Thursday, November 21, 2019

Case Summary Essay Example | Topics and Well Written Essays - 500 words - 2

Case Summary - Essay Example Another feature is that shoes are customized as per specific fitting and color needs of the children. TOMS Shoes is expanding its community involvement program in another product, eye glasses, in collaboration with Seva Foundation on the same lines, as in the sale of shoes. For every eye-glass sold, a new pair will be given free to the needy children in poor countries. Tom Shoes has been criticized for affecting the sale of local companies. TOMS Shoes has not been transparent enough in reporting the financial details of the company to justify its stance that it is leading to fulfill its corporate social responsibility. Local businesses are the most effected stakeholders. Rather than encouraging local shoe manufacturing industry and creating new enterprise potential, TOMS Shoes is going against their interests. Instead of helping local businesses over how to reduce costs and earn revenue, it is creating the crisis of their survival. TOMS Shoes need to address the issue of making available all its balance sheets of the past and present financial years so that other stakeholders could know the cost incurred to TOMS on a single air of shoe and the sale price. Until these and other financial details are made public, how can the Company claim its right of doing praiseworthy work in the field of corporate social responsibility? This is a big leadership issue. No company can claim its right to doing social and humanitarian work, although a private company, but claim needs to be authenticated. Critics counter-claim that TOMS One for One program can be a marketing tactics to sell in huge quantity its production of shoes in the name of doing social service. The onus of relieving from this burden lies on the management of TOMS Shoes. Its corporate leaders need to be transparent enough on the cost incurred on a pair of shoes to silence the

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