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I need help creating a thesis and an outline on Reflection paper on Friedman and Almedar. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required.
I need help creating a thesis and an outline on Reflection paper on Friedman and Almedar. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. Module Reflection paper on Friedman and Almedar Many people have a reflection that a business is incepted in the market for theostensible reason of making profits. This is especially reflected on businesses that are only focused on making profits while other activities are ignored. In such a situation, the business only focuses on factors that will affect its profitability. All other factors are not considered as critical, especially when they do not have a direct effect on profitability. However, some businesses rely on appreciating their communities and thereby offer the best in social responsibility (Bonello, 10). Such businesses do not only focus on the profit levels but also on other factors that affect the people they serve and the community around the business. These businesses are inclined to the social responsibility while ensuring satisfaction of their market with the services and products that are offered. Therefore, such businesses observe their social responsibility as well as their profitability.
Since stakeholders are only moved by profitability of a business, the business should always make sure to implement strategies that balance between social responsibility and profit maximization. Though this seems as an indulging activity, the management should focus on making a positive mark to both the community and the shareholders. This is by making a continuous increase in profits of the business. For example, the business should increase its participation in the market through diversification and expansion strategies. Increasing the market concentration increases the performance of a business. For example, investing in other untapped markets ensures a business creates more demand for its products. As such, the business will record an increase in sales and thus possibility of increased profits. However, the business should have a focus on the social responsibility. For example, selling tobacco is an acceptable activity in the market. Therefore, selling the tobacco to other markets is an acceptable market behavior. This will be a successful activity since the tobacco selling will increase the overall sales in the business. As such, the business will be observing its stakeholders’ responsibility of making a positive approach to business decision making. The business will benefit with each introduction of its products to new markets. Therefore, the business will be regarded as a responsible entity that makes profits while benefiting the community.
Though introduction of a product to a new market justifies the activities of a new business, it should be accompanied with other activities that justify the introduction of the product to the market. This will minimize mixed reactions from other stakeholders in the market. For example, all businesses have a social responsibility towards the community. Therefore, they should conduct their activities with constant reflection on this obligation.
In this case, tobacco selling is a legal venture that is accepted under the constitution of many countries. Though it is acceptable to sell tobacco products to people, there are various consequences of using these products. This is a setback to the business’ responsibility towards the community as it will be selling harmful products to the users’ health. Tobacco has nicotine and tar, both of which affect people’s health and this may not critically reflect well towards a business’ adherence to its social responsibility (Bonello, 10). This can, however, be achieved by the business through warning people against all the negativity that comes with the product use. For example, they should mention that using tobacco increases the chances of lung cancer. This will be a warning sign to people that do not need to use tobacco and tobacco products. Similarly, as a social responsibility, it should be mentioned that tobacco is highly addictive. This will be a control measure to people that do not need to use the products. In conclusion, as much as tobacco companies need to sell their products, they have a social responsibility of stating the effects of using tobacco. This will reduce the world population that is suffering from addition and use of tobacco.
Work Cited
Bonello, Frank J. Taking Sides: Clashing Views on Economic Issues. York: McGraw-Hill/Dushkin. 2005. Print.
