For Further assistance please consult Brilliant tutorials at 0691643262
, For Further assistance please consult Brilliant tutorials at 0691643262
Introduction
Dis-Chem (2022) states that the company strives to offer quality healthcare products
and services to its customers while maintaining ethical business practices. Dis-Chem
is a leading pharmacy retail chain operating in South Africa. As a responsible
competitor, the company strives to offer quality healthcare products and services to
its customers while maintaining ethical business practices. In this assignment, we
will explore the competitive advantages of Dis-Chem, evaluate its vision statement,
and analyse its market environment using Porter’s five forces model.
Question 1
1.1 Differentiate between responsible competitiveness and irresponsible
competitiveness
i. Responsible competitiveness
According to Hatzijordanou, Bohn and Terzidis (2019) Responsible competitiveness
refers to a company's ability to compete in the market while adhering to ethical and
socially responsible business practices. This includes things like treating employees
fairly, using sustainable materials and methods, complying with regulations, and
being transparent about business operations. A company that practices responsible
competitiveness aims to create long-term value for all stakeholders, including
shareholders, customers, employees, and the environment.
ii. Irresponsible competitiveness
On the other hand, irresponsible competitiveness refers to a company's willingness
to compete in the market at any cost, including disregarding ethical and socially
responsible business practices (Adom et al., 2016). This could involve engaging in
practices such as exploiting workers, ignoring environmental regulations, engaging in
corrupt practices, and prioritizing short-term gains over long-term sustainability.
Irresponsible competitiveness may result in short-term profits, but it can ultimately
harm the company's reputation and create negative impacts on the environment and
society.
, For Further assistance please consult Brilliant tutorials at 0691643262
Introduction
Dis-Chem (2022) states that the company strives to offer quality healthcare products
and services to its customers while maintaining ethical business practices. Dis-Chem
is a leading pharmacy retail chain operating in South Africa. As a responsible
competitor, the company strives to offer quality healthcare products and services to
its customers while maintaining ethical business practices. In this assignment, we
will explore the competitive advantages of Dis-Chem, evaluate its vision statement,
and analyse its market environment using Porter’s five forces model.
Question 1
1.1 Differentiate between responsible competitiveness and irresponsible
competitiveness
i. Responsible competitiveness
According to Hatzijordanou, Bohn and Terzidis (2019) Responsible competitiveness
refers to a company's ability to compete in the market while adhering to ethical and
socially responsible business practices. This includes things like treating employees
fairly, using sustainable materials and methods, complying with regulations, and
being transparent about business operations. A company that practices responsible
competitiveness aims to create long-term value for all stakeholders, including
shareholders, customers, employees, and the environment.
ii. Irresponsible competitiveness
On the other hand, irresponsible competitiveness refers to a company's willingness
to compete in the market at any cost, including disregarding ethical and socially
responsible business practices (Adom et al., 2016). This could involve engaging in
practices such as exploiting workers, ignoring environmental regulations, engaging in
corrupt practices, and prioritizing short-term gains over long-term sustainability.
Irresponsible competitiveness may result in short-term profits, but it can ultimately
harm the company's reputation and create negative impacts on the environment and
society.
