The Social and Economic Impacts of an Organization
Imagine a small town in which a new factory is built. Then think about how that business might impact its local community. You may consider the possible job opportunities that the factory will provide to people living in the area, or perhaps you might think of the potential impact to the environment of gases or other chemicals introduced into the air or water supply as a result of production. Or perhaps, that factory, through its corporate social responsibility practices, can provide services that benefit the neighborhoods and families in its local or even global community. No business operates in a vacuum, and whether positive or negative, it is likely to have some kind of impact based on its business practices. Using these resources, you will consider the social and economic impacts of organizations.
Impactgarden.org. (n.d.). Responsible business. https://impactgarden.org/responsible-business/
Note: The approximate length of this media piece is 16 minutes.
Understanding the Business Environment
In addition to understanding how a business influences the environment in which it operates, it is critical to understand how that environment influences the stability and success of a business. The outside business climate includes financial, political, regulatory, social, and other environmental factors that can have a significant impact on how a business operates and engages with its customers and stakeholders. Remaining aware of the ever-changing needs and influences of society is critical for business leaders so that they can remain competitive in the market while also advancing the organization’s strategic initiatives.
Note: The approximate length of this media piece is 2 minutes.
Time Estimate: 15 minutes
The Social and Economic Impacts of Business
Organizations can directly and indirectly affect communities in both positive and negative ways. Their impacts can be simple, such as donating to a local school or sponsoring a neighborhood event, or they can be so profound that the organization shapes or reshapes the landscape of a community—or even the world—for generations. Perhaps an organization pollutes the local waterways or closes a factory that employed half the town, or an organization decides to build a theme park in an underdeveloped area that, in 50 years’ time, could become a top tourist destination.
In this Discussion, you will explore the social and economic impact of an organization with which you are familiar or that you have researched.
To prepare for this Discussion:
Consider an organization with which you are familiar that had a social and economic impact on a community. The community can be one you are familiar with, or you can locate an example of another community through your research. Additionally, the organization’s impact on the community could have been positive or negative.
PROBLEM QUESTION.
Post your analysis of the social and/or economic impacts of a business organization, to include the following:
Briefly describe the organization and the community in which it operates.
Analyze the organization’s social and economic impacts on the community (positive or negative). Provide specific examples to support your analysis.
Analyze how the benefits or consequences of this social and economic impact on the community shapes your perception and others’ perceptions of the organization.
