Competing on Social Purpose Essay
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages
Competing on Social Purpose Essay
Competing on Social Purpose
- a) Summary and Analysis
The article discusses the recent trend of business attempting to pick up social purposes to associate with their business to promote profit, sales or other functional benefits. This is because there is a shift of customer preference on the brands they wish to associate themselves with. The article establishes that the business models that had a social purpose initially incorporated into their businesses show a steady growth rate and do not face the challenges of competing on social purpose. Such companies include TOMS, Warby Parker, and Patagonia.
The challenges of competing on social purpose tackled in this article are mostly encountered by businesses that are trying to develop social purpose strategies after running for a while without any. The article defines three fields in which managers should focus on to create effective social purpose strategies which include:
- Brand heritage – This revolves around the merger of the companies’ principal product/ service’s features and the nature of the social purpose strategy. The more compatible they are, the easier it is to come up with an effective social purpose strategy.
- Customer tensions – This revolves around active knowledge of the social tensions facing the target market.
- Product externalities – This revolves around active knowledge of the indirect costs or benefits that are linked to the company’s product/ service. This is more likely to affect companies dependent on 3rd party interactions.
- b) Critical Thinking
Studies have established that the modern day consumer is more likely to associate themselves with and/or buy products from companies that have a defined social purpose that addresses societal tensions or public issues. This speaks to the shift in consumer trends in which is directly linked to their psychology. For this purpose, it is integral for managers to focus on a few characteristics of purpose-driven growth. Firstly, it is important for managers to understand that once a social-purpose association to a brand is established, it is misguided to change/ shift course. This connection is important the consumers to the extent that sudden shifts in social purpose strategies could challenge consumer loyalty. Thus it is important to select the appropriate strategy.
Another element to keep in consideration is that whilst there is a significant shift in consumer trends, there is no certain way to assess market potential and benefits. Companies that have successfully employed social-purpose strategies have illustrated growth whilst the companies that have failed to apply appropriate strategies have faced persecutions on social media and recorded drops in consumer rates, however, these do not establish definitive data. Most data on the success/ failure of social-purpose are collected through consumer surveys rather than customer behavior effectively making them less credible.
- c) Question to Class
How can the role of a brand defines the significance for a social need?
A social-purpose strategy can not only determine the value of a brand, but also define roles of the particular brands. Brands directly aid managers in the choice of their strategies and the assessment of the impacts thereof. There are four ways in which a brand may create value for the social purpose which include:
- The provision of choices is one way in which brands create value for their strategies where the existence of different brands allows for consumers to meet their needs and satisfy any relevant social tensions existent that they may need to address.
- Brands that have an established link with a given social-purpose also define the significance of the social need by influencing the mindsets of the public through consumer participation.
- Brands also have the ability to generate appropriate resources relevant for the tackling of the defined social needs. Resources are inclusive of talent, time, finances, relationships and networks, and ability.
- Improvement of conditions to address the established social purposes can also be facilitated through brand value. This can be done via the association of certain brands with organizations and individuals to form the face of the frontlines of an entire social tension.
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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