ever-evolving challenges that we are all facing.

Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to classmates or your faculty member.

Due Thursday

Respond to the following in a minimum of 175 words and a referenced source:

Consider the global pandemic that we have all recently faced and continue to live in a new normal as a result of. There are ever-evolving challenges that we are all facing. Consider how much of the United States is dependent on and functions because of small businesses. Almost half of the U.S. population works for a small business.

Given the pandemic and the challenges many small businesses are facing, how can you apply the social-exchange theory and create a program to help small businesses? Pick a specific section (e.g., restaurants, local retail shops). Design a specific program and defend your answer with support from the textbook.

Due Monday

Post 2 replies to classmates or your faculty member. Be constructive and professional.

ANSWER

Ever-evolving Challenges that We Are All Facing

The social exchange theory involves human beings making decisions by consciously or consciously measuring the cost and related costs of a relationship and seeing to maximize the reward (Cropanzano et al., 2017). The pandemic greatly influenced small businesses, which are the backbone of America’s economy. Some of the small businesses that were hardest hit by the pandemic include restaurants. Using the social exchange theory, I would start a program where the restaurants and their employees both benefit from each other to ensure that they get back into the business without having to terminate the relationship. I would start a program where restaurants find new ways of doing things without having to terminate their employees and without losing their jobs or going for a long period without being paid. I would create an innovative program where the restaurants develop new ways of selling their products online. This will create new positions for the employees, such as social media managers and promoters. The small businesses will have an online presence where they sell their products, thus benefiting from the sales, and the employees will have a source of income. This will mean that they will not have to terminate their relationship.

References

Cropanzano, R., Anthony, E. L., Daniels, S. R., & Hall, A. V. (2017). Social exchange theory: A critical review with theoretical remedies. Academy of management annals, 11(1), 479-516.