Assignment:
Question:
The company Life is Good seeks to encourage others to be philanthropic throughout the year to help their foundation for children. They must do that in a way that does not push away the very customers whom they depend on to finance the foundation. Take a look at this short video clip:https://www.youtube.com/watch?v=00PPXilS9wA - as you are watching it reflect on the co-founders attitude toward social responsibility.
Now put yourself in the role of Chief Strategist for Life is Good and explain how you would position social responsibility to further both their social and strategic goals. Be sure to clearly define the concept of social responsibility, correlate that to the example(s) you see in this video (you can also take a look at their website for more detail -www.lifeisgood.com) and focus on your role to identify strategies that allow the company to succeed. Clearly explain how you would position the company to move forward socially, ethically and financially (the triffecta of success!)
Debate: Agree or Disagree
Sustainability is the way to meet the needs of the current generation while not sacrificing an ability of future generation to meet their needs. In the business aspect it is important to know how sustainability can serve in order to help accomplish the main challenges that businesses face. Four components need to be included into a company's everyday operations in order to become sustainable: protect the environment, have a social responsibility, care about cultures, and be able to gain economic sustainability. In order to use strategies for sustainability companies use transparency, engagement and networks. This helps developing better products that are more efficient and cost less money to make, increase customer base and work to engage employees and make them more productive (Werbach, n.d.).
Sustainability becomes more important for companies that want to succeed. A lot of investors and shareholders are looking for companies they can invest into that care about the environment and strive for the most efficient production. Firm's leadership needs to implement sustainability strategy into organizational culture and everyday operations. All the employees need to be aware and completely engaged into this strategy. With the help of different campaigns and promotions a firm can make everyone aware that the company is aiming for sustainability. Not only it will attract customers and investors who care about the environment and want to help somehow but also will reduce employee turnover and increase their awareness (Bhattacharya, 2009).
Life is Good is a company that has a mission to spread the power of optimism. The signs and pictures on their clothes encourages to love, care, give, love and be happy. They are trying to serve a positive purpose by spreading a power of optimism and giving 10% of their income to children in need. The founders of the company understand that every organization has an impact on our culture and society and that is why they inspire us to share something good that happened to us or be the good that happens to someone else (Life is Good, 2015).
In order for company to attract more customers and help more kids in need Life is Good's leadership need to create an efficient production of products that have a better quality, last longer and have a price that is affordable for an average citizen. By creating products that last longer, using processes and equipment that requires less resources and does not harm our environment, Life is Good implements the strategy of sustainability as their main strategy for success.