Reference no: EM131221676
PLEASE REBUTTAL, RESPOND,AND ANSWER EACH OF THE FOLLOWING QUESTIONS OR POST STATEMENTS. MUST BE 150 WORDS (PLEASE), WRITE IN 3RD PERSON.ONLY ONE REFERENCE CAN BE USED FOR EACH ANSWER.
Sole proprietorship can often find itself in owner-operator business or managed as a larger business. In either case, owners are busy. Campin, Barraket, and Luke (2012) argued that small business owners often focus on running businesses vice the communities from where they operate. Several businesses follow public policy frameworks that often outline the legal limitations that businesses operate (Campin et al., 2012). Even so, businesses, regardless of their size or type, have a duty to their communities. In certain communities, businesses have networked to support their communities. Besser, Miller, and Perkins (2007) conducted a study on the relationships of business networks in local communities and found a positive relationship between networked businesses and responsibility to the community. In this construct, businesses have an opportunity to demonstrate their efforts toward community without compromising their businesses. In this pooled resource concept, one could argue that communities will benefit more in the long run rather than individual small businesses provided meager support.
Besser, T., Miller, N., & Perkins, R. (2007). For the greater good: business networks and business social responsibility to communities. Entrepreneurship and Regional Development, 18(4), 321-339.
Campin, S., Barraket, J., & Luke, B. (2012). micro-Business Community Responsibility in Australia: Approaches, Motivations and Barriers. Journal of Business Ethics, 115(3), 489-513.
Sole proprietors do not have a greater responsibility to the community than to internal stakeholders, however, if these individuals want to grow their respective businesses they will need to build relationships with those in the community to stimulate growth. Lähdesmäki and Suutari (2012) note that "Optimal social proximity brings about trust and therefore knowledge exchange is better between economic actors" (p. 491). This trust leads to more economic exchanges between the community and the sole-proprietors, which in turn supports internal stakeholders as well. This does not mean that sole-proprietors must place one stakeholder over the other, but instead realize they are all part of one larger ecosystem. There is nothing that says organizations must have a greater responsibility to the community, but if an organization wants to continue to operate in a specific community they have to continue to build trust with the community they serve, which will in turn support internal stakeholders as well.
Lähdesmäki, M., &Suutari, T. (2012). Keeping at Arm's Length or Searching for Social Proximity? Corporate Social Responsibility as a Reciprocal Process Between Small Businesses and the Local Community. Journal Of Business Ethics, 108(4), 481-493. doi:10.1007/s10551-011-1104-6
This course has been very insight full in a topic in which I truly had not thought of much. Stakeholders play an important role in any organization in the profit or non-profit sectors. Stakeholders in many situations have the power influence in the success of an organization. Executives and leaders of all organizations must always be prepared in advance to engage any group of stakeholders. Mitchell & Cohen, (2006) assert that stakeholder thinking is essential to all organizations and knowing who or what is important really does matter. Harrison, (2002 ) explains that relationships between humans and group of humans are very important because they are the building blocks. In other words in my interpretation, building a successful organization requires many groups coming together and bringing their input and expertise to the forefront. When executives chose to ignore the input of others, that's when organizations fail. This course will assist in helping me keep an open mind to input of all those groups that want to make our world a better place.
Harrison, J. S. (2002). A STAKEHOLDER PERSPECTIVE OF ENTREPRENEURIAL ACTIVITY: BEYOND NORMATIVE THEORY. Ruffin Series in Business Ethics, , 143-150. Retrieved from https://lopes.idm.oclc.org/login?url=http://search.proquest.com.lopes.idm.oclc.org/docview/192331448?accountid=7374
Mitchell, R. K., & Cohen, B. (2006). STAKEHOLDER THEORY AND THE ENTREPRENEURIAL FIRM. Journal of Small Business Strategy, 17(1), 1-15. Retrieved from https://lopes.idm.oclc.org/login?url=http://search.proquest.com.lopes.idm.oclc.org/docview/201476302?accountid=7374