. Journal of medicine and life, [online] 1(1), pp.16–22. Available at: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3018957/ [Accessed 11 Jul. 2019].
3. Healthcapital.com. (2016). Four Pillars of Healthcare Valuation: Competition. [online] Available at https://www.healthcapital.com/researchmaterialdocuments/publishedarticles/3_NACVA_TVE_Competition_Article.pdf [Accessed 11 Jul. 2019].
4. Harvard Business Review. (2019). The Strategy That Will Fix Health Care. [online] Available at https://hbr.org/2013/10/the-strategy-that-will-fix-health-care [Accessed 11 Jul. 2019].
5. Oxford College of Marketing Blog. (2019). Using The SAF Strategy Model to Evaluate Strategic Options. [online] Available at https://blog.oxfordcollegeofmarketing.com/2018/02/25/evaluating-strategic-options-using-saf-strategy-model/ [Accessed 11 Jul. 2019].
6. Anon, (2014). Strategic Management Report – A Strategic Pathfinder for STARBUCKS. [online] Available at https://www.academia.edu/9806255/Strategic_Management_Report_for_STARBUCKS [Accessed 11 Jul. 2019].

Doughnuts are the quick bite you get when you grab a coffee on the way to work. They are the colorful combination of frosting and sprinkles that you pass by in bakery windows. Doughnuts are an assortment of different flavors, each able to roll all the tastiness up into a single ring. They are the newfound place for cereal to sit atop for an on-the-go breakfast snack.

Doughnuts are America’s tasty treat; but what else do we know about them… what else comes to mind? For another food, such as pizza, it is easy for people to get lost in the cheesy and saucy goodness, while also still being able to recall the Italian heritage and the history behind the meal. For doughnuts, most people who indulge in their flavorful offerings haven’t a clue where doughnuts came from, any facts about them, or the whole industrial world that surrounds them. When it comes to doughnuts, there are a few holes missing, and no, not just literally.

The origin of doughnuts is all-American, and it embodies the stereotypical nature of American-born foods. The doughnut movement was first sparked in 19th century Maine with a young teenage boy at the core of it all when he punctured a pastry and made a hole in the center of it. The “hole” was made in part to get rid of the middle of the dessert, which could sometimes still be raw and uncooked, even after being fried up. Bagels, another food with the signature hole, and their already-established popularity aided in the immediate acceptance and love for this new treat. Soon, immigrants in New York began to pick up on the stir, and doughnuts began to spread across the country as fast as the talk of them, too (Sagon). Soon, businesses began, evolving into what we know now as big-name companies, such as Krispy Kreme. While the concept of making a hole to create the iconic silhouette is native to America, doughnuts themselves began as a Dutch treat. Their solution to the raw middle was to have something in the center that the dough could cook and rise around. This essentially became what we know as today’s “filled” donuts, like jelly or Boston Creme (Shipley Donuts). At the start of the hype too, doughnut production was slow, as everything was being done by hand, but that started to change with the invention of new machines and technology. In 1934, a Russian immigrant invented the first machine specifically created for shaping and making donuts. This helped the industry boom, and the machine was so successful that it was presented at the World Fair in Chicago (Shipley Donuts). The American approach to solving baking issues helped create the distinct and recognizable figure of a doughnut, and other aspects of American culture and history boosted the pastry’s popularity.

As the want for doughnuts grew increasingly, so did the market for them. In 1994, as the doughnut craze was still going strong, the sales were booming. Within less than 10 years, revenue increased from $6.5 billion to over $9 billion; equating to nearly 10 billion (and counting!) donuts consumed every year by Americans (Sagon). In more recent years, primarily two huge companies have dominated the industry, those mentioned being Krispy Kreme and Dunkin Donuts. In the United States, Krispy Kreme mainly controls the southern states, while we see Dunkin’ Donuts rules the north, each on nearly every corner. Meanwhile, on the West Coast, we see many smaller companies populating certain areas, each honing in on the newest trends and flavors (Atkinson). The larger corporations and big-name companies are those looking to expand, increase their revenue, and also to spread American influence, in the form of doughnut goodness, to the rest of the world. In India, a doughnut-battle has ensued between Krispy Kreme and Dunkin Donuts, each company vying for the largest influence. India is a component in expanding to the Western territory for many reasons, the most important being India’s nature to accept new foods quickly and incorporate them into their lives with ease. Studies show that in India, people are more likely to spend money on newer foods, and with the growing population of young folks in the country, who adapt even faster than their predecessors, any company can reap the benefits of expanding to India (Jacob). In the early 2010s, the two big-name corporations set out to expand in India, with Krispy Kreme looking to open about 35 stores and Dunkin Donuts seeking out nearly 80 to around 100 chain locations, both within the next five or so years. Their rivalry would practically be played out on every street corner in India (Jacob).

