Ethics and social responsibility in developing a strategic plan. Char_Ethics and social responsibility in developing a strategic plan 2022-12-08

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Ethics and social responsibility play a crucial role in the development of a strategic plan. A company's ethical values and commitment to social responsibility can greatly impact its reputation and success, as well as the well-being of its employees, customers, and the broader community. Therefore, it is important that these considerations be integrated into the strategic planning process.

One aspect of ethical responsibility in strategic planning is ensuring that the company's actions align with its values and mission. This includes considering the potential impacts of the company's decisions on stakeholders, such as employees, customers, and the community. For example, a company that values sustainability may consider the environmental impact of its business practices and prioritize initiatives that reduce waste and emissions.

Another aspect of ethical responsibility is transparency and honesty in communication. This includes being upfront about the company's goals, plans, and any potential trade-offs or negative impacts. This can help to build trust with stakeholders and avoid any potential conflicts or misunderstandings.

Social responsibility is another important aspect of strategic planning. This involves considering the impact of the company's actions on society and taking steps to be a good corporate citizen. This can include initiatives such as supporting local charities, engaging in environmentally-friendly practices, and promoting diversity and inclusion in the workplace.

Incorporating ethics and social responsibility into the strategic planning process can have numerous benefits for a company. It can improve employee morale and retention, attract customers and investors who value these values, and enhance the company's reputation and standing in the community.

However, it is important to note that ethics and social responsibility can also present challenges and trade-offs in the strategic planning process. For example, a company may face difficult decisions about balancing profits with social responsibility, or weighing the potential benefits of a particular initiative against its potential negative impacts. It is important for companies to carefully consider these trade-offs and make decisions that align with their values and mission.

In conclusion, ethics and social responsibility are crucial considerations in the development of a strategic plan. By integrating these values into the planning process, companies can improve their reputation, attract customers and investors, and be good corporate citizens. However, it is important to carefully weigh any potential trade-offs and make decisions that align with the company's values and mission.

Ethics: Social Responsibility and Strategic Planning Free Essay Example

ethics and social responsibility in developing a strategic plan

Ethical and social responsibility criteria must be included as part of the strategic process in before-profit decisions rather than after-profit decisions in order to receive the maximum benefit company spends billions of dollars on product perception. For the set ethical values to contribute positively towards the development of the organization, corporate governance should emphasize on the implications of adhering to them. Social responsibility is how a business performs its activities to meet its wider obligations toward the society and environment, such as by avoiding activities which may be harmful. The management should try as much as possible to keep the public updated on the progress of the organization. Ethics ensure guidelines are created that bind the entire organization into one common thread, govern the action of the organizational employees, and avoid deviation from the desired strategic path.

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Ethics And Social Responsibility In Developing A Strategic Plan Research Paper

ethics and social responsibility in developing a strategic plan

Ethics covers activities which are prohibited even though legislation may not exist at the time the unethical act occurred Cengage, 2009. Jaffe, 2009 , have scarred the business industry. This may involve monetary compensation of the employees depending on the duration that they have served the organization among others. Organizational Culture is Highly Resistant to Change: Discuss. Ethics and social responsibility have the role to play as far as market competition is concerned. This then generates commitment to the firm. This paper discusses the various types of changes and the ethical challenges it poses for the organization.


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Ethics And Social Responsibility In Strategic Planning

ethics and social responsibility in developing a strategic plan

Unethical organizations believe in these tactics not realizing that ethical and honest companies tend to be more profitable, reputable and operate amongst less stress from employees to managerial position. Members should be truthful and frank in providing ideas and comments. Second, it refers to continually examining our moral beliefs and moral conduct, and striving to live up to these well based standards Andre, C, Velesquez, M. As much as the organizations give priority to profitability, the issue of ethics and responsibility should also raise concern. This enables the team to identify and monitor any potential risks which may arise and find an alternative solution. Copy to Clipboard Reference Copied to Clipboard. A Corporations fiscal responsibilities are to manufacture goods and services that society needs and desires at a value that can achieve a positive profitability ratio and satisfy its obligations to its investors, while keeping within legal responsibilities the law.

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Ethics and Social Responsibility Roles in Strategic Plan

ethics and social responsibility in developing a strategic plan

The Role of Ethics and Social Responsibility in Strategic Planning To be their most successful, companies must consider ethics and social responsibility as critical parts, inherent components of strategic plan. This is a good catalyst for the success of a strategic plan a move that is fundamental to competitive advantage in the current globalized market. Ethics in organizations An organization should have a set of rules made in an orderly manner, to act as the guide within it. This will ensure that the organization has a greater ability to provide sustainable development. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. Simply put everyone should be appropriately taken care of. The primary objective of an organization abiding to social responsibility is to meet the interests of stakeholders and the general public Kotler, 2001.

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Ethics: Social Responsibility and Strategic Planning

ethics and social responsibility in developing a strategic plan

It can be an aid to recruitment and retention. In an effort to support these requirements agendas and regulations will be developed to maintain and enforce business ethics within the organization. Only 3 hours, and you will receive a custom essay written from scratch tailored to your instructions Learn more To begin with, strategic planning in any economic organization in a competitive market has its advantages and counter benefits to stakeholders. There are substantial tax loopholes and creative accounting are part of the same dynamic for profits regardless of social cost. This paper will include an example of a corporation overstepping ethical boundaries for stakeholder agendas and what type of preventative measures were used to avoid to the situation. An example would be to follow the laws governing termination of contracts in that specific environment.


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Ethics And Social Responsibility In Developing A...

ethics and social responsibility in developing a strategic plan

Keeping in touch with the community helps other stakeholders to adjust to change gradually as opposed to radically. In the same way, organizations that establish programs aimed at benefiting the locals are always perceived positively. Last but not least creating a code of conduct which should be followed by all employees not only sets a standard within the organization but can be used as a criterion to reward and punish employees who adhere to or who do not adhere to the code. Observing ethics would avoid legal tussles, which affect the performance of the organization in a number of ways. Ethics appears to be a subject most people take for granted.

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Char_Ethics and social responsibility in developing a strategic plan

ethics and social responsibility in developing a strategic plan

One of the most important needs of a strategic plan is to determine the long term effects of decision making to ensure accountability. This paper examines the role of business ethics by determining ethical principles and moral problems that can take place in the business. All have left customers with levels of distrust in our businesses, resulting in more scrutiny from regulatory authorities, government and the public. This includes correspondence of the product technical condition to the safety requirements; functionality of the mechanisms due to the guarantee; provision of customer with all product information. These characteristics and having well-known business ethics allow room for the business to grow in many areas such as building working relationships. This decision also hampers the vendors and consumers, because there is no source for them to buy the product from the distributional sources.

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Ethics and Social Responsibility in Strategic Planning Free Essay Example

ethics and social responsibility in developing a strategic plan

Ethical and social responsibility criteria must be included as part of the strategic process in before-profit decisions rather than after-profit decisions in order to receive the maximum benefit, i. . For instance, an organization may strategically plan to automate most of the services that were previously manually done. Corporate Social Responsibility: Case Studies for Management. Social responsibility is a necessity in this case to succeed. The result may be the failure to attain the initial goals of strategic planning.


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Social Responsibility in Ethics and Developing a Strategic Plan

ethics and social responsibility in developing a strategic plan

Strategic Management: Formulation, Implementation, and Control, Twelfth Edition, p. Stakeholders are suppliers, customers, societies and anybody who is affected by the activities of the business. The future of our organizations, the people they represent, and the wider community can only be strengthened by embedding ethics into the strategic planning process. Despite how small or big the organization is, great benefits will be enjoyed by the organization and its stakeholders as far as it abides to the set regulations of social responsibility. A socially responsible company treats stakeholders equally.

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Role of Ethics and Social Responsibility For Strategic Plan

ethics and social responsibility in developing a strategic plan

They refer to the principles that define the behavior of organizations. According to Cengage 2009 this legislation was implemented to minimize the use of fraudulent financial reporting and to protect the interest of all stakeholders. For an organization with positive strategic plans of developing and contributing positively to the external community, ethical standards should be adhered to so as to achieve this. Journal of Business Ethics, 92 3. For a socially responsible company, all the stakeholders must be treated equally.

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