Social enterprise is not just about giving money to struggling or up-and-coming companies. Social enterprise is an opportunity for individuals and organizations across the globe to reach out to those trying to make in impact in the business world. The UN may be a large and influential organization, but funding them fully would not necessarily nullify the significance of social enterprise. There are thousands of kinds of companies that strive to solve a variety of problems in society. What social enterprise offers is the opportunity for passionate people from all over the planet to contribute their experience, wisdom, and resources to organizations that they feel provide value. This passion is what truly leads to success in these companies. Solving problems and developing effective strategies for businesses is not a one-time payment; rather it is an involved and complicated affair that requires commitment by both parties. Initiatives like the Arc Initiative provided by Sauder illustrate that solutions are really found in knowledge and education, and collaboration with professionals and those experienced in particular fields can prove invaluable for small businesses. By spreading business knowledge to companies like Salem’s Ethiopia and Shego Shera Eatery, the Arc Initiative and many other social enterprises have shown their ability to change lives and the overall quality of life throughout the world.
Can Corporations Save the Planet?
As Brodie described in his blog post regarding the coalition of companies striving to combat climate change, corporate social responsibility and consideration of overall ethical values in business can help shape the overall global presence of a company. As shown by the companies involved in the agreement to ultimately put an end to deforestation across the globe, businesses have more responsibility and can have more impact in the world beyond just making profit. These companies, while creating a strong brand image and appealing to more customers through their stance on social and environmental crises, are making a statement and creating movements for social and cultural progress.
Global climate change is not only an issue that affects a certain region or a certain group of people; rather it is an issue that affects the global population. Therefore, it is essential for those with the power to communicate and market ideas throughout the world to work towards change. Companies are platforms that allow for efficient communication to a larger audience, without the divisions of politics that governmental entities face. Therefore, while making profits, companies can also use their power and influence to create shared value in their communities and the world as a whole.
Whole Foods and the Rise of the Health Foodie
As the article in the Washington Post mentioned, Whole Foods has recently been forced to improve its business model canvas in order to appeal to more of the ever-growing customer segment that seeks a healthy, natural product. The problem for Whole Foods is not the growth of the health foods industry, but rather the increasing rivalry within the industry as larger grocers begin offering more natural and high-quality alternatives. Whole Foods experienced more growth in past years because there was a lower concentration of competitors, and since the concentration has increased recently, they have experienced slower growth. However, I believe that this poses as a challenge and an opportunity for Whole Foods. In the past they have merely served as a supplementary grocer for those who seek high quality in certain products. Therefore, as larger grocers with a greater variety of low-cost products begin offering similar products to Whole Foods, customers will see no advantage in shopping for those products at Whole Foods. This has, in turn, brought Whole Foods to consider expanding its accessibility and moving farther away from its previous specialty-store status. With its efforts to lower prices, Whole Foods is essentially modifying its value proposition to attract more customers and become more appealing to those who wish to purchase all their groceries in one location and who also value a high-quality, natural product.
McDonald’s Rethinks its Priorities
McDonald’s has faced adversity in past years, since public awareness regarding obesity and ethics in the food industry has increased significantly. Thus McDonald’s has been forced to shift strategy and adapt to a value proposition that focuses more on the quality of the product.
I agree with the comments that Charmian Ho made in her blog, and see this change as an opportunity for McDonald’s to expand their customer segment and appeal to those who have adopted a diet that not only calls for a product with exceptional taste, but quality ingredients. In the past, the value propositions for many fast food restaurants, not only McDonald’s, focused on serving customers what they craved with expedient service. Recent years have challenged this strategy, however, as obesity rates have soared and the practices of the food industry have become disturbingly transparent.
Not only has McDonald’s value proposition changed, however, but their channels as well. They have also begun to reach out people directly via the internet to gain information regarding the preference of their customer segment. Through these changes, McDonald’s has shown an incredible ability to evolve and suit the changing needs of their modern customer while maintaining the integrity of their business as a whole.
Managing with a Mission
The article, “India’s first female bank CEO aims to develop country’s economy,” from The Globe and Mail, truly illustrates the importance of having a powerful and driven manager. Chanda Kochhar, since taking over as CEO of ICICI Bank, has clearly defined her goals and strategies for growth, while describing her hopes regarding the banks potential influence in India’s overall standard of living. Her goals are not simply quantitative; rather they mainly concern expansion and increasing influence over India’s entire economy and rural, downtrodden areas. Instead of pursuing merely single objectives, she plans to improve the company as a whole in order to achieve a greater global status and build a stronger relationship with other countries and India’s own people. These strategies not only promote growth within the company, but social growth as well. This shared value is a key component of ICICI’s success and a true indication of Ms. Kochhars strength as a manager. She is not simply content to focus on the success and proliferation of the bank, but of the people ad country it serves as well. She is driven by the power to influence and has shown her aptitude for achieving goals. The fact that she happens to be encouraging women to pursue positions of power in business is just the cherry on top.
