Bus305: Conscious Capitalism

• Watch this video: https://www.youtube.com/watch?v=CYJl3DOMGM8
• Read this article:https://www.fastcompany.com/2680757/how-civic-consumption-can-drive-change-in-business-as-usual
• Finally, look at the current news (whatever credible news source you follow) to see what the world is doing to attempt to influence Russia's attack on Ukraine.

Then, answer the following questions and reply with aparagraph for each. Be unique and individual in your responses. Use your best critical thinking in this post. Do not repeat what a bunch of other people posted before you. Use quotes and evidence from your sources to support your views:

1. What are your thoughts on what citizens can do to influence business and how businesses should respond?
2. What are your actions on what consumers should do to influence business and if business should respond?
3. What are your thoughts on how consumers should do to influence business and if businesses should respond?
4. What are your actions on how citizens can do to influence business and how business should respond?

Next, respond to 2 classmates using the following outline:

Hi,

I just finished reading your written discussion on ___ by___and I acknowledge it to have been particularly (well worded, articulate, impressive, eloquent, clear, precise, detailed, meticulous, thorough, short, straightforward, concise, compendious)

One section that particularly stood out to me was when you explained, ""

To add to your work _

Furthermore,

Nevertheless, I think you did great on the assignment. Great work!!

-Your Classmate

• Student 1:

"Some crucial ways by which consumers can influence businesses is by taking conscious decisions to band together their purchasing power and leverage the demand to ensure that productions provide the social and environmental services at a competitive price. Due to consistent evaluation of products consumers have become quite decisive before purchasing anything and analyse every thing quite accurately which demands for quality in the product. In today's fast world it is the consumers who basically has a lot of potential to increase or decrease the demand for a certain product in the market. At the same time it is really important for consumers to take into account not only their personal benefits but also the impact the product will cause on the environment and society and then only use their purchasing power to bring the product in demand. Along with evaluating the quality and the price of the product it is important that consumers also should significantly take into account the risks and benefits companies and products can cause to the whole marketplace. Usually traditional businesses ignore the growing strength of their customers add a danger to be out-skirted from the market. Today's advance technologies have made it quite easier for consumers to come together and make major changes in demands by the values and thinking that they incorporate. The power customers have will not only push a certain business that are stuck in traditional thinking but it will also promote the development of new kind of hybrid system that will make its place in the consumers market place. Taking for example Russia's attack on Ukraine, Russian brands were banned and companies from other countries which had their outlets in Russia abandoned the country to stop the promotion of Russia. Such adaptive changes shows the maturity of consumers and their ability to restrain their own personal needs but still support the overall good and with hold their duty in the society."

• Student 2:

"It will compel a shift away from short-term thinking in corporate boardrooms if customers join together to make purchase choices that favor ethical business models. The emphasis here is on the ability of civic groups and community people to influence social change via the marketplace by exercising their combined strength. The topic under discussion urges those in the social sector to utilize their market power to influence good change in areas as diverse as the environment, education, and fair trade, among others. Although the concept of creating a customer-focused brand is not new, owing to the strength of the social sector, today's consumer has a far more sophisticated set of problems that they want to solve with their buying power. In addition to cheap prices and outstanding quality, today's customer wants to know how the items are obtained, if the manufacturer treated workers fairly, what the company's environmental imprint is, and whether it is a decent corporate citizen. The social sector has propelled consumer awareness to new heights, which is good for both the marketplace and the planet. The social sector has propelled consumer awareness to previously unheard-of heights. Civic consumption goes a step further, enabling socially and ecologically conscientious consumers to pool their buying power and use it to guarantee that manufacturers supply socially and environmentally beneficial products and services at competitive rates. There are examples of this across the economy, but if civic consumption is to develop, two key elements of infrastructure must be in place. Traditional corporations will betray themselves if they disregard the increasing power of civic consumption. Today's technologies make it simpler for consumers to band together to make large demand adjustments based on their values; firms that lose these customers will lose them all at once. Organizations that will prosper in a civic consumption economy will be more hybrid, adopting market-driven methods to achieve social objectives while aligning with and prioritizing this new set of civic consumption goals. The emergence of civic consumption will not only put conventional enterprises out of business, but it will also encourage the creation of hybrid businesses that will prosper in the civic consumption market. Consumers want a genuine and long-lasting reorganization of business objectives, and the economy requires it."