Evaluating a Corporate-Societal Relationship

Evaluating a Corporate-Societal Relationship Course Name Subject Professor Date Companies maintain continuous development due to their interactions with diverse aspects of their surroundings. According to Lawrence, these elements range from the society, the environment, and other stakeholders (1). The author acknowledges that a firm’s success depends significantly on the relationships established with these parties. In this context, Lululemon Athletica represents one of the Fortune 500 companies that has demonstrated its capability to overcome diverse business-related challenges by fostering constructive relationships with its varied stakeholders and society. The company also protects its external environment through well-designed and funded corporate social responsibilities, which Lawrence approves as a fundamental duty of a forward-thinking company (1). Such aspects have played a critical role in Lululemon’s capacity to achieve its current influential status in the sporting apparel industry. Thus, this research summarizes Lululemon Athletica’s products and services, investigates the strategies its primary stakeholders use to impact the institution’s financial performance, identifies external factors affecting success, and the leading missed opportunities or success of the firm in solving recent social issues. Lululemon’s Primary Products and Services Lulululemon has established itself as one of the top companies in the athletic apparel niche. According to Qian, the firm has served its customers with diverse products in this industry for over two decades since its establishment in 1998 (2). The author notes that it started as a manufacturer and distributor of yoga-inspired attires and related products in Vancouver. It has since expanded significantly to provide many other sports-related items. Lululemon’s focus on this area highlights its emphasis on a healthy lifestyle through its products. The company has persistently illustrated its capacity to provide the sports market with high-quality, durable, and appealing products. Its innovation team constantly designs new fashionable items to ensure the company stays updated with the latest fashion changes while maintaining Lululemon’s focus on quality (Qian, 2). The products and services of this firm target middle-class women more, considering that this group constitutes the top proportion of the company’s market base. Thus, focusing on athletic apparel has enabled Lululemon to gain notable influence in the sector. The company showcases specific products in the athletic apparel categorized based on the customers. For instance, it has women’s clothes that constitute t-shirts of all varieties, including polo, short, and long-sleeved ones. The company also includes different types of shorts like liner, athletic, and sweat shorts. Its tank top category presents cropped and regular items, while the leggings may range from low rise and high waist to super high designs. Lululemon includes sports bras, skirts, joggers, jackets, jumpsuits, hoodies, and specially designed dresses. The men’s products are equally diverse, with varying types of t-shirts, polo shirts, shorts, vests, trousers, compression, and many items similar to the ones in the female category. Lululemon also recognizes the products for male and female kids with its rich kids’ clothes section. Their items for all age groups also include a wide shoe variety. Thus, the company has invested widely in the clothing sector for all ages and genders. Financial Performance Influence by Primary Stakeholders Chapter One in Lawrence’s text reveals the diverse stakeholders in a corporation and their diverse powers. The text indicates that these players can have supportive or destructive impacts on a company’s growth based on their strategies and the quality of their relationships (Lawrence, 1). For instance, the book indicates that primary stakeholders such as customers, employees, and suppliers hold economic powers. As a result, firms should recognize that these entities’ actions can trigger a beneficial or harmful impact on their financial performance. Customers’ buying power and decisions highlight a critical factor influencing a company’s financial health. Firms provide services or products to benefit from their sales profits. In this context, customers directly contribute to an institution’s financial growth by preference for the marketed products. Lawrence indicates that companies should nurture their relationships with customers to maintain their reputation and protect their competitiveness ...