Just Another Slimer is a small artisan slime shop that is based in Rhode Island. The revenue for this business is almost entirely generated through social media exposure and marketing on Instagram. This small business’ customer base consists of both children and adults from all over the world and is financed by sales from justanotherslimer.com.
Just Another Slimer faces issues with respect to financial performance primarily because it’s owner has committed to the University of Pittsburgh, and I will no longer be able to run the business throughout the Fall and Spring semester. Of course, this will cause a significant decrease in sales, while also limiting social media exposure. Because this business’ sales heavily depend on consistent social media posts and interactions with followers, the financial performance of “Just Another Slimer” will ultimately decline over time. In an effort to combat this inevitable loss, I plan to host pop-up events for local customers and rent booths at local fairs and carnivals to sell products on a smaller scale throughout summer break.
One of the most important stakeholders of this small business are the individuals that follow the company on social media. These followers expect a certain level of social sustainability through consistent posting and consumer interactions. “Just Another Slimer” has made recent efforts to increase environmental sustainability by utilizing ecofriendly packaging materials such as decomposable bubble mailers and recyclable bubble wrap. The social value of being an environmentally conscious business has great potential for gaining new customers.
Another important stakeholder of this business are its social media competitors including Peachybbies and Snoopslimes. These brands have a much larger social media presence (both about one million followers) and are able to employ a full staff. While Just Another Slimer can only produce a limited number of products, this brand has a higher level of quality control and customer care.
Another example of an organization facing competing pressures between the need for optimal financial performance and the need to create shared value for stakeholders is British Airlines. This airline attempts to optimize financial performance by overbooking flights, which consistently causes social instability by justifiably angry customers. Travel Perk notes that British Airline admitted to overselling 500,000 flights annually.