MGM626-0902A-03 Economics for Decision-Making - Phase 3 Discussion Essay

MGM626-0902A-03 Economics for Decision-Making - Phase 3 Discussion Board - Essay Example Price elasticity will be elastic if a change in price causes a proportionately higher change in demand, i.e., the price elasticity of demand will be greater than 1. Hence a unit change in price will cause a change in demand which is larger than one unit. Inelastic price elasticity is where a change in price causes a proportionately smaller change in demand. In this case the value of price elasticity will be lesser than 1, i.e., a unit change in price will cause a change in demand which will be lesser than one unit. Unitary price elasticity is a case where the quantity demanded changes in proportion to the change in price, i.e., the change in price is equal to the change in demand. Hence the value of unitary price elasticity, as the name indicates, is 1. The reasons for the price elasticity being higher in the Brazil market can be analyzed and researched to find any possible alteration or substitute to the product that will reduce the price elasticity. Also, the trend of the currency exchange rate of Real to Euro over can be analyzed to predict the future values. This will indicate the potential revenue in Euro that can be earned from Brazil market and give a clear indication whether the venture will be profitable. Also, the prices in Real can be set in such a way that would attract more customer base and when the currency is exchanged, the company earns a significant profit

Corporate Social Responsibility and the Company Essay

Corporate Social Responsibility and the Company - Essay Example It is for this reason that the company has stated emphatically that â€Å"over the past year, our company has delivered on my challenge to "broaden and accelerate" our commitment to sustainability† (Duke, 2011). As a matter of fact, corporate social responsibility cuts across several sectors of society and of a company though it has mostly been mistaken to be the benefit that society alone gets from a company. To a large extent, â€Å"Corporate social responsibility is about how businesses align their values and behavior with the expectations and needs of stakeholders including suppliers, communities, regulators, special interest groups and society as a whole† (CSR Network, 2011). Wal-Mart has been guided by this realization to ensure that social satisfaction is created not only for customers and investors but also to all other leading stakeholders. Specific mention can be made of some of milestones reached in the corporate responsibility business for Wal-Mart. To show integration of the social responsibility commitment, Wal-Mart has matured from a stage where corporate social responsibility was seen as a philanthropic add-on to a level where its corporate social responsibility pivots around â€Å"responsible consumption" and creation of "shared value†. ... This report seeks to elaborate on the Wal-Mart's Sustainability 360 approach. Wal-Mart's Sustainability 360 approach (The Slow Greening of Wal-Mart) Carbon emission has been identified to have adverse effect on humans and other living organisms. It also has unfavorable effects on other non-living components of the environment and threatens an ill-resourced future. In a report by PwC in advance of the Stern Review report published in the UK on 30 October 2006, it was documented that the effect and result of carbon emission could be more than doubling by 2050 (PwC, 2006). In most cases, when calls for carbon emission reduction are made, accusing fingers are quickly pointed to manufacturers and industrialists. One may therefore think that Wal-Mart has taken up carbon emission campaign because the company is a retailer and not directly involved in carbon production. This argument is however not justified because as a retailer, Wal-Mart deals directly with manufacturers and producers and therefore has every moral authority to campaign for a greening environment. Wal-Mart therefore targeted carbon emission as one of the component aspects of the Wal-Mart Sustainability 360 project in a program dubbed Slow Greening. In the Slow Greening Project, the company’s target is its suppliers as Roner (2007) notes that â€Å"the company’s suppliers will now be asked to measure and report the energy used to make and distribute its products.† This means that the Slow Greening Project is dedicated to both carbon emission reduction and energy efficiency and therefore very suitable for the Sustainability 360 Project. In championing the campaign, the symbol has been associated with the Slow Greening. The symbolism here is that