To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on the website then please: Our academic writing and marking services can help you! Communicate ethical expectations and train workforce to enact ethical goals and criteria, Assess and monitor employee behavior and decisions, and, Maintain on-going proactive integrity continuity management (Valentino, 2007). My ethical perspective has broadened via this program as I have understood the linkage between ethics and its implications on the organization from strategic perspective. A management meeting provides an opportunity for management team members to raise concerns and come up with new ideas. Strategic planning using ethics and responsibility corresponds to company who are engaged with customer face to face or their involvement is not physical or direct, developing a relationship with their clients. The Role of Ethics and Social Responsibility in Strategic Planning. During the planning process, the team should take a fair and truthful look at the possible risks and impact of decisions reached. The program has taught me the relationship between ethics and the different components of the strategic plan of the organization. Hence it is important for companies to consider incorporating ethics and social responsibility into their strategic planning. Ethics ensure that strategic plan is prepared as per the best interest of all a company’s stakeholders, whether employees, vendors, customers or even the society in which the organization operates. Management must ensure that strategic decisions are reached after taking into account the possible impact on the stakeholders. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. She holds a Certified Accounting Technician qualification and is currently pursuing professional status through the Association of Chartered Certified Accountants. *You can also browse our support articles here >. What individuals ought to do, usually in terms of rights, obligations, and benefits to society, fairness, or specific virtues. Customer confidence in how business operates has been severely shaken by recent corporate scandals and collapses, such as Enron and bank failures. Ethics refer to the fundamental principles of an individual or a group. Nevertheless, for those companies who include social responsibility as one of their criteria, companies are leaving no stone unturned to ensure that they contribute to the improvement and well being of the society, while minimizing any negative impact of their operations on the society. This applies whether a company is involved with customers one-on-one, such as a Taco Bell or Dell, Inc., or their involvement is indirect, through their relationship with their clients, such as newspaper distributor Pogo Distribution Company, or wholesale food seller, Del Monte. Ethics Reflection Paper Ethics and social responsibility are key factors when planning one’s personal life or planning for the success of a business. Wider perspectives also have to be considered in terms of environmental and social impact of planned activities. The Role of Ethics in Strategic Planning Reflecting critically and actively on ethical issues is an obligation of every professional. (Valentino, 2007). Ethics must be incorporated in the strategic planning process so as to build trust on the part of all stakeholders of an organization (Hosmer, 2007). Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. Demonstrate commitment to ethical goals and criteria. If you need assistance with writing your essay, our professional essay writing service is here to help! Thus CSR focuses on two areas: Internal behaviors, which refers to the way a corporation conducts the day-to-day operations of its core business functions, and External behaviors, which refers to a corporation’s engagement outside of its direct business interest (Jones, 2004). This paper analyzes what are ethics and social responsibility, how each applies to a company’s strategic planning, and the overall impact on stakeholders when ethics and social responsibility is considered in strategic planning. Members of management should provide information transparently and honestly to help all involved discuss, debate and reach better decision-making. Ethical Principles in Planning (As Adopted by the APA Board, May 1992) This statement is a guide to ethical conduct for all who participate in the process of planning as advisors, advocates, and decision makers. (Lingham, 2009). You can view samples of our professional work here. Looking for a flexible role? Company Registration No: 4964706. I have understood the strategic importance of ethics in terms of benefiting all the stakeholders of an organization and its importance in the organization’s day to day operations. The motivation is laudable: if a positive CSR – financial performance relationship can be demonstrated, and then firms will be motivated to increase spending on CSR activities. Management Strategic planning is an essential preliminary step in the corporate world in which senior management defines the organization’s strategy, direction and decision-making.