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The "Safety First" scenario is even less cut-and-dry for me. If a company wants to increase its profit margin and include a high-end line of clothing, then it has the right to do so. I do not believe that a company can prevent or control crime through its pricing strategies. Shoplifting is not necessarily related to the presence of luxury goods. I feel that crime is a reflection of overarching social, economic, and political problems. As long as the company is acting ethically in other respects, then I don't see the problem with offering the high-end jacket. Offering a low-cost alternative to the high-end jacket in my opinion is not the best solution in this case either, because it undervalues the more expensive article of clothing and could prevent people from buying it. Instead, a win-win situation might be to firmly decide that the Daze line would become high-end and that Shout could start marketing that line of clothing differently. My personal values did not change cased on this simulation but I am now more aware of how I feel about a company's right to create different pricing strategies...
These scenarios did somewhat alter my personal values because they brought to my attention the need to respect other cultures without compromising company codes of ethics. For example, if a company is committed to promoting local talent and women it should stick to those values even if it is operating within a male-dominated society. Respect for cultural values does not need to infringe on the rights and freedoms that should be guaranteed to all individuals, regardless of gender. However, employees operating in cultures other than their own should learn about those cultures' value systems and understand that they might have to alter their communications and business strategies.
Company Strategy: Whole Foods On the surface, Whole Foods has a unique, almost counterintuitive philosophy. Rather than stressing value and volume in terms of food sales, it instead offers more expensive organic and specialty goods. However, its niche marketing strategy has proven to be extremely lucrative. Whole Foods is an interesting case study as a company in the manner in which it has simultaneously capitalized upon popular trends in food without
The vision should be forward thinking -- it is a vision into the desire future of the company. The vision is something that the company is working towards. This vision should also be inspiring. If the vision does not inspire, then the stakeholders will not work towards it. A vision should not only provide something to which the company is working, it should also compel them to work towards it. The
Values and Strategy The strategic management process serves an integral role in creating competitive advantage in the marketplace. It stipulates the steps an organization takes to create value for its key stakeholders. With reference to WEX Inc., a payment processing firm, this paper discusses how the strategic management process creates value for the organization. The paper also evaluates the organization's mission and vision statements as well as motivation, innovation, and people
Strategic Management Company Overview Me Gusta Marketing is a boutique advertising agency that specializes in social media promotions. The company was founded in late 2010 and currently has three employees. The firm is in the advertising industry, and competes with a niche strategy. The firm specializes in social media promotions, an area where many traditional advertising agencies are relatively weak. The company was founded after its principle started an online promotions campaign
Executive Summary Coca-Cola's mission, vision and values are analyzed, against the literature outlining what the best practices for these things are. Coca-Cola's mission statement has three parts, only one of which says something meaningful; the other two state the obvious. The vision statement contains no vision, does not meet the criteria of a high quality vision statement, and needs to be replaced in its entirety. The values statements are superficial; taken
Strategic Analysis: The Coca-Cola Company This paper examines the Coca Cola Company, and whether its mission, vision, and values statements reflect the company's actual approach to business. While the paper concludes that, taken individually, the mission, vision, and values statements are insufficient to apprise stakeholders of Coca Cola's future goals; taken together they form a strong picture of where Coca Cola is and where it wants to be in the future.