Company Q - Social Responsibility Essay
By David Clemmons
Being that Company Q is a smaller, local grocery store operating in a major metropolitan area, the demand to be innovative in ways that will allow them to grow is more significant than the current operating model. Current perceptions don’t allow companies competing in local markets to simply be in business for the sake of making a profit. Now, more than ever, smaller businesses hoping to succeed must constantly shift their business models to compete with that of larger companies. The smaller companies need to understand that being a part of the local society is an intrinsic part of doing business. Participation and community activism that supports the community is a …show more content…
While there will always be losses in any retail environment, were the losses incurred such that it warranted the closure of two stores? Were measures put into place that worked to prevent losses or were they simply written off to the cost of doing business.? There are measures that can be taken to lessen the hit to the bottom line. 1) Take stock of the items with the highest margin of loss and move them behind customer service. Making them harder to get too. 2) Place cameras and/or mirrors in areas with products people go after.
2) Create a membership or loyal program. People have a natural sense to belong to something.
They also tend to support businesses that support them. These types of programs also tend to decrease customer loyalty. Customer retention means larger profits. Be more open to customer comments. By adding something as simple as a suggestion box, chances are you’ll see opinions that will help you, as the storeowner, garner new product offerings and thereby increase profits and customer retention. Customer loyalty isn’t hard to come by when they have a sense their opinions matter.
3) One other area of mention is the decision by Management, not to contribute to day old food to the local food banks. Citing loss in revenues or fraud by employees. As previous mentioned, there are measures that can be put