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    Module 1

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    Janice Yeong

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    © All Rights Reserved
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    Module 1

    Uploaded by

    Janice Yeong
    20 views3 pages

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    © © All Rights Reserved

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    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    20 views3 pages

    Module 1

    Uploaded by

    Janice Yeong

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    Module 2: Critical Thinking

    Pui San Yeong

    Colorado State University Global

    MKG310: Introduction to Marketing

    Instructor: Professor Joseph Neptune

    Mar 31, 2024


    The article emphasizes the critical need to think long-term when it comes to creating value. In
    the cut-throat world of business, it's essential to look beyond the immediate gains and focus on
    sustainable value creation. Decisions within a company should be made with an eye on boosting
    value for everyone involved, not just the shareholders. For instance, fair wages and a positive
    work atmosphere can boost productivity, which in turn could lower staff turnover and improve
    the company's financial health over time.

    The article also highlights the complex network of relationships between a company's various
    stakeholders, including employees, customers, suppliers, and the local community. All these
    groups have a stake in the company's success, so creating value effectively means carefully
    balancing their varied interests and concerns. For example, when setting prices, companies need
    to think about the long-term effects on customer satisfaction and their brand's reputation, not just
    immediate profits.

    Finally, the article acknowledges the complicated issues raised by external factors like
    environmental impact, which can extend far beyond the company's immediate operations.
    Companies need to act proactively to lessen these impacts and adopt sustainable practices that
    ensure their operations can continue over the long term. This might involve working with a wide
    range of stakeholders, including governments and investors, to create policies and initiatives that
    promote long-term environmental and social sustainability. This proactive approach not only
    helps the company's sustainability efforts but could also boost its reputation and build trust
    among stakeholders, thereby creating even more value in the future.

    Focusing on the long term is essential for sustainable growth. When companies choose to build
    value over time, they often nurture a culture of innovation and sustainability, which leads to
    consistent growth and competitiveness. Take Patagonia as an example. They designed their
    marketing strategy around environmental sustainability, attracting eco-friendly consumers and
    establishing long-lasting brand loyalty.

    Caring about stakeholders can greatly boost a company's reputation. Companies that genuinely
    look after the interests of all stakeholders usually develop stronger and more trusting
    relationships within their communities. This kind of approach can enhance the company's
    reputation, foster customer loyalty, and increase their share of the market and profits. For
    example, Starbucks has put in place initiatives to better the lives of their employees and support
    local communities. This has positively shaped their brand image and how customers perceive
    them.

    Proactively addressing external factors is also a smart way to reduce risks. Companies that take
    the initiative to deal with issues like carbon emissions are contributing to environmental
    sustainability. Simultaneously, they are reducing the risks associated with regulations and
    reputation. This strategy can safeguard long-term value for shareholders and guarantee the
    longevity of the business. For instance, energy giants like BP and Shell have put in place
    measures to reduce carbon emissions to align with environmental goals. This has lessened their
    risk of regulatory uncertainty and market volatility.

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