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Do Companies Have Business Con - College Paper

Do Companies Have Business Con

Organizational or corporate social responsibility refers to the obligation of a business firm to seek actions that protect and improve the welfare of society along with its own interests. Corporate social responsibility often challenges businesses to be accountable for the consequences of their actions affecting the firm's stakeholders while they pursue traditional economic goals. The general public expects business to be socially responsible, and many companies have responded by making social goals a part of their overall business operations (Hay, 1989). This paper will discuss four companies that have a conscience towards our today's society, and helped to create a better community ...

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the pressures of dealing with national media coverage, J&J executive immediately opened their doors to the press and took great pains to keep the public informed about the situation. It soon became apparent that the cyanide had been put into the capsules after they had left J&J's factories, and the problem seemed to be confined to the Chicago area. Nevertheless, Tylenol sales sank to 20 percent of their previous level, and an opinion poll showed that 61 percent of Tylenol users intended to stop using the product.
A major question that arose was what to do about the 31 million bottles of Extra-Strength Tylenol on drugstore shelves throughout the country. The FBI and Food and Drug Administration advised J&J managers not to take any drastic action. Even so, the managers promptly took the unprecedented step of recalling the unsold bottles, at a cost to the form of $100 million (Fortune, 1987). A few weeks later they decided to reintroduce Tylenol capsules in a triple-sealed, ...

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bold and costly move in keeping with its Credo. The actions of J&J in the two Tylenol incidents earned the company widespread praise. Among Fortune's 300 most admired U.S. corporations, J&J was rated number one in 1987 on community and environmental responsibility. J&J's action in the Tylenol situation were unusually swift, decisive, and costly. In the mid-1990s, Tylenol remains one of the America's most popular and trusted brand names (Guzzardi, 1990). The product commands nearly one-third of the $3 billion brand name analgesic market. No other brand approaches have even 50 percent of Tylenol's market share.
American Telephone & Telegraph (AT&T) established goals for ...

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PAPER DETAILS

Added: 2/10/2008 07:12:08 PM
Category: Miscellaneous
Type: Free Paper
Words: 1688
Pages: 7

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