India isn’t the only large country in the consumption market either, and as of recently, Japan and China lead sales revenue (Market Watch). However, not every business is suited to battle it out with these companies in other countries, and not every business wants to. Many smaller doughnut companies, of about 10 or so shop locations, and locally owned businesses actually profit by reaching a smaller consumer group. While they won’t find astronomical success similar to the industry-leading corporations, smaller owners are able to test out new recipes and get direct feedback. They are also able to appeal to a more focused group, creating a better opportunity for effective advertising (Tristano). Larger companies can’t afford to make a mistake on a recipe or an ad and risk a negative reaction from customers, so it takes nearly 8 to 12 months to perfect the product for the public. Smaller shops are also able to build a large sense of community, and their integrity and reputation also bring in business (Tristano). No matter what part of the doughnut industry you choose to take part in, you are guaranteed to find success in America’s most popular market.

As the Earth, society, and people change, the doughnut world must learn to adapt. While it may be commonly known that doughnuts are not necessarily the healthiest of options, not many know the other factors that go along with the treat. Traditionally, doughnuts are flour dough that has been deep fried into their distinct, hole-less shape. The batter itself may contain any number of combinations of ingredients; such as sugar, milk, eggs, oil, water, and artificial (or in some cases natural) flavoring. But that is just the dough itself; the toppings, frosting, and glaze coating a doughnut can introduce high counts of sugar, of all shapes and sizes, into the mix (Market Watch). A plain doughnut, with absolutely no toppings, coatings, or flavors of any kind, is roughly 200 calories. For doughnut consumers, it only goes up from there; Dunkin Donuts’ biggest culprit ranks at about 300 calories and 16 grams of fat, while the famous Krispy Kreme glazed doughnuts are about 390 calories and 24 grams of fat… each (Carey).

Nutritional studies at the Tufts University in Boston have estimated that just one of these heavenly treats will result in “roughly 20% of USDA’s recommended allowance for fat, and 15% of the day’s allowance for calories” (Carey). These numbers don’t even include the more exotic flavors, toppings, and frostings available to us, which can be the equivalent of 27 grams of sugar and 700 calories, and that is the baseline for these new trendy treats. With their captivating and mouth-watering flavor shadowing over the statistics, it’s not hard to picture why America’s favorite food to eat is also one of the worst to eat (Renee). These numbers are scary to anyone who knows them and cares about their health; so the doughnut world reacted and proposed a solution: new recipes. There are dozens upon dozens of healthier alternatives to the traditional doughnut, the most notable being a mix of “stevia, honey, whole wheat or almond flour, dark chocolate, and other nutritious ingredients” (Renee) to substitute in. As the movement for healthier diets rocks the food industry, the doughnut world has found a way to outlast other competition by seeking out and testing a healthier alternative. Recipes that cut down the number of calories, fat, sugar, and carbs in the average doughnut significantly, without taking away from the beloved taste, are growing more and more popular as humans begin to care more and more about their diet. Doughnuts have made it possible to enjoy a tasty treat every now and then, while simultaneously keeping in mind the consumer’s diet and health.

Doughnuts can be seen almost everywhere in today’s world; on clothing apparel, household decorations, and on nearly every street corner in the US. Although doughnuts are derived from American roots, their presence spans across multiple continents and reaches the far corners of the world. Despite the unforgettable tastiness and their title as America’s most popular food, many people are unaware of the culture that surrounds them. From their quiet beginnings to near world domination, the doughnut industry has proved again and again its capability to adapt to those consuming it. Doughnuts appeal to all far and wide; bringing together locals and small business owners, adventure seekers looking for the craziest new trend to try, entire regions and large corporations, health activists and bakers alike… to now entire countries.

The American-born pastry continues to rise to success and never fails to bring a smile to whoever may indulge in all of its greatness.

Summary

Policies are significant in the working environment as they fortify and explain the standards expected of workers and assist bosses with overseeing staff all the more viable as they characterize what is worthy and unsuitable in the working environment. This paper focuses mainly on four policies: sexual harassment, non-discrimination, employee benefit, and dress code; particularly why they should be implemented in a small company.

Human Resources Policies

Sexual Harassment

Sexual harassment keeps on being a problem in American workplaces. In 2018, the United States Equal Employment Opportunities Commission review revealed that 1 out of every 4 women (25%) and 1 out of 6 men (16%) have encountered sexual harassment in the workplace (U.S. EEOC). In 2019, tragically, there are still great figures for this type of harassment.

