Byte Products, Inc.

864 Words2 Pages

Byte Products is a leading manufacturer of specialized electronic components used in computers for business and engineering. With their main headquarters located in the Midwest, they are the largest volume supplier with 32% of the market and an industry leader with annual sales of $265 million and for the last six years sales have been increasing every year an average of 12%. Operating at its maximum capacity, Byte has three facilities in the United States and they are all running three 8 hour shifts, 24 hours a day. The increasing demand for the computer components, has created an immediate need to increase production but Byte lacks the physical space to do so. With competitors entering the market due to high profit margin and consumer demand, Byte fears that buyers will go elsewhere if the demand is not available. THESIS…..
Strategic Alternatives
Stakeholders
Stakeholders are those that have an interest in the business and are directly or indirectly affected by the success of the company’s objectives. In any one strategic decision, the interests of one stakeholder group can conflict with those of another. Analysis of the company’s relations with its stakeholders, provides conclusions based on how Byte engages in corporate social responsibility. Specific stakeholders of focus are on employees, customers, government, suppliers, shareholders, community, and competitors.
Employees
In relation to corporate social responsibility, the employees of Byte Products Inc. are affected directly by the operations of business. In the expansion of the company to meet market demands, Byte’s employees carry out a significant role. Without their initiative and drive for success, the company would not be able to provide electronic components at a re...

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...g a solution to maximize demand, than by the impact of closing the plant in three years for the Plainville community and stakeholders.
Milton Friedman’s traditional view of business addresses that the responsibility of a business is to solely maximize profit. He believes,
“There is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud” (Wheelan & Hunger, 2012, p. 72).
Byte Products, Inc. is an example led by Friedman’s theory because its main priority is to maximize profit, by increasing the supply of computer components. Byte is not concerned with the hardships the community of Plainville will encounter if the temporary plant is left abandoned in three years.

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