Organizational Economics - New England College Assignment

Managerial Challenge

Assignment

Prof. Hyder Davis

Ravikanth Kolagatla

07/12/2020

Managerial Challenge

Corporate social responsibility (CSR) is a self-regulating business model that aims to

contribute to society. The days of sole operation of the business for profit are gone. Many

organizations have shifted their approach towards corporate social responsibility. Dominating the

market by a small company necessitates rigorous efforts to influence the stakeholders like

investors, customers, employees, suppliers, etc (Fallender, 2019). Once the stakeholders are

influenced then it becomes extremely easy to dominate the market even by small organizations

like Intel. There is a need to discuss some of the reasons by which the organizations can

dominate the market:

1. Transparency: Transparency of the reports helps to generate loyalty of the organization

towards their investors. Most of the organizations manipulate their reports and then end

up losing their investor base. Small organizations have changed their reporting procedure

just to highlight the difference between the previous and current year goals.

2. Focus on CSR: CSR is a topic of concern for most of the organizations nowadays

because of growing environmental issues. The investors are also concerned about the

environmental social and governance issues.

3. Building an effective customer relationship: The prime way to earn profit for the business

comes from the customers. It doesn't matter if the customers are the end consumers who

will be using the product for themselves or industrial consumers who will be

manufacturing end product with the help of the product provided by the company (Sigala,

2018).

Managerial Challenge

4. Employee retention: The success of the organization also depends on the long-term

retention of the employees. A high attrition rate takes a lot of time to adjust new

employees with the environment of the company. Moreover, frequent recruitment results

in losses for the organization.

5. Recognizing the changing needs of customers: With the continuous change in

technology, it has become essential for the companies to determine the need of the

customers before manufacturing the final product. This will help in reduced efforts to

promote the product as the customers will automatically purchase the product to fulfil

their changing needs.

Managerial Challenge

References

Fallender, S. (2019). 2018-2019 Intel Corporate Responsibility Report: Creating Value through

Transparency. https://newsroom.intel.com/editorials/2018-19-intel-corporate-

responsibility-report/#gs.aiw0br

Sigala, M. (2018). Implementing social customer relationship management: A process

framework and implications in tourism and hospitality. International Journal of

Contemporary Hospitality Management, Vol. 30 No. 7, pp. 2698-2726.

https://doi.org/10.1108/IJCHM-10-2015-0536

Managerial Challenge