Business Higher Purpose by Imaru Josefina Arias Ramirez https://padlet.com/iarias3/1mbe8pwyb43cw6nq Business that care en-us 2021-02-25 04:15:21 UTC 2021-03-06 04:04:04 UTC hello@padlet.com Jimena Zamora a01659839 https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1260956796 Example of a company that has created shared value: Whole Foods Market.
The founder, John Mackey, has helped consumers satisfy their needs with quality natural and organic foods, creating a higher purpose and value for them, while also following a conscious way of doing business, like helping local food producers expand their businesses with the Local Producer Loan Program. Additionally, he also co-founded the Conscious Capitalism movement, believing in free market principles (Conscious Capitalism, 2021).

Corporate scandal for not following conscious capitalism nor creating shared value:
Nespresso.
Even though Nestle did supposedly create shared value for society (Vives, 2016), it was soon discovered that the coffee beans that it purchased came from child labor practices (Fahey, 2020). Additionally, the capsules that it sells its coffee in are not recyclable, and the company does little to make up for it or change it (Vives, 2016). The question for them would be if the good that it creates makes up for its unsustainability.

]]> 2021-03-02 21:59:40 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1260956796 María Castañeda a01654461 https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1261840236 Company that has created shared value:
SmartFit
Mission: Provide high quality fitness, making it accessible to everyone. Various sports clubs were already strong in the market, but their costs were unaffordable for a large part of the population. These were concentrated in the market with high purchasing power, Smart Fit focused on the middle segment, with affordable prices. In order to make fitness issues more accessible to people with physical health problems and thus help them improve their lifestyle.
Vision: With the help of the franchise model, they seek to continue promoting high-quality fitness for everyone, reaching more parts of the world where they still do not have a presence and where a market needs them. For this model, they are looking for entrepreneurs with the same purpose as them, who want to impact the well-being of more and more people through high-quality fitness; They do not need experts in gyms, in franchises, they need you to be passionate about serving, who loves their community.
Policies: monthly payments from 359 pesos, without the membership or subscription charge. When the gyms closed due to the health emergency, smart fit chose to freeze their monthly payments, taking into consideration that its market does not have the luxury of paying these monthly payments without using them.

Corporate scandal that happened because companies were not following the conscious capitalism nor the creating shared value:
Inditex stated that they were proud to generate jobs and wealth all over the world. However, it has been found that within its supply network its suppliers have illegal workshops that even employed minors with degrading working conditions. On the other hand, it has a poor organizational culture, their on store workers have protested all over the word because of their extended work hours, for not having the opportunity of flexible hours for those who are parents or students and in the same way for being given an unfair salary. Inditex has huge profits but these are not reflected in the reward given to its collaborators, in addition to being non-transparent with its clients and distorting the facts to hide its bad managment of operations from governments and its shareholders.
]]> 2021-03-03 03:24:49 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1261840236 Ji Su Park https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1261873813 Company that has created shared value:
Name of the Company: Alibaba Group
It is one of the most recognized e-commerce sites globally. From connecting buyers to sellers, the company has also been working hard to add value to the community. Alibaba has created a web mapping and navigation service called Auto-Navi with the purpose of helping economically depressed areas. The map  highlights different point of interest like small private restaurants and stores encouraging travelers to visit small towns in rural areas. This has stimulated economic growth in remote areas  (IE University, 2020). 

Corporate scandal for not following conscious capitalism nor creating shared value:
Name of the company: Foxconn (Electronics Industry Company)
The company was under inspection for worker conditions, and it wasn't the first time (Condliffe, J, 2018)
-Many workers committed suicide
-Illegal and Underage workers
-Big Accidents
-Wage and Hours Exploitation

]]> 2021-03-03 03:39:08 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1261873813 Adriana Jaimes Guerra a016597831 https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1261889504 Company that has created shared value:
COSTCO
The key of Costco's success relies on their ability to move their inventories quickly, selling only what buyers want in quantities that allows  them to get the lowest prices. Not to mention, the incredible management Costco has when it comes to workforce; efficiency is an important factor for the comapny's success in order to achieve that ,the company cares for their long term experienced employees looking at them as their asset for their efficiency and success. At the same time, Costco is very participative in charitable giving in the communities they are present in.
Customers can feel good knowing that its low prices that aren't coming at the cost of its employees' biweekly paycheck.

