Concept explainers
Case summary: W Company a new company in the eyewear industry managed to make a big impact in a short amount of time. It has one major competitor which owns almost all of the bestselling eyewear and eye care brands in the world. It is focused on its biggest stakeholders that are customers. The company entered in the market by selling their products at a price that is easily affordable to all. It is involved in corporate social responsibility activities like providing free glasses to the poor people who need it to earn their livelihood.
Characters in the case:
The characters that in the case are W a company, Person B founder of the company and V a charity.
Adequate information:
The W Company is doing well in the market by gaining attention of more and more customers with its selling strategy. It engages in CSR (corporate social responsibility) activities, which encouraged many companies to create an impact in the global market at a local level.
To determine:
The meaning of social audit and the factors considered when a social audit of W Company is done.
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Check out a sample textbook solutionChapter 4 Solutions
Understanding Business
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- Why would a company continue to pursue illegal and/or unethical actions even after the deception has been uncovered? What policies, practices, or structures could be incorporated in a code of conduct to ensure that such deception was revealed sooner?arrow_forwardWhat is consumer protection act ? And how did it improve business ethics ?arrow_forwardDoes the president of a firm have a right and obligation to use corporate profits for social programs? To whom do the profit belong?arrow_forward
- You are to focus on the use of Social Media on a business of Zara. The focus will be on how Social Media enhances the sales of Zara this business describe any of the social , economic , technological , competitive , and regulatory trends that may be appropriate to the performance of this business ZARA , both currently and in the future ,arrow_forwardHow can a company’s code of conduct help safeguard against illegal and unethical actions being taken by employees when facing such pressures?arrow_forward1.WHAT IS CORPORATE SOCIAL RESPONSIBILITY (CSR) AND ITS BENEFITS? 2. DEFINE IN A SIMPLEST WORD, WHAT IS BUSINESS ETHICS? 3. WHAT ARE THE ELEMENTS AND DISCLOSURES THAT CONSISTENTLY APPEAR IN A CSR REPORT? 4. WHAT ARE THE DIFFERENCE BETWEEN COMPLEX & CHALLENGING BEHAVIOURS?arrow_forward
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