Social Responsibility of Whirlpool Corporation

Social Responsibility of Whirlpool Corporation

Whirlpool Corporation is a global manufacturer and marketer of major home appliances, with annual sales of more than $18 billion, more than 73,000 employees, and nearly 70 manufacturing and technology research centers around the world. The company's family of brands, including Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Brastemp, Bauknecht, Consul and other major brand names to consumers in more than 170 countries. Whirlpool Corporation is traded on the New York Stock Exchange (NYSE) under the symbol WHR.

I would like to describe to you the three concepts of social responsibility in relationship to the Whirlpool Corporation.

1. Profit responsibility вЂ" The Whirlpool Corporation is working on maximizing its profits for its owners and stakeholders in several different ways. One way is how the Whirlpool Corporation continues to accelerate new product innovations to the market, which helps with new and continued sales. Another idea they are currently presenting is revitalizing the Maytag brand and creating a new “Maytag Repairman” вЂ" getting the brand name out and familiar to the public.

2. Stakeholder responsibility вЂ" A good example of this comes to us from the beginning of the Whirlpool Corporations business. The company’s first major order came in almost immediately after starting up their business. Federal Electric requested delivery of 100 washing machines. A problem arose when a cast-iron gear in the transmission failed in every single machine. At his company’s own expense, owner Lou Upton replaced the defective parts with a new cut-steel gear. After showing his commitment to his customer, Federal Electric doubled their order to 200 washing machines.

3. Societal Responsibility вЂ" There are several different examples I could use for this. I am going to list two that I feel are extremely good. One example is Whirlpool Corporations strides in innovation, creating washing machines and dishwashers that are more environmentally friendly, using much less water and energy. Another example would be their commitment to communities through Whirlpool and Habitat for Humanity - “Helping Others Build a Better Future.” Whirlpool Corporation demonstrates its commitment to community and society through its partnership with Habitat for Humanity. Whirlpool Corporation is the largest Cornerstone Partner of Habitat for Humanity. Far from being just a participant or partner, the company leads the effort to build 100,000 homes between 2001 and 2005. Whirlpool Corporation's $25 million commitment consists of donating an ENERGY STARÐ'® model refrigerator and freestanding range to every Habitat home built in North America through 2005. Starting in 1999, Whirlpool Corporation partnered with Habitat for Humanity by donating a refrigerator