School Papers

Scenario our stakeholders’ (investors, the public, employees and

Scenario Our sales company’s CEO based on his own idea concluded that male workers win more sales in general, compared to women due to the social point of view in the media. The media affects our business; women performance in work is as good as men. For example, two sales managers, different gender working in a sales agency performing same sales record without segregation of labour market but the women get lesser commission due to gender discrimination. Besides, married women may have a thought of being a housewife for the sake of the children instead of working as their husbands earn more compared to them. Furthermore, women who finished their higher education studies instead of taking a long time to pay the student loan compared to men due to low salary, they might switch to a better-paying salary company to settle the loan as early as possible which affects our business. Our trained experienced employee may flee and our company may need to recruit new staffs which spend more money, time and effort. However, if all female employee strike over inequitable of salary, our company might lose our brand, customers, suppliers, especially the share price will drop drastically overnight.The methods that our sales company can be used in order to rebuild our stakeholders’ (investors, the public, employees and suppliers) trust as at below:InvestorsInvestors act as an important role for our sales company, as they provide financial support for running our business activities. Due to our sales company’s issues of unequal treatment between gender is being revealed, hence it gives a great impact on the investors since they might have a downsizing of return due to lacking sales. As a result, investors will stop investing our company, hence we will suggest some ways to rebuild our investors’ trust.First, we can rebuild our investor’s trust by amending our sales company’s corporate social responsibility. According to the thesis conducted by Lipponen in 2013, we can found out that there is some socially responsible investors will be more concern on the corporate social responsibility. Since the issue here directly affects our role as a corporate citizen as we did not provide a workplace with gender equality for our employees, hence we can amend it by giving women more opportunities to be involved in decision making or important roles to show the investors what we manage to change. If our sales company manage to get an award from the Ministry of Women, Family and Community Development in the future because of this amendment will be a boost to rebuild the trust of the investors.Besides, we need provide a strategy that can secure our investors’ wealth in order to rebuild the trust of the investors. By providing the strategy to the investors, we are required to have good communication skills in order to influence the investors. One of the strategies that we suggest includes securing the public’s trust since our company’s profit is depending on the public. As more profit that our sales company earned, the more return that the investors can receive. Reference:Lipponen, E 2013, ‘CSR in investor relations: Socially responsible investors and shareholder engagement’, School of Business, Aalto University, viewed 16 January 2018, .The Public     The relationship between our sales company and the public are crucial. As the public’s response will affect the reputation and brand loyalty of our sales company, they will affect our sales directly. Hence, our sales company will lose confidence from both our suppliers and investors. Since the main reason that we are facing now is the unfair treatment of female and male employees, hence we will suggest some ways in order to regain the public’s trust.     Firstly, our sales company should provide more opportunities to our current female employees. Actions speak louder than words, since our company knows what is the main problem facing, and a reasonable explanation is useless to solve this problem, hence we have settled the problem directly by action. By giving more opportunities to the female employees, our sales company can gather the female customers’ feedback for our products, as some of the female customers will be more comfortable to provide feedback to the saleswomen rather than the salesman. Although it takes time to recover the reputation of our sales company, however, time passes by we can still regain our reputation. Besides, while our sales company providing some amendment for our strategy, we can update our sales company’s activities on social media. Like most of the companies, frequently updating their activities with relevant photos on their official Facebook page or Twitter account in order to attract graduates or undergraduate students for entering their company to work or intern. We can use the social media to prove that we are giving our female employees more opportunities than before. Since the post on our activities can spread effectively in social media, as a result, the public recognizes our effort to change, then we can regain our trust from the public.EmployeesEmployees are one of the core stakeholders of a business. The problem in this situation is, there is an unfair treatment among female and male employees due to male employees win more sales. This situation can cause female employees do not do their best in company work due to the CEO subconsciously think a female will not make more sales compare to male because of the general public takes men more seriously. And they will have a judgement on no matter how they work seriously to their work, the company will not admit their effort due to the management subconsciously think and general public opinion. To rebuild trust with employees, we should stop unbiased treatment among female and male employees. Management should not judge their effort merely base on the sales but also their performance. The commission payable to the employees should depend on the performance and working attitude of the employees. Apart from that, we should treat employees similarly and do not have sex discrimination. We should stop the gossip in our company by treating female employees same with male employees. We cannot pay female employees less commission just merely because the public takes men more seriously. Besides, our company can set a different target for male and female employees. Both female and male employees are experts in different sectors. Therefore, our company cannot disaffirm their effort to our company. In addition, our company should allocate work base on their expertise appropriately. For example, female employees are more careful in observing customer expression, however, male employees are more expert in selling eloquence, and company can affirm one female employee partner with a male employee. The sales commission is based on both personal effort and pays equally.SuppliersRebuilt trust with suppliers is a difficult task. First, we must know the reason what is the reason we need to rebuild the trust that was once broke. For example, the supplier supplies wrong inventory levels information, point-of-sales data, and market trends that bring significant damage to the company or the company owe the supplier and unable to pay in time might be the source of the problem. We will try to start a comfortable conversation and discuss the misunderstanding between us without judging the suppliers to find the root of a problem. Trust takes time and patience, once broken it was unfixable. In order the gain trust from the supplier, we start by trusting the suppliers first after the conversation ends and give the suppliers the authority to decide the best way or method to manage our raw material, work-in-progress goods and finished goods installation if the issue arises due to the supplier’s workers were accused of inventory damage and we will have our staffs to do the observation processes. We will further review the decision made by comparing the damages of inventory we had using 3 consecutive years of the financial statement. Furthermore, we will also use our leadership skill to demonstrate to the supplier our company needs and requirements to satisfy customer to help the supplier to understand better about our company goal. Sincerity speaks all. In reality, we will be using a different method of communication towards different supplier such as strictly transaction-based communication is used when we are trying to make an improvement on a supplier projects. Next, tactical relationships communication will be used when we are having a conflict of interest with the suppliers while strategic partnership communication is used to revive a distressed relationship. These 3 methods are able to rebuild the trust of suppliers. (Henna 2014)References:Henna, I 2014, Three Steps To Rebuild Trust, viewed 14 January 2018, .

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