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Lecture 7

CCT224H5 Lecture Notes - Lecture 7: Brand Awareness, Starbucks, Corporate Social ResponsibilityPremium

2 pages41 viewsFall 2017

Department
Communication, Culture and Technology
Course Code
CCT224H5
Professor
Sam Dumcum
Lecture
7

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Week 7 Non-Financial Indicators
What are they:
Various indicators that a company uses to tell if it is doing well or not
Examples:
o Customer service
Affects customer loyalty
o Online feedback
o Social media
Trending on Twitter
Employees blogging
Social listening
o Corporate beliefs and political opinions
o Corporate social responsibility
o Ethical and environmental responsibility
Body Shop no animal testing
o Aesthetic appeal how it looks and feels
Professor R.S. Kaplan of Harvard Business School in The Evolution of Management
Accounting
“….. if senior managers place too much emphasis on managing by the financial
numbers, the organization’s long term viability becomes threatened”
Corporate Social Responsibility
What are some positions that a company has towards social, cultural, and ethical
duties?
o No animal testing
o Using green energy (renewable)
o Fair Trade
o Paying employees fairly
o Paternal/maternal leave
o Changing attitudes about diversity
LGBT
o Having suppliers who are reputable and treat their workers fairly
How do they go about outworking them?
Customer Lifetime Value (CLV)
How does the company provide customer service?
Is it creating CLV?
It is more expensive to acquire new customers than it is to retain old customers
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