Corporate scandal for not following conscious capitalism nor creating shared value:
Volkswagen
The news came in Sept 2015, when environmental protection agencies ordered the company to recall 482,000 diesel passenger cars sold in the United States.
Researchers discovered that a number of Volkswagen models were emitting illegally high levels of poisonous nitrogen oxides, and that the polluting vehicles contained illegal software that could detect when the cars were being tested and change the performance to pass the emissions tests. 
According to a study published in Environmental Research Letters, 59 premature deaths will result from the excess pollution of illegal VW cars in the United States alone.]]> 2021-03-03 03:46:48 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1261889504 María Fernanda Castro Domínguez https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1261896448 Company that has created shared value:
+ Name: Adidas
Adidas is associated with an organization which is focused on microfinances. It belongs to the nobel price of Muhammad Yunus. They are in charge of producing shoes at low costs and being able to donate them to the poor people in Bangladesh with the purpose of helping their needs.
Corporate scandal that happened because companies were not following the conscious capitalism nor the creating shared value:
+ Name: Volkswagen
Many people are familiar with this brand of cars but there was a very big fraud with which they had to pay a fine of approximately 18.2 million dollars. This was a result of the manipulation of car engines to deceive people and their brand promoted what it is known as eco-friendly.

]]> 2021-03-03 03:50:33 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1261896448 Mónica D. Mondragón https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1261934495 Company that has created shared value:
Bank of America
It has been recognized because of their support on environmental initiatives. They even began a program to help businesses move forward and innovate on renewal energies, therefore attracting more customers. Since 2013, their so called "green bonds" project has raised $442 billion, connecting investors with businesses working to foster the renewables revolution. This has also added a new profitable area of business to their company. (IE University, 2020).
Corporate scandal that happened because companies were not following the conscious capitalism nor the creating shared value:
Volkswagen
The Volkswagen case represents above all an absolute failure in terms of Social Responsibility.  Volkswagen decided that it didn’t matter if their cars poisoned the planet by emitting 40 times the legal limit of nitrogen oxide, as long as doing so allowed it to become the world’s leading car maker. (Dans, 2015).

References:
University. (2020, September 15). 5 businesses that are creating value for society. Retrieved March 03, 2021, from https://drivinginnovation.ie.edu/5-businesses-that-are-creating-value-for-society/#:~:text=1.,map%20service%2C%20Auto%2DNavi.
Dans, E. (2015, September 28). Volkswagen And The Failure Of Corporate Social Responsibility. Forbes. https://www.forbes.com/sites/enriquedans/2015/09/27/volkswagen-and-the-failure-of-corporate-social-responsibility/?sh=2dcda7014405


]]> 2021-03-03 04:11:47 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1261934495 Fernando Gorráez https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1263558162 Company that has created shared value:
Facebook

Vaccine misinformation has been around since well before the pandemic, but ensuring that anti-scientific conspiracies don’t get boosted online is more crucial than ever as the world races against the spread of a deadly, changing virus.


Now, Facebook says it will expand the criteria it uses to take down false vaccine claims. Under the new rules, which Facebook said it made in consultation with groups like the World Health Organization, the company will remove posts claiming that COVID-19 vaccines aren’t effective, that it’s “safer to get the disease” and the widely debunked longstanding anti-vaxxer claim that vaccines could cause autism.

Corporate scandal that happened because companies were not following the conscious capitalism nor the creating shared value:
Facebook was ordered to pay $650 million Friday for running afoul of an Illinois law designed to protect the state’s residents from invasive privacy practices.

References
TechCrunch is now a part of Verizon Media. (s. f.). Facebook will pay $650 million to settle class action suit centered on Illinois privacy law. Recuperado 3 de marzo de 2021, de https://techcrunch.com/2021/03/01/facebook-illinois-class-action-bipa/
TechCrunch is now a part of Verizon Media. (2021, 8 febrero). Facebook says it will remove more COVID-19 conspiracies that discourage vaccination. https://techcrunch.com/2021/02/08/facebook-vaccine-misinformation-policy/
]]> 2021-03-03 13:23:28 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1263558162 Eduardo Santos a01653961 https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1263756842 Company that has created shared value: H.J. Heinz
Heinz has launched a micronutrient campaign to combat the threat of iron-deficiency anemia and vitamin and mineral malnutrition among infants and children in the developing world. More than five million children in 15 developing countries have received sachets of vitamin and mineral powders that have been approved by UNICEF and the World Heath Organization as a cost-effective treatment for iron deficiency. Remarkably, at a cost of a little more than two cents per sachet, a child’s micronutrient needs for a year can be met for an annual total of $1.50.

