Corporate Responsibility Essay example
BUS 508 – Contemporary Business
Monday July 20th 2013
Corporate Responsibility and Marketing Strategies
To be successful in todays’ business environment, organizations must be able to adapt efficiently to the changes in the economy, including consumer preferences, government regulations, and social demands. Not only are consumers vigilant about the quality of products, but a great influence in their purchasing decision has been the social and ethical behavior of companies they choose to patronize.
Many consumer focus on the corporate social behavior of these companies, and whether they give back to the communities from which they make a profit. …show more content…
Apple heads up its corporation in Cupertino, California and throughout the years was successfully headed by founder and CEO Steve Jobs who was credited with taking the music experience to another level with the introduction of iTunes in 2003. “On April 28, 2003, Apple threw open the virtual doors to its iTunes Store, and music -- all digital media, really -- hasn't been the same since.” (Griggs and Leopold 2003) Since its introduction into the music world in 2003, Apple has been successful with just about all of its product launches, especially with mobile devices. Its innovation surpassed any other, affording it the luxury of rising stock prices and renowned brand loyalty that would rival any Multinational Corporation.
On November 25, 2014, in addition to being the largest publicly traded corporation in the world by market capitalization, Apple became the first U.S. company to be valued at over $700 billion (Higgins, T. Ciolli, J. & Callie, Bost, C. 2014) and maintains 453 retail stores in sixteen countries (DeAgonia, M.2015).
Financially, Apple was ahead of the curve, but looking ahead, its lack of due diligence, and the violations of its social and ethical responsibilities, will be highlighted. Who and what was sacrificed to generate such lofty profits for this electronic giant?
Apple’s Ethical and Social Responsibilities