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Lecture 7

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

Communication, Culture and Technology
Course Code
Sam Dumcum

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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
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
“….. 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
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
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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