Task 310.2.1-05
Business ethics can be defined as “written and unwritten codes of principles and values that govern decisions and actions within a company.” (Love to Know, n.d.) Behaving ethically is extremely important for businesses in order to cultivate an image of responsibility and grow a loyal customer base. Companies have a moral obligation to help the communities from which they profit to grow and prosper.
Company Q, a small local grocery store chain, has recently closed two stores. These stores were located in a high-crime area and the company reported that they consistently lost money. The area’s food bank requested that Company Q donate day-old merchandise, which management denied. The decision was made to throw away the unused food and the reasoning was that revenue might be lost due to stealing or fraud. Customers of Company Q began requesting more health-conscious and organic products years ago. The company decided to offer a limited amount of these high-margin items.
Company Q is not acting in a socially responsible way by closing the stores in the high-crime areas. They had created a local brand and employed members of the community. By closing these two stores, Company Q would only be furthering the the decay of the community by creating more empty store fronts. Once the stores close, its employees would be without work. This will also contribute to the decline of the community. The loss of the local stores would be a hardship to residents, because they would have to spend more time and money to travel further to get the essential items they need. This added hardship would most likely have an effect on the community since there would be fewer resources available to help improve the community
Company Q could help contribute to the revitalization of the local areas by increasing their presence in the community and expanding programs designed to engage and include community members. One way to help the company deal with the loss of money from these stores
Company Q, a small local grocery store chain, has recently closed two stores. These stores were located in a high-crime area and the company reported that they consistently lost money. The area’s food bank requested that Company Q donate day-old merchandise, which management denied. The decision was made to throw away the unused food and the reasoning was that revenue might be lost due to stealing or fraud. Customers of Company Q began requesting more health-conscious and organic products years ago. The company decided to offer a limited amount of these high-margin items.
Company Q is not acting in a socially responsible way by closing the stores in the high-crime areas. They had created a local brand and employed members of the community. By closing these two stores, Company Q would only be furthering the the decay of the community by creating more empty store fronts. Once the stores close, its employees would be without work. This will also contribute to the decline of the community. The loss of the local stores would be a hardship to residents, because they would have to spend more time and money to travel further to get the essential items they need. This added hardship would most likely have an effect on the community since there would be fewer resources available to help improve the community
Company Q could help contribute to the revitalization of the local areas by increasing their presence in the community and expanding programs designed to engage and include community members. One way to help the company deal with the loss of money from these stores
References: Love to Know Business (n.d) Retrieved from: http://business.lovetoknow.com/wiki/A_Definition_for_Business_Ethics, on December 8, 2011