Corporate scandal that happened because companies were not following the conscious capitalism nor creating shared value: Robinhood App
Robinhood is a stock brokerage app that allowed almost anyone to invest in the stock market. Ever since January-February when a bunch of Reddit users decided to pump up the price of GameStop stock to hurt hedge funds was when Robinhood prohibited trading in order to protect these big companies from getting any financial losses. This goes against their values and mission which is to make investing easy and accessible for everyone. Now Robinhood is facing a class action lawsuit from all these day traders who use the app on a daily basis because it is clearly that market restrictions go against the free market ideals.

]]> 2021-03-03 14:02:34 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1263756842 Marien Jaume Castro https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1263891746 Company that has created shared value:
Name of the company: ABB
The Swiss-Swedish multinational robotics company based in Zurich has, since 2015 installed 7,000 charging stations around the globe, which promotes the use and growth of electric cars. They will continue with initiatives that add value to society (and their profit margin), with a plan to install hundreds of new charging stations in the US in the coming years.

Corporate scandal that happened because companies were not following the conscious capitalism nor the creating shared value:
Name of the company:  Sears
 Sears has been known to use sweatshop labor for years, but the clothing retailer isn’t alone. What they are, however, is heartless. In 2012, one of the Bangladesh factories that they outsource to exploded in flames and 112 workers were killed. That’s not the worst, however. When it was discovered that one of the Samoan factories that Sears uses abuses its workers, the company did nothing. The factory employees receive only about $500 for working nine months — yes, just $500 for the entire nine months — and their pay is frequently cut at the whim of management. The workers are forced to live in the factories because of their working hours, and over 250 of them share just two pounds of chicken total at mealtimes. Complaints from the workers about their treatment often results in the electricity being shut off and temperatures in the factory rising to dangerously high levels. 


References

IE University. (2019, 5 junio). 5 businesses that are creating value for society. IE Driving Innovation. https://drivinginnovation.ie.edu/5-businesses-that-are-creating-value-for-society/

Parker, G. (2020, 8 abril). 5 Huge Companies Known For Implementing Horrific Working Conditions. Money Inc. https://moneyinc.com/5-huge-companies-known-implementing-horrific-working-conditions/


]]> 2021-03-03 14:24:48 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1263891746 Regina Pérez Palomar https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1264510700 Company that has created shared value:  
Name: AstraZeneca
Health is their business and how they contribution to the society. They operate supports sustainable ecosystems for healthcare that benefit people and the planet through science-based innovation.
They have a sustainability strategy that is built around three pillars that put health at the heart of their work beginning with Access to Healthcare. As a global company, they seek to leverage their reach, scale and expertise to effect real change in 16 sustainability issues. Their efforts in this subject go beyond meeting their annual and longer-term targets. AstraZeneca continually evolve their mindset and their practices to meet changing times.

Corporate scandal that happened because companies were not following the conscious capitalism nor the creating shared value:
Name: Shein
Shein is one of the fastest growing online fast fashion retailers. Fast fashion creates cheap, mass-produced clothing articles that are modeled on celebrity or high-end fashion trends. The clothes are not made to be long-lasting and can usually only be worn a few times before deteriorating. The industry is incredibly harmful to the environment, with fashion being the second most polluting industry in the world. Also, they have had various scandals on their labour force they use, claiming that they exploit their employees and not giving the enough money for the amount of time they work as well as hiring children. 


References: 

AstraZeneca. (n.d). Our sustainability ambition. Retrieved from: https://www.astrazeneca.com/sustainability.html

Farhat, R. (2020). Shining A Light On Shein’s Unethical Labor Practices. Retrieved from: https://studybreaks.com/thoughts/shein-unethical-practices/


]]> 2021-03-03 16:06:19 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1264510700 Mariana Morales https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1264712229 Company that has created shared value: 

- Nutrition: Providing nutritious products that offer real health benefits to all consumers and making such products more affordable and accessible through innovation and partnerships.

- Water: Protecting scarce water resources and promoting more efficient use of water in manufacturing and sourcing processes in ways that also benefit others in the supply chain.

- Rural development: Supporting the development of farmers in rural areas where the raw materials the company uses are grown, ensuring continued access to quality inputs and strengthening the customer base.

Corporate scandal that occurred because the companies did not follow conscious capitalism and shared value creation:

In September 2014 an article on value extraction by companies "Profits without prosperity" was published. It analysed the use of corporate profits to buy back their own shares instead of contributing to the prosperity of society through long-term investments. What the author calls value extraction as opposed to value creation: profit without prosperity.

References: 

From Bogotá, C. D. C. (2015). Nestle case - Shared Value Award.