Sexual harassment is a critical issue, and the ramifications for both workers and employers were not kidding and broad. People experiencing sexual harassment face working in a horrendous, threatening, or risky condition, frequently every day, in danger of physical or emotional trouble (Hunt, Davidson, Fielden, & Hoel, 2018). With efficiency and enthusiasm levels predisposed to drop because of harassment, their professional movement can likewise be influenced, and they may even get constrained out of their activity and income (Shaw, Hegewisch, Hess, 2018).

Companies additionally endure the effects of sexual harassment in their specific manner, getting subject to negative effects, for example, poor work culture, low morale and efficiency levels, and budgetary worries from higher staff turnover (Shaw, Hegewisch, Hess, 2018). Being free from sexual harassment is a fundamental human right. Furthermore, under US law, everybody has a lawful right to live and work free from sexual harassment. For workers, this implies both during working hours and at any type of business-related training exercises or capacities (Firestone, 2018). As a business, paying little mind to whether you’re a large company or small business, you must keep up a workplace that is free of sexual harassment. Fundamentally, businesses and managers find a way to advance a protected and positive workplace for their workers (2018).

The United States Department of Justice defines sexual harassment as “ any nonconsensual sexual act proscribed by Federal, tribal, or State law, including when the victim cannot consent (U.S. DOJ, 2018). Sexual harassment can take various structures. Regardless of whether somebody is staring improperly, making sexually interesting remarks, telling or messaging wrong ‘jokes’, or exposing an employee to unwelcome physical contact. These models are viewed as sexual harassment and must be tended to (2018).

The way to prevent sexual harassment is for bosses and executives to guarantee that they have a distinctive and unique policy set up, that characterizes sexual harassment and layouts’ unsatisfactory conduct and its results (Shaw, Hegewisch, Hess, 2018). Execute a proficient sexual harassment policy and give continuous training to all staff to make it obvious to each worker that sexual harassment is 100% intolerable in the workplace.

It’s imperative to set up the company as a no-resistance workplace for managing sexual harassment. The truth of the issue is that counteractive action is the key factor if the company needs to change its way of life. To do this, trust must be worked with the management by adhering to the arrangements and not permitting any worker, regardless of their position, to get away from a careful examination if a report is made (Firestone, 2018). If the company can guarantee protected and dependable methods if an employee reports sexual harassment, each representative will confide in the organization and have a sense of security about the method of approach.

Nondiscrimination

Age, sex, physical appearance, religious belief, sexual orientation … The list of discrimination in the world of work is long. Solutions exist to effectively combat this scourge, but the road ahead to reach a virtuous model is still long. Discrimination at work can be defined as unequal treatment between two individuals, not because of their productivity, but because of their gender, their belief, or their physical appearance (U.S. EEOC, 2019). Many employees feel discriminated against, but few can prove it. However, the law strongly sanctions this type of behavior within a company. But, difficult for example, when one is a candidate for a new position, to justify discrimination without having access to the profiles of other applicants. Concrete actions to fight effectively against discrimination, especially within companies, must be taken on a much broader scale. In this section, we will focus mainly on why small businesses as well as large organizations need to incorporate non-discrimination policies in their handbook.

Removing discrimination from your company is a test yet one that can improve the odds that you won’t need to fight previous employees in court or devise imaginative approaches to hire new candidates (Demuijnck, 2009). Building up an equal employment opportunity policy sets up a basis for a company’s crucial way of thinking on common regard, however, it’s just the beginning. Promise that policy requires the enduring help of the company’s most significant level of initiative, which streams down to directors, other managers, and staff (2009).

The work environment of the organization should give each representative a voice (Demuijnck, 2009). By battling against discrimination, singular employees are given opportunities and the conviction that they can accomplish and rise in their professions. Regularly, it is the least fortunate individuals who are oppressed, so giving them openings in your workplace empowers the improvement of confidence (Blanchflower, Levine, Zimmerman, 2003). Perceive the respect of every individual and commend it in an inspiring domain (2009).

Freeing your workplace of discrimination builds up a climate of solidarity. Your zero resilience of acts of injustice alongside your standards set a model for the employees. At the point when the company practices fullness by allotting workgroups made out of differing staff individuals, it shows confidence in the powerful organization (Demujnck, 2009). In like manner, promoting an employee who utilizes a wheelchair to a supervisory position represents your organization’s certainty that those with physical contrasts can execute just as others in insignificant-level positions(2009). A guarantee of a nondiscrimination condition is helpful for better assurance, more prominent cohesiveness, and a higher generation.

Employee Benefit

Any business depends entirely on its employees. Indeed, essential for the development and growth of their activities, employees are elements that should not be overlooked, especially for companies that operate in a sector where the workforce is scarce.

As a result, many companies are implementing systems or policies in the employees’ handbook that above all allow them to retain their employees and also optimize their working conditions. And for this, there are mainly the salary benefits, which may or may not be mandatory, and which are greatly appreciated by all employees. The question being asked is, why is the employee benefits policy so important to have?

