Ethics Reflection Paper Str 581 Week 1

Only available on StudyMode
  • Download(s): 1642
  • Published: August 8, 2012
Read full document
Text Preview
Running head: WEEK 1; ETHICS REFLECTIONS PAPER

Assignment: Week 1; Ethics Reflections Paper

By Judith Judson

STR 591 – Phoenix Campus
University of Phoenix

Facilitator: Dr. Mark Kolesinsky

Week 1, July 18, 2012

Ethics Reflection Paper
In the last decade, ethics in corporate America has become highly publicized following the discovery of unethical and fraudulent business practices in major corporations. Practices at Tyco, Enron, Arthur Anderson, and WorldCom, among others, have made these corporate names synonymous with corporate fraud. The unethical behavior of top executives such as Bernard “Bernie” Madoff and Martha Stewart for example, have resulted in critical issues for companies and wide reaching job loss. The purpose of this paper is to briefly analyze the function of ethics and social responsibility and the importance of each in the application of developing a strategic plan. Also pertinent is consideration of stakeholders’ concerns, which requires that the author briefly touch upon how his or her ethical viewpoint has evolved in the course of MBA studies at the University of Phoenix. The Role of Ethics and Social Responsibility in Strategic Planning

Essentially, the definition of ethics is, “… the belief system and moral rules that vary from individual to individual.” If ethics are deliberated rigorously throughout the development of a strategic plan, remarkable results can be achieved. Ethics and social accountability form the basis and a critical role in developing a strategic plan. Values, standards, norms, and rules to accomplish an accurate avenue in attaining strategic objectives are based upon ethics. Social accountability is associated with social norms and policy that, if measured through the strategic planning, can outline the foundation of reliability. Utilization of ethics is essential in compiling the diverse requirements of internal and external stakeholders (Sims, 2003). These key aspects define a basic role in establishing a desirable strategic plan. Ethics and social responsibility support an essential agreement with the requirements of stakeholders as follow: * Ethical Code of Conduct: Ethical codes of conduct are evident throughout strategic plan development and assist to ensure right and moral activities. This aids the organization in fulfilling the desires of employees, customers, communities, shareholders, and governmental bodies (Duckworth & Moore, 2010). * Ethical Guidelines: Ethical guidelines correlated to rules, regulations and norms also assume an important role in actualizing a strategic plan. Activities such as environmental examination, strength weakness opportunities and threats (SWOT) analysis, aim market selection, demographic study, and marketplace segmentation are successfully supported if they are derived on ethical strategy. Employees who pursue ethical guidelines aid in cultivating a strong foundation for the proposed strategic plan. Ethical guiding principles support in the confirmation of what is right or wrong. Ethical assessment systems like rewards and recognition for ethical performance carry an important role during the strategic plan development process (Sims, 2003). * Social Corporate Responsibility: Socially responsible corporate actions play a significant role in engaging the internal and external stakeholders’ requirements in the strategic plan. Avoiding socially apprehensive performances such as immature or irrational decisions and discarding unwelcome environmental choices throughout strategic plan development process supports satisfaction of governmental rules concerning lawful, workable decisions. The implementation of these choices play a significant role in satisfying the desires of internal and external stakeholders. Socially encouraging attitudes in the development of strategic steps assist in ensuring positive responses from government bodies (Sims, 2003).

Evolution of Ethical Perspective
Ethical...
tracking img