Almost everyone has heard of the membership warehouse retailer, Costco Wholesale, whether or not you actually choose to shop there. You can find one of their warehouses in over 400 locations around the United States, as well as an additional 200 warehouses in Canada, Mexico, Australia, the United Kingdom, and parts of Asia. Although they are not quite as instantly recognizable as their main competitor, Sam’s Club of Wal-Mart Inc., Costco has attracted somewhat of a cult following due to their unusual business operations. In many financial comparisons, Costco seems to beat out all of their industry competitors. Even in the recent economic downtown, Costco still posted growth in their stock, as well as higher than industry average profits. So what exactly makes Costco so successful? Many business analysts argue that Costco’s focus on corporate social responsibility is what sets them apart from other retailers such as Sam’s Club or BJ’s Warehouse. Their focus on doing “the right thing” for all of their stakeholders, as well as a vision that aims for long-term success, is a unique business model that has interesting implications for many debates within the business world today. Should a company’s main focus be profit? Do they have a responsibility to act in the best interest of all stakeholders? What are the effects of these decisions? Using Costco as a prime example of a socially responsible corporation, I hope to prove that acting in a socially responsible manner towards all stakeholders is ultimately more beneficial for a company. Continue reading
For the blog posting this week I chose to use a “piece of knowledge” on Freeman. An optional reading for our session 4 class back in February was Edward Freeman’s Stakeholder Theory of the Modern Corporation. Ever since taking Management 101 the concept of stakeholders has interested me: how to identify who is a stakeholder, are their various levels, how does one encapsulate the needs of stakeholders and somehow make that align or fit within what the mission of the overall corporation is, etc.
I searched Stakeholder Theory and Freeman within the Web of Knowledge database. Since Stakeholder Theory of the Modern Corporation itself is within another piece of work, I browsed around a bit, checking out other pieces of work by Freeman regarding stakeholder theory. I spent some time searched within those for different terms, such as Wal-Mart, but did not come up with many results nor any I was particularly interested in. I eventually narrowed my focus onto Stakeholder Theory and “the corporate objective revisited” . This has been cited 76 times within the Web of Knowledge database! In settling on this document, I began sifting through the 76 items cited; I wasn’t really thrilled with this set of resources either. I eventually found an article that, from it’s abstract at least, appeared really interesting: Social Sustainability in Selecting Emerging Economy Suppliers by M. Ehrgott, F. Reimann, L. Kaufmann, and C.R. Carter. The source of the article is Journal of Business Ethics. I did a cited reference search on this article as well, but it has only been cited 3 times within Web of Knowledge.
The abstract provides great insight into what the study was about Continue reading
One of my favorite shows is the British science fiction drama, Misfits. Currently filming its fourth season with an American production in the works, Misfits is just about everything you might want in a show – superheroes, evil villains, obscene language, clever writing, superb acting, dark humor, murder, sex, drinking, and a fantastic soundtrack.
The show follows a group of 5 early 20’s delinquents, sentenced to community service. In the first episode, they are struck by an electrical storm, and each delinquent develops some sort of superpower – immortality, the ability to rewind time, overhearing others’ thoughts, invisibility, and sexual power. Their probation worker is deranged from the storm, and one of our crew kills him in self-defense. Much of the first season revolves around “the gang” trying to prevent anyone from finding out about the murder, as they fear no one will believe that a group of juvenile delinquents has superpowers and had to kill their crazy probation worker in self-defense. It soon becomes clear to the viewer that each episode centers around one villain, usually a citizen who uses a power gained in the storm to harm others, and it is up to our quirky delinquents to stop each villain. Hilarity ensues.
In later seasons, more complex scenarios are introduced – other characters with complicated backgrounds enter the Misfits world, and questions of morality arise. At the end of the second season, our gang has finished their community service and is trying to adjust to normal life. By this time, (spoiler alert!) the appearance of “superpowers” within certain citizens has been outed to society, and their powers are no longer a secret. For some of the gang, their powers are a nuisance. The last episode of the season, a “Christmas Special”, centers around a discouraged vicar, who buys the superpowers of walking on water and telekinesis, and uses these powers to convince people he is the next Jesus. Meanwhile, the same dealer has bought the powers of the misfits. As the vicar exploits his new followers for money, he continues to buy more powers, including some of the gang’s. A follower of the vicar attempts to rob a bar where our misfits are currently day drinking, and in the process, kills one of the gang. Realizing that they cannot save her without their powers (especially the power to reverse time), they run back to the power dealer, who will sell them the remaining powers back for a much higher price than they recieved. What now?
Watch the scene below, starting at 30:00 – hulu will ask to you to log in due to mature content