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Using appropriate headings to guide your thinking, describe how Inell Ltd - Leaving Cert Business - Question C - 2002
Question C
Using appropriate headings to guide your thinking, describe how Inell Ltd. could become a more socially responsible business. Refer to the above text in your respons... show full transcript
Worked Solution & Example Answer:Using appropriate headings to guide your thinking, describe how Inell Ltd - Leaving Cert Business - Question C - 2002
Step 1
Employees
Answer
Inell Ltd. should recognize that its employees have a right not to be exploited. This includes creating a supportive work environment, ensuring fair wages, and providing opportunities for professional development. By fostering a culture of respect and growth, Inell can boost employee morale and productivity.
Step 2
Customers
Answer
It is essential for Inell to prioritize the safety and well-being of its customers. The company should commit to producing high-quality agricultural machinery that meets safety standards. Engaging with customers to understand their needs and incorporating feedback into product development can help mitigate potential risks.
Step 3
Society – Community
Answer
Inell Ltd. must act as a responsible corporate citizen by engaging with the local community. This entails being transparent about business practices and acknowledging any potential conflicts that may arise. Initiatives such as local sourcing or community support programs can enhance Inell's standing in the community.
Step 4
Step 5
Environmental Issues – Recycling
Answer
Inell should also focus on minimizing its environmental footprint. This can be achieved by implementing recycling programs in manufacturing processes and designing products that are easier to recycle at the end of their life cycle. Sustainable practices not only benefit the environment but can also appeal to environmentally-conscious consumers.
Step 6
Shareholders/Owners
Answer
Finally, Inell Ltd. has a responsibility towards its shareholders. The company should aim to balance profitability with social responsibility, ensuring that decisions made not only benefit the financial bottom line but also address the impact on employees, customers, and the community. This holistic approach can enhance shareholder loyalty and long-term success.