social responsibility and ethical standards.
This essay focuses on social responsibility and ethical standards. Think of evidence of social responsibility (like sponsoring a Little League team) that a small business
social responsibility and ethical standards.
a management multi-part question and need an explanation to help me understand better.
1.Write a brief summary of the connection between social responsibility, ethics, and strategic planning in a small business setting.
2.How can a small business show that it is socially responsible? Think of evidence of social responsibility (like sponsoring a Little League team) that a small business can demonstrate.Technology is advancing continuously. The advancement is greatly influencing businesses. Performing environmental analysis on these factors will help you stay up to date with the changes. Technology alters every minute. This is why companies must stay connected all the time. Firms should integrate when needed. Technological factors will help you know how the consumers react to various trends.
Economic factors involve all the determinants of the economy and its state. These are factors that can conclude the direction in which the economy might move. So, businesses analyze this factor based on the environment. It helps to set up strategies in line with changes.
I have listed some determinants you can assess to know how economic factors are affecting your business below;
- firstly, The inflation rate
- secondly, The interest rate
- thirdly, Disposable income of buyers
- further, Credit accessibility
- further, Unemployment rates
- lastly, The monetary or fiscal policies
- finally, The foreign exchange rate
3.Define the purpose of a code of ethics, and write a brief code that would be suitable for a small business.
4.Write a mission statement for a small business that not only functions as a strategic planning guide but also incorporates the company’s philosophy of social responsibility and ethical standards.
5.Why is environmental analysis more crucial to the small business owner than to larger corporations?