Corredor, A. D., Escobar, J. V., & Terraza, L. M. (2018). From Corporate Social Responsibility (CSR) to Creating Shared Value (CSV): A critical reflection on the two concepts. Aglala, 9(1), 263-285.]]> 2021-03-03 16:39:26 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1264712229 Mariana Rodríguez Ronquillo a01654531 https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1265155181 Company that has created shared value:  
Name: Weight Watchers
Is a global company based in the US that offers various products and services, including weight loss and maintenance, fitness and mindset, such as the Weight Watchers whole diet program.

Corporate scandal that happened because companies were not following the conscious capitalism nor the creating shared value:
The giant diet company Weight Watchers is caught up in a shocking scandal involving a nutrition expert who charges that the idea of losing pounds by dieting is a sham!
"Compagnies like Weight Wacthers sell you idea that your life will become a whole lot better if you join them, " claims Susie Orbach of Anybody, a 20-member group that believes dieting is dangerous to your health. "What they don't tell you is that dieting ruins your metabolism.
"People should eat when they are hungry and stop when they are full. Our message is that diets don't work."
She says, "We intend to represent thousands of women and men who have paid hundreds of dollars to Weight Watchers only to find they have ended up fatter than before they embarked on its program."
"We've been offered the services of lawyers, " she says. "And there are lots of disgruntled ex-members of Weight Watchers who want to offer financial support.
Although Orbach claims that up to 97 percent of Weight Watchers clients regain any weight they lose, that's not Fergie's experience. The flame haired royal, who had a weight problem in the past, has claimed in commercials that she lost more than 30 pounds in four months under Weight Watchers and is now a size 10.
Name: Weight Watchers
References:
https://drivinginnovation.ie.edu/5-businesses-that-are-creating-value-for-society/
http://www.missplump.net/affection/actual/dec02b.htm
]]> 2021-03-03 17:53:55 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1265155181 Roberto Carrillo Name https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1266317901 Company that has created shared value: Walmart

Walmart is a multinational corporation of American origin stores, which operates chains of discount department stores and warehouse clubs. It was founded by Sam Walton in 1962, incorporated on October 31, 1969, and has been listed on the New York Stock Exchange since 1972.

Shared Value is the Walmart Approach to Global Responsibility. Whole-system change. Working with others, Walmart aspires to reshape whole systems to achieve significant and lasting improvement in social, environmental and economic outcomes.

Corporate scandal that happened because companies were not following the conscious capitalism nor the creating shared value:
Walmart has agreed to pay $282 million to settle a seven-year bribery investigation by the U.S. government concerning certain payments that were made to foreign officials in places like Mexico and China.
The Securities and Exchange Commission said on Thursday that it had charged the world's largest retailer by sales with violating the Foreign Corrupt Practices Act (FCPA), which makes it unlawful for companies to bribe foreign officials.
In a news release, the SEC said that Walmart allowed third parties in Mexico, China, Brazil and India to make payments to foreign government officials without ensuring that they complied with the FCPA. “Walmart valued international growth and cost-cutting over compliance,” said Charles Cain, who heads the FCPA unit at the SEC. “The company could have avoided many of these problems, but instead Walmart repeatedly failed to take red flags seriously and delayed the implementation of appropriate internal accounting controls.”


References:
https://corporate.walmart.com/our-story/our-business

https://www.forbes.com/sites/laurendebter/2019/06/20/walmart-will-cough-up-282-million-to-put-years-long-bribery-investigation-behind-it/?sh=5d8508ae4ac5

]]> 2021-03-03 22:29:04 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1266317901 Daniela Gutiérrez Castañeda a01653854 https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1266659523 Company that has created shared value: Alibaba
Alibaba is one of the best-known e-commerce sites in the world. Along with the massive platform connecting buyers to sellers, the company is working to add value to the community through an advance in its popular map service, Auto-Navi.
In 2019, Alibaba added a feature to the service to entice users to travel to economically depressed areas. The “poverty alleviation map” highlights different points of interest, like restaurants, gas stations, and stores, prompting travelers to visit small towns in the countryside.
The feature not only adds value to Alibaba’s map app, it also creates opportunity for economic growth in remote villages, which may have otherwise been overlooked.

Corporate scandal that happened because companies were not following the conscious capitalism nor the creating shared value: Pineda Covalin
The fashion company Pineda Covalin has been accused on several occasions of plagiarizing indigenous designs and embroidery on their garments and selling them at very high prices without giving the corresponding royalties to the artisans, nor collaborating with them, they only copy their designs and reproduce them on your garments. Although none of the designs of the indigenous communities is registered under copyright, this is because the knowledge about embroidery and designs is passed from one generation to another between the communities and is a sign of distinction between each town . For them, there is no Western idea of intellectual property because the knowledge belongs to the community, so it is an extremely dishonest practice for this brand to take advantage of it even knowing the situation.

