Does the socio-economic view detract from, or enhance, organisational performance and profits? Provide evidence to support your argument.

The economic model enhances the organizational performance and profits in the long term strategy because the organization will have developed devoted followers hence a stable customer base.

Since the model is concerned not only in the profit-making but also in the welfare of the workers and their families, the workers see themselves as a part of the organization, and this will act to increase their commitment to the company hence increasing productivity. This also acts to increase the organizational performance because the organization and the employees run together as a single unit because their goals are aligned.

The future of the organization is guaranteed as the organization, through ensuring that the future generations are cared for by the preservation of the resources, it is in extent preserving its future. Moreover, training of the workforce leads to economic and more permanent labour supply as the employees rarely leave the organisation.

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Academic.Tips. 2022. "Does the socio-economic view detract from, or enhance, organisational performance and profits? Provide evidence to support your argument." January 13, 2022. https://academic.tips/question/does-the-socio-economic-view-detract-from-or-enhance-organisational-performance-and-profits-provide-evidence-to-support-your-argument/.

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Academic.Tips. "Does the socio-economic view detract from, or enhance, organisational performance and profits? Provide evidence to support your argument." January 13, 2022. https://academic.tips/question/does-the-socio-economic-view-detract-from-or-enhance-organisational-performance-and-profits-provide-evidence-to-support-your-argument/.

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"Does the socio-economic view detract from, or enhance, organisational performance and profits? Provide evidence to support your argument." Academic.Tips, 13 Jan. 2022, academic.tips/question/does-the-socio-economic-view-detract-from-or-enhance-organisational-performance-and-profits-provide-evidence-to-support-your-argument/.

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