Evaluating A Corporate Societal Relationship

Evaluating A Corporate Societal Relationshippreparationaccording To Th

Evaluating a corporate-societal relationship preparation 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. In this assignment, you will be researching a Fortune 500 company from an approved company list provided by your professor.

Write a 4–5 page evaluation of your chosen company’s performance with respect to its stated values. Summarize the company’s primary products and or services. Suggest three ways in which the primary stakeholders can influence the organization’s financial performance. Provide support for your response. Describe two critical factors in the organization’s external environment that can affect its success. Support your assertions. Assess the company’s biggest success or missed opportunity to respond to a recent or current social issue. How did it impact company performance? Integrate at least two supporting resources from the Strayer University Library or other reputable sources. This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions. The specific course learning outcome associated with this assignment is: • Evaluate the relationship between a business and society based on external environmental factors, stakeholders, and corporate social responsibility issues.

Paper For Above instruction

Introduction

In the contemporary global economy, the relationship between corporations and society has become increasingly intricate due to globalization, technological advancement, and heightened stakeholder expectations. Understanding how Fortune 500 companies navigate their societal responsibilities alongside economic objectives is crucial for evaluating their long-term sustainability and social license to operate. This paper focuses on Apple Inc., a leading multinational technology corporation, to assess its performance concerning its core values, stakeholder influence, external environmental factors, and social responsibility responses.

Company Overview: Products and Services

Apple Inc. specializes in designing, manufacturing, and marketing consumer electronics, software, and services. Its primary products include the iPhone, iPad, Mac computers, Apple Watch, and Apple TV. The company's services encompass the App Store, iCloud, Apple Music, and Apple Pay. Apple's innovation-driven approach emphasizes high-quality design, user experience, and ecosystem integration, which have solidified its position as a market leader (Apple Inc., 2022). The company's commitment to sustainability and social responsibility is reflected in its environmental initiatives and ethical sourcing policies.

Stakeholder Influence on Financial Performance

Stakeholders play a vital role in shaping Apple’s financial outcomes through various channels:

  1. Customers: Customer preferences influence product development and innovation priorities. Satisfied customers enhance brand loyalty, leading to increased sales and market share.
  2. Suppliers: Suppliers impact production quality, costs, and delivery timelines. Strategic partnerships and ethical sourcing practices can mitigate risks and enhance profitability (Friedman & Heaslip, 2020).
  3. Investors: Shareholders' confidence influences investment flows, stock prices, and the company's capacity to fund new initiatives and research, directly affecting financial performance.

Supporting these points, research indicates that proactive stakeholder engagement correlates with improved financial outcomes and corporate resilience (Freeman, 2010).

External Environmental Factors Affecting Success

Two critical external factors include:

  1. Regulatory landscape: Governments worldwide impose regulations on data privacy, environmental standards, and labor practices. Compliance costs and legal risks can impact operational efficiency and reputation (World Economic Forum, 2022).
  2. Technological evolution: Rapid advancements in technology necessitate continual innovation. Failing to adapt can render products obsolete, affecting market competitiveness (Brynjolfsson & McAfee, 2014).

Analyzing these factors reveals that Apple’s strategic responses—such as investing in renewable energy and privacy protections—are vital for sustained success amidst external pressures.

Social Issue Response and Company Performance

Apple faced significant scrutiny regarding labor conditions in its supply chain, particularly concerning labor rights and environmental impact. A notable instance was the 2021 investigation into working conditions at supplier factories in China. Apple responded by implementing stricter auditing, increasing transparency, and investing in supplier training programs (The Guardian, 2021). This proactive approach improved its supply chain social performance and mitigated risks of reputational damage.

However, opportunities for improvement include addressing e-waste management and expanding product recycling programs. Strengthening these initiatives could enhance brand loyalty and reduce environmental costs, positively influencing financial outcomes (Hawkins, 2020). Overall, Apple’s adaptive strategies demonstrate a balance between social responsibility and profitability, aligning with its core values.

Conclusion

Apple Inc.'s case exemplifies how a multinational corporation can integrate societal considerations within its strategic framework. Stakeholder influence, external environmental factors, and social responsiveness significantly impact organizational success. By continuously adapting to external pressures and prioritizing ethical practices, Apple sustains its competitive advantage while fulfilling its commitment to societal betterment. Future research should explore emerging trends in corporate social responsibility to further understand the evolving relationship between business and society.

References

  • Apple Inc. (2022). Annual Report 2022. Retrieved from https://www.apple.com
  • Brynjolfsson, E., & McAfee, A. (2014). The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies. W. W. Norton & Company.
  • Friedman, S., & Heaslip, K. (2020). Ethical Sourcing and Supply Chain Management. Journal of Business Ethics, 162(4), 693–705.
  • Freeman, R. E. (2010). Strategic Management: A Stakeholder Approach. Cambridge University Press.
  • Hawkins, A. J. (2020). Electronic Waste and Sustainability Initiatives. Environmental Science & Technology, 54(15), 9224–9230.
  • The Guardian. (2021). Apple Faces Scrutiny Over Factory Working Conditions. Retrieved from https://www.theguardian.com
  • World Economic Forum. (2022). The Future of Regulation in a Digital Age. Retrieved from https://www.weforum.org

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