Ethical and Social Responsibility Challenges for Entrepreneurs Graber with Sara and Chris fortune (video case 6.1)
Graber Products is all about the importance of employees in the survival of the company. It shows the importance of dedication, effectiveness, efficiency and loyalty of the whole organization for the growth of Graber Products. For the success of the company the board of director also plays major roles. By having ethical owners Sara and Chris fortune who are the help to everyone in the company who aimed become successful without them being not a legal one.
Why was the support of employees so important to the company’s survival?
Employees are the asset of every organization, and without their contribution and dedication no organisation is successful and so is the survival of Grabers. Employees are the people who are contribute and responsible for the success of any company. The company is nothing without the employees. Graber Products started with 24mployees and increased to 60 employees. This shows the growth of the company. Employees are the main ones who contribute to the company’s success. For the company to achieve $10 million in sales, the employees had to work very hard. The senior employees had the responsibilities of training the new employees. When Graber Products was sued for patent infringements and during the lawsuit the employees always rallied behind the company. Even when Graber lost $1 million in fighting the lawsuit and was advised by many to declare bankruptcy, Chris and Sara never gave up because they knew they had full support of their employees.
Supports of employees are very important to the company survival because they are very effective, efficiency, and loyal to the company in order to produce quality products and services (Potter – Brotman, 1994). Quality assurance is the biggest pillar in any business so same goes to Graber Products. The employees also showed their commitment in producing quality products in order to increase sales. For continues growth of the company, the quality of product and services has to maintain. With this there is high demand for Graber Products. With the high demands comes the date line for delivery. The employees have to make sure all this is met. Employees were wiling to work overtime to increase the profit. By doing so the company is able to pay of the bank loans. For increase in sales the price of the product must also be maintained. For this there should be minimal wastage of raw materials. Again this is where the employees play an important role.
Another reason why employee’s supports were very important in survival of company is culture. According to Adler (1997), in culturally organizations the best of each culture is melded together without infringing on the other. In Graber Products everyone worked together to achieve success of the company, even though to the new employees. So it has been blended as a culture of the organization where every one in Graber Products to accept changes.
Peter Drucker’s comments about innovation and business can be applied to all human systems (Drucker, 1999): Innovation means, first, the systematic sloughing off of yesterday. It means, next, the systematic search for innovative opportunities in the vulnerabilities of a technology, aprocess, a market, in the lead time of new knowledge; in the needs and wants of a market. It means willingness to organize for entrepreneurship; to creating new businesses. It means, finally, the willingness to set up innovative ventures separately, outside the existing managerial structure, to organize proper accounting concepts for the economics and control of innovation, and appropriate compensation policies for the innovators.
Introducing a new product is very comment in companies to increase their sales. Even when Chris tapped into his mind about new production, his employees...
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