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Actions of a Company on Consumers
Actions of A company on Consumers
The major aim of marketing is to create and enhance customer value. Generally, marketing encompasses exchange between sellers and buyers or between other parties. Therefore, marketing has a significant impact on a firm, its customers, its suppliers, and other parties that are directly or indirectly affected by the choices made by the firm. Marketing mostly entails enduring relationships between sellers, buyers, and other parties. The main processes involved in marketing are creation, communication and exchange or the commodities. The main idea in marketing is for a firm or an entity to come up with an item of value to many or just a single customer, who should be willing to pay sufficient amount of money in order to make the venture worthy taking into serious cognizance opportunity cost.
Corporate crisis usually leads to negative publicity, which adversely affects the image and reputation of a company. Corporate crisis can be simply be defined as non-routine and unexpected occurrence that leads to uncertainty within a company and can eventually threaten an organization major objectives (Seeger, Sellnow and Ulmer, 1998). Corporate crisis have recently been witnessed in Arthur Andersen where there have been cases of questionable accounting ethics, Firestone that has had defects in tires it manufactures and contamination of Taco Bell products by gene-spliced corn. Irrespective of the specifics of the situation, crisis, whenever they arise, often escalate to negative publicity that undesirably affect the company’s image. Generally, publicity is widely acknowledged to be more influential and credible compared to any other company0controlled communication (Bond & Kirshebaum, 1998). There is always high credibility same as negative effects, a propensity for negative information to always be weighted more compared to positive information whenever people evaluate other people, ideas or objects (Mizersku, 1982). In addition, companies are more likely get negative news from the media since the media always has preference for disseminating bad news.
Every company is subjected to legal responsibilities and therefore, is expected to follow the set law to the latter, and this directly influences the planning process of an organization. For sound operation, a firm must be sufficiently familiar with all aspects which govern the industry in which the company functions within. For example, a legal dispute that was presented in the Hill case circled around Black’s breeching of contractual and fiduciary duties by unlawfully diverting to a rival company an important which by all aspects rightfully belonged to the corporation (Delaware, 2004). Together with his associates, black had greatly gained from their ill-gotten wealth through the non-competition payments that were linked to sales of newspaper by Hollinger International since 1998 until 2002(Doolittle and Westhead, 2007). Consequently, it was reported that for Hill Corporate assets to be transferred, Black together with his associates aborted every effort to have them disclose the necessary information that was needed to be filed with SEC, and that they actually manipulated and distorted several information in the corporate records and books. They also ensured the records do not in any way reflect the transactions as accurately as required. Also, legislations on securities require the revelation of some prescribed information that concerns the affairs of the company and other public companies. This comprises of insider trading reports, financial statement, a yearly information form, material change reports and press releases (Canadian Securities Institute, 2008)
In order to effectively govern their businesses, every organization must critically think about coming up with appropriate guidelines during the planning process. Apart from governing the business, it is also aimed at pr.............
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