Hot! Hot! Hot! Spicy alert!
Irwindales’ Huy Fong Foods Factory, the producer of the popular hot sauce Sriracha, recently came under fire. Displeased citizens of Irwindale started complaining about burning eyes and the smell. However their restraining order issued by the city against the company was denied by the court. Huy Fong Foods continues to produce the hot sauce in massive supply.
Sriracha Sauce Array
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It is evident that society and the company are still at odds even after last year Huy Fong Foods installed carbon filters with a second layer to resolve smell issues, highlighting an important point.
Companies are becoming increasingly frustrated when dealing with negative externalities they impose on society as trust between the two is declining. Many businesses cannot seem to find their way out the narrow mindset of creating value. They ignore the big things such as customer needs and environmental sustainability, essentially separating business from society. This needs to change.
What connects companies to society is shared value, a concept that many companies are starting to turn to which I support thoroughly. In utilizing shared value, which can maximize productivity, the world can be pushed towards new innovations and growth, profiting both the people and businesses. It’s a win-win situation.
Original Sources:
http://articles.latimes.com/2013/oct/31/local/la-me-1101-sriracha-suit-20131101