Company Q Stakeholders

1376 Words 6 Pages
Identifying Stakeholders
I think it’s important to identify who is being affected by Company Q’s current attitude toward social responsibility or Company Q’s lack of social responsibility. These groups are composed of primary stakeholders and secondary stakeholders. Primary stakeholders for company Q would be its employees, customers, investors, shareholders, governments, and communities that provide necessary infrastructure which are crucial to company’s Q’s survival. (Ferrell, Fraedrich, & Ferrell, 2009). Secondary stakeholders are not engaged in the day to day operation of company Q however, they can have an ancillary or indirect effect on Company Q’s economic feature. These groups include the media, trade associations, and special-interest
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Justifying two store closures with one-dimensional explanations that the stores were “consistently losing money, (Ferrell, Fraedrich, & Ferrell, 2009). Company Q opens the door to assumption that the closure choice was likely centered upon the more apparent reasoning. Greater costs are linked with risk management of operations of the two stores in historical high crime districts. Company Q’s lack of a meaningful response or explanation to the community regarding these closures could lead to intense undesirable effect on the families who reside in the areas where the two stores have been closed. Company Q’s actions could create the blowback effect which could create resentment of secondary stakeholders such as media or trade associations both of which can exert considerable social and media pressure.
Company Q’s “When asked by the area’s food bank for donation of day-old products, management declined deciding instead to throw the food away, citing worries over lost revenues due to possible fraud and stealing by employees who may claim they are donating the food. ((Ferrell, Fraedrich, & Ferrell, 2009).)”
It is clear from the statements made by Company Q’s and their actions that company Q is not social responsibility to its primary or secondary stakeholder. Company Q lacked an ethics code, it chose not to donate food, accused its employees of stealing, closed two of its stores in high crime areas, and did not provide
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Create an ethical culture
2. Develop Corporate governance plan
3. Implement an organizational ethics program
Ethical culture is the atmosphere in which the decision making process is determining the employee’s answers to ethical issues are correct or mistaken. Ethical culture is used to describe the portions of corporate culture that captures the actions and philosophies that an organization identifies as appropriate behavior
Crafting an ethical culture requires leadership to define values and compliance. The participants of a company 's board of directors undertake legal accountability for the firm 's resources and choices, and they appoint its top executive officers to promote and carry out the ethical plan. Any ethical plan should be composed of basic elements:
1. Outline what ethics means to company Q; include codes of behavior, policies, methods that are clear, and robust management support.
2. Working with internal communications teams to confirm that these written principles are well advertised, broadly distributed and advertised in an optimistic and pleasing

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