Taking on Financial Responsibility

Once you get to a certain age in life where you are completely depending on yourself, then you will find this article to be extremely helpful because you will have issues managing your finances. While you are still getting help from parents, you will not need to find this article interesting because you are most likely not paying any rent, bills or food. Once you get out of that nest, you will start realizing how tough it can be to make money to live in comfort. At that point in life, you will need to learn how to take on financial responsibilities properly, and this article will help you with that.

Be Resourceful

The key is to be resourceful because then you will be able to manage your finances without any problem. The Orion Code software might be able to help you out additionally by giving you a lot more profit. However, you shouldn’t always rely on these things, you need to manage your money and once you achieve that, then no matter how much you earn you can live in comfort. In life, sometimes the small things will be valued more, it is not always about the money.

Patagonia:
Encouraging Customers to Buy Used Clothing (A)
by Andrew Hoffman

Product Type: Case Publication Date: 03/2012 Product ID#: 1-429-230 Length: 22pages
Core Disciplines: Corporate Social Responsibility (CSR); Strategy & Management; Sustainability
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TEACHING NOTE: Available to Registered Educators. Please login to view it.
DESCRIPTION: How do you make money when you tell your customers ‘don’t buy our stuff unless you really need it?'” This was the question that Yvon Chouinard, founder of the clothing company Patagonia, asked himself as he considered developing a new partnership with eBay in which customers would buy and sell used Patagonia gear on eBay rather than buy it new. As he considered this new partnership, Chouinard would have to balance the environmental priorities upon which Patagonia was founded with its financial well-being. This is a two-part case. Part A presents the decision which Chouinard is considering, while Part B presents the decision that Chouinard chose. The A and B cases were written by graduate students Allyson Johnson, Courtney Lee, Steven Rippberger, and Morgane Treanton, under the supervision of Professor Andrew Hoffman.
TEACHING POINTS:
After discussing this case, students will be able to:
Explore a company that has incorporated sustainability and CSR into the core of its long-term business strategy.
Analyze how and why strategic options differ between public and private companies, and how these differences can influence the successful adoption or execution of sustainability strategies.
Identify critical components of a successful sustainability strategy and the competitive advantages that such a strategy can confer.
Discuss and analyze common business concepts such as “minimize costs,” “maximize profits,” and “maximizing business growth.”