Assignment 1 Essay Example | Topics and Well Written Essays - 1000 words - 2

Assignment 1 - Essay Example The company commands about 8 percent of the US TV households (Media General, 2013). The company donates funds to various community programs and helps in highlighting social problems through some of the documentaries (Media General, 2013). Accordingly, employees have an opportunity of volunteering their time in community service. The company is also committed to conserving the environment through recycling and limiting the use of natural resources like water and oil (Media General, 2013). However, the company must improve on the social performance through ensuring diversity in the workforce through recruiting more individuals from the minority ethnic groups in the society. In addition, Media General, Inc must allocate about 10 percent of its net income towards additional employment benefits and corporate social responsibility initiatives. There are several stakeholders in the organization. There are both primary and secondary stakeholders. The primary stakeholders have a direct and co ntractual relationship with the organization and include the shareholders, government, employees, customers, advertisers, business partners, and creditors (Kottler, 2012). The shareholders are the providers of capital while customers create demand for the company products. The creditors provide debt finance while the government provides for the legal framework for reinforcing the business contracts and security of organizational assets (Kottler, 2012). The advertisers provide revenues while business partners assist in various forms such as provision of telecommunication infrastructure and managerial expertise. The employees provide the human talent, skills and knowledge that are needed in executing the operations of the organization (Polonsky, 2005). The secondary stakeholders do not have a contractual and direct relationship with the company, but they desire the organization to adhere to certain social expectations. The secondary stakeholders include the public, the labor unions, a cademic and research institutions and special interest groups. The labor unions expect the organization to adhere to labor laws while special interest groups like minority groups expect the company to ensure diversity in the staff. Advocacy groups like environmental conservation groups expect the company to exert efforts in minimizing pollution, highlighting social problems like disasters and child labor (Polonsky, 2005). Academic and research institutions expect the organization to contribute towards creating employment while the general public members are interested in the long term existence of the company. There is a trade-off among the interests of various stakeholders in the organization. It is my duty as the CEO to harmonize the conflicting interests of stakeholders and ensure the organization meets its goals of improving the social performance (Kottler, 2012). For instance, the shareholders expect a higher than average rate of return on their investment in the company. The b usiness partners and advertisers expect representation in decision-making. On the other hand, employees expect the company to adhere with their contractual agreements, pay high salaries and offer additional benefits (Kottler, 2012). The customers expect appealing news and continuous provision of new information. In this regard, the stakeholders can either facilitate or