References:
IE University. (2019, 5 junio). 5 businesses that are creating value for society. IE Driving Innovation. https://drivinginnovation.ie.edu/5-businesses-that-are-creating-value-for-society/
A. (2018, agosto 16). México denunciará a las marcas internacionales que plagian diseños indígenas. infobae. https://www.infobae.com/america/mexico/2018/08/16/mexico-denunciara-a-las-marcas-internacionales-que-plagian-disenos-indigenas/
]]> 2021-03-04 00:55:24 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1266659523 Samantha Yael González González a01660298 https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1270878947 Company that has created shared value: Coca-Cola FEMSA
Coca-Cola FEMSA, committed to evaluating its suppliers' sustainability practices, awarded Tetra Pak as a High Performance Provider within the Sustainable Sourcing Program through its actions in recycling and environmental care. Since 2015, Coca-Cola FEMSA has held an annual forum in which it awards companies with which it collaborates and that have a high performance in their social and environmental practices. Due to the contingency by COVID-19, this year the event was held remotely on November 18 and the 4 winning projects were announced, among the more than 140 invited companies. Thanks to its performance in recycling, environmental certifications and low carbon circular economy actions, the leading food packaging and processing company Tetra Pak was noted for being the best responsible consumption option and lowest environmental impact.
Corporate scandal that happened because companies were not following conscious capitalism nor the creating of shared value:This time repeats scandal: misleading advertising. A us consumer group has filed a lawsuit against the company for considering that its 'Enviga' drink, touted as a 'calorie-burning' product, does not produce this slimming effect on the body. The Washington-based 'Public Interest Science Group'  alleges that the multinational has committed falsity in arguing with scientific arguments that this drink is supposed to be calorie-consuming. Coca-Cola announced the launch of this new product, which accelerates metabolism and, supposedly, energy consumption. Specifically, the company claims that consuming three cans would cause a normal, unweighted individual to burn between 60 and 100 calories. But the group of consumers, who have tested the product, claims quite the opposite, and argues that the drink causes a slowdown in metabolism, and therefore fewer calories are burned, no more. "A person needs to burn 3,500 calories to lose a pound (454 grams)," demand states, implying that, at best and under Coca-Cola's theory, a person  should ingest 100 cans of 'Enviga' for 35 days, at a cost of $146, to lose a pound."
References:
Agencias. (2014). ’ Coca-Cola, la gran multinacional de bebidas gaseosas no para de dar titulares. En esta ocasión repite escándalo: publicidad engañosa. Un grupo de consumidores de EEUU ha. 04/03/2021, de El Confidencial Sitio web: https://www.elconfidencial.com/alma-corazon-vida/2007-02-07/nuevo-escandalo-de-coca-cola-por-su-falsa-bebida-quema-calorias_585994/
Valor Compartido. (2020). Coca-Cola FEMSA reconoce a Tetra Pak por sus iniciativas en reciclaje y proyectos sostenibles. 04/03/2021, de Valor Compartido Sitio web: https://valor-compartido.com/coca-cola-femsa-reconoce-a-tetra-pak-por-sus-iniciativas-en-reciclaje-y-proyectos-sostenibles/

]]> 2021-03-04 19:17:13 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1270878947 José Ángel García Medina https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1271374077
  •  BMW´s "MBW Guggenheim Lab" is an example of shared value:
    • This program establishes a social purpose for BMW that could help address the exclusiveness/elitism of the “Ultimate Driving Machine”. It´s a proyect consisting of a mobile laboratory that will travel to nine major cities worldwide over six years. Direected and managed by a intercultural and interdiciplinary team of emerging talents , the Lab will address issues of contemporary urban life through programs and public discourse. The goal is to explore and experiment with new ideas to create forward-thinking solutions for urban life.
     
         2. Corporate scandal 
    The Enron scandal is one of the most famous corporate scandals of all time.

    It started in early 2001, when analysts questioned the accounts presented in the company’s previous annual report. These accounts used irregular procedures, which made it difficult to work out how the company was making money. Even though it apparently had a foothold in energy, commodities and telecoms among other industries. The SEC began to investigate and discovered that Enron was hiding billions of dollars in liabilities through companies it controlled, which made it look profitable even though it was actually losing tons of cash.

    The company’s share price fell from $90.56 to under a dollar during the crisis , with Enron forced to file for what was then the biggest chapter-11 bankruptcy in history. Many workers lost their pension funds and many more lost their jobs when it disappeared.


    ]]>     2021-03-04 21:16:54 UTC https://padlet.com/iarias3/1mbe8pwyb43cw6nq/wish/1271374077