Business Strategies For The Modern World

Business
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Trader Joe is among the longstanding American grocery store chains. Built within the fabric of the organization’s strategy is an elaborate corporate social responsibility framework. A more significant portion of the responsibility, as noted in the 2019 report, concerns sustainability and the green economy. The war against plastic in the company began in 2018 when the target was over 1 million pounds of the material. According to Trader Joe’s (2019), all the Styrofoam trays for fresh meat packaging will be replaced with recyclable PET1 trays. The report further indicates that the company will step up its campaign in this fiscal year by expanding their target to involve the eradication of 4 million pounds of plastic from all its locations across the nation.

External stakeholders value the company because of, among other reasons, its environmentally responsible business model. Sustainability is becoming a significant topic in business, giving rise to such concepts as the green economy. Consequently, customer preferences are rapidly changing to environmental conservation. All stakeholders want to associate with a company that encourages ecological protection, which is considered a modern service to humanity. This aspect means that companies like Big Joe’s have become a darling of many environmentally-conscious clients. Such an influx also comes with brand loyalty from the good reputation.

The company has directed greater efforts in trying to do good back to the environment and the society beyond just eliminating Styrofoam packaging from their fresh section. The report notes that Trader Joe’s has also managed to use compostable in making their greeting card sleeves as opposed to plastic, as well as flower bags. These flower bags, according to the company, are even more stylish than their plastic predecessors. In place of foil and plastic pouches for packaging of tea, the company now prefers to use compostable films. Moreover, the excess packaging in most Deli and Grocery items has been optimized in a manner that there is just enough packaging. Trader Joe’s (2019) reports that it has failed in certain places like removing plastic wrappings from English cucumbers. Attempting that reduced the shelf life of the cucumbers, but in that failure, they aim to research more and find a more befitting solution. This is a company that is hell-bent on conserving the environment and minding the welfare of its citizens. Needless to say, just a few companies are committed this much to the environment and its sustainability,

Trader Joe’s takes part in hunger alleviation CSR initiatives. It runs a “Birdies to Break Hunger” which seeks donations and contributes towards hunger alleviation in its immediate neighborhood. In 2019, the company partnered with some Florida Golf players to achieve this objective. As a result, it participated in food donations to Florida residents in low income areas or even those who simply need the food. This came after the company teamed up with The Red Sox to combat the hunger menace in New England.

Trader Joe’s reliability and ability to keep its promises endears it to many. As the report indicates a target to eliminate 1 million in 2018, the company targets 4 million plastics by the end of the fiscal year 2019, which is an indication that it delivered its CSR promise to its clients. All this while, Trader Joe's (2019) indicates that they have not increased their prices more than they should because they have found other ways of balancing the cost. Additionally, the company engages in direct life changing initiatives like hunger alleviation in the society where it operates. Engaging in a noble course while keeping products affordable for the clients makes it attractive and valuable for the external stakeholders.

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GradShark (2023). Business Strategies for the Modern World. GradShark. https://gradshark.com/example/business-strategies-for-the-modern-world

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