Ethics in Strategic Planning

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Ethics are beliefs about good or bed, right or wrong. An individual’s values and way of behavior toward society, determine whether behavior is regarded as ethical or unethical. Social responsibility is a principle that organizations should contribute to the welfare of groups and individuals in its social environment and not be solely devoted to maximizing profits. These groups and individuals are called stakeholders those directly affected by the practices of an organization. Ethics and social responsibility are very important to be consider either it is personal life planning or planning for success of business. When companies develop strategic plans, they must consider what role ethics will play and how social responsibility will affect the plan keeping stakeholders need at the forefront. If businesses and individuals make willful effort to behave ethically, then there is less chance to see any Enron or WorldCom in the future business world. Author’s personal perspective towards ethics and social responsibility grow over time in the master’s of business administration (MBA) program. Throughout in MBA program author learned that you should always behave ethically and socially responsible for your actions in either personal life or you work for an organization. An organizations use ethics as guidelines to help employees and management to behave themselves according to the standards of the organization. To ensure employees understand the rules and make good ethical decisions, a company’s plan should embody the beliefs and values that the business and their employees view most important. These values stated in a company’s mission, vision, and philosophy statements that provide direction, purpose, and a clear understanding of an organization’s behavioral expectations and decisions made by the stakeholders. When adhered to, the mission and vision statements can be the baseline for goal-setting and strategic planning while keeping ethics at the core of all...
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