Assignment: Discussion- Business As An Agent Of World Benefit
Adding Value Through Financial Practices
Businesses continue to look for ways to add value and attract consumers. Value can be developed in many forms; however, the cost of value must not outweigh its benefits. In other words, increasing the consumer's value must increase the company's profit-whether it is an increase in the market share or consumer loyalty. This module introduces some techniques and concepts you can apply to increase your business's value.
Financial management is one of the critical factors that contribute to a company's mission, whether the company is a for-profit or a nonprofit company. Financial performance is a constraint in every entity's decision-making process.
For a nonprofit company, financial performance is more about financial management-using money responsibly in the eyes of the funders, while meeting the clients' needs.
In a for-profit company, meeting the short- and long-term financial goals of investors is the baseline for having resources to execute the broader mission, whether that mission is to create the next generation of drugs to cure cancer, develop a toothpaste that prevents gingivitis, or create the next gambling game to entertain the patrons of a casino.
Throughout the course, you have discussed a variety of measures used to analyze the financial and nonfinancial aspects of an entity or a proposed investment. This module continues the discussion and evaluates what makes a business successful.
Like with many of the analysis measures discussed, it is best to look at the bigger picture instead of individual pieces. As you begin your assigned readings, consider how each component complements the other.
Module Conclusion:
When evaluating a company, the financial bottom line is not the only crucial element. It is important to also evaluate how the company interacts and engages with the community and its employees. While it is important for a company to earn profit to maintain operations, there is a system of give-and-take that must be adhered to for establishing a balance between management and stakeholders. Without a proper balance, a company could lose its consumers' support, which would lead to loss of investors.
Discussion- Business as an Agent of World Benefit
Access the World Inquiry's Innovation Bank Web site from this module's readings. Then, read at least five mini case studies where companies made money by serving societal needs.
Tasks:
On the basis of the cases that you read, answer the following question:
1. Is the business as an agent of world benefit (BAWB) an academic fad or a change in business principles? Why?
Do the following when responding:
• Read your answers. Provide substantive comments by contributing new, relevant information from course readings, Web sites, or other sources; building on the question; or sharing practical examples of key concepts from your professional or personal experiences Respond to feedback on your posting and provide feedback on their ideas. Make sure your writing is clear, concise, and organized; demonstrates ethical scholarship in accurate representation and attribution of sources; and displays accurate spelling, grammar, and punctuation.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.