By definition, employee benefits are other forms of compensation enjoyed by employees of a company (Klonoski, 2016). Salary benefits are therefore additional sources of income in addition to salary, and can, therefore, be presented as gifts, bonuses or also fringe benefits, and so on. 79% of employees would prefer to have new or extra benefits rather than pay increments. Great wages are significant, however, so are great benefits. Benefits aren’t only attractive to employees. They can improve the business. Including benefits can build loyalty, center and profitability, participation, and selecting

At the point when you offer employee benefits, your employees are bound to be faithful to your business. As per one overview, 60% of employees said having a benefits bundle is incredibly important or imperative to their manager’s loyalty (Workforces Report, 2016). Employees need the capacity to single out their benefits to coordinate their ways of life. A study shows that 72% of employees said that the capacity to alter benefits builds their loyalty (A New Age of Benefits, 2017). Offering a restricted arrangement of benefits doesn’t let employees pick what works for them. At the point when employees are increasingly steadfast, they are bound to keep working for you. Beginning a benefits program or adding to your present one can persuade employees to remain. 36% of employees state improving their benefits bundle is one thing their bosses can do to keep them in their occupations (2016).

The absence of benefits can affect the employees’ capacities to focus and be profitable at work (Laundaon, Cathcart, & Mcdonald, 2019. How? Indeed, employees may be stressed over things in their own lives, for example, childcare, sicknesses, and money-related issues. On the off chance that employees are stressed over these things, they aren’t centered around work. An organization can offer benefits that will assist employees with assuaging their pressure. At the point when employees can deal with issues past work, they can be increasingly present at work (Klonoski, 2016). Of overviewed employees, 51% admitted that benefits sway their capacity to center at work. What’s more, an extra 51% admitted that benefits command their profitability at work (2019).

By giving benefits policies, you improve your capacity to bring in new applicants and contract new employees (Laundaon, Cathcart, & Mcdonald, 2019. Organizations may think an enormous paycheck is a thing that draws in employees, but as covered in the lecture, employees are searching for more than just a paycheck. Be that as it may, benefits are similarly as significant as wages. A study found that 55% of employees are in any event fairly prone to acknowledge a vocation with marginally lower pay on the off chance that it has better benefits (Laundaon et al., 2019).

Dress Code.

Time has changed and today it seems to be a free-for-all insofar as dress code. Why do companies still need a dress code policy today and why is it so prominent? The importance of a dress code for professionalism is as multifaceted as options for proper clothing.

A business’ standard for dress codes makes a standard for visual connection. This enables employees to feel some portion of a company and fits a feeling of all progressing in the direction of one main goal (Levi, 2008). It’s likewise obvious that if one individual dresses like it’s a picnic while another dresses in formal attire there will be some unwieldiness (2008).

Positively, employees reserve a privilege to communicate through their attire yet by that equivalent token do as well companies, and workplaces maintain whatever authority is needed to express how they need their business to portray itself (Mitchell, Koen, and Moore, 2013). Regardless of whether purposeful or not, how one’s dress communicates something specific. It is dependent upon employees to guarantee that the message passed on by their appearance is that they’re a piece of the organization (2013). Having a dress code policy allows both the employees and the business to represent their goals and vision through their attire.

Employees are supposed to represent their workplace. The business objectives and ideas are reflected in who it decides to contract (Brown, 2014). The norms for proficient clothing change from business to business, so it is dependent upon each industry to pick its very own guidelines (Levi, 2008). Regardless of whether somebody works in an office with almost no forward-looking connection, the general standard is everybody should dress as though their customers could get through the entryway at any minute.

