Introduction
This reflection highlights the roles of ethics and social responsibilities when developing a strategic plan and the importance of stakeholders during this process. Incorporating the discussed roles will allow a strategic plan to function successfully. Finally, a personal perspective toward ethics will be shared.
In general, ethics and social responsibilities plays a role by allowing a business to operate effectively, generate an honest profit, maximize social benefits, increase the confidence of the public, strengthen the relationship with stakeholders, provide an effective framework for conducting business, add value to the business image, etc.
The General Roles of Ethics
To begin, developing, implementing, and enforcing policies company-wide will increase the awareness of individual expectations. By the same token, educational opportunities should be available for employees to engage in learning and understanding the rationale for each policy. Even more important, this provides accountability and demonstrates how a business should function as a cohesive unit.
Ethics provides a framework for recognizing unethical actions. It is important to understand that in some cases, unethical actions are not always illegal. Ethics are morals, theories or a system for dealing with the concept of good and bad, which includes the anticipated moral duties and obligations (Ethics, 2011). For example, character, professionalism, creditable, trustworthy, etc. are ways to generalize the meaning of ethics.
The Legal Roles of Ethics
In this evolving world, the alarming concern is that ethics is a combination of preferences, plus ethical standards can vary from business-to-business, which can cause dilemmas. On the other hand, ...
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...nto pieces. It damaged the culture, reduced the moral, questioned everyone’s honesty, and attracted bad publicity that will hunt us for years. Therefore, I have chosen to the path that will give me a better chance of being confident in the decisions I make at any given time. In addition, my education at University of Phoenix has elevated my integrity.
Conclusion
Therefore, if tailored properly, ethics can foster the confidence of the public and strengthens the relationship with its current and future stakeholders. As the business world is evolving and remains under constant scrutiny, it is beneficial to implement ethics and social responsibilities in a strategic plan. This implementation will develop an effective framework. To end this, by addressing the stated components will bridge the gap between the strategic plan and stakeholder expectations when possible.
The task of business ethics is to make sure business decisions encompass an ethical element, and to make sure that managers take ethical implications of strategic decisions into account before choosing a line of action.
Trevino, L., & Nelson, K. (2011). Managing business ethics - straight talk about how to
The aim of this paper is to discuss the challenges of values-based decision-making ethics in the current marketplace. This discussion will include the research findings on the four markets for potential expansion and an assessment of the current social and political climate of each. A recommendation will offer three best fits based on a comparison of company values, and will include detailed rational for these choices.
Every business entity has social responsibilities. The four theories of social responsibility are the maximization of profits, moral minimum, stakeholder interest and corporate citizenship. Social responsibility goes hand in hand in regard to a company’s ethical standing. As a company, it’s crucial to have high ethical standards. The Ethisphere Institute ranks businesses annually to be named on their honorable and highly recognized list of the World’s Most Ethical Companies. These organizations are evaluated in terms of their ethics and compliance programs, corporate citizenship and responsibility, culture of ethics, governance and leadership, and innovation and reputation. One of the companies
Business organizations regularly run into demands from various stakeholders groups when conducting day-to-day business. These demands are generated from employees, customers, suppliers, community groups, governments, and shareholders. Thus, according to Goodpaster, any person or group of people that can shape or can be shaped by attainment of the objectives by an organization is considered a stakeholder. Most business organizations recognize and understand their responsibilities to these groups and endeavor to honor and fulfill them. These responsibilities are often communicated to the public by a statement of principles or beliefs. For many business organizations, corporate social responsibility (CSR) has become an essential and integral part of their business. Thus, this paper discusses the two CSR views: the classical view and the stakeholder view. Furthermore, I believe that the stakeholder view has brought ethical concerns to the forefront of businesses, and an argument shall be made that businesses would improve both socially and economically if CSR, guided by God’s love, was integrated into their strategic planning.
Ethics and social responsibility are integral components in developing a strategic plan while considering stakeholder needs. As such, ethics and social responsibility should be deemed as an essential strategic concern within all organizations. Ethics and social responsibility has the capacity to make or break an organization; the success of an organization’s strategic plan is dependent upon it. This paper will explain the role of ethics and social responsibility in developing a strategic plan while considering stakeholder needs. Lastly, this paper will elaborate as to how my ethical perspective has evolved throughout the program.
A major question for business historically has been whether corporate decision makers should be concerned with issues other than profitability. The statement ethics and profit do not go hand in hand is an ancient and traditional theory as is in the modern world business people are introducing new advertising and sales techniques that drive a business into success as well as putting into account people’s rights and obligations. This is so as to achieve the long term benefit and stay in the market for a much longer period of time. This essay explains how the firm uses ethics to consider the customers and employees before profits and how to deal so as to survive unfair profit oriented competitors it also explains how firms use practices like competence,social responsibility and disclosure of interest.
The organisation should also display ethical behaviour towards its stakeholders which is important for building long-term relationships with its customers.
[1] Ethics is defined as “the code of moral principles and values that governs the behaviour of a person or a group with respect to what is right or wrong” (Samson and Daft, 2005, p.158)
The notion of ethics deals with people’s behaviors within a company. Social responsibility involves a company’s moral obligations and the manner in which the organization makes its decisions. Although ethics and social responsibility are similar on a conceptual basis, each has its own unique characteristics that express their differences and its independence of the other. Ethics and social responsibility have to be present and coincide with one another for a business to be ethically sound.
Business Ethics are much more than the buzz word stories on late night news. The Corporate Social Responsibility of a company goes well beyond that. “Business Ethics are moral guidelines for the conduct of business based on notions of what is right, wrong and fair.” (Bellow, 2012). Individual backgrounds play a huge role in person by person code of conduct can vary from employee to employer. To help solve some grey areas in what is ethically correct, companies now make a code of conduct that is over everyone in the company. This code of responsibility helps employees have better understanding of what is required of each and every one of them. “Corporate Social Responsibility is a business philosophy which stresses the need for
Treviño, L. K., & Nelson, K. A. (2007). Managing business ethics: Straight talk about how to do it right Fourth ed., Retrieved on July 30, 2010 from www.ecampus.phoenix.edu
Business ethics and social responsibility are two concepts many individuals believe go along together for corporations in the business environment. Business ethics are the moral values a company uses to ensure all employees action in a standard manner when completing business functions. Social responsibility is typically a conceptual theory that governments and the general public hold, believing that businesses should not conduct themselves in a manner counter to cultural or societal norms. The connubial of these concepts happens when companies introduce a written code of ethics to demonstrate that the company only acts in its greatest interest so long as it does not damage the company’s social responsibility.
Ethics is a system of moral principles and a branch of philosophy which defines what is acceptable for both individuals and society. It is a philosophy that covers a whole range of things that have an importance in everyday situations. Ethics are vital in everyones lives, it includes human values, and how to have a good life, our rights and responsibilities, moral decisions what is right and wrong, good and bad. Moral principles affect how people make decisions and lead their lives (BBC, 2013). There are many different beliefs about were ethics come from. These consist of; God and Religion, human conscience, the example of good human beings and a huge desire for the best for people in each unique situation, and political power (BBC, 2013).
Why is it so important to understand the importance the ethics role in business? Business ethics and social responsibility are creating obligations for corporation to do more in the business than just obey the law. The acceptability behavior found in business is not only determined by the organization but like the stockholder, costumers, competitor, government and etc.