Question: Scenario You work for a global health and beauty company that has decided to move to a strategic focus on the triple bottom line (TBL). TBL means it will measure its success based on people, planet, and profit rather than profit alone. This strategic decision is based on a desire to be true to the company’s mission and vision and because engaging inScenario
You work for a global health and beauty company that has decided to move to a strategic focus on the triple bottom line (TBL). TBL means it will measure its success based on people, planet, and profit rather than profit alone. This strategic decision is based on a desire to be true to the company’s mission and vision and because engaging in corporate social responsibility (CSR) will make the company more successful.
The company objective is to transition from its current business model to CSR and TBL in three years. If the company successfully makes this transition, it would be the first in its industry to do so. This would create a first-mover advantage. As part of the TBL focus, the company CEO has asked each departmental manager to conduct a SWOT analysis of how transitioning to TBL will affect their departments.
You work in a rewards/membership product line that offers discounts, special services, and other benefits to customers for maintaining a fee-based membership in the company’s membership rewards program. Now that the CEO has collected the SWOT analyses from all company departments, she has asked you to focus on how the TBL project will impact two cross-functional departments for your product line: marketing and sales.
To allow you to do the analysis she requires, your CEO has provided you with the following documents:
Her letter outlining the company’s commitment to CSR and its plans for using TBL
The company’s vision, mission, and values statements
The company’s triple bottom line strategies document
Two SWOT analyses: one for marketing, one for sales
The CEO wants you to use this information to create key performance indicators (KPIs) to measure your product line’s progress on meeting the company’s CSR goals.
Your CEO has requested that you develop a memo that outlines the strategic KPIs for TBL in sales and marketing. She has asked that each of the following tasks be clearly communicated in the memo, and that they be addressed in the order given.
Develop one strategic question for each element of TBL: people, planet, and profit. These questions should give insights on how to measure the sales and marketing departments’ success in achieving the company’s goals. As you develop your strategic questions, follow these guidelines: Consider how each question relates to your interpretation of the provided SWOT analyses.
Consider how each question will help achieve the CSR goals outlined in the CEO’s letter.
For your strategic questions, identify key performance indicators (KPIs) of successful strategy development and implementation. Identify at least one KPI for each strategic question you provided.
Explain how the KPIs will be measured. How will your KPIs help the company achieve its goals?
Identify functional considerations related to TBL. How does the interconnectedness of the sales and marketing departments impact the measurement of TBL?
This memo will be shared with your CEO and other stakeholders. So, please check the memo for spelling and grammar.
What to Submit
To complete this project, you must submit the following Word Document:
A KPI Strategy Memo
In a Word document, use double-spacing, 12-point Times New Roman font, and one-inch margins. This assignment should be no more than 6 pages in length and should include references cited in APA format. Consult the Shapiro Library APA Style Guide for more information on citations.
Document: CSR Initiative Letter
This document is a letter from the CEO.
Document: Vision, Mission, and Values Statements
This document contains the vision, mission, and values statements referenced in the CSR initiative letter.
Document: Triple Bottom Line Strategies
This is a document outlining the key strategies to help the organization move to a triple bottom line model.
Document: SWOT Analyses From Sales and Marketing
This document contains a combined SWOT analysis from the two departments
CSR Initiative Letter Dear Colleagues, For years, we have focused on building our business to connect consumers to the best product lines. We’ve all worked diligently to provide a unique purchasing platform and top‐notch customer service experience that keeps our customers coming back to us. Our shareholders, employees, and customers are all reaping the benefits of the value we have created. Sustaining this level of success, however, requires much more than just delivering quality products and services and being profitable. The next generation of consumers has greater expectations of the companies with which they associate. A company may have a great product or service, but if consumers don’t view the organization as socially and environmentally responsible, they will take their business elsewhere. We Will Create and Commit to a Corporate Social Responsibility Plan Therefore, we will be committing ourselves to a Corporate Social Responsibility (CSR) initiative. We have always been a company that values our customers and the communities in which we operate. For example, our yearly holiday giving program that matches your donations to a qualified charity up to $200 is an act of corporate social responsibility. We now want to extend our definition and reach of CSR to include not just charitable giving, but also efforts throughout our operations. To do this, we will be conducting a triple bottom line analysis for each product line and its strategic and operational plans to create CSR key performance indicators and measures. The Triple Bottom Line (TBL) For those for who it is new, triple bottom line (TBL) is an accounting practice that looks at more than just our profit. In addition to Profits, which of course remain essential, we also want to account for how our actions impact People and the Planet; these are the three Ps that we will look at when considering our “bottom line.” Going forward, we will consider both financial impacts and opportunities not just for profits, but for people and the planet. If we can successfully navigate this transition over the next three years, we will be among the first in our industry to do so, and this will give us the first‐mover advantage we need. Now I’d like to present some high‐level plans for addressing each of these 3 Ps. People Recall from our vision statement that we strive to “reward our customers, employees, and shareholders with the value they create.” Consumers and shareholders alike want to be assured they are doing business with companies that honor diversity and treat their employees with respect. As such, we need to focus on building a more diverse workforce and consider how we can reduce employee turnover by reexamining compensation programs and eliciting feedback on employee engagement. We also need to focus on examining new marketing channels that will enable us to build a more diverse customer base that is reflective of ABC as a global organization. Another aspect of corporate social responsibility we are committing to as part of our vision is giving back to the communities we serve. For example, we could establish programs that contribute a percentage of customer purchases to schools or to non‐profit organizations of their choosing. This turns into a win‐win for everyone by providing socially conscious incentives for people to purchase our goods and services. Planet We all know that every business leaves a footprint on the environment, whether large or small. Given the number of product lines we work with, there are tremendous opportunities for ABC to reduce its environmental impact. For example, we can explore new suppliers who are committed to sustainable packaging for our products. We can continue advancing our “go paperless” initiative. Finally, we can shift our investments toward companies that actively address root causes of environmental issues, including pollution, climate change, and loss of biodiversity. Through our website and other marketing channels, we will make our environmental consciousness known to our customers. Everyone likes a green company! Profits Traditionally, profitability has been the only measure of business success, so we’re well versed in measuring it and making strategic decisions that increase revenues while reducing expenses. Now we have the added challenge of quantifying social and environmental measures and examining how they impact traditional financial measures. Keep in mind that social and environmental goals are not diametrically opposed to profitability. While there will be some tradeoffs, we need to be creative in the decisions and investments we make to ensure we can sustain growth and profitability while meeting corporate responsibility goals at the same time. The New Bottom Line The more we can grow our business, the more we can give back! And the more we give back, the more customers we can attract. TBL will create a cycle of giving and receiving that benefits the business, the people, and the planet, and everyone at ABC Corporation will play a part! I look forward to the years ahead and seeing the contributions you will all make toward this initiative. Best Regards, Anne Hernandez CEO.
Vision, Mission, and Values Statements Our Vision (best future state) To become the global leader in business‐to‐consumer sales while producing and supporting products and initiatives that sustain the health of our people and the planet. Our Mission (credible, meaningful purpose) Provide high‐quality health and beauty products and exceptional customer service that delight customers, deliver value, and inspire loyalty. Our Values We are committed to— People: Caring for employees, shareholders, and the community. Planet: Sourcing and disposing in an environmentally friendly man
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