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Knowledge of the professionals and cons for each will permit Home Depot that allow you to better cope with issues that may stand up when they initiate a strategy. in keeping with Freeman’s narrative the overriding goal of a business enterprise is profitability. Below this assumption, Domestic Depot must forestall day workers from soliciting paintings through elevated protection and prosecution. while day workers are handy for contractors they may be now not the motive contractors save at Home Depot. however domestic Depot loses business from property owners who feel intimidated by day workers. Soliciting brings down store enchantment, creates felony liabilities, and is a source of friction with neighboring corporations. Financially the agency does not benefit from having day employees soliciting paintings. furthermore, domestic Depot will now not lose any commercial enterprise by way of placing a forestall to soliciting because their competitors also prohibit such activities leaving no different replacement. This unfastened market angle focuses on income but it fails to remember other non-quantitative elements. In following this method home Depot runs the risk of upsetting neighborhood owners and businesses who help the day worker’s efforts to find work as well as the Hispanic and immigration organizations who are striving for equality. information the repercussions of taking a stance towards the day workers we can broaden another route of action that is much less offensive to the agencies indexed above. On this course of movement, home Depot has to take a Deontology method. This method will cognizance the honor for life, equality, and maximizing social welfare. in preference to preventing day workers from soliciting work, the corporation could designate a place or shape for day workers to collect at particular times to discover paintings. This method might solidify job opportunities for thousands of employees who are unable to locate work elsewhere. home Depot would additionally be giving those men dignity and extra shape within the hiring method permitting them to not feel like beggars. In permitting the day people the possibility to search for paintings domestic Depot has to still ensure that these men are not interfering with clients and different neighborhood groups. The agency must also make sure to release all legal responsibility for any illegal behavior or incidents stemming from the solicitation of labor. In taking this method home Depot can show the general public that they are sympathetic to supporting the ones in need and that the employer’s task is more than just income maximization. however, similar to the non-soliciting method the organization faces grievance from activist groups, house owners, and nearby organizations who oppose the unlawful solicitation of work by way of day workers. in addition, this technique also has the risk of primary liability. With most people of day employees being illegal immigrants, the hiring of these men is illegal. In making specific allocations to help those guys, domestic Depot is indirectly selling an illegal interest. furthermore, because Home Depot is allowing those sports the general public will be short to maintain them responsible for any incidents that stem from this kind of solicitation whether or not they’re legally responsible or not. The third route of motion available for domestic Depot includes finding mutual ground between the ones for and people towards day hard work. With an increase in soliciting, arrests, and unlawful workers many consider the activities at domestic Depot are counterproductive to the community. on the other hand, home Depot has stakeholders in the community who agree that it’s miles important to aid and offer facilities for these employees who have little opportunity some place else. each events have legitimate factors leading me to my final course of motion which I believe is the one domestic Depot must adapt to moving ahead. Like in the first path of motion domestic Depot ought to forestall day people from soliciting paintings first through posting symptoms and giving warnings. If day workers keep defying this policy domestic Depot ought to further grow security and comply with prosecution. this can allow for domestic Depot customers that allow you to store without worry of being hassled. it will additionally relieve domestic Depot employees from feeling liable for dealing with in addition day laborer problems at their shops. Furthermore to prevent solicitation at their shops domestic Depot must proactively paintings with neighborhood governments and officials to create a gadget

To inspire contractors to use neighborhood hiring halls whilst one is to be had and when a hiring corridor isn’t always available and soliciting is a problem Home Depot proactively running with nearby officials through financing to begin a hiring corridor. additionally making charitable donations to corporations whose goal is to assist day workers. home Depot may also sponsor a program on the hiring halls they sponsor to provide free prison assistance to those seeking citizenship. via supporting the sale of the criminal hiring of day laborers home Depot will utilize the enterprise perspectives of utilitarianism, deontology, and ethic of care. home Depot’s angle of utilitarianism is supplied via

forestalling day workers via prosecution and through fining contractors for soliciting – increase in safety and authorities but imparting transportation to local hiring halls while one is to be had and while a hiring corridor isn’t always available and soliciting is a problem proactively running with local officers through financing to begin a hiring hall. additionally making charitable donations to companies whose purpose is to assist day workers. domestic Depot can also sponsor software on the hiring halls they sponsor to give unfastened legal help to the ones searching for citizenship.

A business’s only responsibility is to produce profits. To what extent do you agree or disagree with this statement?

The relationship between business and society is closely connected, one cannot live without another. Society needs to be provided with jobs and to be paid wages and salaries, a fair share of taxes so that government spending can be supported on the things that society needs. To achieve that, business must exist invest, and innovate. On the other hand, business needs consumers to create demand in the market. It needs society to provide essential public assets and infrastructure, such as transportation and legal systems to enable business to take place. There is no doubt that business and society are interdependent, however, it is still not yet to be determined whether a business should take account of its broader social obligations and responsibilities. This essay will discuss the importance of profit and its impact on the business, as well as the arguments of whether businesses should perform social responsibilities or whether it is not the job of a business to be concerned about social issues and problems.