Ben and Jerry’s: Sweet Treats Making Statements
Ben and Jerry’s ice cream company has long been an active participant in the political sphere, and has once again stepped into the spotlight, as shown in a recent Global News article. Ben and Jerry’s has now begun sourcing non-GMO ingredients to show its commitment to the non-GMO movement and a customer’s right to a high-quality, natural product.
Ben and Jerry’s choice to change their method of sourcing ingredients, as well as their outspoken nature in the non-GMO movement, truly reveals their ethics and overall values as a company. This has not only affected their customer relationship, but now their value proposition as well. Customer’s can now see how Ben and Jerry’s political views play into the improvement of their overall product. This ultimately creates positive recognition for the company, and could lead to a greater appreciation for the importance of non-GMO products. Though the impact of such ingredients is not fully understood, Ben and Jerry’s has shown that the shift away from such products simply means a more locally-sourced, natural result. This recent change has also given way to other GMO labeling measures that give Ben and Jerry’s the opportunity to expand its ideas and enlighten the rest of the country about its all-natural, delectable ice cream.
Taskeo Mines Faces The First Nations Factor
The recent article in the Vancouver Sun regarding the land conflict between First Nations and Taseko Mines Ltd. clearly illustrates the impact that social, political, and environmental factors can have on a company. Social and environmental issues have come into the spotlight even more in recent times and have consequently played more of a role in the many restrictions that business’ have come to face. Due to the increasing influence of these factors in society, the government has reacted to accommodate the interests of groups like First Nations. Thus, First Nations has come to hold more power over companies like Taseko that threaten their cultural values as well as the precious ecosystem of the area. The Canadian government has declared its commitment to abiding by the interests of First Nations people and has thus placed political limitations on companies that do not stand by their principles. Though Taseko claims to have presented a comprehensive business strategy in order to avoid such social and environmental conflicts, the risks their activities pose to the values held by the aboriginal community prove to be too dangerous. Consequently, Taseko has not just had to adjust its business model to suit such external factors, but shift the location and strategy of operations entirely.
Is Consensus Killing Innovation?
Experimentation is an integral part of a business’ success, as described in Maxwell Wessel’s Harvard Business Review blog. However, the idea that consensus is not important in companies looking to test the market is not entirely accurate. Innovative companies do need to innovate constantly to remain current, but they need not lose the total integration of the business.
Wessel examines the fact that the time spent circulating ideas around is costly. Although this is true, many failed experiments also accumulate to produce a large cost. In order for a business to have a clear idea of its goals and its own identity, there must be an overall consensus among the different departments and individuals involved with its success.
Wessel also encourages businesses to not punish failure, but punish waste. However, tests that fail due to a lack of consensus within a business also seem like a waste of resources. Choosing to simply launch an experiment without indulging the ideas of those invested in the company’s interests and knowledgeable about its place in the market, is a complete waste of company intelligence. Consensus and the power of combined experience is one of the greatest assets a business has, and choosing to toss that aside in the interest of experimentation puts overall success at risk.
Marketing to Men: How Yogurt Got Masculine
Customer segments are rapidly changing throughout the food industry, as shown by the Washington Post’s recent article. Women have nearly always been the prime targets for food companies, as they have, in previous years , been most likely to do the most grocery shopping within a household. However, as times have changed and women have become the main source of income in many households, companies have adapted and introduced innovative ways of attracting male shoppers’ attention.
This is an incredibly important transition for food companies. Instead of marketing indirectly to the male client through the female shopper, they can widen their consumer base and provide products that will appeal to men as they see them in the store. Thus these companies such as Kraft and Dannon have capitalized well in developing new marketing strategies relevant to their new costumer segment. The ability to adapt to demographic changes is an invaluable component of a company’s success. By expanding and adjusting value propositions to suit a male client, many of the food companies mentioned exhibit transient advantage and thus gain momentum over other company’s who cannot adapt as quickly. Through the bold new flavors and designs of many products on grocery store shelves, the food industry is rapidly reflecting the changing nature of society.
9 Building Blocks: Apple’s Stairway to Success
Apple has grown to become a company that embodies all of the aspects of the business model, specifically the “9 Building Blocks,” to near perfection. As related in the article, “Apple: iPhone 6, iPhone 6 Plus Preorders Broke Records,” in the New York Times, Apple iPhone 6 has once again broken records in the number of sales upon its release. This success is due to Apple’s intricately formulated business model, but especially their attention to value proposition, costumer relationships, costumer segments, and key partnerships.
Apple has created a loyal customer base by developing a reliable brand that continues producing newer, improved versions of its popular items. They listen to customers and provide a product that suits their needs, create technology that appeals to a mass market, and partner with companies that can distribute to many customers efficiently. While Apple has changed their product design and features to suit the ever-shifting ideals of the modern world, they have remained true to their original image and have thus retained their original customer base while adding new followers. This situation has ultimately lead to vast growth and increasing popularity with each new Apple iPhone. The Apple Company has proved that by abiding by many of the 9 Building Blocks of business, one can experience exponential growth and overall customer satisfaction over a prolonged period of time.