Is there juristification for any business to be excused and ethical responsibility

Classified in Economy

Written at on English with a size of 10.41 KB.

Utopia sets ethical objectives to:

to enhace the brands image/reputation

to build brand preferance and loyalty

to avoid legal problems

to reduce the risk of negative publicity

to motivate employees 

to increase profits

over-all customer satisfaction.

Utopia implements corporate social responsibility strategies to act as a good corporate citizen. There are many benefits of CSR for Utopia: 

  • The image of the business and its products can be improved with a socially responsible approach. This could become an advantage, attracting new customers and loyalty from existing customers

  • attracting the best motivated employees as many workers will prefer to work for and be associated with socially aware business

  • socially irresponsible behaviour by Utopia could lead to poorer relations with workers, suppliers, customers and the local community

3) USP importance

customers are often attracted towards goods or services that offer a distinctive/different image or performance.

establishing a USP is about differentiating Utopia from its competitors

Utopia has a beautiful location, a resort built by local craftsmen and with local materials, and having local food and coffee. 

Private limited company

can only sell shares to family, friends and known associates.

Directors of Utopia (john ariki) can maintain overall control over the business as they control the trading of shares in the company

6) Ansoff matrix

Market penetration: existing product in an existing market. 

Utopia implement strategies to achieve increased sales of its products in its major markets 

product development: new product existing market.

selling souvenirs at the resort. medium-risk strategy. 

market development: existing product new market.

develop new promotional strategies in new locations

diversification: new product new market

development of JAC coffee in New Zealand and Samoa in order to obtain a larger share

high risk strategy. Going into an uknown market with an aunfamiliar product offers a lack of experience in the new skills and tecniques required

Entradas relacionadas: