Evaluating a Corporate-Societal Relationship
Summarize the company’s primary products and or services.
Amazon, Amazon.com, is one of the world’s most comprehensive online retailers focusing on cloud computing, digital streaming, artificial intelligence, and e-commerce. This multinational technology company originally started as a bookseller but has expanded to many areas of consumer goods, web services, digital media, and even creating its own electronic devices over the years. Known for consumer goods, Amazon has a tremendous amount and variety of products in categories such as apparel, baby and beauty products, groceries, health and personal care, jewellery, sporting goods, tools, toys and games, books, CDs, DVDs, and so much more. Amazon also offers a widespread collection of cloud-based web services that include storage, databases, networking, mobile, management, developer tools, security, and enterprise applications
Suggest three ways the primary stakeholders can influence the organization’s financial performance. Provide support for your response.
A stakeholder in a company can be defined as investors, employees, customers, suppliers, communities, and even governments that are invested and can affect that particular business’s operations and performances. In general, for a firm that performs above average within its trade or performs well, ample stakeholder relations can and will assist that business in sustaining for a more extended period. This situation can include more buying from customers and higher employee morale, resulting in a stronger work ethic. Even when a business performs poorly, stakeholder relations can help that company recover.
Amazon finds an oblation to satisfy its stakeholders’ many varying social interests, and there are a few in particular that this company considers essential stakeholders. In order of significance, customers, employees, and communities make up what Amazon considers top priority stakeholder groups.
Amazon’s highest priority, when considering many aspects of business-like social responsibility, is the interest of its customers because the company believes them to be the most important. One reason for this is because customers control and affect what revenues are being made, which affects the organization’s financial performance enormously.
Employees are also a significant aspect and highly valued when considering Amazon’s performance and social responsibility programs. Employees are interested in compensation and possible career development that may be available to them. Because of this, human resources at Amazon ensures that new ideas to support and positively develop the company’s culture are possible. This concept is essential because the employees drive and push day to day operations of the company. Without employees, work and progress would not be complete to satisfy customer orders, affecting the company’s financial performance.
Amazon supports its stakeholders, which are communities, through diverse development support that includes healthcare programs, education funding, and environmental conservation. One program, Amazon Smile, donates a portion of revenues from sales to its customers’ chosen charitable organizations. The stakeholders that are communities help to influence the perception that Amazon has of its customers, which explains why philanthropic acts are a top priority to do so. This approach proves to customers that Amazon cares and is responsible when giving back to the community that supports them. When done correctly, customers feel more at ease to shop with Amazon, which positively affects the business’s finances.
Describe two critical factors in the organization’s external environment that can affect its success. Support your
How the economy is performing is one of the most determining factors of the success of any company, especially Amazon. Many factors contribute to this, such as the fluctuation of interest rates and economic crises. These circumstances that can occur to the economy affect the profits of a business because buyers and or customers are involved, which are the primary source of success for a business.
Understanding customer demand is a fundamental factor of Amazon’s external environment and can affect its success. Like any business, Amazon must provide products and services that its target market is interested in buying and serve a purpose or need.
Tailoring to the customer’s interest and demands as new trends take place is a task that Amazon has done seamlessly as this company has established and continues to dominate as an industry leader.
Assess the company’s most significant success or missed opportunity to respond to a recent or current social issue. How did it impact company performance?
The most significant social issue of our lifetime, Covid-19, has taken a toll on everyone, essentially businesses included. Amazon has taken its three primary stakeholders, customer, employees, and communities, into significant consideration during these trying times.
First, the customers, the most important stakeholder, are provided with a free mask to protect themselves at physical Amazon and Whole Foods Market locations. Another immense change is the attempt to combat price gouging, which helps ensure fair product pricing. Employees were given over $2.5 billion in bonuses and two weeks of paid time off for those diagnosed with Covid-19. Changes that have transformed the community are that Amazon has originated $20 million to expedite Covid-19 research and hired 175 additional employees.
All of these changes, which are more than what is listed, have aided in the success of Amazon as this company has gone above and beyond when responding to the Covid-19 outbreak. Customers are inclined more than ever to buy from Amazon because of their plentiful benefits and the support this business has provided during such a difficult time.
References
Contributors, (2014, April 08). What is Amazon? – Definition from WhatIs.com. Retrieved January 25, 2021, from https://whatis.techtarget.com/definition/Amazon
Ferguson, E. (2017, February 20). Amazon.com Inc. Stakeholders, Corporate Social Responsibility (An Analysis). Retrieved January 25, 2021, from http://panmore.com/amazon-com-inc-stakeholders-corporate-social-responsibility- analysis
Staff, A. (2020, December 17). Amazon’s COVID-19 blog: Updates on how we’re responding to the crisis. Retrieved January 25, 2021, from https://aboutamazon.com/news/company-news/amazons-covid-19-blog-updates-on- how-were-responding-to-the-crisis
ORDER A PLAGIARISM-FREE PAPER HERE
We’ll write everything from scratch
Question 
Week 4 Assignment – 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.
Evaluating a Corporate-Societal Relationship
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 most significant 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.