Companies make a profit to survive and remain in the business, profitability and growth are both important and necessary, this will attract investors and analysts to put more money into the business and, more importantly, make stakeholders satisfied and stay in the company. ” The business of business is business.” Friedman M. (2007). The meaning of the quote is what business knows best, is to innovate, invest and maximize profit. The only responsibility to society is to operate within the law and the ethical customs of the country. Jack Welch, former chairman of General Electric, believes that every company should apply for good citizenship, but all companies should face the reality that before contributing the society with money, businesses need to make a profit. The company and stakeholders significantly affect each other. Stakeholders are the owners of the company, so the firm has a fiduciary duty to put their needs first to increase value for them. For instance, Costco makes sure that its Corporate Social Responsibility tackles the account of stakeholder’s concerns (Greenspan, 2017). However, before Costco can take action, making a profit by issuing a policy that anyone who wants to shop at the store must buy a membership for an annual cost of 60 dollars for its lowest level of membership to do so, and still the revenue of membership continues to grow and it takes a significant part to Costco’s bottom line. Moreover, Costco’s brand, Kirkland Signature, earns a higher profit than other retailers’ brands because there are fewer middlemen involved in the production (Greenspan, 2017). This is how Costco could sell at a low price to customers and still make a profit. By earning a profit, Costco can prioritize their employee as the most significant stakeholders, the company provides health care, high salaries of an average of 15 dollars per hour, various kinds of insurance, and even gym membership. The company not only takes care of its employees but also their families get all the health care services. Costco believes that keeping the employees happy can directly influence the performance of the company, as a result, Costco has the lowest employee turnover in retail (Costcobenefits.com, 2019).

Several companies believe that there is no conflict between making profits and acting sustainably will increase the profits in the long term by adopting a rigorous approach to CSR. For instance, Marks and Spencer believe that Corporate Social Responsibility fundamental part of the business, that this is more than just an ethical thing to do but an effective strategic objective that establishes fair workplaces and accomplishes step changes in environmental improvement. M&S has become one of the most sustainable retailers in the world. A few years ago, they launched a CSR initiative called ” Plan A”, the company is, for instance, sourcing sustainable packaging in Sweden. Cooperating with the local fishing suppliers and the conservation of marine habitat, setting up eco-factories in the UK, Turkey, and China, and establishing fair pay standards in countries like Sri Lanka, Cambodia, and Bangladesh (Beavis, 2012). Plan A has seen a fundamental change to M&S, improving the company’s image as a consistently highly-rated organization in the Ethical Trading Initiative, meanwhile, the project also delivered 70 million pounds in net benefits (Beavis, 2012).

Businesses cannot decide what is in society’s interest, but there is an ethical bottom line to society and the need to operate within the law. However, firms that see making profits as their only goal could collapse. According to Time magazine (Lewis, 2016), Oxy, a local subsidiary of British conglomerate Reckitt Benckiser, produced a toxic disinfectant for humidifiers that was sold in South Korea in 2001, harmed more than 6000 victims, including 1328 people who suffered lung damage and died after contacting the product (Lee, 2018). The victims required $9 million of compensation from the manufacturer of the product, which was mostly families with children, pregnant women, and the elderly using humidifiers in Korea’s dry weather (BBC, 2016). 25 percent of the victims are children under 4 who now become ventilator-dependent patients, who need to rely on machines to help them breathe and have to suffer the rest of their lives just because of this company. The product was on the market from 2001 to 2011 and it was later discovered that the product skipped necessary toxicity teats before the product was launched in 2001 (Lewis, 2016). Before the report from the Korean Centre for Disease Control, Oxy insisted that their products were safe to use and had nothing to do with the damage to the lungs.

The company’s priority indeed is to pursue the interests of shareholders, and social responsibility should be subject to the law and the ethical codes as determined by the culture of the society. What CSR does is to improve the company’s image, sales, and profitability, this is often seen as an ethical approach to a company’s bottom line, but an ethical code is that it needs to be followed no matter the cost. The main function of the business is to provide service and goods to consumers, however, behaving ethically is the main goal that all the firms should follow.

