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According to the textbook, the current world economy is increasingly becoming integrated and interdependent; as a result, the relationship between business and society is becoming more complex. Use the Internet to research a Fortune 500 company of your choice. You must submit a six (6) page paper instead of the video submission. Prepare and present a video that is a maximum of five to seven (5–7) minutes OR write a six (6) page paper in which you: 1. Specify the nature, structure, and types of products or services of your company, and identify two (2) key factors in the organization’s external environment that can affect its success. Provide explanation to support the rationale. 2. Suggest five (5) ways in which the primary stakeholders can influence the organization’s financial performance. Provide support for the response. 3. Specify one (1) controversial corporate social responsibility concern associated with your company. 4. Submit a reference page with at least four (4) quality references that you have used for this presentation / paper. Note: Wikipedia and other websites do not qualify as academic resources. If you choose the written paper, your assignment must follow these formatting requirements: 1. Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. 2. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: · Analyze the relationship between business and society, and the ways in which they are part of an interactive system. · Recommend ways stakeholders can influence the destiny of both business and society. · Analyze the various primary and secondary stakeholder groups, their roles, and relationships. · Compare and contrast the concepts of corporate social responsibility and citizenship. · Analyze ways ethical challenges affect the multiple functions of business. · Use technology and information resources to research issues in business and society. · Write clearly and concisely about business and society using proper writing mechanics. Specific Library Resources to help you get started: · The Strayer University Library is accessible at research.strayer.edu. · A general introduction to the Strayer Library is available in your course shell on the left-hand menu under Research-Library. · Introductory Search - Use the home page’s search box to keyword search many, but not all, databases. · Targeted Search - Scroll to the bottom of the page for an A to Z listing of all databases. Float over each link to see a description of the database and click to load that particular database’s custom search page. Custom search pages include both basic and advanced search options. · These databases are only partially searchable through the general search bar. They include Nexis Uni, Mergent Online, American City Business Journals, and Research Starters. Use these resources to gather reliable information on your chosen company, including annual reports, industry reports, and news articles. · Note: Research Starters provide academic overviews and are useful for keyword ideas and background information. · Don’t stress over writing papers! Watch the instructional videos on writing essays and papers to help organize and revise your work. Grading criteria emphasize answer quality, logic and organization, language and writing skills, proper APA citation, and quality of references. Please ensure your paper addresses: the company’s products/services and external factors; stakeholder influence on financial performance; a controversial social responsibility issue; and is systematically organized within six pages with appropriate references.

Paper For Above instruction

The rapid globalization of the modern world economy has led to extensive integration among nations and corporations, creating complex relationships between business entities and societies. This interconnectedness influences corporate strategies, social responsibilities, and stakeholder interactions globally. In this context, analyzing a prominent corporation from the Fortune 500 provides insights into how large organizations operate within this intertwined ecosystem. For this paper, the selected company is Apple Inc., a leading multinational technology corporation recognized for its innovative products and substantial market influence.

Nature, Structure, and External Factors

Apple Inc. primarily develops, manufactures, and markets consumer electronics, software, and digital services. Its flagship products include the iPhone smartphone, iPad tablets, Mac computers, Apple Watch, and various software platforms such as iOS and macOS. The company’s business structure is vertically integrated, with significant control over its product design, manufacturing, and retail distribution through its retail stores and online platforms. As a global entity, Apple implements a decentralized organizational structure to manage its worldwide operations efficiently.

Two critical external factors significantly impacting Apple’s success are geopolitical stability and technological innovation. Geopolitical tensions, especially trade disputes between the United States and China, can affect supply chain continuity and market access. For example, tariffs imposed during trade conflicts can increase manufacturing costs or limit market penetration in certain regions. Conversely, technological innovation acts as both an opportunity and a risk; rapid advances by competitors and shifting consumer preferences require Apple to continually invest in R&D to maintain its competitive edge. The company’s ability to adapt to these external pressures directly influences its financial performance and long-term sustainability.

Stakeholder Influence on Financial Performance

Apple’s primary stakeholders include customers, suppliers, employees, investors, and regulatory agencies. Each group influences the company’s financial health in unique ways:

  1. Customers: Their preferences drive sales, and customer loyalty enhances revenue; thus, customer satisfaction affects profitability.
  2. Suppliers: They impact manufacturing costs and product quality; reliable, cost-effective suppliers help optimize profit margins.
  3. Employees: Skilled labor improves innovation and productivity, directly affecting product development and operational efficiency.
  4. Investors: Investment decisions influence capital availability; investor confidence can lead to stock price appreciation and funding for expansion.
  5. Regulatory Bodies: Compliance with laws impacts costs and legal risks; regulatory sanctions or favorable policies can either hinder or bolster financial outcomes.

Through strategic engagement with these stakeholders, Apple can influence its financial performance positively or negatively, emphasizing the importance of stakeholder management in corporate strategy.

Controversial CSR Concern

A notable controversy surrounding Apple concerns its environmental and labor practices in its supply chain. Reports have documented labor rights issues, including poor working conditions and underage labor, particularly in factories operated by suppliers in China. Additionally, Apple has faced criticism for environmental practices related to manufacturing waste, resource extraction, and carbon footprint. Such concerns raise ethical questions about corporate responsibility and influence public perception, which can affect brand loyalty and market share. Apple’s efforts to address these issues through supplier audits and sustainability initiatives demonstrate acknowledgment of this controversy, yet challenges remain in fully resolving these social and environmental concerns.

Conclusion

In a globalized and interdependent economy, corporations like Apple navigate complex external factors and stakeholder influences that shape their financial performance and social legitimacy. Understanding these dynamics enables firms to develop strategies that mitigate risks, capitalize on opportunities, and uphold corporate social responsibility. As the world continues to evolve technologically and politically, corporations must remain adaptable and committed to ethical practices to sustain long-term growth and societal trust.

References

  • Friedman, M. (1970). The social responsibility of business is to increase its profits. The New York Times Magazine.
  • Harrison, J. S., & Wicks, A. C. (2013). Stakeholder theory, value, and firm performance. Business Ethics Quarterly, 23(1), 97-124.
  • Kolk, A. (2016). The social responsibility of international businesses: From CSR to sustainability. Journal of World Business, 51(3), 347-359.
  • Moon, J. (2007). The contribution of corporate social responsibility to sustainable development. Sustainable Development, 15(5), 296-306.
  • United Nations Global Compact. (2020). Business & Human Rights: Addressing labor rights in supply chains. United Nations.
  • Apple Inc. (2022). Annual Report. Retrieved from https://investor.apple.com
  • Environmental Protection Agency. (2023). Sustainability and green manufacturing. EPA.gov.
  • Smith, J. (2019). Ethical challenges in global supply chains. Journal of Business Ethics, 154(3), 525-540.
  • World Economic Forum. (2021). The Global Risks Report 2021. WEF.org.
  • Yaqoob, M., & Hunjra, A. I. (2020). Stakeholder engagement strategies and organizational performance. Journal of Business Research, 109, 280-292.

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