Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assignment: Suggestions for further resources, questions of clarification, or providing context and insight. Avoid simple posts of agreement; if you agree, explain why, and then

Assignment: Suggestions for further resources, questions of clarification, or providing context and insight. Avoid simple posts of agreement; if you agree, explain why, and then thoughtfully further the conversation.

Google uses its organizational resources to benefit its employees through diversity and inclusion such as 30% increase in leadership representation of Black, Latina and Native American by 2025. An example Google uses its organizational resources to benefit consumers is providing access to capital to their consumers. For instance, the company established a program called, The Family Independence Initiative (FII) which "helps low-income families access small cash investments, connect with each other and share solutions" (Google, n.d). Since 2015, the FII has utilized over $2.5 million in Google.org grants to empower unprivileged families to escape poverty (Google, n.d). As a company stewards its resources, it will inevitably need to balance the interests of competing stakeholders. If profitability is a primary goal, how does a company balance the competing interests? The best way to balance the interests of a company's competing stakeholders is determining its priorities by evaluating its mission and values to identify the ones that best align. Another way to balance interests is to practicing transparency and equality. Are there any potential impediments or legal issues that could challenge the corporation's approach to corporate responsibility? Some potential impediments that could challenge the corporation's approach to corporate responsibility is when the company fails to practice business in an ethical and moral manner resulting in conflict between stakeholders and bad reputation. According to Mayer et. al (2012), "by looking for loopholes in the law that would help create short-term financial gain, companies have often learned that in the long term they are not actually satisfying the market, the shareholders, the suppliers, or the community generally." How might the company address these challenges? A company can address these challenges by streamlining and executing corporate social responsibility, identifying ways to tying resources to specific initiatives. Monitoring and recording financial, environment and societal impacts. Lastly, sharing the bottom-line impact of the company's sustainability with internal and external stakeholders (Action Funder, 2022). References Action Funder. (2022, July 7). How to overcome the biggest challenges facing CSR and ESG leaders . ActionFunder. Retrieved November 5, 2022, from https://www.actionfunder.org/how-to-overcome-the-biggest-challenges-facing-csr-leaders/ Google's mission, values & commitments. Google. (n.d.). Retrieved November 5, 2022, from https://about.google/commitments/ Forbes. (2022, April 14). Council post: 15 strategies for balancing competing stakeholder priorities. Forbes. Retrieved November 5, 2022, from https://www.forbes.com/sites/forbesbusinesscouncil/2022/03/23/15-strategies-for-balancing-competing-stakeholder-priorities/?sh=33ac6d18262f Mayer, D., Warner, D., Siedel, G., & Lieberman, J. K. (2012). Government regulation and the legal environment of business \. Open Textbook Library.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Law Express Employment Law

Authors: David Cabrelli

7th Edition

1292295252, 978-1292295251

More Books

Students also viewed these Law questions

Question

licensure as a psychologist in the respective jurisdiction; and

Answered: 1 week ago

Question

1. To take in the necessary information,

Answered: 1 week ago