{"id":5,"date":"2022-01-14T23:46:47","date_gmt":"2022-01-14T23:46:47","guid":{"rendered":"https:\/\/blogs.oregonstate.edu\/bostrome\/?p=5"},"modified":"2022-01-14T23:46:47","modified_gmt":"2022-01-14T23:46:47","slug":"mgmt-449-week-2-discussion","status":"publish","type":"post","link":"https:\/\/blogs.oregonstate.edu\/bostrome\/2022\/01\/14\/mgmt-449-week-2-discussion\/","title":{"rendered":"MGMT 449 Week 2 Discussion"},"content":{"rendered":"\n

Patagonia is an American clothing company that primarily sells outerwear. Patagonia is an interesting company in that they believe their business operations should truly reflect their values and impressive corporate social responsibility. Their mission statement used to be to \u201cBuild the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis\u201d. They recently changed it to the more concise and intentional “We’re in business to save our home planet”. An example of how they apply their values to businesses operations, for black Friday they advertise against buying their clothing. Instead, they recommend that people repair the items they already own. Patagonia’s competitive strategy lies in it’s innovative values and operations that reflect them. On the company’s website they have extensive amounts of information about their values, initiatives, and approaches to different aspects of business. <\/p>\n\n\n\n

\"Patagonia:<\/figure>\n\n\n\n

Patagonia was one of the founding members of the Fair Labor Association, so part of their approach to compensation is to pay a fair living wage to every worker. To ensure this, they work directly with factories to guarantee a living wage for all of the workers who make their clothing. This aspect of their compensation package definitely supports their competitive strategy. I think the more their values reflect in their operations the more it supports their competitive strategy to be the brand that people want to buy from. Another component of their compensation package that supports their business strategy is their support and commitment to families. Company paid health care, sick days, paternity and maternity leave, as well as on site childcare are some of these benefits. Patagonia believes that work shouldn’t interfere with any aspect of an employee’s personal life, and their approach to compensation reflects that. They are able to afford some of these benefits for employees because they save so much money on employee retention and engagement. I think this reflects their competitive strategy because their model is designed in part to make and keep employees happy. Patagonia offers more than just core compensation and employee benefits. There are other more informal benefits such as flexible work schedules, free yoga, healthy organic food on site. <\/p>\n\n\n\n

\"10<\/figure>\n\n\n\n

The way that the labor market is trending only compliments the effectiveness of Patagonia’s compensation practices. People want to buy from sustainable and ethical retailers more than ever before. During the pandemic they were one of the first businesses to close and one of the last to reopen. When they closed they promised to pay all employees their r<\/a>egular wages. This impressive example of a corporation paying its employees fairly is reflective in their financial success. Patagonia was ahead of its time. The way the labor market and their product market are trending compliment their policies and operations perfectly. <\/p>\n","protected":false},"excerpt":{"rendered":"

Patagonia is an American clothing company that primarily sells outerwear. Patagonia is an interesting company in that they believe their business operations should truly reflect their values and impressive corporate social responsibility. Their mission statement used to be to \u201cBuild the best product, cause no unnecessary harm, use business to inspire and implement solutions to… Continue reading MGMT 449 Week 2 Discussion<\/span><\/a><\/p>\n","protected":false},"author":12060,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"_links":{"self":[{"href":"https:\/\/blogs.oregonstate.edu\/bostrome\/wp-json\/wp\/v2\/posts\/5","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.oregonstate.edu\/bostrome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.oregonstate.edu\/bostrome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.oregonstate.edu\/bostrome\/wp-json\/wp\/v2\/users\/12060"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.oregonstate.edu\/bostrome\/wp-json\/wp\/v2\/comments?post=5"}],"version-history":[{"count":1,"href":"https:\/\/blogs.oregonstate.edu\/bostrome\/wp-json\/wp\/v2\/posts\/5\/revisions"}],"predecessor-version":[{"id":6,"href":"https:\/\/blogs.oregonstate.edu\/bostrome\/wp-json\/wp\/v2\/posts\/5\/revisions\/6"}],"wp:attachment":[{"href":"https:\/\/blogs.oregonstate.edu\/bostrome\/wp-json\/wp\/v2\/media?parent=5"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.oregonstate.edu\/bostrome\/wp-json\/wp\/v2\/categories?post=5"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.oregonstate.edu\/bostrome\/wp-json\/wp\/v2\/tags?post=5"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}