The Social Responsibility of Company Q
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The Social Responsibility of Company Q
Company Q is a small chain of grocery outlets located in a metropolitan area. At one point, management made the decision to close two of its stores located in less affluent and high crime neighborhoods, claiming a lack of profits for the decision. On another occasion, a local charity made a request to company management for a donation of “day old” products to stock its food bank. Management declined on the grounds of possible fraud and theft by its employees. While Company Q has answered requests from customers and begun to provide a limited selection of organic foods, its general attitude toward the public seems to be one of unconcern.
There are several areas where changes can be implemented to improve the social responsibility of the company, increase profits, and improve the community attitude toward Company Q which will be outlined in the following paragraphs.
First, reopening the previously closed outlets in the high crime areas will provide employment opportunities for, not only people of the neighborhoods, but also for other professionals and agencies such as; security companies and loss prevention specialists. While this expense may seem high in the beginning, the added sense of security will give consumers a feeling of security and the idea that the company has their safety in mind. This will both increase the reputation of the company and encourage more people to shop at these locations instead of traveling farther than needed to experience pleasant and safe shopping. This is only one of the areas where improvements can be made to the company image.
Donations to local charities and possible sponsored events are a great way to not only advertise, but to provide the company an opportunity to show the people that it cares not only about its customers but the community as a whole. Charitable donations also serve a dual purpose. As in the case of the food bank, had management decided to make the donation of goods, Company Q would have been able to claim a tax deduction for the value of the goods at the end of the year in place of just reporting a loss of inventory due to spoilage, as well as being able to help families in need. This could be a source of potential income in the future as these needy families recover from their financial hardships and remember the store that helped them get through.
Supporting other local businesses through the purchase of Company Qs organic goods, when possible, will provide for growth of the regional economy and build lasting inter-business relationships between Company Q and these farmers that will be mutually beneficial to everyone as well as increase the potential customer base for Company Q.
Both higher profits and an increased local opinion of a business go hand in hand. If Company Q management implements these changes, not only will the local opinion of the store as