Reference

1. BBC (2016). Reckitt Benckiser says sorry for deaths. [online] BBC News. Available at: https://www.bbc.com/news/world-asia-36185549 [Accessed 22 Feb. 2020].
2. Beavis, L. (2012). M&S: doing the right thing leads to change – for the better. [online] The Guardian. Available at: https://www.theguardian.com/sustainable-business/best-practice-exchange/marks-and-spencer-change-better [Accessed 13 Feb. 2020].
3. Costcobenefits.com (2019). https://www.costco.com/employee-website.html [Accessed 13 Feb. 2020].
4. Friedman M. (2007) The Social Responsibility of Business Is to Increase Its Profits. In: Zimmerli W.C., Holzinger M., Richter K. (eds) Corporate Ethics and Corporate Governance. Springer, Berlin, Heidelberg [Accessed 13 Feb. 2020].
5. GREENSPAN, R. (2017). Costco Wholesale’s Stakeholders: A CSR Analysis – Panmore Institute. [online] Panmore Institute. Available at: http://panmore.com/costco-wholesale-stakeholders-csr-analysis [Accessed 15 Feb. 2020].
6. Lee, C. (2018). [Newsmaker] Korean victims of toxic disinfectant ask the public to boycott Strepsils. [online] Koreaherald.com. Available at: http://www.koreaherald.com/view.php?ud=20180619000788 [Accessed 22 Feb. 2020].
7. Lewis, S. (2016). South Korean Victims of Toxic Disinfectant File Lawsuit. [online] Time. Available at: https://time.com/4338272/oxy-dehumidifier-disinfectant-reckitt-benckiser-korea/ [Accessed 22 Feb. 2020].
8. Reference
9. BBC (2016). Reckitt Benckiser says sorry for deaths. [online] BBC News. Available at: https://www.bbc.com/news/world-asia-36185549 [Accessed 22 Feb. 2020].
10. Beavis, L. (2012). M&S: doing the right thing leads to change – for the better. [online] The Guardian. Available at: https://www.theguardian.com/sustainable-business/best-practice-exchange/marks-and-spencer-change-better [Accessed 13 Feb. 2020].
11. Costcobenefits.com (2019). https://www.costco.com/employee-website.html [Accessed 13 Feb. 2020].
12. Friedman M. (2007) The Social Responsibility of Business Is to Increase Its Profits. In: Zimmerli W.C., Holzinger M., Richter K. (eds) Corporate Ethics and Corporate Governance. Springer, Berlin, Heidelberg [Accessed 13 Feb. 2020].
13. GREENSPAN, R. (2017). Costco Wholesale’s Stakeholders: A CSR Analysis – Panmore Institute. [online] Panmore Institute. Available at: http://panmore.com/costco-wholesale-stakeholders-csr-analysis [Accessed 15 Feb. 2020].
14. Lee, C. (2018). [Newsmaker] Korean victims of toxic disinfectant ask the public to boycott Strepsils. [online] Koreaherald.com. Available at: http://www.koreaherald.com/view.php?ud=20180619000788 [Accessed 22 Feb. 2020].
15. Lewis, S. (2016). South Korean Victims of Toxic Disinfectant File Lawsuit. [online] Time. Available at: https://time.com/4338272/oxy-dehumidifier-disinfectant-reckitt-benckiser-korea/ [Accessed 22 Feb. 2020].

Lululemon was founded in Vancouver, Canada in 1998 by Chip Wilson. Lululemon is a Canadian athletic wear retailer, specifically yoga apparel. They sold their first pair of yoga pants that year and have immensely grown since then. In 2013, Lululemon appeared on Fortune’s Fastest Growing Companies list. They have also received an immense amount of media coverage, both good and bad. In 2014 Lululemon opened their first store in Europe. Lululemon is a part of The Sustainable Apparel Coalition. This is a part of their Corporate social responsibility, keeping track of the environmental impacts the company produces. Lululemon is positioned as stylish and high-quality items, however, there have been several controversies.

Calvin McDonald is the Chief Executive Officer of Lululemon. He is also a member of the Board of Directors for Lululemon. According to Business Insider, Calvin has a proven track record of helping large organizations improve by improving how brands engage with customers on all platforms. Calvin has previously served as president and CEO of Sephora for five years. Calvin has received his MBA from the University of Toronto.

Stuart Haselden is the Chief Operating Officer and EVP, International at Lululemon He has experience in executive leadership for 15 years at companies such as Saxs and J Crew. At these companies, Stuart held positions such as strategic planner, principal accounting officer, and vice president. Stuart serves on the advisory board of the School of Human Sciences at Auburn University.

Celeste Burgoyne is the Executive Vice President of Lululemon. She has been with Lullulemon since 2006. Before being promoted to Executive Vice President, she served as Senior Vice President where she was responsible for overseeing retail in the United States and Canada. She has had prior top management experience with other companies. Before joining Lululemon, she held a Vice President position. Celeste has a Bachelor’s degree from the University of San Diego

Sun Choe is the Chief Product Officer at Lululemon. Sun is in charge of the design and merchandising teams. Sun joined Lululemon in 2016 as Senior Vice President. As a Senior, Sun was involved in revamping the merchandising and designing. Before Lululemon, she served as Chief Global Product Merchant at Marc Jacobs. She has also worked for companies including West Elm, Madewell, and Urban Outfitters. Sun has a bachelor’s degree from the University of Maryland College Park.

Patrick Guido is the Chief Financial Officer. He joined Lululemon in 2018. Patrick has more than 15 years of experience. He has led several companies within their finance departments. Before joining Lululemon, he served as Treasurer and Vice President for VF Corporation. Patrick has his MBA from Vanderbilt University and holds a BS from Georgetown University.

1. Executive summary

Corporate social responsibility (CSR) involves the known responsibility for economic, social, and environmental implications that corporations may have through performing business-related activities. Companies must conduct their business in a way that ensures it is ethical and in consideration of human rights. Uber is a popular mobile application that allows individuals to quickly get rides around the city without relying on public transport. While Uber is known as a transnational success, it can pose many unethical issues for users and other companies. Uber has a severely scandalous past involving unethical technological applications and services to help obtain their goal of becoming “the number one ride-sharing app”. Uber has demonstrated their corporate responsibility in sustainability by providing the option of ‘Carpooling’ and implementing the ‘clean air plan‘.

