Co-creating New Social Business - Case Study Example

Co-creating New Social BusinessConduction of business has completely been revolutionized. Most companies are readjusting with the sole aim of increasing their profit margin in the long term. Companies or firms that are short term oriented in achievement of their goals have had to modify their strategies so as to fit in with the climate of trends in the competitive market. If anything, they say if you don’t shape up, you will have no option but to shape out (Brugmann & Prahalad, 2007). In our society today, there are calls for corporate social responsibility.

These responsibilities are geared towards environmental sustainability and social responsibility. In some countries legal constraints have been embedded in their laws where companies are held responsible for actions contravening set rules and regulations on social responsibility and sustainability (Brugmann & Prahalad, 2007).In adherence to the above, one of the striking strategies employed by companies is the conceptual analysis. In conceptual analysis, companies are required to provide quality value based services and sustainability approaches to ecological sense as well as business sense.

Provision of value based services entail responding to customers’ expectations and satisfying their needs. However, this does not necessarily mean companies have to conform to customers’ thoughts, wishes and perception. Value based organizations are more attractive to customers and employees are normally motivated (Brugmann & Prahalad, 2007). On the other hand, sustainability approach is on very many dimensions. Some of these dimensions are ethical, economical, nature philosophical, and social.

Ethical dimension dictate the moral relationship that are used to define the future ways of doing business and social dimension are geared towards social justice within the society. As for nature philosophical and economical dimensions, the vulnerability of nature is presumed by limiting its degree of interference for future generations while in the economic sense theories and practices are used to create awareness on sustainable development (Brugmann & Prahalad, 2007).ReferenceSocial Sustainability: Cocreating Businesss New Social Compact, Harvard BusinessReview (2007), Brugmann, J.

, & Prahalad, C. K., Feb 2007, Vol. 85 Issue 2, p. 80-90.