Evaluating A Corporate-Societal Relationship

Evaluating A Corporate-Societal Relationship

Summarize the company’s primary products and or services.

 The main product of Loreal Paris is cosmetics and beauty products. The company offers more than 200 products in cosmetics, hair care, and perfumes for men, women, and children. The company’s primary focus is developing innovative products that provide exceptional quality and value to consumers. It also seeks to improve the quality of life for people worldwide through education, social responsibility programs, and community involvement (Newswire 53). The company’s primary products include hair colorings (including permanent colors and semi-permanent colors), shampoos and conditioners, skin care products (including anti-aging creams, cleansers, and facial masks), makeup products (including blushes, eye shadows, and foundations), fragrances (including perfumes and colognes), nail care products (including nail polish) and sun care products (including sunscreens). The products are sold through retail stores, online stores, and over the counter.

Suggest three ways the primary stakeholders can influence the organization’s financial performance. Provide support for your response.

The primary stakeholders can influence the organization’s financial performance through their attitudes and perceptions, behaviors and motivations, and level of involvement.

It is possible that the stakeholders can influence the organization’s financial performance through their attitudes and perceptions. The stakeholders have different attitudes toward the product being sold by the company. For example, some stakeholders may have an unfavorable attitude towards a certain product because it does not fit their lifestyle or preferences (for instance, not interested in using such products). This can potentially lead to lower demand for this product.

The stakeholders also have different perceptions about how much profit their company makes from selling a certain product. For instance, if a particular stakeholder believes that his business has made more money than he expected from selling a certain product, he would be more likely to buy more of that same product when it becomes available again at a discount price during future sales promotions by his company (Sarah 98). This could increase sales volume for that particular product but decrease profits for his business since he would have used up all his available cash reserves before making any additional purchases or investing in new products or technologies.

The behavior and motivation of the stakeholders can also influence the organization’s financial performance. The primary stakeholders are those interested in knowing whether or not their organization is earning income. They use their money to purchase goods and services from an organization, but they do not always have enough information to decide whether or not it’s worth doing business with them. The primary stakeholders need to know what kind of product or service they purchase and how much it costs to make an informed decision.

Describe two critical factors in the organization’s external environment that can affect its success. Support your assertions.

The corporation’s external environment can affect its success in two ways. First, the country’s overall economy can affect its success by leading to an increase or decrease in sales. If the economy is booming, businesses will have more customers and therefore be able to sell more products. On the other hand, if the economy is suffering, companies will have fewer customers and therefore be able to sell fewer products. It can be depicted that the Loreal Paris Company’s success can be attributed to its ability to manage the corporate-societal relationship effectively (Sarah 95). They have created strong customer loyalty by providing high-quality service at affordable prices and allowing customers to express themselves through their products; this helps create an atmosphere of trust between the company and its customers.

Second, changes in government policies can affect a company’s success by impacting its ability to make money. For example, if tax rates are increased or decreased, this affects how much money a company has to spend on advertising and promotion campaigns. In addition, changes in government policy can impact a company’s ability to employ its employees through government programs such as unemployment insurance or public housing programs that provide support for low-income families.

Assess the company’s biggest success or missed opportunity to respond to a recent or current social issue. How did it impact company performance?

The company’s biggest success is positively responding to a new social issue. The company has promoted the campaign “Makeup for Good,” an initiative that helps raise money for charity. As a result, over 38.3 billion dollars worth was attributed to the value of the L’Oréal Paris brand (Sarah 102). The company also launched a celebrity-driven campaign called #FeelGood, encouraging women to post selfies with their favorite cosmetics on social media. The company has been able to use social media platforms such as Facebook and Instagram to promote this campaign and educate customers about the importance of using makeup as part of their daily routine.

The biggest missed opportunity was not connecting the product and the issue. Newswire states that while it is important for companies like L’Oreal Paris to make sure that they are responsive to social problems, it is also important for them to make sure that their products are not just cheap alternatives to other competitors’ products but rather something that will benefit people in a meaningful way (34). They also did not significantly change their product line during this year’s holiday season. This could have impacted sales during this period because many people were buying gifts for family members or friends at this time of year.

Evaluate the relationship between a business and society based on external environmental factors, stakeholders, and corporate social responsibility issues.

The relationship between business and society is a long-term process that affects both sides. The external environmental factors that influence the relationship of Loreal Paris company with stakeholders are the culture, economy, education, and government. On the other hand, corporate social responsibility is internal public relations that aim to improve the quality of life for all people through business activities.

The external environmental factors impact this relationship since they can be positive or negative. The culture positively impacts the relationships between business and society in France because it promotes diversity and equality among people (Sarah 93). The economy influences this relationship, too, because it influences how much money businesses can spend on their products or services. Education is another factor that affects this relationship because education helps people understand each other better. Finally, the government influences this relationship because it can help businesses or organizations obtain permits or licenses to operate successfully in France or elsewhere (Corporate Social Responsibility).

On the other hand, corporations use corporate social responsibility to improve their image by donating money to charities or volunteering their time at events like trade shows where they meet with customers and suppliers.

References

Newswire, PR. “Ten Fearless Changemakers Named This Year’s L’Oréal Paris Women of Worth, as Brand Celebrates 50 Years of “Because You’re Worth It. “1 Nov. 2021.

Sarah, Marschlich, and Ingenhoff Diana. “The role of public relations in corporate diplomacy: how relationship cultivation increases organizational legitimacy.” Journal of Public Relations Research, vol. 33, no. 2, 2021, pp. 86-105, doi:10.1080/1062726X.2021.1981332.

ORDER A PLAGIARISM-FREE PAPER HERE

We’ll write everything from scratch

Week 4 Assignment – Evaluating a Corporate-Societal Relationship

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.

Instructions

Write a 4–5 page evaluation of your chosen company’s performance concerning its stated values. Do the following:

• Summarize the company’s primary products and or services.
• Suggest three ways 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 system. 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.

Assignment 1 Resources and Additional Requirements

• They approved Company List. Students must use the previously selected company. Do not select another company or use a non-approved company.
• Assignment 1 Template
• Assignment 1 in-a-box Toolkit Links & Resources
• Assignment 1 Frequently Asked Questions (PDF)