2. Company overview

The popular ride-sharing app known as Uber was founded in 2009 by Travis Kalanick and Garett Camp. Established in San Francisco, Uber advertises itself as a convenient, inexpensive, and safe taxi service. Passengers can hire a driver to pick them up from their current location to their desired destination by tapping a button on their mobile device. The other side of Uber is focused on the drivers. Drivers are classified as independent contractors, rather than employees, which allows them to be their boss and have very flexible hours. At the end of the ride, passengers are to rate their experience, which consequently motivates drivers to provide a safe, smooth, and enjoyable trip. Uber currently operates in 678+ cities in 78+ countries and has a value of over $82 billion.

3. Unethical business practice

Uber has purposefully employed itself in using unethical technological applications and services to benefit their overall business. Previous self-made applications used by Uber include, ‘ Ripley ‘,‘ Greyball ‘ and ‘ Surfcam ‘. Ripley was a secret system used by Uber that disrupted government investigations. For two years, this system allowed a remote team to lock, shut off, and change passwords of accounts that Uber feared were under suspicion by foreign investigators. Uber claims this application to merely be a normal safety precaution, “ security procedures in place to protect corporate and customer data “. Another secretive app that evaded authorities was ‘Greyball’. First used in 2014 in Portland, Oregon, Philadelphia, Boston, Las Vegas, Australia, China, South Korea, and Italy, the app falsified the location of drivers, by showing icons of cars nearby however no one would show up. The app was able to gain access to credit card information, geolocation data, social media accounts, and other data points that allowed it to identify any government authorities who may be a part of the sting operations. Surfcam was a ‘ secret spyware program ‘ developed in Sydney Australia by a rogue employee. This information-gathering software allowed Uber, Australia to gain an advantage in a local competition known as ‘GoCatch’. The app gave Uber Australia insight into all the competitor cars online, as well as the eliminated data such as the car registration and name. Uber then used this information to create competitive employment offers which lured ‘GoCatch’ drivers from working for the start-up. The end goal for Surfcam was to ensure ‘Gocatch’ would lose customers from poaching, consequently having fewer drivers, and in turn ‘Gocatch’ would be eliminated from the ride-sharing industry. The implication of all these secretive and unethical applications directly impacts other industries. Other competing companies, such as ‘GoCatch’ and ‘Lyft’ have been permanently affected as their business has been put at a major disadvantage, which may be impossible to recover from. Those who have invested their money and time into these failing companies may experience mental issues or are in a financial crisis. While it is normal for companies to be better than other companies, the method that Uber used to become a better company is utterly unethical and unacceptable. Hiding information from authorities, hacking into other companies’ information for their gain, and misleading individuals are unjustifiable actions that have everlasting implications.

4. Corporate social responsibility

The transnational company known as Uber has demonstrated their corporate social responsibility, specifically in the environmental and sustainability aspects. Uber’s goal is to make every journey shared, through a new strategy called ‘UberPool’, along with implementing ‘ the clean air plan’. By using Uberpool and sharing rides, people are moving in fewer, fuller, and more efficient cars. This strategy matches passengers with others who are also traveling in the same direction. This saves fuel, benefits the environment, and increases transportation system efficiency. Ridesharing encourages the development of hybrid and electric vehicles, which will consequently reduce carbon emissions and improve worldwide air quality. It also allows the passengers to share the cost, benefiting the social aspect of the business. This strategy is very ethical and environmentally beneficial as it also saves resources worldwide. In 2017, there were 25 million riders in the express pool and Uberpool trips. The cities would have had an extra 82 metric tons of carbon dioxide and 314 million vehicle miles if these passengers had driven by themselves or in private Ubers. ‘ The clean air plan’ is an environmental strategy Uber has proposed to reduce air pollution, specifically in London. The end goal is to convert every car on the Uber app in London to be fully electric by 2025. Due to this desired goal, uber has placed a clean air fee of 15p per mile that will be put towards helping drivers upgrade to fully electric vehicles. Both these from the surface level are ethical and do consider the implications they may pose on the environment, but these strategies also boost Uber economically and socially. The business will boost, as they are now able to advertise themselves are environmentally friendly, which will force more individuals to use Uber, or Uberpool rather than private or public transport — therefore making these strategies effective in achieving corporate social responsibility because all factors are captured.

5. Conclusion

Uber has a suspicious and questionable past, as they were involved in many unethical practices such as hacking and poaching applications. However, it has been effective in achieving corporate social responsibility, especially through the factor of environmental sustainability. Overall Uber has had a severely unethical journey but is on the way to redemption through environmental efforts, which consequently benefit social and economic factors.